1. Fiscal Year-End Review Session

2. Ross Justus Associate Controller
Presenter Contact Information:
Ross Justus Associate Controller
Phone:

3. Agenda Year-end Schedule & Important Dates Dual Year Processing
Review of Indexes & Accounts
Property Accounting – Purchase of Equipment
Year-end Accruals
PCard Deadlines
JV Processing
SPA Year-end
Questions

4. Damian Lopez Audit Liaison
Presenter Contact Information:
Damian Lopez Audit Liaison
Phone:

5. Key Year-End Dates
June 20 - DPRs, JVs, Reimbursement Vouchers and IDVs to be included in FY18 are due to Fiscal Monitor
July st Close
July 9 - Deadline for JVs from Business Managers and Research Centers
Carolina

6. Key Year-End Dates (con’t)
July nd Close
July rd Close
July 20 - Final Close – Reports available the following day
Carolina

7. Transaction Date vs. Activity Date
Transaction Date – Banner posts transactions to fiscal years and periods based on the transaction date.
Activity Date – The date a transaction is actually entered into Banner.
Carolina

8. Dual Year Processing
You may begin processing FY19 purchase requisitions on June 1, 2018.
Creating a FY19 requisition during the Dual Year period:
-Transaction Date must be >June 30, 2018
-Delivery Date must be > Transaction date
Carolina

9. Dual Year Processing (con’t)
> June 30, 2018
27-JUN-2018
09-JUL-2018
23-JUL-2018
Banner Finance Procurement manual online at
Carolina

10. Reviewing Funds General Ledger Review
Review Assets, Liabilities, and Fund Balance
Look for reverse balances.
Compare for no change from prior year.
AFR exception reports will help identify issues but don’t wait for them.
Carolina

11. Reviewing Indexes I&G and Non I&G Funds Unrestricted Funds
Compare current year activity to prior year activity.
Question any expense with a credit balance.
Verify that there is not any YTD expense activity in account code
Compare budget to actual expenses.
Carolina

12. Reviewing Indexes (con’t)
Unrestricted Funds, cont.
I&G Funds
There should not be any YTD activity in the following account codes:
Revenue accounts (5XXXXX),
Resale accounts (77XXXX), and
Applied charges accounts, 795xxx (except in specific circumstances).
Carolina

13. Reviewing Indexes (con’t)
Non I&G Funds
Question any revenue that has a debit balance.
Verify that any resale account codes, 77xxxx are appropriate on that index.
Carolina

14. Reviewing Indexes (con’t)
Zero all default P-card account codes –
– NMGRT Goods >$10.00
Federally excluded account codes
Refer to BDMS for back-up documentation for journal vouchers
For BDMS access
Carolina

15. Joshua Munoz Capital Finance Manager
Presenter Contact Information:
Presenter Contact Information:
Joshua Munoz Capital Finance Manager
Phone:

16. Reminders – Inventory Change Request
Excerpt of the Inventory Change Request (ICR) form:
Mike

17. Best Practices – Purchase Orders
BANNER will review a specific set of criteria (account and commodity codes) to identify capital assets apart from tagged assets.
Use document text or item text to communicate additional information to Property Accounting like
Trade-ins, discounts, etc.
Components (i.e. line 3 is part of line 1)
Mike

18. Year-end Considerations
Items received on or before 6/30/2018 will be capitalized, tagged, depreciated, or expensed in FY18.
Request and submit invoices for any tagged items.
Construction project accruals
Work done on construction projects but not invoiced will need to be accrued.
Mike

19. Year-end Considerations
Cut-off for year end – HED Library GOBs
FY18 Draw Request Deadline is July 10, 2018
Please avoid using P-card in June
Backup documentation for any outstanding expenses needs to be submitted to AFR by July 5, 2018.
Failure to meet deadlines might result in HED not reimbursing NMSU for purchases.
Mike

20. Carolina Munoz Accounting and Financial Reporting Manager
Presenter Contact Information:
Presenter Contact Information:
Carolina Munoz Accounting and Financial Reporting Manager
Phone:

21. Accounts Payable Dates
Notable Dates:
July 9 thru July 18 - Remaining FY18 PO invoices will not be paid
July 18 - FY18 encumbrances will be rolled forward in Banner
July 20 – AP will begin processing FY18 invoices
Lesley

22. Accounts Payable Dates (con’t)
Notable Dates:
NOTE: All DPRs & RV’s received in A/P after June 30, 2018 will be posted in FY19
Must be to Fiscal Monitor by 6/20/18 to be included in FY18
Lesley

23. Accruals
Our financial statements must include all revenue earned and expenses incurred in FY18, even if the transactions have not been completed. The year end accruals adjust the revenues and expenses that are in Banner to amounts required for full accrual financial reporting.
The effect of the accrual is reversed in FY19.
Lesley

24. Accruals (con’t) Three-way match
The terms of the PO require that the invoice be matched to the PO and that the goods/services have been received in Banner before the invoice can be paid.
A/P will automatically accrue if it was received correctly in Banner by 6/29/18
VERY important to receive items in Banner that were actually received by 6/29/18
Date
Ordered
Received in
Banner
Accrued with
Three way match?
5/30/2018
6/29/2018
YES
7/1/2018 NO
Lesley

25. Accruals (con’t) Two-way match – Departmental
Accrual account – JE’s reversed centrally DO NOT REVERSE
Departmental
Construction – Plant funds
754xxx
xxx
Subcontract (reviewed by SPA)
792xxx
Lesley

26. Accruals (con’t) Two Way Accrual Process:
AFR runs a COGNOS report that lists open two-way match POs.
Each department will receive a list of their open two-way match POs for review.
The review threshold for expenses incurred is $10K or greater.
Date Service
Procured
Date Services
Complete
Accrued with Two
way match?
5/30/2018
6/29/2018
YES
7/1/2018 NO
Partially >$10K
Partially
Lesley

27. Accruals (con’t)
AFR will require the departments to provide written documentation from vendor with bill amount for services provided and not yet paid prior to June 29, 2018.
Types of Documentation*
Invoice from vendor
from vendor
AFR accrues using account code Accruals reversed in July by AFR.
*Exceptions to this will be addressed on a case by case basis.

28. Audit Documentation
The following information is required for each amount accrued
Lesley

29. Purchasing Clean up Incomplete Purchase Requisitions
Review Banner FOADOCU (Document by User).
Refer to Banner Finance Procurement Manual for process to delete a requisition.
Lesley

30. PCard FY 18 Deadlines
All Pcard purchases posted at Wells Fargo through 6/21/18 will be posted in FY18.
Business managers will be contacted to assist with outstanding PCard balances in their areas.
Lesley

31. Catherine Antony Financial Information Processing
Presenter Contact Information:
Catherine Antony Financial Information Processing
Phone:

32. FIP JV Processing JEC/JED, B4C/B4D Other Spreadsheets Manual entry
These must be routed through Banner queues for approval so consider the timing when close to month end.
Other Spreadsheets
Consider FIP and Fiscal Monitor deadlines
Hard copies requiring fiscal monitor signatures
Physical copy & electronic copy sent to fiscal monitors who forward them to FIP after review
Manual entry

33. FIP JV Processing Errors will cause delays in processing.
Tips to avoid common errors:
Make sure index is valid (i.e., not termed, etc.).
Make sure username is authorized to post.
Double-check account numbers.
Make sure account hasn’t been termed.
Use the correct spreadsheet (JE16 vs. JED, etc).
Make sure transaction date is in the current open period.

34. Upload Templates

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