Year End Closeout FY2007 Accounts Payable

1. Year End Closeout FY2007Accounts Payable Date 06/21/07

2. Accounts Payable Requirements for Year End: • Invoice/voucher due dates • On-line documents set up for Encumbrances and Payables • How to clean up Encumbrances on your accounts • Procurement card purchases / reallocations

3. Invoice/Voucher Due Date • All invoices/travel documents along with any corrections are due in Accounts Payable by 5 pm on August 20th. • All work received by this date is guaranteed to be worked by year end. • AP will continue to process legitimate Rushes. • For exceptions contact Clint Merritt c-merritt@tamu.edu.

4. On-Line Documents-Encumbrances • Encumbrances are items or services that have been ordered as of Aug 31st, but have not been received. • To record an encumbrance set up a document in FAMIS. • Exempt purchases will be set up on screen 235-237 • Delegated purchases that are not exempt will be set up on screen 240-242 • Requisitions entered or requisitions converted to a PO are already encumbered • This encumbrance will carry forward to the next fiscal year.

5. On-Line Documents- Payables • Payables are obligations for goods or services that have been received as of August 31st, but not paid. • To create a payable do receiving on the document (encumbrance) already created in FAMIS • Receiving to be done on screens 321-326 • FAMIS will run the program YER217 on August 31st to convert these encumbrances into payables. • FAMIS will post this as an expense on the SL and a payable on the GL in FY07 and then reverse in FY08 to set the encumbrance in FY08.

6. Cleaning up Your Account • We want to make sure that you’re reporting accurate information. • Go to screen 21 in FAMIS to check your Open Commitments. • Check to see if receiving has been done on each document. If so, this will create a Payable. (YER217). • Research each Open Commitment to see if you still need those funds encumbered.

7. FAMIS Screen 21

8. Cleaning Up Your Account • For those documents that are set up in FAMIS and no longer need to be encumbered: • Go to screen 243 for Limited or to screen 238 for Exempt • Then complete the Purchase Order. This will release those remaining funds back into the original account. • If related to a P document then contact the appropriate buyer in Purchasing at 5-4570. • Any discrepancies that can not be cleared should be reported to Clint Merritt c-merritt@tamu.edu

9. FAMIS Screen243

10. Purchasing Card Purchases • Transactions between August 7th - August 31st will be a recorded on your account in August as an AFR entry. • All purchases will default to 6250, but reallocations should be made by 5 pm Sept 3, 2007. • Since these are AFR entries they will reverse in September and you will be able to reallocate by the September deadline as normal. • For questions call Geoff Spahr at 862-1341 or via email gspahr@tamu.edu.

11. Accounts PayableYear End Summary • Use the on-line purchasing system (FAMIS) to encumber funds and record payables. • Check your Open Commitments and clean up the encumbrances on your accounts. • Reallocate Purchasing Card Transactions by 5 pm September 3rd. • Invoices are due in AP by 5 pm on August 20th. • Contact Clint for exceptions regarding this deadline.