Comptroller's Office
 Policies and Procedures Manual

Effective: 01/01/2000
Revised:  04/4/12 

CMP 105: Fiscal Year-End Closing


Purpose

To close out year-end financial transactions on the PeopleSoft Financials.  To establish processing deadlines that help ensure transactions are recorded in the proper fiscal year.


Source

University policy

Introduction

The following information outlines fiscal year-end close-out procedures for the NAU accounting system for various fiscal areas. The deadlines in this memo will vary from year to year but are consistent with prior year closings.


 

Procedures

In order to record expenses in the proper fiscal year, goods or services expected to be received after June 30th should be entered as FY13 documents. The only document that can be entered in the new Fiscal Year prior to June 30, 2012 are requisition documents (RQS docs).   Requisitions for the new fiscal year must be entered with the date of July 1, 2012.

IMPORTANT!!!!  Please note that the pay period ending 7/8/12 will be a split payroll between FY12 and FY13 with 50% (6/25, 6/26, 6/27, 6/28, 6/29 & 6/30) being recorded to FY12 and 50% being recorded to FY13. Please be aware of this as you finalize your budgets for June 30, 2012.

THE FOLLOWING DOCUMENT PROCESSING DEADLINE DATES ARE FOR FISCAL YEAR 2012 ENDING JUNE 30, 2012.  THESE DEADLINES APPLY TO DOCUMENT MODIFICATIONS AND CANCELLATIONS. CLICK "HERE" FOR A PROCESSING CALENDAR BY DAY.   

Please refer to the Year-End Training web page for special instructions and processing examples.

Index
Purchasing  Travel Checks Transfers Campus Supply Deposits Payroll

 

Purchasing Documents:
 

RQS Documents - All FY12 requisition documents (RQS Doc Cd) must be completed and approved by June 15th unless they meet or exceed the bid threshold of $50,000, in which case they must be completed no later than May 2nd, 2012 in order to complete the bid process.  RQS documents entered after June 15th should be entered as FY13 requisitions for delivery after June 30, 2012.  Beginning May 21st, departments can begin entering Requisitions for FY13 in PeopleSoft Financials (see Go-Live Schedule) for goods/services to be received after June 30th.

FY12 RQS documents not in final phase after June 15th must be deleted.  All FY12 RQS documents not closed out by a PO document by June 25th, will be closed by CBDL documents as part of a batch process before June 30th.

 

PD Documents -  All departmental purchase orders (PD Doc Cd) must be completed by June 29th.  PD documents on the Document Catalog not in final phase after June 29th must be deleted. No FY12 PD documents will be issued after June 29th. 

  Blanket Purchase Orders - Goods/Services purchased against blankets for FY12  must be received by June 30, 2012. When goods are received, enter a final receiver to close the order (see RC Documents below).

RC Documents - Receiver documents (RC Doc Code) for goods received on or before June 30th must be processed by July 6, 2012 (received date should match date goods/services were physically received).  RC documents for the final receipt on a blanket order must be entered as final.  Any goods or services invoiced prior to June 30, 2012 are FY12 business and must be paid in FY12.

IN Documents - Any vendor invoices for FY12 received by a department must be forwarded to Accounts Payable immediately for processing.  July 10th will be the last day to process FY12 Invoice documents (IN Doc Code).  
 

 

PO and PD Rollovers - All FY12 PO and PD documents will be closed in Advantage during year end processing unless a request is made to create the existing document to FY13 in PeopleSoft. Requests to create PO/PD documents, in PeopleSoft, must be submitted by e-mail to the appropriate buyer in Purchasing. The buyer can be found by opening the PO/PD document from the Document Catalog in Advantage and expanding the Contact section on the Header page.

Note: Open PO & PD documents for grant or other multi-year accounts do not need to be rolled and will remain in effect until closed through the normal A/P process regardless of fiscal year.   

Only documents that have an actual encumbrance will be allowed to roll forward. An actual encumbrance for this purpose can be defined as a good or service that has been ordered from a vendor and will not arrive until after June 30. A justification must be included with each request detailing the encumbrance and submitted to the buyer no later than July 6, 2012.  Direct any questions to the appropriate buyer as listed on the PO or PD document.  Buyer contact information is listed on each document.

PO and PD Lapse Process - Any open FY12 PO or PD documents not rolled forward will be closed via CBDL documents the week ending July 13th.  Encumbrances on grant or other multi-year accounts will be rolled to the new year via JVA documents the same week.
 

  Procurement Card Goods and services shall be expended in the year in which they are received. When the Purchasing Card is used, the supplier may hold the Purchasing Card transaction for several days. This event could create an accounting problem at the end of a fiscal year (June 30). To ensure proper recording of expenditures, it is recommended that the Purchasing Card be used for emergency purchases only during the last week of June. If it is necessary to use the Purchasing Card during the last week of June, the Cardholder shall inform the merchant that the transaction shall be posted the same day as the purchase.  If travel expenses are posted on or before June 30th for FY12 expenses, or if you are unsure which accounting year your transactions should apply to, contact Gerry Barela at 523-6064.

GAE Documents - The last day for processing GAE documents for FY12 activity is July 6th.  If processing after June 30th, a 6/30/12 record date must be entered on the document header. Related invoices must be submitted to Accounts Payable by 12:00 noon on this day. 

Check Request Forms - The last day for processing Check Request Forms for FY12 activity is July 6th.  Forms must be delivered to Accounts Payable by 12:00 noon.

 

Travel Documents:
  TA Documents - All travel authorization documents (TA Doc Code) for FY12 travel must be completed by June 29th, unless they include a cash advance, in which case they must be completed by the 22nd (for conversion to PS Financials... see Go-Live Schedule) .  TA documents for trips ending in FY12 must be closed out by July 6th.    For procedures on FY13 trips, and trips which cross June 30 (both fiscal years), please contact Gerry Barela at 523-6064 (see CMP 500 for TA requirements).

TP Documents - All travel payments (TP Doc Code) for FY12 travel must be processed by July 6th.  Make sure that you use a June 30, 2012 date for FY12 TP documents.  If you are unable to meet this deadline please call Gerry Barela at 523-6064 for assistance. (see also deadline to deposit travel checks).

For additional information on year end closing procedures for travel, please contact Gerry Barela at 523-6064.
 

 

TA Rollovers -  There will be no rollover of  FY12 TA encumbrances into Advantage FY13.  Users will be responsible for manually recreated the encumbrances in PeopleSoft Financials for FY13 (see Go-Live Schedule).  Please remember that the last day to close out TA documents with a TP document is July 6th, so try to get your TA documents for old year travel closed out by this date.

TA Lapse Process - Any open FY12 TA document not rolled forward will be closed via ABDL documents the week ending July 13th. 

Checks:
  Void Checks - Requests to void a check for FY12 must be delivered to Accounts Payable by NOON on July 6th.

ALL NAU CHECKS WRITTEN ON OR BEFORE JUNE 30, 2012 Vendor checks must be mailed on or before 4:30 on June 29th. Checks to NAU employees and students must be picked or mailed by 4:30 on June 29th. Includes Financial Aid checks, accounts payable checks, travel checks

 

Transfer Documents
  IET Documents -  Expense-to-expense and Revenue to Expense transfer documents (IET Doc Code) for FY12 transactions must be processed by July 11th  using June 30 for the transaction date.  Jurisdictional Budget Managers (JFRs) will have override authority to process IET documents through July 16th.

Fund Transfers - Transfer requests must be delivered to the Comptroller's Office by NOON on July 13th, 2012.

Payroll Expense Corrections/Adjustments - Payroll expense corrections/adjustments for FY12 must be submitted by NOON on July 10th for pay periods up through pay period ending 6/24/11 and by July 13th for the split payroll which includes 6/25, 6/26, 6/27, 6/28, 6/29 & 6/30.  For all non Grant accounts completed "Non Grant Payroll Transfer Forms" should be sent to the the Comptrollers Office (Box 4080).  For Grant Accounts “Grant Payroll Transfer Forms” should be sent to Sponsored Project Services (Box 4070).

JV Documents - All departmental Journal Voucher documents (JV Doc Code) must be completed by July 11th for FY12 clearing account activity.

 

Campus Supply 
 
 

StaplesLink.com Office Supply Orders:  Goods shall be expended in the year they are received.  To ensure proper recording of expenditures, office supply orders placed through StaplesLink.com shall be processed, no later than, June 22, 2012. 

Inventory Stock Requests: (Over-the-Counter Transactions) Last day to process FY12 TMA “Over the Counter” stock requests through Campus Supply Shall be June 28, 2012.

Inventory Stock Requests:  Inventory stock requests placed through the Campus Supply/TMA iSD web-site shall be processed, no later than, close-of-business, June 28, 2012.  Campus Supply shall cancel all inventory stock back orders not processed by June 28, 2012.   

Non-Stock Requests:  Last day to process non-stock requests through TMA “Purchase Requisition” (PR) process shall be June 18, 2012.

Non-Stock TMA “Run-Slip” Request: CAS Trades non-stock TMA “Run-Slip” requests shall be processed, no later than June 28, 2012.  Run slip documentation shall include vendor’s invoice upon return with merchandise. 

Emergency Purchase Requests:  Emergency purchase requests shall be designated as such, in writing, by Capital Assets & Services Management and approved by Jean Carrasquilla, Property Control.    

Contact Jean Carrasquilla at 523-6390 for information regarding Staples Orders and the TMA system.

 

Deposits
  Cash Deposits -  FY12 cash receipts, (departmental deposits, travel reimbursements, etc.) must be delivered by noon on June 29th, 2012 to the Office of the Bursar in Gammage. Any deposits dropped in drop boxes after 12:00 Noon on June 29th, 2012 cannot be processed in FY12.  If depositing at one of the secure lock box locations on campus, locked deposit bags must be dropped off by 9:00 a.m. on June 29th to be deposited in FY12. Contact Wendy Brown at 523-6077 with questions.

Petty Cash - Petty cash funds should be restored to designated amount. The Petty Cash Form to reimburse petty cash must be delivered to Accounts Payable no later than NOON on July 05, 2012.

Foundation Reimbursements - all FY12 Foundation check requests must be delivered to the Foundation office no later than Monday, June 26th at 4:30PM for the Foundation to have them deposited with the Bursar's Office by June 29th.

 

Payroll  
 
Payroll Warrants - Warrants requiring cancellation must be returned to the  Human Resources Office on or before June 29, 2012.

Time Sheets - All hours worked through June 24th must be submitted on-line no later than 10:00 a.m. on June 25th. All hours worked on June 25th, 26th, 27th, 28th, 29th and 30th must be submitted on-line no later than 10:00 a.m. on July 9th. This includes all back pay hours due to students and other employees. See Payroll Calendar.

Payroll Expense Corrections/Adjustments  - Corrections to payroll expenses for FY12 must be submitted to the Comptrollers Office (Box 4080) by NOON on July 10th for the pay period ending 6/24/12.  Corrections for the pay period ending 7/8/12 must be submitted by NOON on July 13th (Non Grant Payroll Transfer Forms).

Payroll Expense Corrections/Adjustments for Grant Accounts -  Reminder !!! - mid-pay period account changes (including year end final payroll) must be submitted on a PAR form in time for the effective payroll run. See Payroll Calendar.

Payroll Expense Transfer forms for grant accounts for FY12 pay periods ending 6/24/12 must be submitted to Sponsored Projects (Box 4070) by NOON on July 10th (Grant Payroll Transfer Form).  Corrections for the pay period ending 7/8/12 must be submitted by NOON on July 13th. 

 

For additional assistance on year end procedures, please contact the Comptroller's Office.