Office of Business Operations

Year End Closing Schedule

 

UNI's e-Business Suite Closing Schedule - FY 2021

This is a list of important dates and notes pertaining to the closing of FY 2021. It is essential that we adhere to this schedule so that transactions can be recorded in the appropriate fiscal year. The date listed on the closing schedule is the latest date in which relevant documents can be received in the appropriate department.

 

Procurement and Accounts Payable

Users are encouraged to continually review their encumbrance balances and contact Bethany Schulte in the Office of Business Operations (3-2197) as soon as possible with Purchase Order (PO) numbers if encumbrances need to be relieved. Encumbrances for all GEF accounts should be $0. The PO Expected Receipts Report is a useful tool to review these encumbrances.

Please wait to make FY22 purchases until July 1, 2021. Encumbrances in non-general fund accounts on June 30, 2021 will carry forward to FY22 budget.

Procurement card charges reflected on the June 25, 2021 statement will be applied to FY21. Procurement card vouchers will be assigned on June 28, 2021, there is sufficient time to submit June charges for processing in the current fiscal year, i.e. no later than July 6, 2021. Cardholders who do not submit their procurement card charges by the cut off will have their departmental default account charged for the June statement expenses.

Departments are encouraged to make FY21 purchases on their procurement card no later than June 14, 2021. Charges made to the procurement card after this date may be charged to the FY21 budget, based on whether they make the June 25 cutoff.

As a reminder, all invoices and RFPs sent to Business Operations for charges incurred during FY21 will be charged to the FY21 budget, even if they are received after the identified deadline and prior to the close of the general ledger for June 2021.

Please check your Statements of Account regularly as accounts are updated nightly.

 

Accounts Receivable

If goods are sold, services provided, or events held in FY21, the invoice must be completed by July 6 using a GL date of JUN-2021 (FY21) so the revenue is recorded in the correct FY.

If services will not be provided, or the event will not be held until FY22, do not complete the invoice until July 1, 2021 or later using a GL date of JUL-2021 (FY22) so the revenue is recorded in the correct FY.

Be careful from July 1 to July 6 to use the appropriate GL date, as both JUN-2021 (FY21) and JUL-2021 (FY22) will be open and the system will default to JUL-2021 (FY22). 

 

FY 2021 Closing Schedule

 
Due in Department/ DeadlineDocument/Action Department Due To
Monday, May 3 – Tuesday, June 1, 2021Submit requests for organization code changes to account code combinations effective July 1, 2021.Tonya Gerbracht
Friday, June 11, 2021 Last day approved Purchase requisitions accepted for general fund. As a reminder - All capital equipment purchases of $5,000 or more should use a requisition/PO unless otherwise approved for purchase with a P-Card.Business Operations Procurement Services
Monday, June 14, 2021Recommended last day for P-Card purchases charged to FY21 budgets.Business Operations - Accounts Payable
Saturday, June 12, 2021End of pay period for hourly merit, hourly P&S, all overtime, off-duty, and shift pay charged to FY21 budgets.Business Operations - Payroll
Wednesday, June 16, 2021Last day Student Employment Approval Forms (SEAF) can be submitted for student wages to be charged to FY21 budgets.Business Operations - Payroll
Friday, June 18, 2021Approved PAFs received before or on this date will be charged to FY21 budgets.Human Resources
Friday, June 18, 2021Last day to purchase from I-Procurement stores.Business Operations Procurement Services
Saturday, June 19, 2021End of pay period for student wages charged to FY21 budgets, including students using Empower time clock.Business Operations - Payroll
Wednesday, June 30, 2021Last day Cash Receipts (deposits for FY21) accepted. Deposits should be to the Cashier’s Office no later than 4.Business Operations - Cashiers
Wednesday, June 30, 2021Last day to take delivery of goods and services charged to FY21 budget.All University Departments
Wednesday, June 30, 2021Last day to sell goods or provide services and have the revenue recorded in FY21.All University Departments
Thursday, July 1, 2021First day purchase requisitions for general fund accounts to be charged to FY22 budgets.All University Departments
Thursday, July 1, 2021First day you may complete an AR invoice for goods sold, services provided, or events held in FY22.All University Departments
Tuesday, July 6, 2021Last day Request for Payment, Travel Expense Vouchers (approved in workflow), and invoices for all PO purchases charged to FY21 budgets accepted.Business Operations - Accounts Payable
Tuesday, July 6, 2021Journal entries for UNI interdepartmental services, i.e., DOR, Mail Center, Car Pool & Telephone Charges posted and available for review on Statements of Account.Financial Accounting/Reporting
Tuesday, July 6, 2021Last day to receive in Oracle for PO purchases delivered by June 30 and prior.All University Departments
Tuesday, July 6, 2021Last day P-Card Vouchers (approved in workflow) charged to FY21 budget accepted, INCLUDING June 21.Business Operations - Accounts Payable
Tuesday, July 6, 2021Last day Labor Distribution Adjustments for FY21 accepted by Payroll.Business Operations - Payroll
Tuesday, July 6, 2021Last day to complete the invoice for goods sold, services provided, or events held in FY21.Business Operations - Accounts Receivable
Tuesday, July 6, 2021Last day Journal Entries and Labor Distribution Adjustments for grants accepted by Research and Sponsored Programs.Research and Sponsored Programs
Thursday, July 8, 2021All invoices entered and available for review on Statements of Account. 
Friday, July 9, 2021FAMIS Charges available for review on Statements of Account. 
Friday, July 9, 2021Last day Adjusting Journal Entries for FY21 accepted.Financial Accounting/Reporting
Monday, July 12, 2021Last day Budget Fund Transfers for FY21 accepted.Budget Office