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- Year End Processing
- Fiscal Year End Process
- FY18 Purchase Requisitions
- Year End Requisitioning Procedures
- Copying a Requisition
- Fiscal Year End Processing Checklist
- P-Card Charges for FY17 and FY18
- Year End Calendar
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Fiscal Year End Processing Checklist
Process Purchase Requisitions to the appropriate fiscal year. Expenses must be recorded in the fiscal year in which the goods or services are received, regardless of the date of the actual payment or issuance of purchase order.
Provide dates of service on Purchase Requisitions.
- Process requisitions for the new fiscal year in Billiken Buy using the "Year End Requisitioning Procedures" and "Copying a Requisition" documents located at the Business & Finance web site: http://www.slu.edu/x28700.xml
The Banner Transaction Date determines the fiscal year to which the requisition is recorded. The transaction date is determined by the Valid From date for Billiken Buy blanket orders and by the Financial Year indicator for Billiken Buy Standard and Retrofit orders.
Enter text identifying the fiscal year (for non-grant 3xxxxx funds), that this is a blanket order, Banner fund number (this may be helpful if your department has multiple blankets with the same vendor), and nature of the purchase in the Name field of the blanket order. Sample text:
FY18 Blanket Order Office Supplies
FY18 Blanket 2XXXXX Office Supplies
Blanket 3XXXXX Office Supplies
Reference the previous FY Standing/Blanket order number and any applicable account numbers with the vendor in the Description field of your blanket order. If a previous fiscal year PO is not available, please indicate so by including "N/A" or "No prior year SO" in this field.
Standard Text (clause) codes are no longer needed.
- IDO's must be recorded to the appropriate fiscal year. Expenses must be recorded in the fiscal year in which the goods or services are received.
Provide dates of service on IDO's.
- Requestors - The Transaction Date and Required Date indicate to the service provider the fiscal year in which you expect to receive the goods/services. Both dates should be June dates if you expect delivery of goods/services by June 30, 2017. Enter a Transaction Date and Required Date of July 1, 2017, for new year orders (expected delivery July 1, 2017, or later).
- Service Providers - Requestors are aware (see above) that the Transaction Date and the Required Date indicate the fiscal year in which the requestor expects delivery of goods/services.
Please note that the Recovery Transaction Date on the eSeeIDO Approved Orders Processing screen determines the fiscal year to which the transaction is recorded.
- For goods/services provided as of June 30, 2017, please ensure that a June Recovery Transaction Date is entered. Therefore, if you are Completing an IDO (applying the credit FOAPAL) in July for services provided as of June 30, change the Recovery Transaction Date to June 30, 2017.
- For goods/services provided in the new fiscal year (starting July 1), please ensure that a July Recovery Transaction Date is entered.
- Process eSeePay DPV's to the appropriate fiscal year. Expenses must be recorded in the fiscal year in which the goods or services are received, regardless of the date of the actual payment.
Provide dates of service on Direct Payment Vouchers.
- Requestors - The Transaction Date indicates the fiscal year in which you received the goods/services. Please submit FY17 vouchers ASAP so that all approved DPV's may be posted in a timely manner.
In June if you have a voucher to process for FY18 that doesn't need to be paid until July, it is best to submit on or after 7/1/17 so that a July transaction date defaults.
In July be sure to change the transaction date to 6/30/17 if goods/services were received on or before 6/30/17 and should be charged to FY17. If the voucher should be charged to FY18, you will not need to change the transaction date.
Approvers should review and approve items in their queue at least once a day.
Fund Activity/Balance Available
- Access the Banner Self Service (BSS) Operating Ledger, Fund Balance, and Encumbrance Queries to view FY 17 and FY 18 fund activity.
Users may also query INB forms including FGIBSUM Budget Summary, FGIBDST Budget Status by account code, FGITRND Detail Transaction Activity, and FGIOENC Encumbrance List to view FY 17 and FY 18 fund activity. Select the appropriate fiscal year when entering the query parameters.
To obtain accurate fund balance available for Designated and Restricted funds, review the BSS Fund Balance Query for FY 17 and FY 18. Review fund activity at the BSS Operating Ledger Query or INB form FGITRND for FY 17 and FY 18 to verify that transactions are recorded to the proper fiscal year.
CPC-Accounts Payable Processing
- Process all non-travel expense reimbursements to employees in Concur Expense. Concur Expense Reports for FY17 are due to your Commitment Office by July 8. Enter a report date of 6/30 or earlier for FY17 expenses. Enter report date of 7/1 or later for FY18 expenses.
- Forward purchase order invoices to CPC-Accounts Payable as soon as possible.
Invoices are paid against the year in which the goods are received. Accounts Payable uses the shipped date on the invoice to determine the fiscal year to be charged.
- Review FY17 transaction activity to be sure that all invoices have posted. If there are outstanding invoices for FY17 (purchase orders or direct pays) that have not been paid as of July 18, 2017, please contact CPC-Accounts Payable (firstname.lastname@example.org). You may also need to contact the vendor if Accounts Payable has not received an invoice.
- If an invoice cannot be obtained, communicate with the Director-Central Processing Center, Theresa Leisure (email@example.com), so that FY17 expenses may be accrued.
- Process all Travel Expense reports in Concur Expense as soon as possible. When you have completed your trip, please submit your Travel Expense report to ensure timely reimbursement and proper accounting of these expenditures. Concur Expense Reports for FY17 are due to your Commitment Office by July 8. If you have questions, please contact Christine Branson (firstname.lastname@example.org) or Lori Myers (email@example.com).
If a trip crosses fiscal years, the expense will be recorded to the fiscal year in which the majority of the trip days occurred. If your travel should be FY17, be sure the report date is 6/30 or sooner. If your travel should be FY18, the report date is 7/1/17 or later.
- All FY17 travel trip ID's must be closed.
- Billiken Buy blanket orders charged to grant funds (3xxxxx) will remain open and roll to the new fiscal year for grant fund numbers that are active as of 7/1/17.
Blanket orders for General Unrestricted (1xxxxx), Designated (2xxxxx), Restricted (4xxxxx), and SLUCare (8xxxxx) funds will continue to be valid for one fiscal year only.
Deposit of Funds
- Process Web Deposits to the appropriate fiscal year. Revenue must be recorded in the fiscal year during which services are provided, regardless of when the cash/check is received by the University.
- In the TouchNet Credit Information Description field, enter a description and date that services are provided. If the deposit relates to a trip, begin the description with the Axxxxxx trip number.
- In the TouchNet Debit Information Description Field, enter a "6" (June) for funds to be credited to FY17 or a "7" (July) for funds to be credited to FY18.
Continue by entering required information as indicated in the Web Deposit manual:
Enter date of deposit and initials in the description area, if the tender type is cash or check. If the tender type is preauthorized AMEX, Discover or MC/Visa, please enter your merchant name, date credit card batch was processed and your initials.
- Note: Separate deposit entries need to be processed for each fiscal year. Do not combine deposits pertaining to FY17 with deposits that pertain to FY18. Any payments that apply to the accrued revenue processed after June 30, 2017, should be processed as FY18 deposits.
- Process necessary Transaction Corrections.
Provide a copy of the Cognos Report of Transactions or the Operating Ledger Query Document List screen. Only actual revenue or expenditures may be moved, not encumbrances.
- Process necessary Labor Expense Redistributions.
Forward a printout of the EPAF document and copy of the labor distribution sheets with Labor Expense Redistribution forms.
- Banner PO's: All Banner purchase orders (except for "W" construction orders) will be closed at fiscal year end.
- Billiken Buy PO's:
Buyers must increase their blanket orders by June 23, 2017, if they anticipate additional expenses over the FY17 blanket order remaining balance. A Standard Retrofit order will need to be entered if the blanket PO does not have sufficient balance.
Buyers should zero out FY17 blanket orders prior to June 30, 2017, excluding those for grant funds with term dates after July 1. See Year End Requisitioning Procedures for instructions.
- Clear deficit balances (Ledgers 1, 2, 4, and 9).
Prepare an eSeeIDO or Transaction Correction, as appropriate, to cover the current deficit and anticipated expenditures through June 30.
- Review EPAF information for the new fiscal year and make necessary changes. Human Resources provides detailed EPAF processing information for the new fiscal year.
Fund Close Out
- Close out inactive/expired/small balance Designated, Restricted (excluding Sponsored Programs), and Agency funds.
Prepare an eSeeIDO and forward a Fund Request Form to the appropriate Commitment Office to close the specified fund. The Fund Request Form may be accessed at the Business & Finance web site.Please note that encumbrances must be liquidated, and the ending fund balance equal to zero in order for a fund to be closed.
Alternate Grant Funds
- Zero out alternate grant funds (Medical Center only).
The fund total must equal zero (no pennies). A printout of the EPAF must be included with the Labor Expense Redistribution form.
Note: If pennies remain after the redistribution is processed, Medical Center Finance will adjust any remaining pennies to zero out the fund.
- Be aware that certain charges may be deferred to the new fiscal year.
Payments required in the current fiscal year for goods or services to be received next fiscal year (e.g., retreats and dues/subscriptions), are processed as deferred charges. The payment is issued to the vendor prior to June 30, but the transaction is not expensed until the new fiscal year.