Preparing for fiscal year end close

1. Preparing forfiscal year end close FY 2019 YEAR END

2. Budget query by org • Self Service Finance Budget Query • Select ‘Budget Status by Organizational Hierarchy. Click ‘Create query’. • Select desired data columns. Continue. • Required: fiscal year, fiscal period, chart of accounts ‘j’ and fund. • Enter the 3 digit rollup org. • Submit query. • You can select any department org in blue to drill down for more info.

3. YEAR-END CHECKLIST - july • Check open encumbrances. • Check available balances for Student salaries, Telephone charges, print shop charges, and mail center charges. • Plan purchasing card use • Use the year end prepay form to prepay now and post to next year’s budget. • CLEAN UP OLD ENCUMBRANCES – DO ENCUMBRANCE QUERIES IN SELF SERVICE.

4. DEADLINES • Purchasing will be open until September 25th • Plan purchasing needs now • Review encumbrances – know what is encumbering your budget

5. SEPTEMBER 30TH deadlines

6. September 30th • PO’s ≤ $24.99 will be closed. • Po’s older than 2 years will be closed. • All ‘e’ docs – encumbrances will be closed. • All completed but unapproved reqs will be closed. • Self service will be removed until approximately October 16th.

7. ROLLED PO’S • If PO is at least $25.00 and less than 2 years old, it rolls to FY 2020 • the budget does NOT roll with it….

8. Accruals & Year-End Prepays • We must use budget in the year goods are received • Accruals = get the goods before sept 30th but not paid yet (we must use this year’s budget) • Prepays = pay in fy 2019 before we get it in fy 2020 (we must use next year’s budget)

9. “ACCRUAL” – uses this year’s budget(“Pretend “we’ve already paid it) • FY 2019 BUDGET 72010- ‘j’ doc - Accrual $100 ___________ ___________ Total FY 2019 $100 • FY 2020 BUDGET 72010- ‘j’ doc Reverse ($100) 72010- Payment 100 ____________ _______ Total FY 2020 $0

10. You received item by 9/30 but no invoice? THAT’S ACCRUAL • Send signed receiving copy to AP • You’ll see - “FY19 Accrual” ‘j’ doc in transaction history • You’ll see –”Reversal” ‘j’ doc in October • You’ll see – Payment in FY20 when invoice is processed • Only effect on FY20 budget is if the invoice > PO

11. Prepays – uses next year budget(“Pretend” we will pay it in October) • FY 2019 Budget 71010 - DV/PO $100 71010 - Prepay (100) _________________ FY 2019 Total $0 • FY 2020 Budget 71010 – Prepay $100 _________________ FY 2020 Total $100

12. Year-end Prepay Requirements • Conference registrations • Memberships • Sometimesother travel issues • Use the year end prepay direct voucher • Must have original invoice + 1 copy • Notify THE ConTROLLER’S OFFICE of anything Prepaid in july, august, or September for October/November

13. Year end prepay form • Complete vendor info • Complete description & attach supporting documents • Do not change the prepay account number!!! • Enter your entire foap • Clear instructions for check delivery • Send to procurement director

14. Current FY2019 Purchases • Through September 25th – normal • After September 25th – no more purchasing

15. REMEMBER!Encumbrance queries – do them! You will find some $$$

16. ENCUMBRANCE CARE • All ‘E’ docs will be closed – know what yours are that will need to be paid in October. • FACULTY RESEARCH GRANTS • Can’t carry over to FY 2020. • Make sure everything is received & paid for. • Must be completely closed out at September 30th.

17. Traveling Sept. 30th? • Email ACCOUNTSPAYABLE@jsu.eduwith estimated amount for ACCRUAL!

18. Let’s Talk….. • Look for ‘PENDING DOCUMENTS’ on Budget Queries – know what’s out there. • FGIENCD – one-stop encumbrance shop . • Learn how to do encumbrance queries in Self Service.

19. QUESTIONS???