2008 End of Year Accounting Timetable
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MEMORANDUM
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From:
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Catherine Yeung
Acting Director, Financial Control
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To:
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Deans, DVC's, Directors, Heads of School
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Date:
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13 October 2008
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Subject:
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2008 End of Year Accounting Timetable
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The 2008 End of Year Accounting Timetable is being issued to:
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ensure Faculties, Division's are aware of key dates by which transactions need to be processed to be included in the 2008 financial reports;
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advise of accounting & PO arrangements over year end;
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to ensure that UNSW's year-end financial statements are able to be produced in a timely and accurate manner to meet statutory and Audit Office requirements.
PURCHASE ORDER PROCESSING
Pre Christmas Close
All purchase orders to be included in 2008 must be entered and completed by COB Wednesday 17th December 2008. It will not be possible to enter new purchase orders from that date. However, it will be possible to process receipts of goods & services received in 2008 until COB Thursday 8th January 2009.
As at Thursday 8th January 2009, all open bulk orders will be closed or cancelled. All open orders which have had at least one invoice processed against them will be closed or cancelled. All open orders relating to the period before 30th June 2008 unless proven to be still awaiting delivery, will be closed or cancelled.
The remaining open orders as at Thursday 8th January 2009 will be carried over into the 2009 budget year.
New Year
To facilitate end of year processing and to ensure financial commitments are reflected in the correct financial year, the purchase order system will be unavailable for use and for the creation of new purchase orders until Monday 12th January 2009. This includes the creation of 2009 bulk purchase orders.
However, if an urgent and critical purchase order is required to obtain goods and services or travel bookings, access to the system will remain with staff in Head Office Accounts Payable (Purchasing). These staff will undertake purchasing on your behalf.
Please forward an approved Purchase Requisition form and relevant documentation to Lisa Christie, Purchasing Services Officer, on facsimile number 9385 3707 or alternatively she may be contacted on 9385-3330.
PURCHASING CARD TRANSACTIONS
Pre Christmas Close
Travel / Purchasing cards may be used throughout the period. The last day for reconciling & posting transactions to 2008 financial year will be on COB Thursday 8th January 2009.
New Year
Any unreconciled & unposted transactions after COB Thursday 8th January 2009 will be charged to 2009 financial year.
Please call Shashi Temple-Smith, Accounts Payable Manager, on 9385 2769 if you require further information.
ACCOUNTS PAYABLE
Pre Christmas Close
All invoices, staff and student expense reimbursement claims, travel claims, Petty Cash recoups, etc; that require payment before Monday 12th January 2009 must be sent to Head Office Accounts Payable by COB Friday 5th December 2008. This will also apply to all other Accounts Payable Business Offices.
The last cheque run for 2008 financial year will be on Monday 15th December 2008.
New Year
The first cheque run for 2009 will be on Monday 12th January 2009.
PETTY CASH REIMBURSEMENT
Pre Christmas Close
Petty Cash balances must be reimbursed before end of 2008. Head Office Accounts Payable will issue petty cash reconciliation forms to all petty cash fund holders on Friday 28th November 2008. This form must be completed and returned to Head Office Accounts Payable by COB Monday 8th December 2008, together with the required petty cash recoup request form.
Please call Poonam Nand, Accounts Payable & Purchasing Officer on 9385 3357 if you require further information.
ACCOUNTS RECEIVABLE TRANSACTIONS
Pre Christmas Close
All Accounts Receivable invoices must be entered, updated and printed by COB Monday 15th December 2008.
Use of Accounts Receivable Invoicing System will be unavailable from Tuesday 16th December 2008. Under no circumstances are invoices to be raised outside of UNSW Accounts Receivable System. To assist in case of an emergency during the closing period, invoices may be raised by Head Office Accounts Receivable staff.
New Year
Accounts Receivable Invoicing System will be reopened for 2009 financial year on Monday 12th January 2009.
Please call John Hilton, Accounts Receivable Manager on 9385 8121 if you require further information.
UNSW CASHIER
The cashier will be closed for normal business from 12:00 noon on Friday 19th December 2008 and will be re-opened on Wednesday 7th January 2009.
STUDENT FINANCIALS
All 2008 bank receipt files must be processed and entered into the General Ledger by Wednesday 7th January 2009. Receipts for 2009 will be processed and entered into the General Ledger from Friday 9th January 2009.
PAYROLL (permanent and casual)
The payroll for the fortnight ending 8th January 2009 will be split, 4/10 (to be posted on 22nd December 2008) and 6/10 will be posted into the General Ledger by Thursday 15th January 2009.
STAFF VARIATION REQUESTS (FSD09 & FSD10)
Corrections for 2008 and/or 2009 entered by Client Services Accountants must be received by COB Friday 5th December 2008.
MANUAL JOURNALS
All 2008 manual journals (L30s and L50s) to be posted by Client Services Accountants must be received by COB Friday 9th January 2009, and processed by COB Tuesday 13th January 2009. Journals received after this date will be processed in 2009.
INTERNAL BILLING
Utility charges invoiced up to end November 2008 must be processed by noon Friday 19th December 2008.
All other internal charges (flat files and spreadsheet journals) to be posted by Client Services Accountants must be received by noon Friday 19th December 2008. These journals must have valid chart-field and sufficient fund. If these journals cannot be posted by COB Thursday 8th January 2009, it will be deleted and need to be imported again to be processed in 2009 financial year.
Please contact Laurie Zancanaro, Clients Services Manager on 9385 8150 if you require further information.
LEDGER CLOSE and BUDGET ROLLOVER
Pre Christmas Close
To facilitate system reconciliations and rollovers, PeopleSoft General Ledger and all subsidiary Ledgers will be closed from COB Thursday 8th January 2009 through to Sunday 11th January 2009.
Rollover of the 2008 budget ledger into 2009 financial year will occur on Sunday 18th January 2009 only for projects. Appropriation and Organisational Budgets will not be rolled over.
New Year
The PeopleSoft General Ledger and all subsidiary Ledgers will be opened for 2009 on Monday 12th January 2009.
Please contact Greg Kasch, Manager Financial Systems on 9385 3491 if you require further information.
COMMITMENT CONTROL LEDGER
Organisations (all levels i.e. schools, departments and/or units for Operating Funds e.g. OP001) and projects will be allowed to trade with a zero budget until COB Friday 27th February 2009. After that date budgets must be entered and will be set on to control initial. Budgets must be received by COB Friday 20th February 2009.
FINANCIAL REPORTING REQUIREMENTS
ACCRUALS
Expenditure incurred or income earned which exceeds $5,000 and has not been posted into 2008 General Ledger by COB Thursday 8th January 2009 must be accrued.
This should primarily only effect Business units and the University Central Administrative units. Any amounts exceeding $5,000 which are to be accrued must be completed on the attached "Accrual Journal Form " with a copy of the invoice etc, and be received by Renee Estrella (
r.estrella@unsw.edu.au) by COB Tuesday 13th January 2009.
If you require further information, please call Renee Estrella, Reporting Accountant, on 9385 8847.
PREPAYMENTS
Amounts prepaid in 2008 which exceed $5,000 are to be entered on the attached "Prepayment Journal Form " with a copy of the invoice etc, and be received by Fitri Sukarti by COB Tuesday 13th January 2009.
If you require further information, please call Fitri Sukarti, Senior Accountant, (f.sukarti@unsw.edu.au) on 9385 1729.
ORGANISATIONAL STRUCTURE CHANGES
All requests for changes to an area's structure needs to be signed off by the Dean or equivalent and forwarded to Laurie Zancanaro, Client Services Manager (l.zancanaro@unsw.edu.au) who can be contacted on 9385 8150. These changes need to be received by COB Friday 28th November 2008.
ADDITIONAL INFORMATION
Further information on the matters addressed in this circular may be obtained from the relevant contact people, otherwise please contact John McNally, Project Accountant on 9385 8151 (j.mcnally@unsw.edu.au) or Catherine Yeung, Acting Director – Financial Control on 9385 2165 (catherineyeung@unsw.edu.au).
Your assistance and support in meeting the tight deadlines required to meet the statutory requirements relating to preparation of UNSW's annual statutory accounts is greatly appreciated.
Yours sincerely
Catherine Yeung