UBCO Finance News

Note that these are the final deadlines and are subject to volume constraints – if document submission is delayed there is risk that even with the deadlines stated below high volume could jeopardize successful completion of year-end processing.

Payroll

Final timesheet for hourly Mar 16-31 pay period must be in EME2171 mail slot by 12pm March 28, 2018

Procurement Deadlines (Purchase Orders):

https://finance.ubc.ca/announcements/procurement-year-end-deadlines (previously posted)

• requests will be accepted after these dates and best efforts will be made, but there is no guarantee that processing will be completed by March 31, 2018.

Please ensure that PO Invoice payment requests give sufficient time for processing.  The stated deadline is Tuesday April 3^rd at 4:30pm, however please send in PO Invoice payment requests as soon as you can to ensure inclusion in Fiscal 2018.

Pcard Cycle Dates and Closing Dates for Fiscal Year End:

• Will be sent to the Pcard holders/coordinators once finalized.  Should be similar to previous years deadlines.

Online Payment Tool Closing Dates for Fiscal Year End:

Because OPT is a transactional system, only transactions that are fully approved will be in Fiscal 2018.  Initiators should allow time for all approvers to review OPT documents to ensure that the final reviewer (last step in the eform process visualized) is able to approve by 4:30pm Saturday March 31, 2018.  Any eforms finalized after this date will be Fiscal 2018/19 transactions.

A report will be generated at end of business March 31, 2018 of all outstanding OPT Visa (credit card) transactions as of that date.  It will be distributed to the Finance Managers the morning of April 3^rd to determine which amounts, if any, will need to be accrued for Fiscal 2018 as per the following posted procedures:

These forms are also available under OPT Learning Resources on finance.ubc.ca.  Please complete and forward your reversing accrual entry to Finance Operations EME2171 as soon as you can.  Entries must be submitted to A/P by the 4:30pm Wednesday April 4^th, 2018.

Please note that this is for GPO-related transactions only – research related P/Gs do not need to be considered as part of the process.  This accrual will reverse in Fiscal 2019 (April 2018).

Smartforms/Manual Forms

Please ensure all forms are in EME2171 as soon as possible.  A/P submission deadline is 4:30pm Wednesday April 4^th, 2018.  Forms will be accepted up until the deadline; however late forms risk not being included in Fiscal 2018 due to high processing volumes.

Payments requiring Wire Transfers or Bank Drafts

Wire Transfer/Bank Draft requisitions need to be in Vancouver Financial Operations (physically received) by Tuesday, March 20^th, 2018 to allow for processing as wire transfers are not done on the Okanagan campus.

Web Cash Receipts

Entry Deadline for Web Cash Receipts (cash/cheque deposit) is 8pm Saturday, March 31,2018 for inclusion in Fiscal 2018.

Journal Vouchers

Please ensure all Journal Vouchers are sent in as soon as possible.  A/P’s submission deadline is 4:30pm Wednesday April 4^th, 2018^.  Please ensure all JV’s include all supporting backup and are completed with correct speedcharts and account codes.  Last year, many journal vouchers were delayed due to incomplete information.

The original year end communication from Frances Tadman in Vancouver is included and it describes the system deadlines in more detail, with the attached AP Audit/ AR Audit requirement forms.

Please direct any questions you may have to Ray Fahrun directly.