Tagged: Payroll Accounting

For the month of August, departments are charged for one half of the nine-month rate for their nine-month faculty. To properly expense August salary, best practice is to use the costing dates of 08/15/2022 to 08/31/2022. This will ensure that costing prorates properly for the half month of pay.

Encumbrance updates for 9-month faculty (the adjustment to convert encumbrances from 12 months to 9 months) are still being calculated. Updates are anticipated to be finalized by mid-July.