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FINANCE TRAINING. YEAR END PROCEDURES. DEADLINES!!!!!. July 31 – IT request for computers August 7 – PO’s for computers September 15 – last day for regular PO’s September 18 – last day for print shop, postage, telephone September 30 – everything else. SEPTEMBER 30TH.
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FINANCE TRAINING YEAR END PROCEDURES
DEADLINES!!!!! • July 31 – IT request for computers • August 7 – PO’s for computers • September 15 – last day for regular PO’s • September 18 – last day for print shop, postage, telephone • September 30 – everything else
SEPTEMBER 30TH • Last day to make budget changes • Cash receipts in by 2:00 pm • Purchase paperwork by Noon • Completed travel by Noon • PO’s ≥ $25.01 will roll to FY 2010
September 30th • Bye-bye PO’s ≤ $25.00! • Bye-bye encumbrances! • Bye-bye unprocessed req’s! • Bye-bye Self Service!
The Matching Principle • Accounting rule! • Expense is recorded in the year goods are received • Accruals = expense before cash • Prepays = cash before expense
FY 2009 BUDGET 72 010-Accrual $100 _________________ Total FY 2009 $100 FY 2010 BUDGET 72010-Reverse (100) 72010-Payment 100 _________________ Total FY 2010 $0 “ACCRUAL”???
Items Received – Not Invoiced ACCRUAL • Send signed receiving copy to AP • “FY09 Accrual” in transaction history • Reversed in October • Paid when invoice is received • Only effect on FY10 budget is if invoice > PO
FY 2009 Budget 71010 - DV/PO $100 71010 - Prepay (100) _________________ FY 2009 Total $0 FY 2010 Budget 71010 – Prepay $100 _________________ FY 2010 Total $100 Prepays
Item not received – Paid for • Conference registrations • Prepaid hotel reservations • Other travel
Current FY2009 Purchases • Through Sept. 15th – normal • After Sept. 15th – only “Non-Routine” purchases • Must be approved by Mr. Carlson
FY 2010 Purchases • Through Sept. 15th – enter req in Banner and change transaction date to Oct. 1, 2009 • After Sept. 15th– • Complete paper req form • Budget manager must sign • Forward to Purchasing
Paper Requisition Form • Show FY10 Purchase on top • Must be completely filled out: • Ship to – know what yours is • Vendor # - use FTMVEND • Complete FOAP • Supporting documents
Other Issues • Meal Requests – need to be in Purchasing 1 week prior to event • Approvals – approval queues should be empty • Traveling on Sept. 30th? – email dbonds@jsu.edu with estimated expenditures for ACCRUAL! • Encumbrance Queries – DO IT! • Budget transfer secret -
Payrolls • Monthly – run Sept. 29th, posted in FY 2009 • Biweekly – run Oct. 2nd, September hours posted in FY 2009 • Student – run Oct. 13th, September hours posted in FY 2009