University of Michigan Hospitals & Health Centers



| | |

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|[pic] |Enterprise Financial Reporting |

| |2301 Commonwealth |

| |Ann Arbor, MI 48105-2945 |

| |(734) 936-7812 |

M E M O R A N D U M

TO: UMHS Finance Department Managers

FROM: Bobby Hewlett, Director Finance

Shawn McIntosh, Senior Finance Manager

Sara Spicer, Senior Finance Manager

RE: FY 14 Year-End Closing Calendar

DATE: June 6, 2014

This memorandum is to inform departments of the yearend cutoffs, so that revenue and expense transactions related to Fiscal Year 2014 are reported in the proper accounting period. The following summary has been provided below as well as a calendar for reference.

|Document Type |Due Date |

|Vendor Invoices/Non PO’s(A) |June 16th 5:00pm |

|Concur Expenses |June 24th 5:00pm (must have unit approval by |

| |deadline) |

|Cash Receipts/Petty Cash |June 30th 3:00 p.m. |

|Journal Entries (B) |See below |

|Facility/Professional Charge |System cutoff June 30th |

|Processing(MiChart) | |

|Service Unit Billing Cutoff |June 30th 11:30 p.m. |

|Preliminary Departmental Reports (C) |See below |

Notes:

A) All vendor invoices and Non-PO payments related to FY14 business need to be delivered to the applicable Accounts Payable (AP) by June 16th. If you receive an invoice after June 16th that is related to June or prior send it to AP as soon as possible. Accounts Payable will be entering invoices through July 2nd. After July 2nd any invoices with a June and prior date will be accrued via journal entry. Please contact accounting as soon as possible after June 30 if you have unpaid invoices requiring accrual. Continue to check your worklist daily to ensure proper expenses hit your statements.

B) Journal entries are due to Financial Operations (jeupload@umich.edu) or via online upload (if you have access) to MPathways by June 30thth in order to make June business. Preliminary reports are planned to be available via Hospital Data Mart and Hyperion on July 10th, as well as possibly other intervals. Please review your preliminary statements immediately. Any journals related to June business generated after the June 30th cutoff date will be reviewed and processed on a material basis only. It is very important to review your FY14 statements to ensure all revenues and expenses are correctly stated.

C) Preliminary statements for June are available within the Mpathways system in the FINPROD environment under GL reports on a daily basis. Departmental Managers are strongly encouraged to retrieve preliminary reports by accessing Hyperion on the dates listed above or daily via FINPROD Reporting. If you have any questions, please feel free to contact Shawn McIntosh (5-3468), Sara Spicer (4-8183) or Bobby Hewlett (6-9367).

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