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Financial year-end timetable for year ending 31 July 2017

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 and Units in the areas noted below.

A summary of deadlines is contained in Appendix I (PDF, 280 KB). Can I please advise that you print this summary, highlight any relevant deadline(s) and use it to plan any work that may need done around this busy time. Please remember to incorporate any local staff holidays into your planning.

Expense claims

Please note that the cut-off date for salaries is Friday 14 July 2017. Could all staff ensure that where possible, as many expense claims as possible that relate to 2016/17 have been passed to Salaries by this date.

Any Expense Claims relating to 2016/17 (i.e. where the expense has been incurred before 31 July 2017) but where the forms are completed after 14 July 2017 should be clearly marked as such by writing "2016/17" at the top of the sheet and highlighting it. These forms should be passed to Salaries no later than 5pm Wednesday 2 August 2017.

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 2016/17 claims as possible could be passed to Salaries/Accounts Payable before the 14th July 2017 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 1pm Wednesday 9 August 2017.

Supplier nvoices

Non-POM (manual) invoices

All non-POM (manual) invoices for payment to suppliers that relate to the current year (whether dated pre or post 31 July 2017) should be authorised, coded and passed to Accounts Payable, Old Burgh School, Abbey Walk at the earliest opportunity and received no later than 10am Tuesday 1 August 2017. Please speak to suppliers where possible in order 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 31 July 2017. 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 31 July 2017 then the invoice should be clearly marked 'OLD YEAR' so that it can be processed in 2016/17.

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 31 July 2017 have been receipted correctly on the system by 31 July 2017. The related invoices should be received by Accounts Payable no later than 10am Tuesday 1 August 2017. Any queries please contact Accounts Payable (accpay@st-andrews.ac.uk).

E-Authorised invoices

All workflow invoices relating to goods/services before 31 July 2017 must be approved no later than 10am Tuesday 1 August 2017. 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. Any invoices placed in dispute via workflow will be withheld from payment until the dispute is resolved and invoice approved.

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 Thursday 3 August 2017. If any delays are anticipated, please advise your relevant FAS team by school.

External sales

Please ensure that we raise a sales invoice / request to invoice for any work done before 31 July so that we can recognise the income in the correct financial period. Invoices for work done / services provided after 31 July 2017 should not be invoiced until after 1 August 2017.

If after 31 July 2017 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 no later than 1pm Tuesday 8 August 2017 so that the income can be accrued.

Requests to invoice

Fully completed sales invoice requests relating to Financial Year 2016/17 should be received by the Finance Department before 1pm Monday 31 July 2017. If any delays are anticipated, please advise Janeen Hughes (Ext 2574, e-mail salesinvoicing@st-andrews.ac.uk).

Invoices directly input onto APTOS

All sales invoices directly entered into APTOS should be completed and batched before 1pm on Monday 31 July 2017. If any delays are anticipated, please advise Janeen Hughes (Ext 2574, e-mail salesinvoicing@st-andrews.ac.uk).

Accruals / prepayments

Where goods and/or services have been received before 31 July 2017, but no invoice has been received, you should provide information including the likely cost and appropriate financial code to your respective FAS e-mail addresses no later than 10am Thursday 3 August 2017. 

Where specific items of ring fenced income need to be carried forward into 2017/18, then the information relating to these must be forwarded to your relevant FAS email account at the earliest opportunity and no later than 5pm Thursday 3 August 2017.

Cash / cheques

All cash and cheques should be delivered to Finance (The ASC), 79 North Street by 10am on Friday 28 July 2017

Petty cash

All Schools / Units with petty cash floats should bring along their receipts etc and 'top-up' their float at The ASC, 79 North Street by 10am on Friday 28 July 2017.

Stocktaking

Schools and 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 Gillian Sinclair Ext 2579. E-mail finaudit@st-andrews.ac.uk.

Should you have any queries regarding any of the year-end processes please do not hesitate to contact the following individual;

Gillian Sinclair Ext 2579, e-mail gs67@st-andrews.ac.uk

Preparing the year-end financial statements and preparing for audit is very much a team effort involving all the Schools and Units so your help in meeting these deadlines is very much appreciated by all in Finance.

Thank you.

Contact

Financial Accounts

The Old Burgh School
Abbey Walk
St Andrews
Fife
KY16 9LB
Scotland, United Kingdom

Tel: 01334 462579