Monthly Close Activities

Monthly Close Activities in Workday Financials

January 31 Cutoff

Monthly close activities will be performed on January 31^st. Please be advised of the following deadlines and cut-offs:

Accounting Journals will be closed on Tuesday, January 31^st at 4pm. All Accounting Journals must be approved by Tuesday, January 31^st at 4pm, otherwise they will be canceled by Central Accounting as they will prevent the period from being closed. Users are encouraged to enter all Accounting Journals by Monday, January 30^th to allow sufficient time for approvals. Canceled accounting journals can be copied and resubmitted in the next accounting period when it becomes available (see below). Accounting Adjustments (e.g. supplier invoice and expense report adjustments) will be closed on Tuesday, January 31^st at 4pm. All Accounting Adjustments should be approved by Tuesday, January 31^st at 4pm, otherwise, they will post to the next accounting period, when approved. Going forward, UVA Finance will require Accounting Adjustments in progress to be canceled at quarter-end and year-end only. Payroll will be closed on Tuesday, January 31^st at 4pm. All Payroll Accounting Adjustments should be approved by Tuesday, January 31^st at 4pm, otherwise, they will post to the next accounting period, when approved. All other activity groups and transaction types will be closed on Tuesday, January 31^st at 5pm. Users can continue to enter and approve expense reports, requisitions, purchase orders, ad hoc payments, banking transactions, customer invoices, etc. until this time to be posted in the current period. Any pending/unapproved operational transactions at cut-off will post to the next period when approved.

• Thank you for your cooperation and adherence to these deadlines. As we become more comfortable with the new system, UVAFinance may adjust deadlines and cut-offs in the future.

  Integrations:

• Last scheduled Accounting Journals Integration (SIS, FM, Fundriver) for the month will be on Monday, January 30^th at 7:00pm.
• Last scheduled Supplier Invoice, Customer Invoice, ISD, and SIS Misc Payments integrations for the month will run on Monday, January 30^th from 6:30pm to 7:00pm.
• The February period will be opened on Tuesday, January 31^st around 5pm. Users can continue to process Accounting Journals, Accounting Adjustments, as well as all other transactions at this time to be posted to the February period. Note that the Accounting Date for all transactions must be in the February period as January will be closed which may require the default Accounting Date to be changed to January.