SMART Messages

SMART Logo

 
DATE June 22, 2012
Module FINANCE
Subject Hot Topic! Fiscal Year End Update for the Week of June 25th through July 1st

Important Dates for June 25th – July 1st:

25-Jun

Last payroll off-cycle 'C' for fiscal year 2012. Review any outstanding checks and process paycheck reversals prior to June 25, 2012. Any checks issued in this off-cycle will be dated June 28, 2012 and charged to fiscal year 2012. Any supplemental or paycheck reversal/adjustment transactions entered after this date will be charged to fiscal year 2013.

27-Jun

Budget check and Post payroll journals for the Thursday, June 28th off-cycle pay date.

30-Jun

Final FY 2012 credit card receipts and credit card clearing fund fees and charges via First Data, American Express, and Discover Card are processed by the State Treasurer. All transactions to this date are credited to fiscal year 2012; all transactions after this date are credited to FY 2013.

1-Jul

If entering FY 2012 Requisitions on/after this day, agency must log a Service Desk ticket requesting budget date be changed to 6/30/2012.

As the SMART Team is evaluating issues within the system and discovers problems that need to be brought to an agency’s attention, a Service Desk Ticket may be issued to your agency. Please be aware of this as a method of communication for year end problem resolution that will benefit both the agency and the SMART Team.

Informational Circular 12-P-031, Fiscal Year 2013 Payroll Contribution Rates, was released earlier today. Here is the link to the circular: http://www.da.ks.gov/ar/infocirc/fy2012/IC12p031.htm

Module Reminders

Purchasing

  • P-Card Transactions: The last P-Card transactions for FY 2012 will be loaded the evening of June 22nd. All P-Card transactions that need to be paid with FY 2012 funds must be reconciled by close of business on Monday, July 9th or have a Purchase Order created for each merchant.
    • If multiple P-Cards are used for a single merchant, you will need a PO for each merchant / P-Card combination.
    • Requisitions must be entered and saved no later than end of business on July 6th.
  • Sourcing Workbench: Continue to check the sourcing workbench on a daily basis and work any errors found there.
  • Outstanding Encumbrances: Continue to review and resolve discrepancies for any outstanding encumbrances including prior year encumbrances.
  • Open / Pending Requisitions: Open and Pending requisitions need to be reviewed and either moved forward, Canceled or Closed. Reminder: The Requisition must be approved and sourced to a PO. The subsequent PO must be Approved, Budget Checked and Dispatched by end of day on July 11th.
    • Requisitions with a header status of Approved: When the PO is closed, the Requisition Status is reverted from either "PO Dispatched" or "Received" to "Approved".The requisition line status willreflect the status prior to the PO being closed. If the line status is something other than "Approved", the Requisition header status will change from "Approved" to "Complete" once the requisition is closed either manually or through the monthly requisition close process.
  • Open Purchase Orders: Continue looking for Open POs to determine whether they should be approved. The PO must be approved before the encumbrance is generated. This is also true if a change order has been created on a Purchase Order, the change order must be approved before the encumbrance is impacted. Cancel any POs that should not be approved. Reminder: The PO must be Approved, Budget Checked and Dispatched by end of day on July 11th.
    • Navigation: Purchasing > Purchase Orders > Add/Update POs > Find an Existing Value > PO Status Search Criteria is Open
    • Navigation: Purchasing > Purchase Orders > Reconcile POs > Reconciliation Workbench > Filter Option under Status is Open
  • Monthly PO Close: The monthly PO Close batch process ran on June 3, 2012. This monthly process will not be ran during the month of July, manually close POs to release encumbrances.

Asset Management

Processing FY12 Assets: Continue to process any FY12 asset transactions and/or corrections. These must be complete by July 11th. Use a Transaction Date equal to the date the asset was put in service and an Accounting Date between 06/01/2012 and 06/30/2012 for FY 12 Transactions.

  • All capital assets (including CIP) must be in SMART.
    • This includes those added manually and via integration.
    • If your agency needs to add capital assets as part of year-end, please remember the following:
      • If the asset was not purchased in the current period, use a Transaction Date equal to the date the asset was put in service. The Transaction Date determines when the asset begins depreciating. If the default date of today’s date is accepted, that asset will begin depreciating today, which would not be correct.
      • All capital assets must have a fund code and cost. This affects CAFR reporting.
  • All adjustments, transfers, and retirements have been processed.
  • The costs should be up-to-date.
  • All capital assets must have a fund.
    • IntraUnit Transfer to correct (AM341)
  • All outstanding Interface Id’s in the AM Loader Tables have been loaded.
    • Reviewing Transaction Loader Tables job aid
    • Any unloaded Interface Id's for prior fiscal year remaining after closing will be deleted.

Accounts Payable / Travel & Expense

IMPORTANT YEAR-END INFORMATION related to FY2012 Travel entered on or after July 1, 2012 – Please share with staff responsible for entering or approving expense reports

When processing Expense Reports that should charge to FY2012 on or after July 1, 2012, agencies will continue to enter and process expense reports without making any adjustments to dates.

Following is the process that the SMART team will follow for FY2012 Expense Reports created on or after July 1, 2012:

  • The hourly and nightly Expense Report budget checking process will not be run during the month of July.
  • The SMART team will identify Expense Reports with FY2012 Expense Dates that have a FY2013 accounting date.
  • The SMART team will set the accounting date on the expense reports identified above to 06/30/2012.
  • The SMART team will run the Expense Report budget check process every day at approximately 1:00 PM.
  • Expense reports submitted after 12:00 noon each day will not be budget checked and/or processed until the next business day.

End result: Expense reports entered on or after July 1, 2012 that have Expense dates of 6/30/2012 or prior will have the accounting date set to 06/30/2012.

Agency staff should not run budget checking on any expense reports during this time period. If you have a particular expense report that needs budget checked immediately, please submit a SMART service desk ticket to accounts payable, subject “Expense Report Budget Checking”.

This should not affect processing or budget checking for Travel Authorizations for FY 2013.

Thank you,

SMART Team

 

 

Quick Links

Search the Site

Contact Us

Send us an email

Sign Up

Sign up for the SMART InfoList