Tagged: Financial Accounting

To avoid potential accounting issues, the cut off time to approve any requisitions, supplier invoices, purchase orders, change orders, or expense reports is noon on Friday, June 30, 2023. It is highly recommended to have everything approved on Thursday, June 29, 2023. These activities may resume on July 1.   

Encumbrances for blanket purchase orders associated with fiscal year 2024 will first post to fiscal year 2023 until a manual job is run at month-end to move the encumbrance into fiscal year 2024. The process will look for any blanket purchase orders created after 4/17/23. It is also important to review the Creating a Blanket Purchase Order job aid in the Administrative Resource Center (ARC).

The "Equity Balances by Balancing/Carry Forward Worktags - Summary" report has been created as a simplified version of the "Equity Balances by Balancing/Carry Forward Worktags" report. It is intended as a high-level analysis for department leaders to run and it provides available balances by unique worktag combinations. The report provides basic information about beginning balances, transfers, revenue, expenses, and encumbrances with a remaining balance available. The report also has very few prompts which cater to a simplified user experience. 

A downloadable Year-end Checklist for Finance and Supply Chain activities is available under the "I want to..." heading, found on the  Controller page of the Business and Finance website. The checklist includes important dates and action items for FY23 year-end.