Year End Accounting

How to perform year-end processes to complete adjustments and prepare submissions for UW System Administration and External Auditors.


 

Fiscal Year 2021 Year End Timetable

Download 2021 End of Year Timetable  Download 2021 End of Year Timetable by Group

 

Transaction Type Due Date
External Purchase Requisition(s) for FY 2021 with a dollar amount greater or equal to $50,000 may require bidding and must be received in Purchasing Services (purch@bussvc.wisc.edu). The requisition generator tool will remain available for emergent use until it is replaced with ShopUW+, but campus departments should ensure requisitions created will be approved and submitted to Purchasing by March 26 March 26, 2021
Requisitions generated by External Requisitions Generator with all supporting materials and authorized signature must be submitting by for processing in BusPO. *Departments may need to resubmit through ShopUW+ System if this date not met. Purchasing Services will be entering purchase orders and distributing them to Vendors using existing systems through April 9. Requests for emergency purchase order processing between 3/29 and 4/9 should be made through Divisional business offices March 26, 2021
ShopUW+ Platform Launched on Campus April 16, 2021
External Purchase Requisition(s) for goods and services expected to be delivered in FY 2022 may begin to be created for FY 2022 in ShopUW+ May 3, 2021
Justification to Carryover Prior Fiscal Year POs. Campus can begin to justify PO rollover. May 3, 2021
Orders after this date and expected to be received after June 30th must be charged to the new fiscal year, FY 2022. – Purchasing Services will may every attempt to process your request but items not received by due date may be processed in next fiscal year. May 14, 2021
Purchase Requisition(s) with all approvals obtained for FY 2021 that

  • is less than $5,000
  • is PO from a Delegated department
May 28, 2021
Non-Catalog Invoices from External Vendors must be received in Accounts Payable, Suite 5301, 21 N. Park St. – Invoices may be submitted after this date, but FY21 processing is not guaranteed. May 28, 2021
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 2021. June 4, 2021
Direct Payments (DP) & Payment To Individual Reports (PIR) must be generated in ShopUW+ with all approvals – Invoices may be submitted after this date, but FY21 processing is not guaranteed. June 11, 2021
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 FY21 processing is not guaranteed. *expected to go live by April 2021 June 11, 2021
Change(s) and approval(s) to existing Purchase Orders must follow the correct procedure depending on when they were created and received in Purchasing Services. P.O.’s created prior to April 14, 2021 – Email Encumbrance Management Form (EMF) to purch@bussvc.wisc.edu or pofundingstringonly@bussvc.wisc.edu depending on the change. P.O.’s created after April 14, 2021 will need to submit a Change Request within ShopUW+ June 11, 2021
Purchasing Card – All orders must be placed early enough to allow the vendor time to process the transaction and submit the charge to US Bank on or before June 11, 2021. The turnaround time varies by merchant. Orders placed the week of June 7, 2021 may or may not post to FY 2021. June 11, 2021
Catalog (E-Commerce) Deadline – All eCommerce purchases made through ShopUW+ must be placed by end of business day June 11, 2021 to ensure the best chance that the charges are applied to FY21 funding. Orders placed after June 11 may or may not be billed to FY21 depending on product receipt and invoice date. June 11, 2021
Salary Cost Transfers (SCTs) processed through the Cost Transfer Tool for Fiscal Year 2021 must be fully approved by June 21, 2021 to guarantee entry into Fiscal Year 2021. After this cut-off date, SCT’s and Direct Retros will be processed as time permits. June 21, 2021
Internal invoices / Internal Work Order billings for supplies/services received before July 1, 2021 must be received in Accounting Services, Suite 5301, 21 N. Park St. June 21, 2021
Internal billings for supplies/services received before July 1, 2021 must be received in Accounting Services, Suite 5301,21 N. Park St. June 21, 2021
Voucher uploads must be received in Accounts Payable, Suite 5301, 21 N. Park St. – Uploads may be submitted after this date, but FY21 processing is not guaranteed. June 23, 2021
Last Day to justify Carryover of Prior Fiscal Year POs. June 25, 2021
Last Day for AP Voucher Entry June 25, 2021
Check Deposits – Must be received in Cash Management, Suite 5301, 21 N. Park St. June 25, 2021
All ShopUW+ orders must be shipped and invoices processed by June 29, 2021 to ensure charges are applied to FY21 funding. Orders invoiced after June 29, 2021 will be applied to FY22 funding. Contact for Questions: ShopUW+ Customer Service: uwsaproblemsolvers@uwsa.edu June 29, 2021
Expense reimbursement (E-Reimbursement) – Expense reports not fully approved by 6:30 pm on June 28, 2021 will not be processed for payment until July 2, 2021 and will be processed in FY 2022. June 29, 2021 Before 6:30 PM
JET and Cost Transfer Tool – Last day for June FY 2021 (period 12) journal entries June 30, 2021
JET and Cost Transfer Tool Opens for Period 13 – Accounting dates will change to July 1, 2021 (period 13) at 4:00 pm on Wednesday, June 30, 2021. All JET and Non Salary Cost Transfers submitted in the Tool after 4:00 pm June 30, 2021 through July 9, 2021 at 4:00 pm will have an accounting date of July 1, 2021 recorded in FY 2021. June 30, 2021
Department Bank Deposits – For FY 2021 postings, deposits must be picked up by armored car services or delivered to US Bank before end of day June 30, 2021. June 30, 2021
Receipt/Sales Credit Transfers – Forms for FY 2021 must be received in Cash Management, Suite 6101, 21 N. Park St by June 30, 2021. June 30, 2021
Freight – Departments who are currently using any shipping service must make sure that the funding line to be charged is valid for FY 2022. 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 freight@bussvc.wisc.edu. June 30, 2021
Central AR (Non-Sponsored) – Last day to upload invoices 6/30/2021 by 2pm. Any invoice uploaded in “READY” status by 2pm on 6/30/21 will be posted in FY21. June 30, 2021 Before 2pm
Central AR (Non-Sponsored) – Last day payments posted to open invoices June 30, 2021
JET – Last day for JRR (Revenue), entries in JET for FY 2021. July 2, 2021
Deferred Revenue – Completed forms to record deferred revenue for receipts collected in FY2021 for FY2022 activity must be received in Cash Management, Suite 6101, 21 North Park St. See Deferred Revenue policy. July 2, 2021
Non-Salary Cost Transfers processed through the Cost Transfer Tool must be approved by 4:00 PM July 8, 2021 to ensure entry for FY 2021. July 8, 2021
JET – Last day JRB (Internal Billings) and JRT (Non-salary cost transfer) entries in JET for FY 2021. July 8, 2021
JET & Cost Transfer Tool Down – JET will be turned off from July 8, 2021 at 4:00pm until July 14, 2021 to allow final clean-up for FY 2021. July 8-14, 2021
PO Encumbrances (FY2021) will begin to occur and be visible in WISER after this date. July 9, 2021
JET – First day for JRR (Revenue), JRB (Internal Billings) and JRT (Non-Salary Cost Transfer) entry for FY 2022 July 15, 2021
Cost Transfer Tool – First day for FY 2022 entry of Salary Cost Transfers or Non-Salary Cost Transfer in the Cost Transfer Tool. July 15, 2021

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.

  1. Complete the 998 Adjustment Request form.
  2. Email the form and supporting documentation to Accounting Services at journals@bussvc.wisc.edu.
  3. Journal entry is prepared and posted by business services.

Questions regarding this form can be directed to journals@bussvc.wisc.edu.

Contact

Find accounting Services

Financial Information Management
21 N. Park Street
Madison, WI 53715-1218

Call accounting services

608-262-5748

Fax accounting services

Fax:
(608) 262-5060 (Controller’s Office)
(608) 262-9681 (File Room)
(608) 265-9035 (Vendor Relations)