Timetable for finance staff

Year End Timetable: July 2013Circulation:Finance StaffI am listing below the most important activities that need to be completed for the production of the accounts along with names whoown that activity. It is very important that during the early weeks of the new financial year, transactions are input to the correct year;so, if a substantial transaction relating to the old year comes to light after a deadline has passed, please let me know.A separate communication will be sent out to all Deans, Associate Deans and Faculty Business Managers that will inculde importantdates by which year end related activitiies are required to be completed. This communication will also be published in th weekly e-news that will ensure all staff have access to the timetable.Please note that as in previous years we will have two additional periods (P13 and P14) to enter data related to old year. AccountsPayable and Accounts Receivable will be open for old year transactions until Friday 16 August when Period 13 closes and after thatonly the General Ledger will be open for journal entries to be entered in the old year in Period 14.Accounts Payable/CreditorsAuthorised invoices including OTCs (One Time Creditors) and Urgent Payments received from faculties and departments after Friday26 July, should be sorted into 2012/13 or 2013/14 and posted to the correct year. Faculties will be told to submit for processing, allold year invoices to Finance by 02 August, however the last day for input is 16 August. All invoices received after that date should beentered in period 201401 (Faye James).Scrutinise July invoices to identify any payments, including projects, relating to 2013/14 and prepare reversing/prepayment journalsaccordingly. The materiality limit should be £1,000. (Angela Chen/Mike Farley)By 16 August prepare and enter (in period 13) schedules of other non-Bought Ledger items (review of cash book transactions) to beprovided as creditors. The materiality limit should be £1,000. (Angela Chen/Mike Farley)Accrual journals for Rents and Rates will be written by Roger Broughton and Utilities by James Read. These journals will be posted byAngela Chen.All journals for accommodation accrual and prepayments will be written by JamesRead and posted by Angela Chen.During P13, Accounts Payable will continue to post invoices in 2012/13 based on 'goods received date' and other relevant informationon the invoice (Faye James).PLEASE NOTE ALL ACCRUAL JOURNALS WILL BE POSTED BY ANGELA CHEN TO PREVENT DUPLICATION.After the closure of period 13 the scrutiny should be limited to amounts over £5,000. Angela Chen will scrutinise only General ledgercodes for accrual. Management Accountants will review project balances for accruals. Accrual entries for General ledger codes are tobe made up to 31/08/2013. Management Accountants in particular, please check with Angela if they are included in her listing.Purchase Card Electronic Logs and Staff Expense Claims.Faculties will be told to submit Travel Expense claims for 2012/13 as soon as possible after year end. However all claims received after09 August will be processed as 2013/14 expenditure. Staff expenses file uploaded to Agresso up to w/c 13 August will be updated toPeriod 13 (Barbara Milburn). Purchase card electronic logs are expected to be received by 8 August and will be updated in Period 13.There will be an opportunity for faculties to identify any additional creditors for 2012/13 when they are sent commitment reports onMonday 19 August. (Angela Chen)BankAll cheques and cash are to be banked by 31 July (Ann Marie Marsh).Obtain statements of cash floats from float holders by 5 August (Ann Marie Marsh)Completion of cash book postings to 31 July by 5 August (Ann Marie Marsh)Bank reconciliations to 31 July are to be completed by 16 August (Angela Chen)Schedule of deposits and accrued interest to be completed by 16 August (Kevin Barber)Schedule of deposits with bank details including addresses and contact name to be sent to Mazars for bank balance confirmation w/c5 August (Kevin Barber)Shaila Shastry 02 07 2013 Page 1 of 4

Year End Timetable: July 2013Accounts Receivable/DebtorsDebtor invoice requisitions received in August are to be sorted into 2012/13 and 2013/14, by reference to the information on therequisition and posted to the correct period. Please note that invoices raised for services provided after 31 July will be accounted forin 2013/14. All 2012/13 invoice requisitions are due to be received in Finance by 2 August; however, all requisitions received in up to16 August and related to 2012/13 should be entered in 201313 (Nikki Kirby).A reminder note will be sent to all SOP users to ensure that income is accounted in the correct year. Please use 201313 for income tobe accounted for 12/13 and 201401 for income to be accounted for in 13/14 (Nikky Kirby).By 16 August prepare and enter (in period 13) schedules of non-Sales Ledger items (review of cash book) to be provided as debtors.The materiality limit should be £1,000. (Angela Chen)After the closure of period 13 the scrutiny should be limited to amounts over £5,000. As with purchase invoices Angela will accrueincome on any General ledger to avoid duplication. (Angela Chen)General ledger codes will include cost centres beginning with numbers. Cost Centres beginning with C*, E* will be reviewed byTony West and R* will be reviewed by James ReadScrutinise receipts during July to identify those relating to 2013/14, and prepare reversing journals accordingly. The materiality limitshould again be £1,000 (Angela Chen)Scrutinise online receipts during July to identify those relating to 2013/14, and prepare reversing journals accordingly. Please avoidduplication especially with respect to online fee and deposit payments. Check with James Read to ensure completeness. (AngelaChen)JournalsAll 2012/13 correction and recharge journals are due to be received in Finance by 5 August, and entered in period 12. However,journals received after that date relating to the old year should be entered into period 13 until it is closed on 16 August. (AngelaChen).All other Journals relating to Period 13 and Period 14 are expected to be in Financial Accounts by the end of the day before periodclose at the latest, to allow time for input. (All)Fixed AssetsEquipment additions and disposals for 2012/13 are to be completed by Friday 09 August. (Angela Chen)Control AccountsAll reconciliations are to be completed by 16 August. (Angela Chen/Ann Marie Marsh)Employment Costs/Payroll TotalsThe statement summarising employment costs and the reconciliation of payroll totals to salary totals in the accounts should beprepared by 6 September (Angela Chen)ProjectsJournal entries to ‘close’ projects are to be completed by 30 August (Management Accounts).CompaniesAll necessary payments by or to subsidiary companies are to be processed and banked by 31 July.Completion of accounts for subsidiary companies by 30 August (Simon Youell).Shaila Shastry 02 07 2013 Page 2 of 4

Year End Timetable: July 2013Timetable of Year End Activities in date orderI have also included a timetable listing the activities in chronological order.Date ActivityJULY 2013Wed 31 All cheques/cash receipts to be banked AMMAll necessary payments by or to subsidiary companies to be processed so as to eliminate intercompanySYdebtors/creditors.Production of standard month end commitment reportRDAll order cancellations to be up to dateHBAUGUST 2013Fri 02 Subsystems 201313 open until 16 August. RDLast ‘official’ date for receipt of debtor requisitions to Finance, but until the close of period 13(16 Aug) all old year transactions should still be input to period 201313.Last ‘official’ date for receipt of creditor invoices within Finance, including OTC transactions paid Faculties/FJ/ACthrough Bought Ledger.Mon 05 Cashbook to be posted SS/AMMProduction of period 12 reports. Reports to exclude commitments.RDObtain statement of cash floatsSS/AMMAll data entry to period 12 to finish at 3:00pmAllGeneral Ledger Periods 201312 close, 201313 open 201401 open.RD[From now until 16 Aug all old year transactions for General Ledger are to be input to period201313 all new year transactions to period 201401]Last ‘official’ date for receipt of internal recharges and journals by e-mail to Finance, but untilthe close of period 13 (16 Aug) all old year journals should still be input to period 13.Faculties/ACThu 08 Last ‘official’ date for receipt of purchase card electronic log sheets within Finance. Faculties/AC/MFFri 09 Last date for the receipt of Staff Expense Claims for 12/13 AMMCompletion of equipment additions and disposals schedule.ACFri 16 Completion of all Control Account reconciliations AC/AMMCompletion of bank reconciliationsAMM/ACCompletion of deposits/interest schedule and accrualsKJBStock Returns from faculties and departmentsSSClose period 13, 201313 (subsystems closed for 2012/13) General Ledger, Open Period 14, RD201314.Budget holders compliance statement to be sentWL/SSMon 19 Commitment schedules to Faculties/Departments to include period 13 transactions. Submission SS/ACdate: 30st of AugustBad/Doubtful Debt provisionSSMon 26 Bank HolidayWed 28 Last date for receipt of notification of additional creditors from faculties/departmentsFaculties/SS/ACFri 30 Completion of faculty/Services project closing balances RA/SSShaila Shastry 02 07 2013 Page 3 of 4

Year End Timetable: July 2013Timetable of Year End Activities in date order (continued)Date ActivitySEPTEMBER 2013Fri 06 Completion of accounts for subsidiaries-BUHT,Sport, BPE SYCompletion of accounts for UWE (unconsolidated)SSFinal completion of Summary of Employment Costs 2012/13ACFinal reconciliation of payroll totals to accounts salary totals in Income & Expenditure Account. ACCompletion of first draft consolidated accountsSSMon 9 Draft Govenors’ Report / Governance Statement/OFR WL/SS/AOFri 13 Reconciliation of Financial Accounts v Management Accounts SS/RAMon 23 Start of final external audit visit Mazars/SSMazars/SYMazars/SYMazars/SSOCTOBER 2013Mon 07 Final Audit clearance meeting Mazars/UWEMon 14 Final comments from Auditors to be received Mazars/SSMon 14 Draft Management Letter and Highlights Memorandum from Mazars Mazars/WLMon 21 Draft Financial Statements, Highlights Memorandum, Management letter to Treasurer WL/SSMon 21 Circulation for Finance & IT Committee(Financial Statements and Management Letter) SSThu 24 Meeting with Treasurer with final comments WL/Lay TresurerMon 28 Finance & IT Committee WLThur 31 Student debtors latest update(July debts) Mazars/SSNOVEMBER 2013Mon 04 Audit Committee papers to be circulated (Management Letter) SSMon 11 Audit Committee WLMon 18 Board of Governors- papers to be circulated SSTue 26 Board of Governors(Financial Statements,Management Letter, Management Representation WL/SSand Assurance Letter)Financial accounts for the following to be made available for signatureWL/SSWL/SSWL/SSDECEMBER 2013Mon 02 Submission of Accountability Returns to HEFCE- outturn and 13/14 forecast SSFri 20 Submission of HESA & HE-BCI Return SS/RBIShaila Shastry 02 07 2013 Page 4 of 4