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Chancellor’s Office Accounts Payable Activities for Year-End Closing

Chancellor’s Office Accounts Payable Activities for Year-End Closing. Lauri Reilly Accounts Payable Manager, Chancellor’s Office Year-End Legal Training May 2010. Paradigm Shift – WHAT ?. What – are you crazy? What - is the purpose? What – what about the June invoices?

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Chancellor’s Office Accounts Payable Activities for Year-End Closing

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  1. Chancellor’s Office Accounts Payable Activities for Year-End Closing Lauri Reilly Accounts Payable Manager, Chancellor’s Office Year-End Legal Training May 2010

  2. Paradigm Shift – WHAT? • What – are you crazy? • What - is the purpose? • What – what about the June invoices? • What – June 30, really? Year-End Legal Training

  3. AP Closing Activities - May • Review Prior Year Closing Documents • Create Calendar • Communicate Deadlines Year-End Legal Training

  4. AP Closing Activities - June • Execute the plan • Process, process, process • Wrap it up – June 29 Year-End Legal Training

  5. AP Year End Closing Check List • June 29 • Final check runs, positive pay & payment post • Run claim processes • Audit, budget check & post • June 30 • Data entry cutoff • Audit, budget check & post • Validate Year-End Legal Training

  6. Validation Steps • Outstanding Control Groups • Group Status not equal to “V” • Budget Checked • Budget Status equal to “N” • Voucher Post • Voucher Status report or Post Status = “U” • Payment Post • Post Status = “U” Year-End Legal Training

  7. After June 30, then what… REVIEW AND ACCRUE Year-End Legal Training

  8. Accrual Procedures • Run the Query • Review the source document • Accrual Flag • Create Reversing Journal Year-End Legal Training

  9. Resources • SCO Year End Procedures Memo http://www.sco.ca.gov/ard_state_accounting.html • AP Year-end Deadline Memo • AP Year-end Calendar • AP Year-end Checklist • Validation Queries • Accrual Query & Instructions • Accrual Worksheet Year-End Legal Training

  10. Contact Information Lauri Reilly Email: lreilly@calstate.edu Telephone: 562-951-4534 Year-End Legal Training

  11. www.calstate.edu Year-End Legal Training

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