Fiscal Year End Reminders

We’re entering into an exciting season…Fiscal Year End.  It’s a time when we successfully wrap-up the activities of FY21 and get things started for FY22.  As always, it’s very important that we finish FY21 strong, accurately, and in a timely fashion.  Leading up to year end, we have shared information about FYE in prior Business Matters and at the June 9th Business Forum.  Here we just want to remind you of certain key dates:
External Billing – are due to Bursar’s Office by July 7.

Internal Billing transactions – these transactions must be loaded through JET by July 8.  Only internal billing corrections should be posted after this date.

Pcard transactions –all Pcard transactions (through 6/30 transaction date) need to be verified by July 21.  This will allow your financial approver to approve them by the July 23 deadline.

Expense Reports – all travel and expense reports (for expenses occurring through 6/30) need to be submitted by July 21.  This will allow your financial approver to approve them by the July 23 deadline.

Payroll Accounting Corrections – all corrections impacting GL accounts must be received by Payroll by July 23 at 5PM.  All corrections for Grants accounts (PTA’s) must be received by Finance by July 28 at 5 PM.

Invoices and Payment Requests – all FY21 payment Requests must be entered and approved in BobcatBUY by July 23 at 5PM.  Also, be sure that all FY21 invoices and direct payment requests are sent to accounts.payable@ohio.edu by July 23 at 5 PM.

JET correction journal entries – all FINAL JET entries (both GL and Grants) must be uploaded by July 29 at 10 PM.

REMINDER – If financial approvers will be out of the office on critical approval dates, please ensure they have setup proxy users that can approve transactions for FY2021 in their absence so that transactions post in the proper fiscal year!

We will begin our close processes for June on July 30 in preparation for posting Final June Indirect Cost Distribution (IDC) entries on August 2.

More information will be posted related to the process and timing of year-end closeout and balance rollforward processes, which will be available in the next edition of Business Matters.