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Financial Services

Financial Services. User Group Meeting April 3, 2014. Agenda. Year end schedule – what you need to know New – Staples Advantage Open Forum – a chance to ask you questions. . 2013/2014 Fiscal Year-End Closing . May 1, 2013 to April 30, 2014. INTRODUCTION. Nadia Ferrari

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Financial Services

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  1. Financial Services User Group Meeting April 3, 2014

  2. Agenda Year end schedule – what you need to know New – Staples Advantage Open Forum – a chance to ask you questions.

  3. 2013/2014 Fiscal Year-End Closing May 1, 2013 to April 30, 2014

  4. INTRODUCTION Nadia Ferrari Senior Accountant This presentation will provide an overview of this fiscal year-end closing procedures, cut-off dates and contact persons at Financial Services and Human Resources

  5. GOALTo close the books on timeand accurately.

  6. THE PURPOSE To get all financial activities into the correct fiscal year

  7. THE REASON To be confident in the Financial Data • Able to assist Management to make sound decisions based on the financial records • Able to compare historical data for forecasting purposes

  8. Audit • Auditor – KPMG • Field audit – Mid May to Mid June • Control tests – Evaluate design and operating effectiveness of the controls • Substantive approach – Direct confirmations, review reconciliations, vouch samples, trend analysis etc.

  9. Audit -your help and co-operation is greatly appreciated.

  10. Each year, it’s a challenge to complete the year-end on time.

  11. So how are we going to achieve our goal?

  12. 1. By staying current

  13. 2. Meet or beat the deadline dates

  14. Ask for clarification and help

  15. Procurement Deadlines John Sedlar Manager, Purchasing Services • John Sedlarext. 6981

  16. Procurement Deadlines All Purchase Requisitions - Electronic • April 11, 2014 by 4pm • Last day to submit an approved online • purchase requisition to Purchasing Services to be converted into a PO for the fiscal • year 2013-14 budget year • Contact your purchasing agent

  17. Procurement Deadlines Cont’d • April 11, 2014 by 4pm Last date to request Purchase Orders to be closed (no outstanding invoices) Purchasing and Payment will continue to review and close all Pos that are determined to be completed.

  18. Questions? Please feel free to call or email YOUR PURCHASING AGENTS: John Sedlar Manager, Purchasing Services at ext. 6981 AT YEAR-END, EMAIL IS PREFERRED. Procurement Deadlines

  19. Payroll Deadlines Beverley Wemp Manager, Payroll • Beverley Wemp, HR, ext. 7225 20

  20. Pay Bi-weekly deferred April 25 pay - includes Mar 30- Apr 12 Apr 13-30 will be accrued to department cost centres Weekly deferred May 2 pay - includes Apr 20 – Apr 26 will be backdated by HR to Apr 30 Apr 27- 30 will be accrued to department cost centres Monthly Apr 1-30 pay on April 15 • Beverley Wemp, HR, ext. 7225

  21. Questions? Visit HR Website Call Payroll Department, HR

  22. Client Services Deadlines Diane Winiarz Director, Client Services • Diane Winiarzext. 6556

  23. Client Services Deadlines • April 28, 2014 by 4pm Last day for departmental budget transfers Last date to submit journal entries

  24. Questions? Please feel free to call or email your Financial Advisors at Financial Services Visit our website

  25. Accounting Deadlines Timothy Chiu Controller Liisa Harte Supervisor, Faculty & Staff Cash Office Nadia Ferrari Senior Accountant Maher Louis Treasury Officer

  26. Department Deposits • April 30, 2014 by 3pm Department deposits (cash, cheques, credit cards) must be brought in to the Faculty and Staff Cash Office • Liisa Harte ext. 5023

  27. Petty Cash • April 29, 2014 by 2pm Last day to submit petty cash reimbursement requests to the Faculty and Staff Cash Office to be recorded in 2013-14 budget • Liisa Harte ext. 5023

  28. Accounts Payable Deadlines Mary Jane Pacheco Manager, Payment Services • Mary Jane Pacheco ext. 4748

  29. Invoices, Cheque Requisitions & Advances • April 17, 2014 by 4pm Last day to submit payment request for expenses related to 2013-14 fiscal year Check your office to make sure everything on hand are sent to FS today • Mary Jane Pacheco ext. 4748

  30. MarkviewInbox Invoices Please review daily after April 1st up to and including April 30 Invoices not approved with distribution code(s) can not be charged to this fiscal year • Mary Jane Pacheco ext. 4748 31

  31. TRAVEL Travel & Expense Statements • April 17, 2014 by 4pm Last day to submit paper claims for expenses related to fiscal year 2013-14 • April 25, 2014 by 4pm Last day to submit iExpense claims for expenses related to fiscal year 2013-14 • Mary Jane Pacheco ext. 4748

  32. April 30, 2014 by 12pm All transactions processed by the bank to your P-Card will be charged to the 2013-14 budget year Transactions reviewed & approved through “detail online” will be charged to the account identified on the transaction Transactions not approved will be charged to the cardholder’s default account(s) Purchasing Card

  33. Internal ChargebacksBookstore, Postage, Security, Phones, Photocopy, Computing,Merchant Fees & Facilities Services • April 28, 2014 by 4pm Last day to submit chargeback requests to Client Services for entry for FY13-14 • Contact Client Services

  34. Bookstore Inventory Count • April 30 to May 2 Bookstore (Campus Store) will be closed for physical inventory count 35

  35. Billing Invoices April 28, 2014 by 4pm All requests for goods and services sold up to and including April 30, 2014 Backup documentation must be submitted together with the requests

  36. Billing Invoices Continued What should be processed through University Accounts Receivable for billing? Departments that want to charge outside third parties for expenses that they need to be re-captured. • Contact Henry Tsoiext. 6992

  37. Endowment • April 30, 2014 Any unspent balance in an endowment related expendable trust cost centre will be transferred to the endowment’s related stabilization account

  38. REMEMBER it is never too early to prepare for year-end. Begin NOW!

  39. YEAR END MEMO and SUMMARY MATRIX Financial Services Home Page http://www.ryerson.ca/financialservices Listing of deadline dates are under “NEWS and EVENTS” 2014 YEAR-END MEMO 40

  40. Questions?

  41. Office Supplies “NEW” • Staples Advantage new on-line catalog ordering “eWay” available March 3rd • Name, Department Name, General Ledger Account Code and Purchasing Card number required • Deliveries to Ryerson Receiving • Pricing for core contract items deeply discounted • Ryerson collaborating with OECM • Staples Representative: Steve Watson, email - Steve.Watson@staples.com • Payment Services Purchasing Card Administrator: Sui Jun (Douglas) Huang, email - suijun.huang@ryerson.ca

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