Comptroller's Office
 Policies and Procedures Manual

Effective: 01/01/2000
Revised:07/31/2013

CMP 106: Month-End Closing


Purpose

To publish the month-end closing date for the PeopleSoft Financials system


Source

University policy

Policy

The PS Financials system month-end closing dates are established by the Comptroller's Office.  The close dates are typically scheduled for the end-of business on first Thursday after the calendar month end, or if there is a split payroll between months, the Thursday before payday (see schedule below). 
 

 

Month
Period
Close Date
Fiscal Year 2013
June 12 TBD
June 998* TBD
Fiscal Year 2014
July 1 8/8/13
August 2 9/5/13
September
3
10/17/13**
October
4
11/14/13
November 
5
12/12/13
December
6
1/9/14
January
7
2/6/14
February
8
3/6/14
March
9
4/17/14**
April
10
5/7/14
May
11
6/4/14
Fiscal Year End
12
TBD

  *  Period 998 in PS Financials is an adjustment period used for audit adjustments and typically closes after the Auditor General's Office has finished their year-end financial statement audit. As part of the adjustment period close, the actual fiscal year is closed and balances are rolled forward, including fund "balance forward" amounts shown on Enterprise Reporting status of funds reports.

** Month end close delayed because of split payroll. Earlier sub-system closure dates will be communicated as part of month-end closure reminder e-mails.

Reporting:
Month end reports for Advantage are available in Enterprise Reporting and can be run on demand throughout the month.   Enterprise Reporting reports will have an "as of" date to identify the last update for a particular accounting period.  Once an accounting period is closed, the last "as of" date for the accounting period should reflect the close date for the period. Please note that on Friday's after the Month End Close, reports will still show the month as being open.  This is a timing issue that only effects reporting on the day after the Month End Close.

Beginning Balances for Units setup as "Special Close" will be populated in the new year after the fiscal year has closed and beginning balances have been rolled to the new year. Until such time, departments can refer to the old fiscal year ending balances to estimate their beginning balance roll-forward amounts.

Reminders:
See important reminders for processing transactions during month end close period below:

 


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