Year End Closing

All expense reports must be fully submitted and through departmental approvals by this date to be paid in FY24.

Last day for Accounting Journals and Accounting Adjustments impacting Grants, entered and approved by initiating departments must be in OSP queue by this date 

Last day for Payroll Accounting Adjustments that impact Grants. Transactions need to be through departmental approval workflow by 6/21. PAAs not through departmental approval workflow by 6/21, may not be approved by OSP and there is no recourse in FY24. PAAs not approved by OSP will be canceled by UVAFinance. Users can resume entering PAAs on 7/5/24.

All Accounting Adjustments and Accounting Journals affecting Capital Equipment (non-ETF) must be submitted and through departmental approvals no later than Tuesday, June 25. The Fixed Asset Team will reject/deny transactions after the cut-off. 

SFS to Run Final Batch Refunds. No student refunds 6/22 through 6/28.

Last SIS Refund Checks/ACH payments processed for the fiscal year. This activity processes SIS data from the prior business day (SIS to Workday nighly interface feed). 

Last day for Workday Payroll Costing Allocations additions/changes for MC Bi-weekly and UPG Bi-weekly (6/9-6/22) to be completed on 6/26 and ACD Bi-Weekly (6/17 - 6/30) to be completed on 7/3. There will not be time for PAAs related to these payroll runs int he current fiscal year as PAAs cut off on 6/21. Departments need to assure Costing Allocations are up to date and correct before payroll runs are completed. Users can resume entering PAAs on 7/5/24

Last day to submit Procurement contracts requiring signature (includes Contract Requests Requiring Signature and Non-Catalog Orders that are contract requests) for FY24 contract execution.

Banking activity that post to Bank of America by 6/26 will be posted in FY24 if the Ad Hoc Bank Transaction is fully approved.  All transactions not approved or recorded will be posted in FY25. Credit cards in particular have variability of when the bank actually credits the University account. 

Last day for approving Requisitions. Requisitions must be through departmental approvals by this date.  Approved requisitions will be converted to POs by the end of the fiscal year. Requisition in progress at this date will be canceled by UVA Finance and will have to be re-entered in the next fiscal year.

All supplier invoice approvals (receiving) must be done by this date to be processed/accounted in this fiscal year.

Final MC Bi-weekly and UPG Bi-weekly (6/9 - 6/22) completed. Payroll Accounting Adjustments related to the pay periods have to be entered in the new fiscal year as PAAs cut off on 6/21.  Users can resume entering PAAs on 7/5/24

Last scheduled accounting journal integration

Final settlement run will be completed by 11 AM.

All unapproved PAAs will have to be cancelled by UVA Finance. Users can resume entering PAAs on 7/5/24

All Accounting Journals and Adjustments must be approved through departmental and central workflows by 4 PM. Accounting Journals and Adjustments in progress will be canceled by Central Accounting at this time. Canceled accounting journals and adjustments can be resubmitted in the next fiscal year.  In some cases the Year-End Adjustments book code may be able to be utilized.

Final UPG and ACD Monthly (5/25 - 6/24) completed. ACD monthly will post to 7/1/2024 (FY25). Payroll Accounting Adjustments related to the pay periods have to be entered in the new fiscal year as PAAs cut off on 6/21. Users can resume entering PAAs on 7/5/24

Central to close Assets period close activity group. Lisa Layne to run Depreciation for the month.

See Period Close Events for detailed steps and timing. 

System will be down for year-end balancing and closing activities. See Period Close Event for detailed steps and timing.

Daily integration from Adaptive to WD will be suspended after this day. Integration for FY2024-25 budget will resume in FY2024-25. Any FY2023-24 budget amendments and adjustments must be entered in Adaptive by 5pm to be reflected in Workday. 

Student refund process resumes 7/1.

ACD Bi-weekly (6/17 - 6/30) completed. Will post to 7/1/24 (FY25).  Users can resume entering PAAs related to this pay period on 7/5/24

Users can resume entering PAAs to post to FY25.

Department allowed to transfer funds in same fund/function to clear deficits.  More guidance will be posted closer to year end.

Financial Reporing to process Financial Reporting Adjustment entries.