Auxiliary Accounting

As the fiscal year end approaches, it is time again for auxiliary and service accounts to prepare year-end entries. In compliance with university policy, all auxiliary and service accounts are required to meet financial reporting standards based on accrual accounting principles. Accrual accounting is the process of matching revenues and expenses in a given period, in this case as of June 30, 2006. You may have to post additional accrual entries to meet those standards.

Listed below are the key dates for Auxiliary and Service accounts:

Friday, June 30	All financial documents in TP that were generated prior to June 30 and not approved as of the night of June 30 will be automatically disapproved
Wednesday, July 5	First Closing. Must enter period 12 and year 2006 on Auxiliary Vouchers to post to fiscal year 2006.
Friday, July 7	Standard Reports available on WWW. (https://www.fdrs.fms.indiana.edu/fdrs).
Thursday, July 20	ALL Auxiliary Voucher entries must be approved from reporting Auxiliary & Service Accounts. *(Note: This means all other approvals must be acquired prior* to 5:00 p.m. on this date.)**

If you have any questions, contact Michael Lewis at (812) 856-5769 or email lewisma@indiana.edu.