FY 2005 Year End Close Update Finance Network August 18, 2005

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FY 2005 Year End Close UpdateFinance Network
August 18, 2005
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Close Teams

• Schedule
• Accruals / Prepayments
• Procurement
• Reporting / Analysis Tools
• Communications

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Schedule

• David Hathaway

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FY 2005 Close Schedule - DRAFT
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FY 2005 Close Key Dates

• 9/13 Final submission of FY05 proposals, awards,
  and waiver requests to SPO by 500 pm
• 9/16 Requisitions to procurement
• 9/19 Final submission of all PAF forms due to
  Payroll office by 800 am
• 9/20 Final submission of miscellaneous invoice
  requests to AR by 400 pm

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FY 2005 Close Key Dates

• 9/22 Final requests to open projects (DOE and
  WFO) in FMS by noon
• 9/23 Final LETS sweep at 500 pmAll feeders due
  by 800 pm
• 9/27 Final accruals due to AP by 200 pm
• 9/28 Final divisional resource adjustments due
  in FMS and labor adjustments due in HRIS by 1000
  am

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FY 2005 Close Key Dates

• 10/7 Tentative New period opens
• New FY06 projects opened

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Accruals / Prepayments

• David Hathaway

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Accruals DOE Policy

• DOE Accounting Handbook, Chapter 11
• Liabilities recorded in financial statements
  shall reflect both invoices received, and
  accruals for any costs incurred, or assets
  received for which progress billings, grant
  reimbursement requests, and other billings have
  not yet been received.
• Maintain accounts on an accrual basis. Costs and
  revenues shall be identified with and recorded in
  the period in which they are incurred, even if
  receipt of the revenue or payment for the
  expenditure occurs in a subsequent accounting
  period.

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Accrual Policy- Manual accruals will be required

• Goods
• Items received by department, but the invoice was
  not received by AP
• Items were shipped but not received by September
  30 and the subcontract terms are FOB shipping
  point
• Services
• If the service was provided during the fiscal
  year but the invoice was not received

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Accrual Process

• The accrual procedure will be similar to previous
  years
• Liens associated with accruals will be
  automatically reduced

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Accrual Form Instructions

• Type or print clearly
• All forms must be signed by approver
• Division is accountable to retain all supporting
  documentation for audit purposes
• Track the number of forms you send using the
  Control Number Field
• Use one resource type per form

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Accrual Form (contd)

• All accruals will reverse in October
• FAX completed forms to x 5995
• AP will call you to confirm receipt of your faxed
  accrual request
• Distinguish numbers from alphas on project ids
• Form is available on Year End website

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Travel

• Manual accruals will be required if
• Relocation expenses are incurred
• Local travel over 1k is incurred
• Division does not use TAs (Travel
  Authorizations)
• Automated accruals will occur on all approved
  trips with TAs

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Non-PO Requests

• Must be received by 1000 am on Thursday, 9/22/05
  for the following
• Requests for Issuance of Check
• Stipends Honoraria
• Reimbursements

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Prepayments

• DOE Accounting Handbook, Chapter 7
• Expenses should be prepaid only when required by
  standard business practice.
• Standard business practice usually requires
  prepayment for rent, taxes, royalties,
  subscriptions, and insurance.
• Prepayments shall be expensed over the period to
  which they apply.

Prepayment form is available on the General
Accounting website.
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Division Contacts

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AP Contacts

• ALPHA BY VENDOR NAME A/P CONTACT EXT.
• A Ruth Archid 6737 
• B thru C Theresa Lee 6952 
• D thru E Lisa Oshiro 4784
• F thru G Tanya James 2519
• H Macy Yeung 7949
• I Tanya James 2519
• J thru L Theresa Lee 6952
• M Chi-Kin Lou 5976
• N Macy Yeung 7949
• O thru Q Lisa Oshiro 4784
• Regents Macy Yeung 7949
• R thru S Chi-Kin Lou 5976
• T thru U Theresa Lee 6952
• V thru Z Lisa Oshiro 4784
• Non-POs Nida Payopay 4657
• Mail, Deposits, EDI, Travel Barbara Watts 6007
• A/P Supervisor Joyce Black 4783
• A/P Supervisor Karen Mahoney 7406

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Procurement

• David Chen

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Procurement

• Accrue through Division Contacts
• One-time Purchase Orders
• Procurement Card (PCard) purchases
• Blanket/RD/IUT/PSA/Consultant
• B2B System Contracts

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Procurement One-time POs

• One-time PO Cutoff Dates
• Orders received by Receiving by 9/23 COB (630
  pm) will automatically be accrued/costed in G/L
• FOB Destination Orders received after 9/23 and
  received by COB 9/30 must be manually accrued
• FOB Shipping Point Orders not received by 9/23
  and shipped by 9/30 must be manually accrued
• Pickups Deliver Packing List/Notify Receiving by
  9/23
• Check IRIS or PeopleSoft to determine status
  charges posted by 8 am 9/24

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Procurement PCard Orders

• Procurement Card (PCard) Cutoff Dates
• FOB Destination Charges posted to the card after
  9/22 and material received by 9/30 should be
  manually accrued
• FOB Shipping Point Charges posted to the card
  after 9/22 and material shipped by 9/30 should be
  manually accrued
• Orders 1K not posted to the card by 9/22 but
  received (FOB Destination) or shipped (FOB
  Shipping Point) by 9/30 should be manually
  accrued
• Pickups Deliver Packing List/Notify Receiving by
  9/30
• Procurement uploads bank statement at 10 am 9/23
  Buyers match charges by 11 am 9/23 Charges post
  to G/L by 11 am
• G/L postings for orders posted to the card
  through 9/22 available for lookup on 9/23 (IRIS
  PCard software)

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Procurement - Blankets

• Blanket / RD Subcontract / IUT / PSA /
  Consultant Agreement Cutoff Dates
• Charges invoiced and certified by 400 pm 9/23
  will be automatically costed to September G/L
• Charges 1K incurred between 9/23 9/30 should
  be manually accrued
• Check G/L posting on IRISContact A/P
  Representative

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Procurement System Contracts

• B2B System Contract Cutoff Dates
• Orders placed and invoiced by 9/21 COB will post
  to September G/L
• Orders 1K placed after cutoff date and
  received by 9/30 should be manually accrued
• Check G/L posting on IRIS for Boise, VWR, Sigma
  Aldrich charges posted on 9/24
• See A/P Representative for others

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Reporting/Analysis Tools

• Lauretta Corsair

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Reporting and Analysis Tools

• Query Folder FISCAL YEAR END
• Queries to add/develop?
• New Query for receipt accruals under development
• Financial Systems Hot Line ext. 5588

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Communications

• Bridget Haverty

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Information Sources
ISS Close Hotline [phone] or HUN-GOTH Twice
daily close status emails to Network
distribution Web Site http//www.lbl.gov/Workplac
e/CFO/FY05_Close.html Will include the
schedule, forms, contacts and procedure and
policy documentation Today at Berkeley Lab
Announcements Beginning September 6th Will
include key deadlines and LETS Sweeps with links
to relevant details Announcements will also be
included on My Blis Portal September Network
Presentation Scheduled September 15th
A high level presentation of key changes and
dates Formal Training Classes Scheduled August
31st A more
detailed review of close functions and procedures