How to perform year-end processes to complete adjustments and prepare submissions for UW System Administration and External Auditors.
Fiscal Year 2022 year-end reporting
Fiscal year-end reporting due dates
|Accounts Receivable||July 15, 2022|
|Inventories||July 29, 2022|
|Fiduciary Activities (Agency Funds)||August 5, 2022|
|Prepaid, Deferred Charges & Outflows||August 5, 2022|
|Divisional Attestation||August 31, 2022|
Note: For all submissions, we will again be using Google Docs for the Dean’s business office to upload their completed submissions. There will either be a separate folder or tab for each division. Please contact Lea Erickson for access.
Fiscal Year 2022 year-end timetable
|Transaction Type||Due Date|
|Purchase Requests for FY 2022 with a dollar amount greater or equal to $50,000 may require bidding and should be submitted in ShopUW+.||March 25, 2022|
|External Purchase Requisition(s) for goods and services expected to be delivered in FY 2023 may begin to be created for FY 2023 in ShopUW+.||April 1, 2022|
|Purchase Requests submitted in ShopUW+ after this date and expected to be received after June 30 must be charged to the new fiscal year, FY 2023. – Purchasing Services will make every attempt to process requests timely.||May 13, 2022|
|Non-Catalog Invoices from External Vendors must be received in Accounts Payable, Suite 5301, 21 N. Park Street. – Invoices may be submitted after this date, but FY22 processing is not guaranteed.||May 31, 2022|
|Check/ACH Request Forms and Gift Deposit Routing Forms must be received by UW Foundation in order to guarantee transfer to UW-Madison fund 233 projects by the end of FY 2022.||June 3, 2022|
|Direct Payments (DP) & Payment To Individual Reports (PIR) must be generated in ShopUW+ with all approvals – Invoices may be submitted after this date, but FY22 processing is not guaranteed.||June 3, 2022|
|Refund of Receipt form for money deposited with the University as a receipt or sales credit must be generated in ShopUW+ with all approvals – Forms may be submitted after this date, but FY22 processing is not guaranteed.||June 3, 2022|
|Capital Equipment Fabrications – All active fabrications are to be reviewed to confirm annual costs are accurately coded to account 4670 and that there are no impairment considerations to be addressed with Property Control. If your fabrication completed in the fiscal year please contact Property Control to initiate the financial recognition and tagging process. (Capital Equipment Procedure 3008.4 Fabricated Capital Equipment)||June 13, 2022|
|Salary Cost Transfers (SCTs) processed through the Cost Transfer Tool for Fiscal Year 2022 must be fully approved by June 20, 2022 to guarantee entry into Fiscal Year 2022. After this cut-off date, SCT’s and Direct Retros will be processed as time permits.||June 20, 2022|
|Internal invoices / Internal Work Order billings for supplies/services received before July 1, 2022 must be received in Accounting Services, Suite 5301, 21 N. Park Street.
**does not include ARBI
|June 20, 2022|
|Internal billings for supplies/services received before July 1, 2022 must be received in Accounting Services, Suite 5301, 21 N. Park Street.
**does not include ARBI
|June 20, 2022|
|Voucher uploads must be received in Accounts Payable, Suite 5301, 21 N. Park Street. – Uploads may be submitted after this date, but FY22 processing is not guaranteed.||June 22, 2022|
|Check Deposits – Must be received in Cash Management, Suite 5301, 21 N. Park Street.||June 24, 2022|
|Load last FY22 P-card file into SFS||June 25, 2022|
|Last Day for AP Voucher Entry||June 29, 2022|
|All ShopUW+ catalog orders must be received and invoices matched and processed by June 29, 2022 to ensure charges are applied to FY22 funding. Invoices matched and processed after June 29, 2022 will be applied to FY23 funding. Work with your suppliers directly to ensure delivery occurs and invoice are successfully processed before June 29, 2022.||June 29, 2022|
|Deadline to reconcile ALL purchasing card transactions (if not fully approved by 2 p.m., processing will run and “close” transactions)||June 29, 2022 by 2 p.m.|
|Expense reimbursement (E-Reimbursement) – Expense reports not fully approved by 6:30 p.m. on June 29, 2022 will not be processed for payment until July 1, 2022 and will be processed in FY 2023.||June 29, 2022 before 6:30 p.m.|
|JET and Cost Transfer Tool – Last day for June FY 2022 (period 12) journal entries||June 30, 2022|
|JET and Cost Transfer Tool Opens for Period 13 – Accounting dates will change to July 1, 2022 (period 13) at 4 p.m. on Thursday, June 30, 2022. All JET and Non Salary Cost Transfers submitted in the Tool after 4 p.m. June 30, 2022 through July 8, 2022 at 4 p.m. will have an accounting date of July 1, 2022 recorded in FY 2022.||June 30, 2022|
|Department Bank Deposits – For FY 2022 postings, deposits must be picked up by armored car services or delivered to US Bank before end of day June 30, 2022.||June 30, 2022|
|Receipt/Sales Credit Transfers – Forms for FY 2022 must be received in Cash Management, Suite 5301, 21 N. Park Street by June 30, 2022.||June 30, 2022|
|Freight – Departments who are currently using any shipping service must make sure that the funding line to be charged is valid for FY 2023. We encourage you to contact your current shipping providers to make sure the funding information has been changed. To update UPS CampusShip funding strings, email changes to email@example.com.||June 30, 2022|
|Central AR (Non-Sponsored) – Last day to upload internal and external invoices June 30, 2022 by 2 p.m. Any invoice uploaded in “READY” status by 2 p.m. on June 30 will be posted in FY22.||June 30, 2022 before 2 p.m.|
|Central AR (Non-Sponsored) – Last day payments posted to open internal and external invoices||June 30, 2022|
|JET – Last day for JRR (Revenue), entries in JET for FY 2022.||July 1, 2022|
|Deferred Revenue – Completed forms to record deferred revenue for receipts collected in FY2022 for FY2023 activity must be received in Cash Management, Suite 5301, 21 N. Park Street. See Deferred Revenue policy.||July 1, 2022|
|Resume normal P-card activity||July 5, 2022|
|Non-Salary Cost Transfers processed through the Cost Transfer Tool must be approved by 4 p.m. July 7, 2022 to ensure entry for FY 2022.||July 7, 2022|
|JET – Last day JRB (Internal Billings) and JRT (Non-salary cost transfer) entries in JET for FY 2022.||July 8, 2022|
|JET & Cost Transfer Tool Down – JET will be turned off from July 8, 2022 at 4 p.m. until July 14, 2022 to allow final clean-up for FY 2022.||July 8-14, 2022|
|PO Encumbrances (FY2023) will begin to occur and be visible in WISER after this date.||July 11, 2022|
|JET – First day for JRR (Revenue), JRB (Internal Billings) and JRT (Non-Salary Cost Transfer) entry for FY 2023.||July 15, 2022|
|Cost Transfer Tool – First day for FY 2023 entry of Salary Cost Transfers or Non-Salary Cost Transfer in the Cost Transfer Tool.||July 15, 2022|
Completing year-end roll forward adjustment request
Period 998 adjustment transactions are used to move SFS cash balances to the proper funding string for the new fiscal year operations. This guide will help you with the steps involved in preparing the form for any changes that need to be made from the current year end roll forward listing.
A journal entry, with a JR998 journal mask, is created to record this type of transaction. This entry will be posted in early August and creates your beginning balance in WISER.
- Complete the 998 Adjustment Request form.
- Email the form and supporting documentation to Accounting Services at firstname.lastname@example.org.
- Journal entry is prepared and posted by business services.
Questions regarding this form can be directed to email@example.com.
Financial Information Management
21 N. Park Street
Madison, WI 53715-1218
(608) 262-5060 – Controller’s Office
(608) 262-9681 – File Room
(608) 265-9035 – Vendor Relations