YEAR END STRATEGIES APRIL 22, 2011 UNM FISCAL YEAR END:

YEAR END STRATEGIESAPRIL 22, 2011

UNM FISCAL YEAR END:

JUNE 30, 2011

STRATEGIES FOR A SMOOTH FINISH:

WATCHING THE DEADLINES

Find the schedule on the Financial Services Resources website: http://www.unm.edu/~fssc

Updates and changes will be posted to this site weekly

BASIC STRATEGIES:

• Reconcile your indices• Correct any errors

• Meet the Year End Deadlines:• Document Submission in Banner• Supporting Document Submission

• Follow your documents’ progress• Are they approved yet?

• Banner Cleanup:• Close unneeded purchase orders• Close unused indices

RECONCILE YOUR INDICES!

Monthly is best practice

Decreases year end journal vouchers

Saves you time

Correct errors each month

KEY DEPARTMENT DEADLINES:

Item Deadline

Comment

Requisitions 5/13 Greater than $20,000 completed

Requisitions 6/10 Between $5,001 and $20,000 completed

PHAREDS deleted

6/13 System purge for items at disposition 47 created BEFORE 5/1/11

Requisitions 6/17 <$5,000 completed

DPIs 6/30 Completed in Banner

DPIs 7/5 Documents received in Financial Services

Vendor Invoices

7/57/8

Approved and sent to AP for FY11 processingLast day for AP to cut checks for FY11

KEY DEPARTMENT DEADLINES:

Item Deadline

Comment

Index Terminations

6/9 Can submit between 5/22 and 6/9

PO Change orders

6/29 Must be completed to prevent roll forward

NSAR 6/30 Data entry by departments by noon All sessions must be closed to invoice

KEY DEPARTMENT DEADLINES:Item Deadlin

eComment

Journal Vouchers 7/6 Must be through all department approval queuesDepartments locked out of JV forms in Banner/Self-Service at 5:01

PHAREDS 7/6 Submitted and at disposition 48 in order to be reviewed and processed in FY11Departments locked out of Banner form PHAREDS and Self-Service Labor Redistribution at 5:01

Material Journal Vouchers

7/8 Need to coordinate with appropriate Financial Services office

Final PCard Transactions

7/77/11

Transactions loaded into BannerReallocation of transactions that occurred on or before June 30 must be completed by 5:00

ARE THEY APPROVED YET?

Follow your documents’ progress

PHAREDS – Complete your PHAREDS – Eprint report PZROLRO to see pending View progress in routing queue in Self Service PHAREDS must be approved – contact your “on the fly” approvers

DPIs/Requisitions/JVs –

Check progress in approval queue - FOAAINP

Check for items returned for correction – GUAMESG

Remember to do SPQs for service related requisitions

DPIs

• Due to increased volume, processing can take more time

• Submit as early as possible

• Documents disapproved after

6/30 are re-dated to the new

fiscal year when corrected

JOURNAL VOUCHERS Journal Vouchers for the fiscal year ending 6/30/11 must be

dated 6/30/11

The default date is “today”

Or they will not post in the year you intended!

Journal vouchers fomrs will be disabled on Tuesday, July 6th at 5:00 pm

Departments can create JVs on Monday, July 18th

Change the date to 6/30/11

PURCHASE ORDERS

Close the ones you no longer need The small ones do not all get closed at year end When you try to close an index open POs or Reqs will prevent closure Prevent future NSF issues

EMPLOYEE PERSONNEL ACTION FORMS (EPAF)

Once the FY 12 budget and Salary Planner (mass salary update) is loaded into Banner, EPAFS that affect periods before 7/1/11 cannot be processed without assistance from your Employment Data Center of the HRPR Support Center.

If you receive an error when attempting to change an FY11 labor distribution prior to July 1st, contact your EDC or the HRPR Support Center at 277-HRPR (4777) for assistance.

UNIVERSITY HOSPITAL

All invoices to UH must go through NSAR Contact Stacie Hurley for assistance (272-5460)

There will be an three NSAR billing cycle in June to accommodate department needs 6/10 6/20 6/30

Must be within 90 days of service

UH Invoices to be uploaded on 7/7

The items we don’t know about can cause problems!

AFTER 6/30/11: (But before close)

Final Index Reconciliation Watch for new (unexpected) entries! Ask NOW, not after close

Accruals If it absolutely, positively has to be there Catastrophic Leave Annual Leave

Day Date Time Place Topic

IN SUMMARY:

You will finish strong if:

Indices are reconciled monthly

Deadlines are carefully followed

Documents are followed through to completion