Preparation for FY23 Year End

Now is the time to focus on on preparations for year end.  The more work that everyone gets accomplished now, the more you can enjoy the holidays, and PTO and summer.

We provide deadlines in the closing calendar to ensure we can successfully close the fiscal year and be prepared for the auditors in August.  Everything that you complete prior to a deadline helps to prevent a backlog centrally.  Please start now and do the following:

• Have you received paper or email invoices that you’ve not forwarded to Accounts Payable—do it now!  We can’t pay the bills if you’re holding the invoices.  Not to mention we receive calls and statements from suppliers about unpaid invoices, that they need to respond to.
• Centrally, Grants and Payroll are flooded with PEDS corrections in July and they’re not just June charges that are being moved.  Commit now to catch up on any corrections that need to be made for March and April.  Get May’s activity corrected in May and June.  Let’s endeavor to only process June’s PEDS corrections payroll in July.
• If you or someone you support has FY23 expense reports that have not been processed, now is a great time to get them caught up.  Any FY23 reports need to be submitted in FY23…let’s not wait and process month’s worth of business expenses in July.
• There are reminders posted affirming the deadlines for depositing money and also submitting External billing requests.

While we recognize that we communicate numerous year end deadlines, they are not arbitrary dates.  Every one of the deadlines exists because these are items that are measured by the auditors when they arrive in August.  We all must do our part to ensure that the financial statements we produce correctly represent the financial position of the university, including all FY23 revenues and expenses.