Policy Steward: 
Director of Business Services
Format Updated: 
University Policy & Standards Converted: 
Revision Date: 
Thursday, December 9, 2010

* This information replaces FIS 801-02 Fiscal Year End Processing of SIS Accounts Receivable


Each year, the Office of Business Affairs distributes Year End Closing instructions with specific dates and deadlines for that year.

For inclusion in the current fiscal year accounting records, all accounts receivable transactions to be entered by Business Affairs must be received by the date specified in the year-end closing instructions.

All entries of SIS accounts receivable transactions must be completed by the last working day in June.

Note:  All of the revenue and expense accrual Journal Vouchers entered in the current fiscal year must be reversed during July of the new fiscal year by using a July transaction date. Use Rule Code 3JV1 for accrual entries during period 14 and a June 30 transaction date.  Use rule code 3JV1 to reverse accrual with July date.