Annual Closing of the Books - May 4, 2018

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Presentation transcript:

Annual Closing of the Books - May 4, 2018 Year End Close 2017/2018 Annual Closing of the Books - May 4, 2018

Introduction and Welcome Campus locations Overview Due dates – Procurement & Financial Accounting Year-End Closing of the Books Memo: https://oregontechsfcdn.azureedge.net/oregontech/docs/default-source/business- affairs-documents/annual-cob-memo-fy18-final.pdf?sfvrsn=bee16067_0 Payroll Redistribution requests – June 20 Questions Thank you!

Overview of Due Dates: Procurement May 1 – Formal procurements (purchases over $150,000) May 11 – Informal procurements (purchases between $25,000 - $149,999) June 1 – Semi-formal procurements (purchases between $5,000 - $24,999) June 1 – PO entry into Banner June 27 – P-Card cutoff

Overview of Due Dates: Financial Accounting June 27 - P-Card cutoff June 29 (Friday) 12:00 pm – SIS Receivables due in BAO 12:00 pm – Cash receipts (cash and checks) due in Cashier’s Office 5:00 pm – Goods/services need to be received in order to be included in the 2017/2018 budget

Overview of Due Dates: Financial Accounting - continued July 5 Travel, Personal, and Hosting Reimbursements due in BAO Travel crossing fiscal years? Record in 2018/2019 Vendor invoices due in BAO Journal vouchers for 2017/2018 budget due in BAO Can enter, or send to BAO for entry July 9 – Banner FIS and HRIS unavailable 4:00 – 5:00 pm – closing Period 12

Overview of Due Dates: Financial Accounting July 16 – late vendor invoices for 2017/2018 entered from NOLIJ to Banner July 23 – Close Fiscal Year 2017/2018 Happy New Year!

Special Notes & Helpful Hints All goods/services must be received on, or before 5:00 June 29, 2018 in order to be recorded in 2017/2018 Travelling over June 30 – crossing both fiscal years? Record in next year – 2018/2019 Purchase Orders for 2018/2019 may be entered starting June 25, 2018 Please check NOLIJ batch daily Please check Approval Queues daily For June & July invoices, please include date received in Banner doctext Can write on invoice too (please also include in doctext)

Payroll Redistribution Please send Payroll Redistribution requests to the Payroll Office no later than June 20th

Questions How can we help?

Thank you! Thank you for your help! We could not close the books without you!