Financial year-end timetable for year ending 31 July 2012
With the end of the Financial Year approaching it is essential that we move forward through the annual accounts process as smoothly as possible. By ensuring a smooth close to the old year we should be able to move into the new with the minimum of delay and disruption. In working towards this we would seek the support of all Schools & Units in the following areas.
Expense Claims
Please note that the cut-off date for salaries is Tuesday 17th July 2012. Could all staff please ensure that where possible, as many expense claims as possible that relate to 2011/12 have been passed to Salaries by this date.
Any Expense Claims relating to 2011/12 (i.e. where the expense has been incurred before 31st July 2012) but where the forms are completed after 17th July should be clearly marked as such by writing "2011/12" at the top of the sheet and highlighting it. These forms should be passed to Salaries no later than 5pm Friday 3rd August.
All external expense claims should be submitted to Accounts Payable in line with the salaries cut-off date
We would appreciate it if as many 2010/11 claims as possible could be processed before the 17th July cut-off date as this reduces the number of manual accruals that we need to make.
Credit Cards
All credit card holders please ensure that all outstanding transactions have been submitted, approved and all receipts passed to Finance by 5pm Friday 10th Aug.
Payments to Suppliers
Non-POM (Manual) Invoices
All non-POM (manual) invoices for payment to suppliers that relate to the current year (whether dated pre or post 31st July) should be authorised, coded and passed to Accounts Payable, Old Burgh School, Abbey Walk at the earliest opportunity and received no later than 10am Wednesday 8th August. Please speak to suppliers where possible to get any outstanding invoices in as quickly as possible.
Invoices that "relate to the current year" are those where the goods and/or services were delivered or received on or before 31st July 2012. This classification is made irrespective of when the invoice was issued or what date is on the invoice. Where the invoice is dated August, but the goods or service were received on or before 31st July 2012 then the invoice should be clearly marked 'OLD YEAR' so that it can be processed in 2011/12.
Any queries please contact Accounts Payable (accpay@st-andrews.ac.uk ).
POM Invoices
APTOS POM users should ensure that orders relating to goods/services received on or before 31st July 2012 have been receipted correctly on the system by 31st July 2012. The related invoices should be received by Accounts Payable no later than 10am Wednesday 8th August. Any queries please contact Accounts Payable (accpay@st-andrews.ac.uk ).
E-Authorised Invoices
All Travel Service invoices relating to travel undertaken before 31st July 2012 must be approved no later than 10am Wednesday 8th August. Any queries please contact Accounts Payable (accpay@st-andrews.ac.uk ).
Disputed Invoices
Where an invoice is in dispute, please mark it 'disputed - do not pay' before passing it to Accounts Payable. The invoice can then be properly processed onto the system but will be 'held' and not paid. Once the issue has been resolved, the disputed invoice can be released for payment if the authorised signatory sends an email to accpay@st-andrews.ac.uk requesting that the 'hold' is removed or by passing a relevant credit note to accounts payable for processing.
Where a disputed invoice is in excess of £5,000, would you please contact Pat Jones (Ext 2210, e-mail pj22@st-andrews.ac.uk) with the details.
Internal Charges
All internal Invoices/ Journals must be received by Financial Advice and Support at The Gateway at the earliest opportunity and no later than 10am Friday 3rd August. If any delays are anticipated, please advise your relevant FAS email account.
External Sales
Requests to Invoice
Sales invoice requests relating to Financial Year 2011/12 should be received by Finance Department prior to 1pm Tuesday 31st July. If any delays are anticipated, please advise Yvonne Laird (Ext 2574, e-mail salesinvoicing@st-andrews.ac.uk ).
Invoices directly input onto APTOS
All invoices should be entered onto APTOS and batched before 1pm on Tuesday 31st July. If any delays are anticipated, please advise Yvonne Laird (Ext 2574, e-mail salesinvoicing@st-andrews.ac.uk ).
If after 31st July it is realised that an invoice should have been sent but it hasn't been; please forward the details to salesinvoicing@st-andrews.ac.uk as soon as possible after that date so that the income can be accrued.
Please ensure that invoice requests are processed in the correct year, i.e if the invoice is for a service which will not be provided until after 31st July 2012, then please delay requesting the invoice until after 31st July 2012, unless advance payment is required and other timescales require more rapid action.
Accruals / Prepayments
Where goods and/or services have been received before 31st July 2012, but no invoice has been received, you should provide information including the likely cost and appropriate financial code to Financial Accounts (Ext 2650, e-mail accrec@st-andrews.ac.uk) no later than 10am Friday 3rd August.
Where specific items of ring fenced income need to be carried forward into 2012/13, then the information relating to these must be forwarded to your relevant FAS email account at the earliest opportunity and no later than 5pm Friday 3rd August.
Cash / Cheques
All cash and cheques received on or prior to 29th July, should be delivered to Finance (Cash Office) by noon on Tuesday 31st July 2012. All coin operated machines e.g. vending machines should be emptied on or immediately prior to noon on Monday 30th July and banked before noon on Tuesday 31st July.
Petty Cash
All Schools / Units with Petty Cash floats should bring along their receipts etc and 'top-up' their float at the Cash Office, Old Burgh School by noon on Tuesday 31st July.
Stocktaking
Schools & Units who carry Stock are written to separately with stocktaking instructions for the coming year. If you have stock, but have not received such instructions, or believe that you hold stocks which should be included in these arrangements please contact Pat Jones Ext 2210. e-mail pj22@st-andrews.ac.uk
Should you have any queries regarding the year-end processes please do not hesitate to contact the following individuals;
Beki Thomson Ext 2572, e-mail rmt10@st-andrews.ac.uk
Pat Jones Ext 2210, e-mail pj22@st-andrews.ac.uk
Preparing the year-end financial statements and preparing for audit is very much a team effort involving all the Schools & Units so your help in meeting these deadlines is very much appreciated by all in Finance.
Thank you.