Number: 
03-150-410
Type: 
Rule
Policy Steward: 
Director of FA&A
Format Updated: 
University Policy & Standards Converted: 
Status: 
Current
Revision Date: 
Thursday, December 9, 2010

* This information replaces FIS 801-15 & 801-16 Fiscal Year End Expenditure & Revenue Review

 

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

801-15 Expenditure Review

Throughout the fiscal year, but in particular by period 12, units must review expenses appropriate for funding type.

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.

801-16 Revenue Review

See FIS-Ex003-17: External Receipts Account Code Guidance. 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.