* This information replaces FIS 801-05 Fiscal Year End Processing of Travel
Each year, the Office of Business Affairs distributes Year End Closing instructions with specific dates and deadlines for that year.
All travel advances and reimbursements for travel incurred up through June 30 must be included in the current fiscal year accounting records. The reimbursement requests must be processed through TRES by the date specified in the current year’s closing schedule.
Airfare purchased in the current fiscal year with departure dates in the new fiscal year must be reflected in the new fiscal year accounting records. The Office of Business Affairs processes the airfare billings from the travel agencies. Any expenses that have not posted by period 12 close should be put on the accrual spreadsheet.
When a trip spans the end of one fiscal year (June 30) and the beginning of the next fiscal year, there are various options for processing the reimbursement.
Option 1: The amount of the trip that has not already been processed can be entered on the Accounts Payable Accrual Spreadsheet Report so the total cost is recorded in the fiscal year the trip began.
Option 2: Final travel costs are not recorded until the reimbursement is processed in the fiscal year when the trip ended.