Year-End Closing Schedule

Revised Monday, June 15, 2020.

Pre-Closing

Monday, June 1 Generation of the following reports:
  1. General Funds Budget Reversion Report by RC
  2. Outstanding Orders by RC
  3. Negative Cash Balances for 20-66 Accounts
  4. Prior Year Report of June Activity by RC
  5. General Ledger—FMS Only
  6. General Fund Balance Sheet
Tuesday, June 30 Last day for billing and encumbrance transactions.

First Closing

Friday, July 3

Indiana University recognizes Independence Day.

Monday, July 6

First closing at 5 P.M. Entries submitted to FMS for posting due in by noon.

Post AP Accrual for invoices processed between Wednesday, July 1 and Sunday, July 5 that are dated June 30 or prior.

Tuesday, July 7

Publish the First Closing Standard Reports.

Campuses/Central Administration generate the following Closing reports:

  1. General Funds Budget Reversion Report by RC
  2. Outstanding Orders by RC
  3. Negative Cash Balance Listing for 20-66 Accounts
  4. Positive Cash Balance Listing for 20-66 Accounts
  5. Summary of General Fund Income by RC
  6. First Day Standard Reports to all Accounts (Budget, ICR, & Inactive Reports Not Printed at First Closing)
  7. Fund Statement
  8. General Ledger—FMS Only
  9. General Fund Balance Sheet
Thursday, July 9

Run June Depreciation (batch process sets create date for assets created from July 1 through July 9 to June 30, 2020) – Run beginning of batch.

Friday, July 10

Invoices date June 30 or prior should be submitted for processing so they are included in the second AP Accrual prior to Second Close.

Second Closing

Monday, July 13

NACUBO Virtual Annual Conference Begins

Wednesday, July 15

Post AP Accrual for invoice processed between Monday, July 6 and Tuesday, July 14 that are dated June 30 or prior.

Friday, July 17

REVISED DATE

Second closing at 5 P.M.

  • Last day for 68 Clearing Account Entries.
  • All auxiliary vouchers must be entered and approved.

NACUBO Virtual Annual Conference Ends

Monday, July 20

REVISED DATE

Campuses/Central Administration generate the following Closing reports:

  1. General Funds Budget Reversion Report by RC
  2. Listing of Transactions Posted After First Closing
  3. Negative Cash Balances for 20-66 Accounts
  4. Positive Cash Balances for 20-66 Accounts
  5. Fund Statement
  6. General Ledger–FMS Only
  7. General Fund Balance Sheet

 

Final Closing

Thursday, July 23

Final closing at 5 P.M. Entries submitted to FMS for posting due in by noon.

 Friday, July 24 Publish the Final Closing Standard Reports.

Campuses/Central Administration generate the following Closing reports:
  1. General Funds Budget Reversion Report by RC
  2. Listing of Transactions Posted After Second Closing
  3. Outstanding Orders List by RC
  4. Negative Cash Balances for 20-66 Accounts
  5. Positive Cash Balances for 20-66 Accounts
  6. Summary of General Fund Income by RC
  7. Distribute MOS, MOD, Inactive Report, ICR, and All Budget Reports
  8. Final Fund Statement
  9. Final General Ledger–FMS Only
  10. General Fund Balance Sheet

Run June Depreciation again (if needed).

 

CAMS Final Snapshots - Run end of batch (Tuesday 1am).

Monday, July 27

Run Reset Annual Depreciation for CAMS - New Process from Kuali beginning FY 2018.

 

CAMS process FY 2020 transactions.

 Wednesday, July 29 Run July Depreciation - Run beginning of batch.

Carry Forward Balances to Fiscal Year 2021

 July 27-31 FMS posts general ledger and labor ledger encumbrance and beginning balances for FY 2021.