Fiscal Year 2024 (FY24) Close - Dates & Actions
The University’s Fiscal Year 2024 (FY23FY24) ends Friday, June 30, 2024. The processes outlined below include important dates and actions that require Department’s attention to ensure a successful year-end.
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Identifying the Correct Fiscal Year ADD MINIMUM $ VALUE FOR THIS?
Please refer to the attachment for further examples.
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June Close Dates – see details below
1st June close – ThursdayMonday, July 68, 20232024
2nd June close – ThursdayMonday, July 1315, 2023
3rd June close – FridayMonday, July 2829, 2023
Prior to 30 June 2024 and ongoing –
Ensure you are identifying the correct fiscal year for all transactions
Open purchase orders - Accounts Payable has contacted departments with open purchase orders
Petty cash - General Ledger has contacted departments with Petty Cash
Fixed assets / inventory - General Ledger will contact departments with fixed assets / inventory to coordinate the asset counts.
1st June close – July 6 8 – Submit all standard month-end accounting close and year-end entries
Journal vouchers (JVs)
Interdepartmental JVs
Requests for payment (RFPs)
Income and expense accruals (FY24)
Prepaid revenue and expenses (FY25)
PCard reclasses – June statement closes Monday Wednesday, June 26
Deposit transmittals
PLUS year-end entries or corrections
2nd June close – July 1315 – Submit all year-end accounting close entries for all departments
Income and expense accruals (FY24)
Prepaid revenue and expenses (FY25)
Inventory stock take results and any adjustments
Pcard reclasses through June 26 2024 US Bank statement – All transactions in Banner Account 74510 Visa Procard Charges need to net to $0.00. Note: Finance will contact you for any purchases made on your PCard between June 26 2024 and June 30 2024 to ensure these are recorded appropriately
Other year-end entries
Review your department’s Argos Revenue & Expense reports and Transaction Detail reports
3rd June close – July 28 29 – Year-end final accounting close for Finance only
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