chancellor’s office accounts payable activities for year-end closing
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Chancellor’s Office Accounts Payable Activities for Year-End Closing
Lauri ReillyAccounts Payable Manager, Chancellor’s Office
Year-End Legal TrainingMay 2010
Paradigm Shift – WHAT?
• What – are you crazy?
• What - is the purpose?
• What – what about the June invoices?
• What – June 30, really?
May 2010 2Year-End Legal Training
AP Closing Activities - May
• Review Prior Year Closing Documents
• Create Calendar
• Communicate Deadlines
May 2010 3Year-End Legal Training
AP Closing Activities - June
• Execute the plan
• Process, process, process
• Wrap it up – June 29
May 2010 4Year-End Legal Training
AP Year End Closing Check List• June 29• Final check runs, positive pay & payment post• Run claim processes• Audit, budget check & post
• June 30• Data entry cutoff• Audit, budget check & post• Validate
May 2010 Year-End Legal Training 5
Validation Steps• Outstanding Control Groups
• Group Status not equal to “V”
• Budget Checked• Budget Status equal to “N”
• Voucher Post• Voucher Status report or Post Status = “U”
• Payment Post• Post Status = “U”
May 2010 Year-End Legal Training 6
After June 30, then what…
REVIEW AND ACCRUE
May 2010 Year-End Legal Training 7
Accrual Procedures
• Run the Query
• Review the source document
• Accrual Flag
• Create Reversing Journal
May 2010 Year-End Legal Training 8
Resources• SCO 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 9Year-End Legal Training
Sample AP Invoice Deadline Memo
Sample AP Year End Calendar
Sample AP Year End Closing Checkllist
AP Year End Queries
Year End Accrual Query
Accrual Instructions
Sample Accrual Worksheet
Contact Information
Lauri ReillyEmail: lreilly@calstate.eduTelephone: 562-951-4534
May 2010 Year-End Legal Training 10
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