Year End Closeout FY2007 Accounts Payable Date 06/21/07

2222 Financial Management Operations Accounts Payable Requirements for Year End:  Invoice/voucher due dates  On-line documents set up for Encumbrances and Payables  How to clean up Encumbrances on your accounts  Procurement card purchases / reallocations

3333 Financial Management Operations Invoice/Voucher Due Date  All invoices/travel documents along with any corrections are due in Accounts Payable by 5 pm on August 20 th.  All work received by this date is guaranteed to be worked by year end.  AP will continue to process legitimate Rushes.  For exceptions contact Clint Merritt

4444 Financial Management Operations On-Line Documents- Encumbrances  Encumbrances are items or services that have been ordered as of Aug 31 st, but have not been received.  To record an encumbrance set up a document in FAMIS. – Exempt purchases will be set up on screen – Delegated purchases that are not exempt will be set up on screen – Requisitions entered or requisitions converted to a PO are already encumbered  This encumbrance will carry forward to the next fiscal year.

5555 Financial Management Operations On-Line Documents- Payables  Payables are obligations for goods or services that have been received as of August 31 st, but not paid.  To create a payable do receiving on the document (encumbrance) already created in FAMIS – Receiving to be done on screens  FAMIS will run the program YER217 on August 31 st to convert these encumbrances into payables. – FAMIS will post this as an expense on the SL and a payable on the GL in FY07 and then reverse in FY08 to set the encumbrance in FY08.

6666 Financial Management Operations Cleaning up Your Account  We want to make sure that you’re reporting accurate information.  Go to screen 21 in FAMIS to check your Open Commitments.  Check to see if receiving has been done on each document. If so, this will create a Payable. (YER217).  Research each Open Commitment to see if you still need those funds encumbered.

7777 Financial Management Operations FAMIS Screen 21

8888 Financial Management Operations Cleaning Up Your Account  For those documents that are set up in FAMIS and no longer need to be encumbered: – Go to screen 243 for Limited or to screen 238 for Exempt – Then complete the Purchase Order. This will release those remaining funds back into the original account. – If related to a P document then contact the appropriate buyer in Purchasing at  Any discrepancies that can not be cleared should be reported to Clint Merritt

9999 Financial Management Operations FAMIS Screen 243

10 Financial Management Operations Purchasing Card Purchases  Transactions between August 7 th - August 31 st will be a recorded on your account in August as an AFR entry.  All purchases will default to 6250, but reallocations should be made by 5 pm Sept 3,  Since these are AFR entries they will reverse in September and you will be able to reallocate by the September deadline as normal.  For questions call Geoff Spahr at or via

11 Financial Management Operations Accounts Payable Year End Summary  Use the on-line purchasing system (FAMIS) to encumber funds and record payables.  Check your Open Commitments and clean up the encumbrances on your accounts.  Reallocate Purchasing Card Transactions by 5 pm September 3 rd.  Invoices are due in AP by 5 pm on August 20 th. – Contact Clint for exceptions regarding this deadline.