What is Fiscal Year End?

The University's fiscal year ends on June 30, 2018.  It is important, considering Generally Accepted Accounting Principles (GAAP), that transactions be recorded in the correct reporting period. Therefore, departments should submit their accounting documents to the appropriate departments prior to fiscal close processing cutoff dates listed below.

Why is Fiscal Year End Important?

Fiscal year end is a good time to ensure expenditures and revenue have been recorded to the appropriate budget(s) for the closing fiscal year. If transactions have not posted to the correct budget there are two mechanisms for correcting entries:

  1. MyFD Transactions Application - Allows MyFD users to transfer posted salary and non-salary expenditures online. Note that a MyFD expense transfer is the only mechanism for transferring posted salary transactions. There are no exceptions to this rule.
  2. Journal Voucher - Deficit, lump sum, revenue transfers and fabrications for State and Self-Sustaining budgets should be processed using the electronic Journal Voucher process. For grants and contract budgets, please use the GrantTracker deficit transfer module or send a request to GCA to make the transfer.

Deadlines:

The chart below lists the purchasing and accounting documents related to fiscal close transactions. The cutoff dates represent the last day that departments can submit documents  to allow sufficient time for processing and posting to the 2018 Fiscal Year End.  Submittal of documents well in advance of the cutoff dates will ensure timely processing.

2018 Fiscal Year End Cut-Off Dates

Keep checking this calendar for updates.

Topic

Description

Cut Off Time

Date

Processing Unit System

Ariba Orders: Major Sourcing Events

 

In order to ensure expenditures for any major purchases that do not have any existing contracts in place are charged to the expiring fiscal year, they need to be fully approved by the department and submitted to Central Office by May 15st

5:00pm

May 15th

Contact:

Steve Ebling

Ariba: 

P2I for Foreign Nationals

In order to guarantee expenditures are charged to the expiring fiscal year, Ariba payment transactions for Foreign Nationals must clear the approval process by 5 p.m. on June 13th. This allows for central office to receive, process and send required documents to the IRS.

5:00pm

June 13th

Accounts Payable

Contact: pcshelp@uw.edu

Close Ariba Open Balances

All existing purchase orders with open balances at the end of fiscal year 2018 will be carried forward into fiscal year 2019 if the budget number is still in active status.

5:00 pm

June 18th

Procurement Services

Contact: pcshelp@uw.edu

Ariba Orders: General Purchases

In order to ensure expenditures are charged to the expiring fiscal year, Ariba contract requests and requisitions need to be fully approved by the department and Central Office by June 18th.

5:00pm

June 18th

Ariba

Contact: pcshelp@uw.edu

Other Ariba Payment Transactions

In order to guarantee expenditures are charged to the expiring fiscal year, Ariba payment transactions must clear the approval process by 5 p.m. on June 18th. This allows for central office processing. 

It is possible that expenditures fully approved up to June 28th at 3 p.m. will still be charged to the expiring fiscal year. Anything after this time will be charged to the new fiscal year. 

5:00 pm

June 18th

Ariba Contact:

pcshelp@uw.edu

eTravel Contact: traveluw@uw.edu

 

Procurement Card Purchases

To ensure transactions are received and posted in PaymentNet by July 1st, we recommend ProCard purchases are made by June 20 th.

To ensure that equipment is inventoried correctly, the deadline for equipment purchases with a ProCard is June 20th.

5:00 pm

June 20th

JPMC PaymentNet

Contact: procard@uw.edu

Central Travel Account (CTA)

Central Travel Account transactions must be posted to PaymentNet by July 1st in order to be recorded in the expiring fiscal year.  We recommend CTA purchases are made by June 20th

5:00 pm

June 20th

JPMC PaymentNet

Contact: procard@uw.edu

Refund Check Requests

Used by campus departments to return funds to individuals and companies from a revenue budget.

5:00 pm

June 22nd

Accounts Payable

Contact: pcshelp@uw.edu

Ariba Invoices

In order to ensure expenditures are charged to the expiring fiscal year, orders placed in Ariba must have invoices dated June 30th or earlier in Ariba and Blanket Purchase Orders (BPO) must be fully received by the department. This allows for central office processing.

5:00 pm

July 9th

Accounts Payable

Contact: pcshelp@uw.edu

ProCard/CTA Reconciliation

Complete reconciliation in PaymentNet by July 9th.

5:00 pm

July 9th

ProCard

Contact:

procard@uw.edu

Revolving Funds

Last day to submit revolving fund replenishment request for the expiring fiscal year.  Please make sure to specify the correct fiscal year for posting.

Revolving Fund form

2:00 pm

July 10th

Procurement Services

Contact: revfund@uw.edu

Field Advance Spend Downs

 

Field advance Spend Downs must be approved by departments in the field advance portal by July 10th in order to be posted to the expiring  fiscal year.

2:00pm

July 10th

Procurement Services

fieldadv@uw.edu

MyFD Online Expense Transfers

Recommended last day for submitting expense transfers which require central office approval

4:00 pm

July 11th

MyFD

Contact: myfdhelp@uw.edu

Last day to submit expense transfers which require central office approval

4:00 pm

July 18th

MyFD

Contact: myfdhelp@uw.edu

LAST DAY for campus to submit expense transfers

4:00 pm

July 23rd

MyFD

Contact:

myfdhelp@uw.edu

DEAN'S DAY- FINAL DAY to submit expense transfers (only possible for those who have "Biennium Close Transfer (Deans/VPs)" access in ASTRA. Check your authorizations if you are unsure of your access rights.) 

4:00 pm

July 25th

MyFD

Contact:

myfdhelp@uw.edu

ISD/CTI

Recommended first cut-off day to submit ISDs and CTIs before last day for campus.  Time between this first cutoff day and last day for campus should be used to ensure all entries have posted in the system correctly.  Entries to fix incorrect postings should be done between this date and last day for campus. 

ISD Electronic Form submitted to jvreq@uw.edu

CTI Electronic Form submitted to jvreq@uw.edu

12:00pm

July 16th

Financial Reporting

Contact: jvreq@uw.edu

FASTRANS

Last day for campus to submit FASTRANS uploads for ISDs, CTIs, JVs and CTs

FASTRANS files must be named for month 12 if transactions should post to June/month 12/FY1; example: F1207071.ISD (even when submitted in July, up to the Last Day deadline)   Files named for month 13 will post to July/FY2.

6:30 pm

July 23rd

FASTRANS

Contact:

help@uw.edu

Journal Vouchers

(In the note section indicate accounting month for posting and highlight in yellow the Period the JV should be recorded. i.e.: month 12 for FY 2018 or month 13 for FY 2019)

 

Use Tax Corrections

Requests submitted to the Tax Office for review.

12:00pm

July 13th

Procurement Desktop Reports (PDR)

Contact: pcshelp@uw.edu

JVs submitted to JVReq for upload

Electronic Form submitted to jvreq@uw.edu

12:00pm

July 16th

Financial Reporting

Contact: jvreq@uw.edu

Grant, Contract and Gift Budgets

(includes deficit transfers submitted through Grant Tracker or using the Deficit Transfer form)

12:00pm

July 16th

GCA

Contact: gcahelp@uw.edu

LAST DAY for campus to submit Final Adjusting JVs to jvreq@uw.edu

12:00pm

July 23rd

Financial Reporting

Contact: jvreq@uw.edu

DEAN'S DAY: Final Adjusting JVs for Deans and VPs Only

Forms submitted to jvreq@uw.edu

12:00pm

July 25th

Financial Reporting

Contact: jvreq@uw.edu

Cash Transmittals (CT)

for monies deposited to the bank by June 30, 2018

CTs submitted to Banking and Accounting Operations for upload

Electronic Form submitted to bankrec@uw.edu

12:00pm

July 16th

Banking and Accounting Operations

Contact: bankrec@uw.edu

LAST DAY for campus to submit Final Adjusting CTs

Electronic CT form submitted to bankrec@uw.edu

12:00pm

July 23rd

Banking and Accounting Operations

Contact: bankrec@uw.edu

DEAN'S DAY: Final Adjusting CTs for Deans and VPs Only

Electronic CT form submitted to bankrec@uw.edu

12:00pm

July 25th

Banking and Accounting Operations

Contact: bankrec@uw.edu