Key Dates for Fiscal 2017 Mid-Year Close First Departmental Close

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Presentation transcript:

Key Dates for Fiscal 2017 Mid-Year Close First Departmental Close December 23rd * Final 2016 Bi-Weekly Payroll posted by 5PM * All deposits to cashier by 2:30PM * Final 2016 Exempt payroll posted by 5PM January 4th * Journal entries in FAR by 5PM * All December gifts in Advancement by 4PM January 5th * Payroll reallocations and redistributions in Payroll by 5PM (will be posted in 2nd close) * Final Invoices in Accounts Payable (AP) by 5PM (will be posted in 1st close) January 10th * Procurement card (Pcard) updated in Works by 5PM for statement ending 1/2/17 * All December gifts posted by Advancement by 12PM * All December receiving completed through Deacon Depot by 5PM * FIRST Departmental Close – Draft reports available after 5PM

Key Dates for Fiscal 2017 Mid-Year Close Final Departmental Close January 10th - * Accruals, deferrals and adjustments posted by January 12th Financial Services (including expenditure vouchers and employee travel expense reports) January 10th * Final day to send accrual documentation to AP January 12th * FINAL Departmental Close – Reports available after 5PM

Close comparison 1st Departmental Close 1/10/17 Final Close 1/12/17 Deposits made by 12/23/16 MO12 and BW26 payrolls December gifts Receiving completed in Deacon Depot 1st Departmental Close 1/10/17 Deferral of Spring Tuition Revenue billed in December Deferral of Tuition Prepayments Pcard for statement ending 1/2/17 accrued Invoice accruals by Accounts Payable ST01 payroll 100% accrued BW01 payroll 100% accrued Payroll reallocations and redistributions Final Close 1/12/17