FINANCE TRAININGFINANCE TRAINING

YEAR END PROCEDURESYEAR END PROCEDURES

DEADLINES!!!!!DEADLINES!!!!!

July 31July 31 – IT request for – IT request for computerscomputers

August 7August 7 – PO’s for computers – PO’s for computers September 15September 15 – last day for – last day for

regular PO’sregular PO’s September 18September 18 – last day for – last day for

print shop, postage, telephoneprint shop, postage, telephone September 30September 30 – everything else – everything else

SEPTEMBER 30THSEPTEMBER 30TH

Last day to make budget Last day to make budget changeschanges

Cash receipts in by 2:00 pmCash receipts in by 2:00 pm Purchase paperwork by NoonPurchase paperwork by Noon Completed travel by NoonCompleted travel by Noon PO’s ≥ PO’s ≥ $25.01$25.01 will roll to FY will roll to FY

20102010

September 30thSeptember 30th

Bye-bye PO’s ≤ $25.00!Bye-bye PO’s ≤ $25.00! Bye-bye encumbrances!Bye-bye encumbrances! Bye-bye unprocessed req’s!Bye-bye unprocessed req’s! Bye-bye Self Service!Bye-bye Self Service!

The Matching PrincipleThe Matching Principle

Accounting rule!Accounting rule!

Expense is recorded in the year Expense is recorded in the year

goods are receivedgoods are received

Accruals = expense before cashAccruals = expense before cash

Prepays = cash before expensePrepays = cash before expense

““ACCRUAL”???ACCRUAL”???

FY 2009 BUDGETFY 2009 BUDGET

7272010-Accrual 010-Accrual $100$100

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Total FY 2009 Total FY 2009 $100$100

FY 2010 BUDGETFY 2010 BUDGET

72010-Reverse (100)72010-Reverse (100)

72010-Payment 72010-Payment 100100

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Total FY 2010 $Total FY 2010 $00

Items Received – Not InvoicedItems Received – Not InvoicedACCRUALACCRUAL

Send Send signedsigned receiving copy to receiving copy to APAP

““FY09 Accrual” in transaction FY09 Accrual” in transaction historyhistory

Reversed in OctoberReversed in October Paid when invoice is receivedPaid when invoice is received Only effect on FY10 budget is if Only effect on FY10 budget is if

invoice > POinvoice > PO

PrepaysPrepays

FY 2009 BudgetFY 2009 Budget

71010 - DV/PO $10071010 - DV/PO $100

71010 - Prepay 71010 - Prepay (100)(100)

__________________________________

FY 2009 Total $FY 2009 Total $00

FY 2010 BudgetFY 2010 Budget

71010 – Prepay $10071010 – Prepay $100

__________________________________

FY 2010 Total $FY 2010 Total $100100

Item not received – Paid forItem not received – Paid for

Conference registrationsConference registrations

Prepaid hotel reservationsPrepaid hotel reservations

Other travelOther travel

Current FY2009 PurchasesCurrent FY2009 Purchases

Through Sept. 15Through Sept. 15thth – normal – normal

AfterAfter Sept. 15 Sept. 15thth – only “Non- – only “Non-Routine” purchasesRoutine” purchases

MustMust be approved by Mr. be approved by Mr. CarlsonCarlson

FY 2010 PurchasesFY 2010 Purchases

Through Sept. 15Through Sept. 15thth – enter req in – enter req in Banner and Banner and change change transaction date to Oct. 1, transaction date to Oct. 1, 20092009

After Sept. 15After Sept. 15thth – – Complete paper req formComplete paper req form Budget manager must signBudget manager must sign Forward to PurchasingForward to Purchasing

Paper Requisition FormPaper Requisition Form

Show Show FY10 Purchase FY10 Purchase on topon top Must be completely filled out:Must be completely filled out:

Ship to – know what yours isShip to – know what yours is Vendor # - use Vendor # - use FTMVENDFTMVEND Complete FOAPComplete FOAP Supporting documentsSupporting documents

Other IssuesOther Issues

Meal RequestsMeal Requests – need to be in – need to be in Purchasing 1 week prior to eventPurchasing 1 week prior to event

ApprovalsApprovals – approval queues should – approval queues should be emptybe empty

Traveling on Sept. 30Traveling on Sept. 30thth?? – email – email dbonds@jsu.edu with estimated with estimated expenditures for ACCRUAL!expenditures for ACCRUAL!

Encumbrance QueriesEncumbrance Queries – DO IT! – DO IT! Budget transfer secretBudget transfer secret - -

PayrollsPayrolls

MonthlyMonthly – run Sept. 29 – run Sept. 29thth, posted , posted in FY 2009in FY 2009

BiweeklyBiweekly – run Oct. 2 – run Oct. 2ndnd, , September hours posted in FY September hours posted in FY 20092009

StudentStudent – run Oct. 13 – run Oct. 13thth, , September hours posted in FY September hours posted in FY 20092009

???QUESTIONS??????QUESTIONS???