Year End Processing
Saint Louis University is required to comply with the financial reporting requirements promulgated by the Financial Accounting Standards Board (FASB). Consequently, we must ensure that transactions are recorded in the appropriate fiscal year. Revenues and expenses must be matched with the fiscal year to which they pertain.
The instructions, checklist, and calendars are provided to assist business managers with the timely and accurate processing of old year and new year documents.
See Year End Processing links for important processing information:
- Enter/copy requisitions, including standing and lease orders, in preparation for July 1, 2012
- Review the checklist for fiscal year end reminders and new information on requisition processing
- Review the calendars for important cut-off dates for processing FY12 documents
- Ensure that p-card transactions are recorded to the proper fiscal year
- Understand the importance of using the correct system Transaction Date during June and July (split-run processing occurs July 1-July 17)
- Review important dates and reminders associated with the budget roll process