Monthly Close Activities

Monthly Close Activities in Workday Financials

May Cutoff Dates

Monthly close activities will be performed on May 31^st. Please be advised of the following deadlines and cut-offs: Accounting Journals, Accounting Adjustments, Payroll, and Expenses will be closed on Wednesday, May 31^st at 4pm.

• All Accounting Journals must be approved by Wednesday, May 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 Tuesday, May 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).
• All Accounting Adjustments should be approved by Wednesday, May 31^st at 4pm, otherwise, they will post to the next accounting period, when approved.
• All Payroll Accounting Adjustments should be approved by Wednesday, May 31^st at 4pm, otherwise, they will post to the next accounting period, when approved.
• All Expense Reports should be approved by Wednesday, May 31st at 4pm, otherwise, they will post to the next accounting period, when approved.

All other activity groups and transaction types will be closed on Wednesday, May 31^st at 5pm. Users can continue to enter and approve 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. The June period will be opened on Wednesday, May 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 June period. Note that the Accounting Date for all transactions must be in the June period as May will be closed which may require the default Accounting Date to be changed to June.

• 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.
  
  Regards, 
  
  The UVAFinance Team
  Integrations:
• Last scheduled Accounting Journals Integration (SIS, FM, Fundriver) for the month will be on Tuesday, May 30^th at 7:00pm.
• Last scheduled Supplier Invoice, Customer Invoice, ISD, and SIS Misc Payments integrations for the month will run on Tuesday, May 30^th from 6:30pm to 7:00pm.