February 26, 2020

Preparation for 2019-20 Fiscal Year End Processing

Preparation for 2019-20 Fiscal Year End Processing
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The following chart includes instructions to agencies for timely processing of 2019-20 FYE transactions:

Service Line
Fiscal Year End Activities

Accounts Payable

  • Submit transactions by March 13, 2020.
  • Resolve budget errors, PSP errors, recycled vouchers and match exceptions by March 20, 2020.
  • Enter receipts in SFS within one business day of receipt of goods or services on purchases that require receiving.
  • Indicate “Fiscal Year End” on emails to the BSC.
  • Respond promptly to invoices in Agency Review.

Travel & Expense

  • Submit transactions to the BSC by March 15, 2020.
  • Process expense reports and travel authorizations before March 15, 2020.
  • Remind Travelers to submit expense reports within 10 days of travel event.
  • Remind Supervisors to review and approve Expense Reports timely.
  • Resubmit in April any Expense Reports and Travel Authorizations that were unapproved or unposted in March, which were subsequently denied by the year end process.

Credit Card Administration

  • Ensure staff reconcile, and SFS approves, P-Card transactions for the
  • March 6, 2020 billing period by March 15, 2020.
  • Review P-Card default coding report in early March, ensure coding is accurate, and return to the BSC by early April.

Purchasing

  • Submit transaction to the BSC by March 23, 2020.
  • Designate Change Notice requests as “Fiscal Year End” for the request type.
  • Resolve budget exceptions on requisitions and purchase orders.
  • Adjust PSP methods where spending is over planned amounts.
  • Review POs to ensure there is adequate funding to pay invoices.
  • Review agency “aging” report to resolve outstanding issues for purchase orders.

 

If you have any questions regarding this announcement, please call (518) 457-4272 or use Contact the BSC and email your inquiry.