Chancellor’s Office Accounts Payable Activities for Year-End Closing

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Chancellors Office Accounts Payable Activities for Year-End Closing. Lauri Reilly Accounts Payable Manager, Chancellors Office Year-End Legal Training May 2010. Paradigm Shift WHAT ?. What are you crazy? What - is the purpose? What what about the June invoices? - PowerPoint PPT Presentation

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  • Chancellors Office Accounts Payable Activities for Year-End ClosingLauri ReillyAccounts Payable Manager, Chancellors OfficeYear-End Legal TrainingMay 2010

    Year-End Legal Training

  • Paradigm Shift WHAT?

    What are you crazy?

    What - is the purpose?

    What what about the June invoices?

    What June 30, really?May 2010*Year-End Legal Training

    Year-End Legal Training

  • AP Closing Activities - May

    Review Prior Year Closing Documents

    Create Calendar

    Communicate Deadlines

    May 2010*Year-End Legal Training

    Year-End Legal Training

  • AP Closing Activities - June

    Execute the plan

    Process, process, process

    Wrap it up June 29

    May 2010*Year-End Legal Training

    Year-End Legal Training

  • AP Year End Closing Check ListJune 29Final check runs, positive pay & payment postRun claim processesAudit, budget check & postJune 30Data entry cutoffAudit, budget check & postValidateMay 2010Year-End Legal Training*

    Year-End Legal Training

  • Validation StepsOutstanding Control GroupsGroup Status not equal to V

    Budget CheckedBudget Status equal to N

    Voucher PostVoucher Status report or Post Status = U

    Payment PostPost Status = UMay 2010Year-End Legal Training*

    Year-End Legal Training

  • After June 30, then what

    REVIEW AND ACCRUEMay 2010Year-End Legal Training*

    Year-End Legal Training

  • Accrual ProceduresRun the Query

    Review the source document

    Accrual Flag

    Create Reversing JournalMay 2010Year-End Legal Training*

    Year-End Legal Training

  • ResourcesSCO Year End Procedures Memo http://www.sco.ca.gov/ard_state_accounting.html

    AP Year-end Deadline Memo

    AP Year-end Calendar

    AP Year-end Checklist

    Validation Queries

    Accrual Query & Instructions

    Accrual Worksheet May 2010*Year-End Legal Training

    Year-End Legal Training

    FISCAL CLOSING MEMO

    RESPONSE REQUIRED

    BY JUNE 16, 2010

    DATE:

    May 12, 2010

    TO:

    Managers

    FROM:Lauri Reilly

    Accounts Payable Manager

    SUBJECT:Accounts Payable Cut Off Date

    All invoices, check requests, travel reimbursements, AP expenditure transfers and other Accounts Payable documents must be received in the Accounts Payable Office located on the 5th Floor no later than 4:00pm on Wednesday, June 16, 2010 to assure processing into fiscal year 2009-10. Documents should be properly prepared with required supporting documentation attached and approved by appropriate departmental personnel.

    Please continue to send documents to Accounts Payable after the deadline. Items received after June 16, 2010 may not be processed in time to record the expense on the June ledgers. Documents not processed will be held until the new fiscal year.

    The last Accounts Payable check run for this fiscal year will be June 29, 2010.

    The first Accounts Payable check run for fiscal year 2010-11 will be July 1, 2010.

    Should you have any questions, please contact Lauri Reilly at x1-4534, email: lreilly@calstate.edu

    2008

    Sun

    Mon

    Tue

    Wed

    Thu

    Fri

    Sat

    1

    2

    3

    4

    Send ProCard & OM Memo

    5

    6

    Last day to submit docs to AP for reverting funds

    7

    Overtime 8am- 1pm

    8

    9

    10

    11

    12

    Run Claims overnight to SCO

    13

    All docs to AP due 4pm

    Petty Cash due 4pm

    Last day to submit docs to SCO

    14

    Overtime 8am- 1pm

    15

    16

    Overtime 5pm -7pm

    17

    Overtime 5pm -7pm

    18

    Overtime 5pm -7pm

    19

    Overtime 5pm -7pm

    20

    Overtime 5pm -7pm

    21

    Overtime ALL DAY if needed

    22

    Overtime ALL DAY if needed

    23

    Finalize/Close Tvl POs

    Overtime 5pm -7pm

    24

    Procard online ready to review

    Finalize/Close Tvl POs

    Overtime 5pm -7pm

    25

    Dept Review Procard

    Finalize/Close Tvl POs

    Overtime 5pm -7pm

    26

    Dept Review Procard

    Process Ck for US Mail Services

    Process Last Office Max file

    Overtime 5pm -7pm

    27

    AP Last 07-08 check run

    Process Claims

    Last student file sent

    Last Day Purch inputs POs

    Dept Review Procard

    Overtime 5pm -7pm

    28

    Overtime ALL DAY if needed

    29

    Overtime ALL DAY if needed

    30

    Last 07-08 student ck run

    AP done entering 11am

    AP BCM & Post by 12pm

    Dept Review Procard

    30

    Purch send AP procard file DO NOT UPLOAD

    Purch Closes at 12pm

    Receiving finish all 07-08 input

    Run/Schedule 201001 Query

    June

    2008

    July

    Sun

    Mon

    Tue

    Wed

    Thu

    Fri

    Sat

    1

    Run 201001 Query

    ProCard statements due 4pm

    UPLOAD procard file

    AP begin 2008-09

    1st AP 2008-09 ck run

    Purch begin 2008-09

    Property run query fixed asset

    2

    UPLOAD procard file

    Prop Mgmt Report Due

    3

    All recons to Gen Acctg

    4

    HOLIDAY

    5

    6

    7

    Prop Report due to GA

    8

    Last day to get Jour Entries to GA

    9

    10

    11

    12

    13

    14

    2007-08 Officially CLOSED

    15

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    YEAR END CLOSING CHECK LIST

    Upload AmEx Car and Air (SWABiz & Giselles) and CO Conf Fee to General Accounting

    Last week before close, pay all CSU vendors and then put all on hold

    Run Query: COO_AP_LR_VOUCHERS_ON_HOLD

    Validate vouchers should be on hold, remove hold flag as needed to allow payments

    AP enter all vouchers, adjustments and wires

    Load PCard Vouchers

    BCM and post all groups

    Run final paycycle all banks

    Run $0.00 paycycle all banks

    Post Payments

    Run Positive File

    Budget Check ACCTLN

    Claims Processes Extract,Vchr Post, Build, Submit, Cash Transfer Letters

    Validation Steps:

    Run Query: COO_YE_BCM_STATUS_N: Items not BCMd for all Business Units needs to be empty

    Run AP Voucher Status Report Unposted status should be empty OR**

    Run Query: COO_YE_UNPOSTED_VOUCHERS should be empty. If not, use the list to change accounting date to MM/01/YYYY if you can post.

    Run Query: COO_AP_YE_UNPOSTED_PAYMENTS should be empty

    Run Query: COO_AP_YE_CONTROL_GROUPS should be no groups

    After Close is complete, remove HOLD flag from CSU Vendors

    **For month end: all items on report must have accounting date changed to mm/01/yyyy for following month.

    Vouchers on HOLD

    Control Group Status not equal to V (verified)

    Budget Check (BCM) Status = N

    Voucher Post Status = U (unposted)

    Payment Post Status = U (unposted)

    Accrual Query

    Created on 5/26/2009 3:29:00 PM Page 3 of 3

    Search for Unrecorded Liabilities

    Fiscal Year 2008-2009

    Accounts Payable:

    For the search for unrecorded liabilities, Accounts Payable is to assist the Financial Reporting group with the following:

    Accounts Payable is to enter FY 0809 at the beginning of the line description field of documents that are NOT PO related for those services performed or goods received as of June 30. If the transaction is related to next year, input FY 0910. If the time period is crossing two fiscal years, Accounts Payable is to enter FY 0809-10 at the beginning of the line description field.

    Example: See Column K

    Accounts Payable is to provide Financial Reporting with invoices on a daily basis to perform their search for unrecorded liabilities beginning on July 2 through the end of fieldwork or until the auditor provides a cutoff date.

    Accounts Payable is to provide Financial Reporting the last voucher number and any voucher numbers that were skipped before the last voucher number from the AP Open Liability Report as of June 30.

    Accounts Payable is to assist Financial Reporting gather copies of checks and invoices for sample selections for the search for unrecorded liabilities from the 1st day through the end of fieldwork.

    Accounts Payable is to run query CO_AP014 and provide an electronic copy to Financial Reporting upon request.

    Financial Reporting:

    During fiscal year 2008-2009, Financial Reporting will search for unrecorded liabilities on a daily basis by following the process below:

    1. Run query COO_AP_LR_YE_UNREC_LIABILITIES (private query only) beginning on July 2 for those vouchers with posting dates July 1 through the end of fieldwork or until the auditor provides a cutoff date.

    2. Financial Reporting will work from this query to begin their search for unrecorded liabilities. AP will provide invoices (hard copies) to Financial Reporting. One invoice represents one voucher. From this query, each voucher will be analyzed whether or not goods have been received or purchased or services have been rendered as of June 30, and for which a related expense has been incurred and recorded. (GAAP Manual Chapter 4-3) There is no threshold in searching for unrecorded liabilities.

    3. Financial Reporting will record their analysis in section called Completed From Review of Invoices of the template below. This template is taken from the query in item 1 and modified as such.

    4. Financial Reporting will run query BEN_AP_FUND_PYMNT_REGISTER (a private query) to cross reference every check on the check register and their respective vouchers have been analyzed.

    5. For the invoices not recorded or accrued for on legal basis as of June 30, invoices that are identified from July 1st to July 15 will be recorded in legal ledger, and invoices that are identified subsequent to July 15 will be recorded in GAAP ledger.

    .

    FY0809 - Aug 24-28 (wk )

    INFORMATION OBTAINED FROM QUERYCOMPLETED FROM REVIEW OF INVOICES

    (A)(B)(C)(A+B+C)

    Acctg DateGroupVoucherInvoiceInvoice DateNameAccountFundDeptAmountDescrPO #GAAP AccountCSU FundFundProgramFY 08/09AMOUNT TO ACCRUEFY 08/09AMOUNT NOT TO ACCRUE(BOOKED IN LEGAL 08/09)FY 09/10AMOUNT NOT TO ACCRUETotalCheckREFERENCE (Examples: Fiscal Year/Date services performed or goods received, journal/GAAP entry no., contact person)

    08/14/09000000943000121809607499984008/06/09ARAMARK REFRESHMENT SERVICES613001485011073$300.00water filtration rental722004485$300.00$300.00OK

    08/14/09000000943000121810607499586507/06/09ARAMARK REFRESHMENT SERVICES613001485011073$300.00water filtration rental722004485$300.00$300.00OK

    08/14/0900000094300012181499187906/04/09ARAMARK REFRESHMENT SERVICES613001485011073$300.00July lease water filtration rental722004485$300.00$300.00OK

    08/14/09000000943000121845798108/01/09CAPITOL ADVOCACY LLC613001485021057$9,500.0009/10 FY0000040017722004485$9,500.00$9,500.00OK

    08/14/0900000094300012184608040908/04/09BEACON HILL STRATEGIC SOLUTIONS613001485011001$10,000.00Additional funds0000080698722004485$10,000.00$10,000.00OK

    08/14/0900000094300012184707120907/12/09BEACON HILL STRATEGIC SOLUTIONS613001485011001$4,000.00Contractor shall determine the0000080698722004485$4,000.00$4,000.00OK

    08/14/09000000943000121848071209A07/12/09BEACON HILL STRATEGIC SOLUTIONS613001485011001$6,000.00Contractor shall engage publis0000080074722004485$6,000.00$6,000.00OK

    08/14/09000000943000121849S091216006/23/09AFB CONSULTING613001485011001$7,943.75Contractor shall provide acces0000080732722004485$7,943.75$7,943.75OK

    08/14/09000000943000121849S091216006/23/09AFB CONSULTING613001485011001$2,424.48Travel expenses0000080732722004485$2,424.48$2,424.48OK

    08/14/09000000943000121852S091215606/30/09AFB CONSULTING613001485011001$3,581.25Contractor shall provide acces0000080732722004485$3,581.25$3,581.25OK

    08/14/0900000094300012185447008/10/09CONCENTRA-CMS613001TF0821063$8,236.8007/08 FY0000040512722004496$8,236.80$8,236.80OK

    08/17/09000000943000121872ISP200907208/11/08CENIC613001485031064$4,546.0008/09 FY0000050033722004485$4,546.00$4,546.00OK

    08/17/09000000943000121872ISP200907208/11/08CENIC613001485031064$1,533.5009/10 FY0000050033722004485$1,533.50$1,533.50OK

    08/17/0900000094300012187323365407/31/09EDUCATIONAL LOAN SERVICING LLC660003481071076$1,436.28Extend Agreement (same service0000060351722004481$1,436.28$1,436.28OK

    08/17/0900000094300012187423365507/31/09EDUCATIONAL LOAN SERVICING LLC660003485011056$287.02Extend Agreement (same service0000060351722004485$287.02$287.02OK

    $0.00OK

    $0.00OK

    $0.00OK

    $0.00OK

    $60,389.080.000.00$19,949.48$0.00$40,439.60$60,389.08

    &F

    &CPage &P&R&D

  • Contact Information

    Lauri ReillyEmail: lreilly@calstate.eduTelephone: 562-951-4534May 2010Year-End Legal Training*

    Year-End Legal Training

  • www.calstate.eduMay 2010*Year-End Legal Training

    Year-End Legal Training

    *

    **

    *****The California State Universitywww.calstate.edu

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