Year-End Overview FY 2023

Please review the information on this page and the Important Dates page to assist in planning for fiscal year-end close. It is important that revenues and expenditures are appropriately classified and recorded in the correct fiscal year. Annually, the auditors review transactions to determine if they are properly recorded. Therefore, if goods or services are received and/or provided on or before Friday, June 30, 2023, please make every attempt to have all related documents processed by the year-end deadlines.

Highlights

Below are key dates and information to help you plan for year-end. Please refer to the Important Dates page for a complete list.

  • Interim close of fiscal year 2023 period 12 is Friday, June 30, 2023. Interim reports will be available in UAccess Analytics for this period on Saturday, July 1, 2023.
  • FY 2023 reconciliation and correction timeframe runs from Saturday, July 1, 2023, through Friday, July 14, 2023.
  • Deadline to initiate year-end documents is 2 p.m. on Friday, July 14, 2023.
  • Line Item Receiving and PREQ documents will continue to post back to Period 12 through Monday, July 10, 2023.

Annual Accounts Receivable, Inventory, Unearned Revenue, Prepaid and Accrued Expenses, and Deposits

  • Training will be offered on-demand.
  • Departments will be responsible for ensuring that balances in the system agree with supporting documentation. Please refer to the training.
  • Departments should ensure Accounts Receivable balances are clean and write off old balances that are not collectable. 
  • The deadline to submit entries and backup documentation has been extended to Friday, July 7, 2023.

Administrative Service Charge

  • Wednesday, July 12, 2023: Administrative Service Charge will post back to Period 12.
  • Saturday, July 15, 2023: Administrative Service Charge runs for Period 13.

Moveable Equipment

  • Wednesday, May 31, 2023: Deadline for moveable equipment inventory. For more information on FY 2023 Physical Inventory, please refer to the FNSV Property-Physical Inventory Microsoft Team. To request access to the Team or for inventory related questions, please visit the inventory webpage or contact FNSV-PropertyManagement@arizona.edu.
  • Friday, June 23, 2023: Deadline to submit asset retirements and transfers to Property Management for FY 2023. Campus can resume submitting asset retirements and transfers on Monday, July 17, 2023.

Payroll

  • Split payroll: the payroll, which includes the last five days of FY 2023 payroll, will be processed on Wednesday, July 12, 2023. Payroll Expenditure Listings (PELs) will be available after 10 a.m. on Thursday, July 13, 2023.
  • Thursday, July 13, 2023: Salary Expense Transfers related to the split payroll can be processed using the YEST.

Corrections identified during the reconciliation of period 12

These corrections will need to be initiated using the year-end version of the corresponding document. For example, use the Year-End Distribution of Income and Expense (YEDI) instead of the standard Distribution of Income and Expense document (DI). This chart identifies the year-end version of the standard eDocs:

STANDARD EDOC YEAR-END EDOC
Distribution of Income & Expense (DI) Year-End Distribution of Income & Expense (YEDI)
General Error Correction (GEC) Year-End General Error Correction (YEGC)
Transfer of Funds (TF) Year-End Transfer of Funds (YETF)
Salary Transfer (ST) Year-End Salary Transfer (YEST)
  • Friday, July 7, 2023: All capital equipment year-end documents with capital object codes (5750/76XX/77XX) need to be approved by 5 p.m.
  • Friday, July 14, 2023:
    • All department originated corrections need to be initiated by 2 p.m. and approved by 5 p.m.
    • Administrative Service Charge (ASC) distributions to sub-accounts, sub-object codes, and project codes can be made using the YEDI and YEGC. Documents for movement of ASC must be initiated by 2 p.m. and approved by 5 p.m.
    • All YESTs related to Salary Expense Transfers must be initiated by 2 p.m. and approved by 5 p.m.
  • Saturday, July 15, 2023: Period 12 will close.
  • Friday, July 28, 2023: Final FY 2023 period 13 close, with reports expected in Analytics on Saturday, July 29, 2023.

Year-end documents will route to the Fiscal Officer for approval. Departments can also set up Org Review if additional review by a group or individual is preferred. Refer to the UAccess Financials Reference Guides, Fiscal Officer Workflow & Delegation section for instructions. Year-end transactions feed to UAccess Analytics as they are approved and finalized and can be viewed by selecting Period 13.

Departments will have access to FY 2023 within UAccess Financials beginning Saturday, July 1, 2023 and throughout the year-end process. The standard documents (ex.: GEC/DI/ST/TF) for FY 2024 will post to period 1 starting on July 1.

Communications

  • Weekly communications with updates and reminders that are relevant for the upcoming week will be sent via the University Business Offices email list beginning on Monday, April 24, 2023.
  • We encourage anyone with financial processing duties who is not already subscribed to this email list to sign-up here.
  • Fiscal year 2023 communications will be available on the Year-End Information web page. There will also be a link in the menu within UAccess Financials.
  • Be sure to review the list of Important Dates and Deadlines.