July 2, 2024 | FY23-24: 8th Edition
Welcome to the Fiscal Close Bulletin!
The Fiscal Close Bulletin is a limited-edition newsletter, complimentary to the Weekly Digest, issued from May to July to provide you with weekly updates and guidance related to Fiscal Close.
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| Final local approval deadline for direct retros.
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| Final local approval deadline for SCTs.
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| Last day for AP subledger transactions. (Note: Payables subledger transactions cannot be processed after this day).
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| SSAs to process inventory journal entry and submit a copy of the inventory report to BFS-ICA in Services & Support.
Department to submit non-student/non-patient AR invoices. Note: the effective date on the invoices must be the date when the services were provided or the goods shipped. For more information, see articles in Services & Support:
Claim payments from unapplied receipts for posting in period 12.
Process transactions to clear balances in departmental credit card accounts and deposit clearing accounts.
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Reminder: SSAs to process recharge transactions through RMP Recharge Application or own integration.
Reminder SSAs to process the transfer of funds to renewal & replacement reserve fund in RMP Recharge Application and provide a copy of the depreciation schedule to BFS-ICA in Services & Support.
Reminder: SSAs to process differential income distribution in RMP Recharge Application and submit copy of differential income distribution report to BFS-ICA in Services & Support.
Last day to clear balances in departmental credit card clearing accounts and deposit clearing accounts.
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| Resolve any PPM Unprocessed Costs from Recharge Operations or approved cost integrations, including cost transfers submitted in OFC before 12:00 PM.
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| All cost transfers in OFC need to be final approved by campus departments.
Last day for Receivables and PPM subledger transactions (note: subledger transactions cannot be processed after this day being closed on the next business day).
Last day to submit and final approve work-in-process journal entry for SSAs.
Last day to submit and final approve prepaid expense accrual journal entry for SSAs.
Information Only (no action by departments) - UCPath is processing 2nd interval for direct retros from July 8 to July 10 and expect to post them to PPM and GL on July 12.
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Final local approval deadline for SCTs.
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Fiscal Closing Instructions for Self Supporting Activities
- For anyone looking to review the SSA instructions document for fiscal close, a link to review the document is available: Link to Document Here.
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Reminder: Year-End Approach
To all departments, please review the Accounts Receivable (AR) Aging report located on the BAH for outstanding invoices:
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BAH.edu > Budget & Finance > Accounts Receivable Panorama > Receivables Aging Report
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Additionally, review the Incoming Payments (Receipts) report to claim payments for application against outstanding invoices:
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Fiscal Year-End Closing Reminders from IPPS
In preparation for Fiscal Year-End Closing, review the AP & Concur Accruals for Fiscal Close Blink page for information on how accruals will be processed for Concur Expenses.
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Review the Concur accrual data and ensure that expenses are allocated to the correct departmental chart string values. This data is preliminary until the ledger cutoff date of July 8, 2024. Check out the KBA: How to Allocate Expenses in Concur for more information.
- “Test” expense reports: Delete unnecessary expense reports or reduce dollar amounts down to $0.00 or a penny to avoid accruing non-actual expenses.
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To view Outstanding Card Transactions for your department, visit the Business Analytics Hub (BAH). To view all available reports related to Concur Requests, Expenses and Card charges, search “Concur” in the BAH.
- Additionally: Run, review and take action on the “Uncleared Concur AP Credit Memos” report via the Department Exceptions Panorama through the Business Analytics Hub.
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We are here to support you.
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Below are resources that are available to you through Fiscal Close.
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Call the Finance Help Line
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(858) 246-4237
Tuesdays through Thursdays
10AM - 12PM | 1PM - 3PM
Covered Topics
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The Fiscal Close Bulletin is a limited-edition newsletter issued from May to July to provide you with weekly updates and guidance related to Fiscal Close.
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