- Accounting & Financial Reporting
- Accounts Payable
- Auxiliary Services
- Business Services
- Contract Approval Process
- Doing Business with Saint Louis University
- Exclusive University Business Partners
- Hotel Accommodations
- Master Vendor Form Instructions
- P-Card Policies and Procedures
- Photocopy Equipment Acquisition
- Purchasing FAQ
- Purchasing Policies and Procedures
- Selecting a Vendor
- Sole Source Form
- Vendor Discounts for Personal Purchases
- Vendor List: University
- Vendor List: Medical
- Vendor Performance Feedback Form
- Vendor Programs
- Vendor Requirements
- Year End Processing
- Fiscal Year End Process
- FY15 Purchase Requisitions
- Year End Requisitioning Procedures
- Copying a Requisition
- Fiscal Year End Processing Checklist
- P-Card Charges for FY14 and FY15
- Year End Calendar
- Split-Run Coding
- Budget Roll Process
- Deferred Charges
- Contact Business Services
- Card Programs
- Central Processing Center
- Employee Reimbursement
- Financial Commitment
- Financial Planning & Budget
- Financial Services
- Parking and Card Services
- Real Estate
- Risk Management & Insurance
- Treasury & Investments
- Vice President and Chief Financial Officer
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 Internet Native Banner (INB) using the "Requisitioning Procedures for Fiscal Year End" and "Copying a Requisition Quick Summary" documents located at the Business & Finance web site: http://www.slu.edu/x28700.xml
The Transaction Date determines the fiscal year to which the requisition is recorded. Enter a transaction date of July 1, 2014, for new fiscal year requisitions.
For standing purchase orders, enter Standard Text (clause) codes S004 and S005, and authorized users at the FOAPOXT Procurement Text window of form FPAREQN.
Provide the purpose of establishing the standing order in the description field at the Requisition Entry: Commodity/Accounting window of form FPAREQN. To enter additional item text, click Options, Item Text. Click in the Text field and enter additional text. Save the item text and click the Exit icon to return to the Commodity/Accounting window.
- The Central Processing Center requests that users enter detailed information, including your department name, vendor account number, and/or equipment serial number, in the Description Field at the Commodity / Accounting window. This will ensure that CPC - Accounts Payable has sufficient information to follow up on any questions, and to apply invoices to the correct PO's. Examples of text include (limit of 40 characters):
SO Chemistry Lab Supplies
Ob/Gyn; account 15685; parking Bellevue
The Commodity/Accounting Description (limit 40 characters) field also displays on the remittance (check stub), which helps the vendor to apply payments correctly.
Users may continue to enter additional item text (click Options, Item Text at the FPAREQN Commodity/Accounting window) as necessary.
- 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, 2014. Enter a Transaction Date and Required Date of July 1, 2014, for new year orders (expected delivery July 1, 2014, 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 actually determines the fiscal year to which the transaction is recorded.
- For goods/services provided as of June 30, 2014, 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, 2014.
- 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 FY14 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 FY15 that doesn't need to be paid until July, it is best to submit on or after 7/1/14 so that a July transaction date defaults.
In July be sure to change the transaction date to 6/30/14 if goods/services were received on or before 6/30/14 and should be charged to FY14. If the voucher should be charged to FY15, 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 14 and FY 15 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 14 and FY 15 fund activity. Select the appropriate fiscal year (2014 or 2015) when entering the query parameters.
To obtain accurate fund balance available for Designated and Restricted funds, review the BSS Fund Balance Query for FY 14 and FY 15. Review fund activity at the BSS Operating Ledger Query or INB form FGITRND for FY 14 and FY 15 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. The final submit date for FY14 is July 10. Enter a report date of 6/30 or earlier for FY14 expenses. Enter report date of 7/1 or later for FY15 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 FY14 transaction activity to be sure that all invoices have posted. If there are outstanding invoices for FY14 (purchase orders or direct pays) that have not been paid as of July 10, 2014, 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 CPC-Accounts Payable Supervisor, Donna Brooks (email@example.com), so that FY14 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. The final submit date for FY14 is July 10. If you have questions, please contact Patty Valentine (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 FY14, be sure the report date is 6/30 or sooner. If your travel should be FY15, the report date is 7/1/14 or later.
- All FY14 travel trip ID's must be closed.
Standing Purchase Orders
- Standing 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 7/1/14.
Standing 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.
- For Web Deposits, write a "6" (June) at the top of the form if the funds are to be credited to FY14. Write a "7" (July) at the top of the form if the funds are to be recorded to FY15.
Provide description and date that services are provided.
If the deposit relates to a trip, begin the description with the Axxxxxx trip number.
- Note: Separate deposit entries need to be processed for each fiscal year. Do not combine deposits pertaining to FY14 with deposits that pertain to FY15. Any payments that apply to the accrued revenue processed after June 30, 2014, should be processed as FY15 deposits.
- Process necessary Transaction Corrections.
Forward a copy of the Cognos Report of Transactions or the Operating Ledger Query Document List screen with the Transaction Correction. 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.
- Review Purchase Order encumbrances and cancel/close out as necessary to make funds available.
Send an e-mail message to CPC-Financial Commitment (firstname.lastname@example.org) to close an order that will have no additional activity. PO's with "zero" balances (except those charging 3xxxxx funds) will automatically close at year end, so there is no need to send an e-mail for these documents.
Process a purchase requisition to reduce an existing standing order when it becomes apparent that purchases against the order will be less than the encumbered amount.
- 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 and Sponsored Programs 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.