With
this issue of the FMS Newsletter Online, we hope to provide our readers
with information that will be helpful throughout the FY2007 year-end closing process.
- First day standard
reports will be available electronically on Monday, July 9 after first
closing.
- The accrued vacation
and sick liability for appointed positions (PA, PAE, PAU, PAO, and PB) in general fund and
auxiliary accounts is calculated based on the liability at December
31, 2006.
- The bi-weekly payroll
ending June 30, paid on July 13, will be accrued 100%.
- The monthly payroll
will be paid on June 29.
- Between Sunday, July 1 and Thursday, July 5, all invoices dated prior to July 1 that are entered and approved by Accounts Payable will have their associated General Ledger entries posted into period 12. After Thursday, July 5, the General Ledger entries will again be posted the day the invoice is entered into EPIC.
- Bill Overman in
FMS, woverman@indiana.edu, or (812) 855-2557, will be closing out the clearing accounts
for all campuses.
- Note that several
entries are due by a specific date. If you are utilizing TP, these documents
must be in the system and fully approved by 5:00 p.m. for the entries
to be reflected in the closing reports. Budget Administration and FMS
accounting staff will review these entries. Therefore, on the day of
each closing, entries should be completed by noon to allow for routing
and approval by these areas. If this is not possible, advise Joan Hagen
(see below) so that arrangements can be made for someone to review and approve the
documents after 5:00 p.m.
- If you do not have
access to TP, please contact your RC Fiscal Officer.
- In order to maintain
integrity of data and to eliminate the possibility of duplicate data
entry, we will not accept fax copies of documents.
- An FIS System Administrator, Kristin Brand, will be available from 1:00 PM-6:00 PM on Friday, June 29 if special approvals on financial documents are required. The System Administrator can be contacted by calling (812) 856-4574 or by sending a message to kbrand@indiana.edu . On Friday, June 29, the hours for the FIS/TP system will be 6:00 AM-9:00 PM.
- This year June 30 falls on a Saturday and thus is the end of the fiscal year. On Saturday, June 30, the automatic disapproval process will be initiated during the accounting batch cycle. If there are documents that need special approvals those will need to be fully approved by the times mentioned above for Friday.
- Please remember
that the Disbursement Voucher is not part of the automatic disapproval
process; however, if the transaction is to be posted to fiscal year
2006-2007, the document must be completely approved by Thursday, June
28.
Questions or concerns about
the closing process may be addressed to Joan Hagen. She can be reached
by telephone at (812) 855-3657 or via e-mail at jhagen@indiana.edu. |
