Controller s Office General Accounting Fiscal Year End Tips and Reminders. May/June 2018

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1 Controller s Office General Accounting Fiscal Year End Tips and Reminders May/June 2018

2 Fiscal Year End Send invoices in as soon as you get them Clear POs and begin planning what you will need next FY Review your ledgers to determine if journal entries need to be made for corrections

3 Fiscal Year End Invoices and Match Check to be sure you have received goods/services and respond within two (2) days if you receive an

4 Purchasing Deadlines Purchasing Card Follow deadlines established by Procurement for P-Card reconciliations Allocation in Works by June 28 th at 4:30pm Purchasing Allocation/Payment to General Accounting by June 29 th at 4:00pm

5 Team Card Team Card Deadline Expense Reports approved in PeopleSoft by June 29 th 4:00 pm.

6 Travel Office Deadlines Expense Reports TRVs TAs June 15, Deadline to submit expense reports in PeopleSoft must be in the queue for approval by the Travel Office. Clean up any outstanding expense reports that will not be approved. June 15, 2018 TRVs must be received by the Controller s Office for FY Closeout all FY TAs unless there are Travel items to be claimed in July. Clean up any pending TAs where travel dates have passed.

7 Accounts Payable June Deadlines Invoices for month end June June 25, Deadline for invoices to reach AP for June Payment Requests** June 25, Last day for Payment Request to reach AP for June and for FY **AP will continue to process as much as possible in PR through June 30th but we will guarantee if submitted and in the AP Approval queue before June 25 th then it will be FY

8 Accounts Payable Year End Deadlines Invoices for Year End July 6, Deadline for invoices to reach AP for FY

9 Accounts Payable Year End Match Exceptions Deadlines June 29, 2018 All Match Exceptions must be cleared for payment by 3:30pm unless there is a reason that is documented by the department. Ensure you are following up on all Match Exceptions and working with AP staff to clear those Budget Exceptions June 29, 2018 All Budget Exceptions must be cleared for payment by 3:30pm Ensure you are following up on all Budget Exceptions and working with AP staff to clear those

10 RQs General Accounting Deadlines June 25, Deadline to submit system generated RQs for FY Cash/Travel Advance Settlements June 25, 2018 Submit all Cash/Travel Advance Settlements even partial settlements for FY Cash Advance Settlement Procedure can be found at neral_accounting/accounts_payable/index.php and must be submitted to cashadvance@sc.edu Travel Advance Settlement Procedure can be found neral_accounting/travel/index.php And must be submitted to the Travel Office

11 General Accounting Journal Vouchers Deadlines July 11, Deadline to submit Journal Vouchers for FY Ensure you note in the comment field JV is for FY Journal Entries July Deadline to submit Journal Entries for FY Ensure you note in the comment field JE is for FY Submit JE in PeopleSoft and staff will ensure the JEs are posted back to FY

12 Recurring Lease Payments Office Space Set up as a Recurring Voucher Payment according to lease Attach Executed Lease Agreement No Purchase Order needed No Invoices needed New leases must be reported to the Controller s Office immediately All received by June 22nd will be set up for payments beginning on July 1 st.

13 Other Recurring Payments Recurring payments over a period of 6 months or longer that are the same amount Set up as a Recurring Voucher Payment No Purchase Order needed No Invoices needed PLEASE NOTE - Submit Signed Recurring Payment Form Review payments to determine if you have any recurring payments that might qualify Notify the Controller s Office immediately for any recurring payments that need to be established for next fiscal year All received by June 22nd will be set up for payments beginning on July 1 st.

14 General Accounting Resources Forms, Matrix, General Information er/general_accounting/index.php

15 General Accounting Resources Contact Us: General Accounting Contact General Accounting for questions regarding: * Journal Entries * RQs * Banking Transfers * Assets * Capital Projects * Tax * Journal Vouchers * Endowments * Sales and Use Tax Returns Addresses: General Accounting Questions GENACCTG@mailbox.sc.edu Journal Voucher Submissions/Questions APJRNLVO@mailbox.sc.edu Cash Advance Submissions/Questions- Cashadvance@sc.edu Accounts Payable and Travel Contact Accounts Payable for questions regarding: * Vendor Payments * Payment request * AP Uploads * Refunds * Travel * Team Travel Addresses: Accountspayable@sc.edu Teoffice@mailbox.sc.edu Teamcard@mailbox.sc.edu Supplier Maintenance Contact Supplier Maintenance for questions regarding: * W-9 * New Suppliers * W-8 * Changes to Supplier Address: apsupplr@mailbox.sc.edu

16 Z Funds Review all Z funds for your area. The balance should be as close to zero as possible. The Financial Reporting Team send their thanks for all of your great efforts so far to assist in the clean up process!

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