Timetable for finance staff
Timetable for finance staff Timetable for finance staff
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 <strong>Timetable</strong>: July 2013Accounts Receivable/DebtorsDebtor invoice requisitions received in August are to be sorted into 2012/13 and 2013/14, by reference to the in<strong>for</strong>mation on therequisition and posted to the correct period. Please note that invoices raised <strong>for</strong> services provided after 31 July will be accounted <strong>for</strong>in 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 <strong>for</strong> income tobe accounted <strong>for</strong> 12/13 and 201401 <strong>for</strong> income to be accounted <strong>for</strong> 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 be<strong>for</strong>e periodclose at the latest, to allow time <strong>for</strong> input. (All)Fixed AssetsEquipment additions and disposals <strong>for</strong> 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 <strong>for</strong> subsidiary companies by 30 August (Simon Youell).Shaila Shastry 02 07 2013 Page 2 of 4
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