FY 2018 Year-end Closing Packet

Table of ContentsOVERVIEW................................................................................................................................................................2

PROCEDURES FOR YEAR-END REVIEW.............................................................................................................2Review of Net Balances...........................................................................................................................................2

Summary..............................................................................................................................................................2Operating Funds – Yale Designated....................................................................................................................4

Operating Funds – Gifts.......................................................................................................................................4Operating Funds – Grants....................................................................................................................................6

Non-Operating Funds..........................................................................................................................................6Other Transaction Review.......................................................................................................................................7

FP&A Year-End Review Steps & Actions Required for Planning Unit Coordinators...........................................9TRANSACTION INSTRUCTIONS (INCLUDING SYSTEM INFORMATION)..................................................10

Journal Entries.......................................................................................................................................................10Commitments.........................................................................................................................................................11

Payroll Processing.................................................................................................................................................11Payroll Accounting Adjustments (PAA)...............................................................................................................11

Payroll / Compensation Payment Adjustments.....................................................................................................12Accounts Receivable and Year-end Customer Invoicing (YSM ONLY).............................................................12

Accounts Payable and Expenses............................................................................................................................12Supplier Invoices and Supplier Invoice Requests.............................................................................................13

Expenses (P-cards and Out-of-pocket) and Advances.......................................................................................13Accruals for Accounts Payable and Expenses.......................................................................................................14

Prepaid (deferred) Expenses / Revenue Accruals and Deferrals (Planning Units only).......................................15Prepaid Expenses...............................................................................................................................................15

Accrued Expenses..............................................................................................................................................15Deferred Income................................................................................................................................................15

Accrued Income.................................................................................................................................................15Instructions for ALL Manual Entries for Prepaids, Income Accruals, and Income Deferrals..........................16

Accounting for Gifts..............................................................................................................................................16Process and Deadlines.......................................................................................................................................16

Donor Contributions Deposited to Incorrect Account.......................................................................................17YEAR-END DATES FOR TRANSACTION PROCESSING AND REVIEW.......................................................18

WORKDAY REPORTING.......................................................................................................................................23CENTRAL DEPARTMENT CONTACT PERSONS...............................................................................................26

OVERVIEW

Standard monthly closing procedures should be followed for the May and June close. Refer to the Financial Review Checklist for review steps and reports to use. This package provides additional information that is applicable to the fiscal year-end close in addition to standard monthly closing procedures.

See section “Year-end Dates for Transaction Processing and Review” (page 18) for a full schedule of all processing deadlines, allocations of detailed net balances, and reporting events.

See section “Central Department Contact Persons” for a full list of contacts, including but not limited to Business Solutions, Controller’s Office, and Financial Planning & Analysis. All technical system support questions should be submitted to the HELP DESK as follows:

1. Email: sharedservices@yale.edu2. Phone: Central: 2-9000Important information along with scheduled outages and open issues are posted online at: www.yale.edu/its/status.

Due to the conversion to Workday on July 1, 2017 and the fact that this is the first year-end close in the new system, we highly recommend extra attention be paid to May balances and that deficits be cleared and commitments settled where possible by the May month-end close.

Most of the year-end process is very similar to last year except that the work will be done in Workday versus Oracle. One notable change is the process for accruing invoices/expense reports. It is no longer necessary (nor helpful) to label invoices with the fiscal year where they should be expensed. See page 14 for more detail.

PROCEDURES FOR YEAR-END REVIEW

Review of Net Balances Summary

The institutional requirement is to close the fiscal year with a positive (or zero) net balance at the Cost Center level for each Funding Component value (Yale Designated, Gift or Grant). Distributed units are responsible for this activity mainly for the section of the fund hierarchy called “OP Funds Budgeted by Units”, but there are some additional review responsibilities discussed below. When evaluating the fiscal year-end balances and performing ongoing monitoring, please note that the COA segments often appear in most reports as a “block”. However, these segments are not a connected string of values. Users must ensure that reviews are performed using the net total of all COA combinations for a given Cost Center and Funding Component in order to fully evaluate the remaining balances (YSM departments should follow guidance to be issued separately by the YSM Controller’s Office). Be sure to adhere to any additional requirements established for your department or school/planning unit.

To Review Net BalancesFinancial reports are available directly in Workday.

(1) For Institutional Requirement at the Cost Center/Funding Component level run “Net Balances Review – Yale” (new in May/June FY2018 and will be demonstrated at kickoff)

(2) For additional detail to support local requirements run “Account Balances Detail – Yale”. Please note that cost sharing will have both a Grant and Gift/Yale Designated value. If you export and pivot for analysis, these transactions may appear in both Grant and Gift/Yale Designated activity.

2Last updated August 02, 2018

There are additional reports that will provide more detailed information. Please see the section “Workday Reporting” in this package.

Note that net balances are updated when the closing schedule references a reporting event (see definition in Reporting section of this packet) and at the final June period close. Net balances are updated based on transactions and balances in the Workday system as of 3pm.

Fund replaces Oracle’s Source Group.

There are five types of operating Funds and four types of non-operating Funds. Full details may be found in the online resources for Fund segment values. At a high level, the fund types are:

Operating Funds OP Funds Budgeted by Units Unrestricted OperatingGrants & Contracts FundsEndowment Operating FundsSpendable Gift Funds

OP Funds Budgeted by Controller

Operating Funds for Plant and GAAP

Non-Operating Funds Non-Op Funds Endowment Non-Operating FundsPlant Non-Operating FundsStudent Loan FundsOther Non-Operating Funds

You are expected to follow Planning & Financial Management (PFM) Principles to ensure that errors and unexpected activity are identified, researched, and corrected as necessary in your unit.

Please perform final validation that there are no expenses charged to unrestricted operating funds that meet the restrictions of any endowment or current use gifts assigned to your department/unit. If you identify any expenses charged that meet the restrictions of a Gift (either endowment and/or spendable), you must reclassify the income from the restricted Gift to the unrestricted Fund and related Yale Designated segment to offset the expenses that meet the restriction. This should be done using the reclassification expenditure types listed in University Accounting Manual Procedure Reclassification and Transfer of Funds. If the restricted purpose of a Gift assigned to your unit is unclear, it can be looked up in Workday or alternatively, contact Gift Accounting at giftawards@yale.edu.

When the University incurs expenses that fulfill the purpose of a restricted Gift, the restrictions are met and the University has fulfilled its obligation. Using unrestricted Funds to cover expenses that meet the restrictions of a gift while holding onto restricted gift balances misclassifies the University’s balances in the general ledger and goes against University policy and Generally Accepted Accounting Principles (GAAP) to which Yale is audited. If you are unsure if restrictions have been satisfied or would like clarification of this message, please contact giftawards@yale.edu.

After the final June balance is available, the Financial Planning & Analysis (FP&A) Office or YSM Finance will contact you regarding unresolved negative net balances at the Cost Center/Funding Component level. All deficits at this level should be resolved prior to your unit’s closing deadline.

Questions regarding balances or transactions in Funds that are not part of the distributed units’ standard review of “OP Funds Budgeted by Units” should be directed as follows:

Endowments (FD08-FD11, FD20, FD27) – Gift team at giftawards@yale.edu Plant funds (FD12 and FD17) – Capital accounting team at capitalmgnt@yale.edu Other (FD06, FD07, FD14) – General Accounting at controller.genacct@yale.edu

3Last updated August 02, 2018

4Last updated August 02, 2018

Operating Funds – Yale Designated

NOTE: In Workday, the system does not clear any YD values to zero at year-end. Any YD/Fund combinations that need to be cleared or funded to comply with institutional or local balance requirements must be done with journal entries using the linked Transfer/Reclassification guidance.

GA Fund (FD30)Determine whether all revenues and expenses in GA are appropriate based on your knowledge of the approved GA budget for the year. An additional report that can assist with this review is “Budget to Actuals for Management Office Reporting by Gift/YD/Fund – Yale”; more detailed information is available in the “Workday Reporting” section at the end of this packet.

Finally, work with your Budget Analyst to clear any unapproved, unfavorable bottom line variances, and provide explanations.

Repair, Replacement, and Alteration Contingency projects are associated with these funds and are used primarily to account for smaller repairs and facility upgrades covered out of an annual facilities repair budget. The projects are set up in your unit to ensure the proper allocation of building costs. Repair and Replacement charges and Alterations Contingency charges for June will be posted in the GL by July 13 and are expected to be funded by July 18.

Unit or School ReservesReview your reserve balances, if applicable. All unrestricted reserves should appear in YD000371 (and FD18). If you have not yet made the change, please contact your Budget Analyst. You will be expected to report on your reserve balances to the FP&A Office as part of your closing report.

Dowry Request: YSM ONLYDowry payment requests should be forwarded to David Crockett, david.crockett@yale.edu in the YSM Controller’s Office as soon as possible, but no later than June 22. Reimbursement requests will not be accepted after this date. Please estimate the outstanding transactions for FY2018 and include them with your requested amount. For example, if on June 22 all projected expenses except for one AP accrual have been processed, the requested amount should be the current balance plus the outstanding AP accrual. In your email to David Crockett, please include a brief explanation of the difference between your request and the current balance.

All dowry funding agreements should be in writing, detailing arrangements, time frame and amounts, and should be on file in the YSM Finance Office. Expenses will not be funded if documentation is not available.

Operating Funds – Gifts

All endowment operating deficits and spendable gift deficits must be cleared at the Gift level. Deficits should be cleared by moving excess expenses to another appropriate account; never by transferring or reclassifying money into a Gift. Remember, the institutional requirement for clearing deficit balances on these accounts is that each Gift must have a positive net balance by Cost Center (and Fund). For example, if more than one project or program is used with a Gift, it is acceptable if some of the programs or projects have negative balances as long as in total the Gift has a positive balance. If units or departments have additional requirements, those should be adhered to. The department should work with Gift Accounting to understand stewardship requirements. Good stewardship includes utilizing the income to the fullest extent possible within the constraints of the indenture.Endowment net balances should not be viewed as “rainy day” funds.

Requests to return unspent endowment income to principal:

5Last updated August 02, 2018

Some restricted endowment gifts may have terms that REQUIRE the reinvestment of any endowment income that has gone unspent during the current fiscal year. It is the responsibility of all Lead Administrators and Operations Managers to identify any such gifts that are held by their units. If the departments have incurred expenses that meet the restrictions of the gifts but have charged those expenses to other Funding Components (Yale Designated or Grant), the remaining unspent income should be reclassified to the Funding Component where the expenses have been charged. If the departments have not incurred expenses that meet the restrictions of the gifts then they must complete FORM 2203FR.03 Request to Reinvest Unspent Endowment Income to Principal so that Gift Accounting can process the necessary entry to reinvest the income to principal. Form must be submitted by June 29.

In cases where the reinvestment of endowment income is NOT REQUIRED by the terms of the gift agreement, FORM 2203FR.03, Request to Reinvest Unspent Endowment Income to Principal, may be used to request reinvestment and MUST BE APPROVED BY THE PROVOST . Such requests must include an explanation as to why the income is being reinvested. [YSM requests must first be approved by Cynthia Walker, Deputy Dean of Finance & Administration. Please send requests to YSM Controller’s office at ysmcontroller@yale.edu to facilitate the YSM approval process.]

In accordance with University investment policy, units will be purchased using the current month end unit market value. Submit completed form and any supporting documents to Gift Accounting at giftawards@yale.edu no later than June 29 for processing during the current fiscal year.

Requests to Decapitalize a UFFE:Use FORM 2203FR.05, Decapitalize a UFFE.This form must be completed by departments requesting the partial or complete decapitalization (liquidation) of a UFFE (University Fund Functioning as an Endowment) gift. Such requests must include an explanation as to why the gift is being decapitalized – e.g. because the gift’s purpose has been fulfilled. Requests should be approved by the department’s responsible Deputy Provost and requires authorization by the University’s Provost. In accordance with University investment policy, units will be redeemed using the current month end unit market value. [YSM requests must first be approved by Cynthia Walker, Deputy Dean of Finance & Administration. Please send requests to the YSM Controller’s office at ysmcontroller@yale.edu to facilitate the YSM approval process.]

Submit completed form and any supporting documents to Gift Accounting atgiftawards@yale.edu no later than June 29 for processing during the current fiscal year.

Request to Close Restricted Spendable Gift Where Purpose Has Been Fulfilled

1. Departments should review all restricted spendable gifts to identify any gifts for which the restricted purpose has been fulfilled. An example is a restricted spendable gift established with a donor contribution, the purpose of which was to acquire a piece of equipment, and the equipment has now been acquired.

2. If the restricted purpose has been fulfilled but the gift has a residual balance, the remaining balance may be reclassified to an unrestricted gift or recovered for unrestricted purposes, after which the gift may be closed. Please use Form 2203 FR.06, Request to Close Restricted Spendable Gift Where Purpose Has Been Fulfilled and submit to Gift Accounting at giftawards@yale.edu no later than May 25. This form requires approval by the Provost’s office (for Centrally-Supported units) or by a school’s Lead Administrator (for Self- Supported units).

6Last updated August 02, 2018

3. If the restricted purpose has been fulfilled and the gift has a zero balance it should be closed by completing the same form (Form 2203 FR.06, Request to Close Restricted Spendable Gift Where Purpose Has Been Fulfilled) and submitting it to Gift Accounting at giftawards@yale.edu no later than May 25.

Review activity in Gift # GS052996 Designated Purpose Miscellaneous Spendable GiftsReview all small (less than $25,000) restricted contributions that were received by your department and credited to gift # GS052996 during the past fiscal year by running the Financial Transactions – Yale report with this gift selected in the filters.

1. If the restricted purpose of the gift has been fulfilled and the gift has a residual balance, the remaining balance may be reclassified to an unrestricted fund or recovered for unrestricted purposes. This should be done using LA43002/RC031 on both sides of the entry and may be done by the department. No forms are required to be completed or submitted since this gift will not be closed. However, the department should have documentation supporting the fulfillment of donor restrictions. All entries should be completed prior to the FY2018 closing deadlines. If Gift Accounting review is needed, please submit inquiries to giftawards@yale.edu by May 31.

2. Any contribution within #GS052996 that will not be spent in accordance with donor restrictions in its entirety before the end of the fiscal year should be in a COA combination that provides the department with enough information to ensure proper spending stewardship in the next fiscal year. If necessary, the balance can be reclassified to a different project (or other COA segment within the department) so that the balance may be tracked in the following fiscal year. Use LA43002/RC031 on both sides of the entry. All entries should be completed prior to the FY2018 closing deadlines. If Gift Accounting review is needed, please submit inquiries to giftawards@yale.edu by May 31.

Restricted Gift COA Segment Reclassification Requests

Changes to the home cost center or default COA segments (includes department reorganizations) for a restricted gift must be submitted to giftawards@yale.edu no later than May 31. Requests submitted by this deadline will be processed and non-operating balances will be transferred by the year end close.

Restricted Gift Worktag Revision Requests

Changes to other gift worktags (such as recovery code or purpose code) must be submitted to giftawards@yale.edu no later than May 31st for proper review by the Compliance Officer. Requests submitted by this deadline will be reviewed and, if changes are approved, they will be processed by the year end close deadline.

Operating Funds – GrantsSponsored agreement overdrafts should be cleared for fiscal year-end if no additional funding is anticipated. Overdrafts are cleared by moving the expenses off of the Grant.

Note that additional information is available online regarding Grant closeouts and balances (see “Net Balance Requirements” on the COA website). However, this is not part of the standard year-end close process and is based on the individual award calendar.

Non-Operating Funds

In general, business offices do not interface with non-operating funds. However, for Planning Unit Lead Administrators there are year-end activities in certain funds that may require attention.

7Last updated August 02, 2018

Student Loan Funds (FD15, FD16)Review net balances of student loans sources for identification of deficit balances that need to be cleared. Yale University student loan deficits must be cleared at the Yale Designated/Gift and Fund level. Work with the Controller’s Office or SFAS (Student Financial and Administrative Services) if you have any question on these funds.

Plant Non-Operating Funds (Capital) (FD13)In May and June, Capital Accounting of the Controller’s Office will contact you if your unit is responsible for providing at least part of the funding for a capital project and if you have not already provided the funding.  The unit will need to provide Capital Accounting with the COA for the required funding transfer.  If requested, the COA should be provided before Friday, July 20 (JE cutoff for the JUN18-18 close) so that they are available to be funded during the June month-end process. If you need to view your CRC account for transactions or balances, the COA will include: YD000385 and your department Cost Center(s).

The FP&A Office will work with departments to ensure Self-Support School CRC (Capital Replacement Cost) transactions are completed before year-end.

Other Transaction Review

Assets and LiabilitiesAs of May 31 and June 30, review all assets and liabilities recorded in your cost center(s) based on the parameters listed below. Each asset or liability must be substantiated (fully documented) or it must be written off. Departments are responsible for retaining supporting documentation for their assets and liabilities and must be able to provide such documentation when contacted by the Controller’s Office or YSM Controller’s Office. Contact these offices if help is needed to resolve asset or liability issues or if you expect to manage asset or liability accounts that do not fall in the parameters listed here.

Use the “Assets and Liabilities – Yale” report to see balances. Use the prompt information starting on page 23 to limit your results.

For YSM departments, any adjustments to accounts receivable ledger accounts must go through the YSM Controller’s office (contact at ysminvoicing@yale.edu). Please also see the section below entitled “Accounts Receivable and Year-end Customer Invoicing (YSM only)”.

Endowment and Investment IncomeAll endowment income due you should be reflected in the fourth quarter endowment income distribution in May. If you have questions about the disposition of endowment income, contact Gift Accounting.

Non-endowment investment income, such as building rent, interest on gifts, income from trusts, etc. should be reviewed for accuracy and proper application to your unit’s accounts.

Interest & AmortizationFinal I&A for FY2018 will be posted to the GL by June 15.

Unallowable CostsYale’s expectation is for departments to ensure that controls and procedures are in place to consistently assign charges to proper accounting components (ledger account, spend/revenue category, expense/sales item). This enables the University to appropriately capture and exclude unallowable costs from the federal Facilities &

8Last updated August 02, 2018

Administrative (F&A) rate proposal and subsequent reimbursement when the F&A rate is applied to sponsored awards. If any initial costs were identified as incorrectly charged, please make corrections to the appropriate accounting components in accordance with the closing schedule.

Transactions Posted to “Other” Ledger AccountsLedger Accounts (and Spend/Revenue Categories) with “other” in the title are set up in the system to account for transactions that could not be properly recorded in any of the existing transaction-specific ledger accounts. It is important that these accounts are not used for material (significant) amounts when there are more descriptive accounts.

Department administrators are requested to pay particular attention to transactions that are posted to the below ledger accounts with the objective of classifying them into the proper specific ledger accounts. For assistance in determining the proper ledger accounts, please consult the COA website or contact the Chart of Accounts team at coa@yale.edu. Transaction information can be found using “Financial Transactions – Yale”, limiting to these ledger accounts for better performance and streamlined results.

Ledger Account # Ledger Account Name42017 Medical Services Income-Other45011 Other Fee / Service Income45016 Income-Other45022 Other Income - non-operating81051 Other Expenses

Planning Unit and Department AssessmentsInternal assessments are processed by the charging department. If you are expecting a charge, please contact the administrator of that department. These charges must be processed by July 13.

Reclassifications and Fund Transfers (including Closeouts and Deficit Funding) There are specific ledger accounts and spend/revenue categories to use for reclassifications and transfers based on the Funds involved and the underlying business circumstances. Please see the detailed accounting guidance in the University Accounting Manual for Reclassification and Transfer of Funds.

Factors to consider when selecting the proper ledger accounts and categories: These accounts almost always involve the same ledger account and category on both the debit and credit

side of the entry. When reclassifying gift balances, the transaction assumes release of restriction when moving off the Gift. Gift reclassifications should not be used to move balances between different Gifts. Internal Program Support represents planned funding arrangements. Do not use this account to

reclassify or allocate restricted gift or endowment income. Some transactions may require two steps: (a) releasing the restrictions on a Gift into a Yale

Designated and then (b) funding another unit’s programs via Internal Program Support Special attention is required when using or adding to unrestricted reserves.

As part of the year-end and periodic reviews, it is important to understand who is using or adding to unrestricted reserves, as defined by the Dean or Director of a School/Division, to fund their operations. This will allow FP&A to quickly identify when a School/Division might need additional support to sustain its program. When performing the annual close-out, the Lead Administrators of all Schools/Units must perform only these accounting transfers with LA92003/RC268 – Use of Unrestricted Reserves. These accounts are used on both sides of the accounting entry. These accounts are ONLY for the use of reserves that are discretionary and under the control of the Dean or Director of a School/Division. The Planning Unit Lead Administrators should be the only individuals

9Last updated August 02, 2018

authorizing transactions with this transfer code.

Special Note on Building ChargesMost, but not all, units have building costs being charged to cost centers in their hierarchy. Unless you are a self-support unit, it can be tempting to overlook the activity in these areas as most of the activity is centrally allocated from the Office of Facilities. However, even if you are not expected to fully control the costs of the building accounts, you do need to review them and make necessary corrections. The University’s calculation of the Finance and Administration (F&A) rate rests heavily on the costs of the buildings being correct, and thus, from an institutional point of view, it is extremely important for building costs to be accurately recorded.

You must have a general understanding of the Location costs booked to your Cost Center(s) and you need to research and understand significant variances in costs (vs budgets that were based on prior year activity). In most years, a periodic review of the building activity in comparison to prior years may be the first line of defense in discovering a defective utility meter or other problems. For the FY2018 review, due to the transition into Workday, the review will be limited to a scan for major outliers only. The majority of operating costs on building Locations are for physical plant, custodial, grounds, utilities, and fire marshal charges. The Office of Facilities is responsible for processing these charges in accordance with the ISP journal deadlines.

Location is used to capture financial transactions for University plant/buildings only. However, there are two known exceptions in Workday, which can be screened out of your detailed review.

Payroll transactions – do not contain Location as financial worktag but brings HR demographic data including an employee’s assigned Location.

System generates other “secondary” entries off payroll transactions. These will also contain the Location worktag – fringe benefit expense (LA 91001), grant revenue (LAs 41000 and 41001), and F&A cost on grants (LA 91017).

In addition to the university-wide building services projects, most building Locations also have other charges in various programs and projects. Often things such as elevator telephones are billed there. Please also review these charges in your operating funds to ensure that such charges are appropriate.

Additional information on accounting for buildings can be found in the online Accounting Manual (Link to Accounting for Buildings).

FP&A Year-End Review Steps & Actions Required for Planning Unit Coordinators

July 8thJune month end close process will populate FP working plan files with June actuals, YBT will be down for the morning while this process runs.

FY2018 Year End IP files and submission reports will be available to all target units. FY2018 Year- End IP’s can be found on the Axiom ribbon in YBT under “Institutional Planning”. FY2018 Year End Submission reports can be found on the Axiom ribbon in YBT under Reports.

Beginning July 8 th IP year end files only will be updated nightly.

Working plan files will not be updated as doing so would require the full month end close process which shuts YBT down for at least a half day. Reports with actuals will include the same data as W o r k d a y (all activity through the previous day’s cutoff) and should be used for year-end analysis.

10Last updated August 02, 2018

July 13 th All cross-Target Unit and ISP charging should be completed; this includes any transfers, assessments or internal charging.

July 30 th Central Units; August 1 st Others* IP variance explanations are due to FP&A. Please notify your financial analyst when all explanations are populated. Units’ IP submission will be considered complete when your financial analysts receive confirmation via email.

*Others includes only the following: Self-Supports (SOM, Nursing, Law, FES, and Divinity), Provost Admin, Other FAS, Other Academic Services and YSM.

The FY2018 Year End IP includes two variance comparisons and comments sections – FY2018 Budget vs. FY2018 Actuals and FY2018 Actuals vs. FY2017 Actuals. As part of the IP submission, please populate variance explanations for all material variances +/- $500,000 or +/- 20% for both variance sections. Variance explanations in IP are essential to ensure an accurate closing process. Please quantify your explanations wherever possible. For example, if tuition is over budget due to more students, please identify the number of students, the average rate and the dollars explained. Quantified variance explanations help ensure accurate data and present a clear picture of a unit’s financial situation. For additional space for providing explanations within the IP files, please use the blank tabs in the IP workbook.

In addition, review the net balances (formerly “fund balances”) within the IP Plan report to ensure that they are within the established thresholds provided by the Controller’s office.

Aug1 st Central Units; Aug 3 rd Others*

High-level year-end narrative and submission reports due to FP&A. Please submit a copy of both your narrative and submission reports as attachments to an email to your financial analyst on this date. Narratives will be compiled and submitted as a package to the VP for Finance and to the Provost.

The recommended narrative template is based on the template used during the FY2018 Q2 Forecast submission, however, units can submit their narratives in any format they choose and can vary in length depending on the unit’s complexity and level of variances. It is important, however, that each narrative address each of the areas outlined in the template.

The purpose of the narrative is not to duplicate what was already provided in the IP but to provide a programmatic summary and analysis describing the total impact for an activity which may be presented on multiple lines in the SOA. Please refer to your submission reports (specifically the F35 and L50) to support your narrative.

Submission reports due on this date are listed below and can be found in YBT under Reports > YBT Report Library > 01 University Submission > Year End Submission. There are only two reports that need to be submitted: F35 and L50 (please include the legacy data for FY2017 Actuals and FY2018 Budget).

Additional Questions regarding YBT and Year-end1) Q: What will be the communication method for YBT issues or delays, will it be posted on the YBT home page

or email sent?  A: Communications will be sent via updates on the YBT home page or depending on the degree of criticality notifications will be sent to all YBT end-users.

2) Q: When will May load into YBT?  A:  The May actuals are loaded in YBT, the home page just needed to be updated – this has been done.

3) Q:  Will actuals load into to YBT on Sat and Sunday if people are working?

11Last updated August 02, 2018

A:  After the first June close on July 7th the actuals will load daily (7 days a week) into YBT from Workday.

TRANSACTION INSTRUCTIONS (INCLUDING SYSTEM INFORMATION)

For training guides on all key Workday financials business processes and operational transactions, please see the Workday@Yale training website.

For year-end purposes, beginning on July 2nd, users will be able to create and authorize transactions for multiple periods (e.g. both June FY2018 and July FY2019) at any time. Both FY2018 and FY2019 transactions will be posted to the General Ledger daily. You will need to consider the fiscal period carefully for all transaction types, especially when submitting items to AP, approving supplier invoices, creating expense reports, preparing journal entries, and performing adjustments.

Journal EntriesSee the master closing schedule for important dates pertaining to FY2018 year-end journal transaction processing. Strict observance of these guidelines will ensure the processing of transactions in the appropriate accounting period.

Reminder: There are three journal cutoff days – July 13, July 20, and July 27 (see schedule starting on page 18). Starting July 28, the system will only allow individuals within the Controller’s Office role to make journal entries in the June period. For units that must be closed on July 20 th , the Planning Unit Lead Administrator (or their designee) is responsible for ensuring that her/his unit does not perform journal entries during the period from July 21-27. To perform this evaluation run “Find Journals by Cost Center – Yale”. Information on parameters to use is located in the reporting guide starting on page 23.Business Solutions will NOT be reviewing and rejecting journal entries as was done in Oracle.

Any journal entries in this period must be reversed. This can be done by the unit and does not require a submission to Business Solutions. Click for instructions on reversing journal entries.

Accounting corrections are necessary when erroneous transactions are posted to the general ledger. These errors can be due to improper charging instructions, incorrect dollar amounts or other issues. Best practice is to make the corrections to these transactions through the source system from which the entry originated. This will allow for the proper maintenance of the source system and preserve its integrity in relation to the general ledger. Therefore, all corrections should be made in the source system from which the error originated. When this is not possible and a manual journal entry (also known as cost transfer when a Grant worktag is involved) is needed to make the correction, all pertinent information about the original transaction should be included with the journal entry in the memo fields and attachments.

CommitmentsConsistent with all other month-ends, any open PO commitments will be carried into the new period. Manual commitments will not be carried over into the next fiscal year.

Payroll ProcessingThe final Monthly and Semi-Monthly payrolls for FY2018 will include all paid payroll transactions through June 30.

The final Weekly payroll for FY2018 will include all paid payroll transactions through Saturday, June 30 with payment date of July 5.

12Last updated August 02, 2018

Please make sure that any HR documentation affecting the foregoing payroll processes are submitted within the specified time. Please refer to the following URL for the HR deadlines:https://your.yale.edu/work-yale/finance-and-business-operations/yale-shared-services-yss/payroll/pay-schedule

Payroll Accounting Adjustments (PAA)

Adjustments may be required to payroll actuals due to incorrect charging instructions including, but not limited to, labor suspense. Strict observance to the transaction deadlines noted in the master schedule will ensure that payroll adjustments are processed in the appropriate accounting period. If the PAA is for payroll results with an accounting date in FY2018 and the business process is not complete by July 20, the PAA will post in FY2019.

Labor SuspenseReview any balances remaining in program # PG99999 (Transaction Suspense – SYSTEM GENERATED) and/or project # PJ028458 (Temp Charging Instructions – to be Cleared), and determine what transactions remain to be cleared.

Transactions that are greater than $100 per employee per pay period should be cleared. If the individual devotes effort to a sponsored project, all labor suspense regardless of whether it relates

to a sponsored award or not, must be cleared (see Effort Reporting item below).

Run report “Account Balances Detail – Yale” once for PG999999 and again for PJ028458. It is necessary to run it for each segment individually, as some balances may occur in only one of the two segments; running both in one report will only return when both segments are on the balance.

Effort ReportingPolicy 1315-Effort Reporting: Certifying Effort on Sponsored Projects; certification is due within sixty days of notification of availability. Charges remaining in suspense accounts at close impact the ability to certify effort reports accurately, and on time. All suspense charges related to effort on sponsored project must be cleared by July 6. An effort reporting period release is scheduled for July 23, 2018.

Payroll / Compensation Payment Adjustments

Overpayments to Employees / Staff:To make timely and appropriate accounting entries reflecting adjustments for periods prior to June 1, 2018, all related overpayment information must be received in the Payroll Office (Attention –Employee Service Center 203-432-5552) by Monday, June 4.

Overpayment information should include:1. Completed Payroll Payment Adjustment Form – Please provide as much detail as possible, along with

contact information in case additional detail is necessary. Link to policy 3501 PR.04 contains forms.2. Original Yale paychecks and / or personal (employee) checks to be deposited by the Payroll Office.3. Any other information related to the overpayment that may be useful in determining correction needed.

If you need assistance determining the net amount that someone owes back to the University, please contact Employee Service Center telephone (432-5552) or via e-mail (see below) for a calculation. Adjustments not received by the above dates may not be made or reflected until FY2019.

Contacts: For any questions regarding payroll adjustments please contact employee.services@yale.edu Address: Payroll Office, 25 Science Park, 150 Munson St

13Last updated August 02, 2018

Accounts Receivable and Year-end Customer Invoicing (YSM ONLY)

This section covers the procedure for invoicing YSM non-patient customers for year end. All invoices to be processed by the YSM Centralized Billing unit should be emailed in the normal manner to ysminvoicing@yale.edu no later than June 22 in order to be processed for year end. Invoices received after this date will be accrued for as revenue and processed as an invoice in July 2019 (FY2019). All customer invoices must be completed and approved by June 29 at noon to be posted for the June period.

All services performed by June 30 and after the invoicing cutoff (June 22) for YSM non-sponsored customers, which includes all non-insurance billed amounts at the Medical School should be emailed to ysmcontroller@yale.edu for accrual. These invoices will be reviewed by the YSM Controller’s office for proper accounting (GAAP) treatment.

Departments are responsible for reviewing their respective AR Aging report during year end. This can be facilitated by reviewing “Non-Sponsored Receivables Aging Detail by Cost Center – Yale”. For those receivables that are uncollectible please send those along to ysminvoicing@yale.edu for write-off.

The BMS AR system will be shut-down as of June 30th. All remaining BMS AR receivable balances will be aged >365 days old and will be written off by year end. The Department may continue to attempt to collect these balances, however they will be fully reserved for in Workday during the FY2018 year-end close. If you have any questions concerning the shut-down of BMS AR, please contact ysminvoicing@yale.edu.

Accounts Payable and Expenses

This section covers the procedure for transaction processing and accruals associated with Accounts Payable (both Supplier Invoices and Supplier Invoice Requests) and Expenses (expense reports for P-cards, out-of-pocket reimbursements, and advances).

Where possible, the native functionality in Workday will be used to achieve proper transaction cutoff, ensure timeliness of accounting information, and reduce manual work.

The AP and Expenses system will remain open until July 13th. During the period from July 2 – July 13th, the system will book transactions to the appropriate fiscal period based on transaction dates:

Supplier Invoices – based on the Invoice Date (Budget Date) Supplier Invoice Requests – based on the Invoice Date Expense Reports – based on the Expense Header Date

This replaces the manual accruals that used to be done by the departments at the departmental COA level in the Oracle environment.

Supplier Invoices and Supplier Invoice Requests

All Supplier Invoices and Supplier Invoice Requests related to FY2018 must be submitted by July 6. Accounts Payable teams will be responsible for ensuring that all transactions dates are input accurately, with special focus on Invoice Date and Budget Date.

Supplier Invoices – The invoice date must match the invoice. Where the product or service was received on or before June 30th, please ensure that the invoice accurately reflects this information. The processing team will use this information to ensure that the transaction Budget Date is accurate.

14Last updated August 02, 2018

Supplier Invoice Requests – Please date your Supplier Invoice Request with the correct fiscal year. If your Supplier Invoice Request relates to FY2018, please make sure the invoice date is 6/30 or prior. If your Supplier Invoice Request relates to FY2019, please make sure the invoice date is 7/1 or later.

Accounts Payable will review these invoices against accounting criteria to confirm the appropriate year is charged, consulting General Accounting as needed.

Expenses (P-cards and Out-of-pocket) and Advances

All expense reports related to FY2018 must be entered and approved by July 13 at 3pm.

Expense Reimbursements

Expense Reports – Please date your Expense Report with the correct fiscal year. If your Expense Report relates to FY2018, please make sure the Expense Report Date in the expense header is 6/30/2018 or prior. If your Expense Report relates to FY2019, please make sure the Expense Report Date in the expense header is 7/1/2018 or later.

University policy requires the submission of reimbursement requests with pertinent supporting documentation within 10 business days of incurring the expense or returning from a trip, whichever is later. Department administrators are responsible for ensuring compliance with this policy. Please follow up on your unit’s outstanding travel or expense advances and monitor the timely submission of expense reports to clear the advances. Also, please contact faculty and staff and remind them of the current policy.

If faculty or staff members are expected to be away for an extended period, they should be encouraged to submit reimbursement requests incrementally and not wait until they return to the University.

Travel AdvancesTravel advances for trips completed during FY2018 should be cleared by June 29. Emphasis should be placed on clearing advances for travel on sponsored awards as soon as possible.

Invoices in your Workday Inbox Pending ApprovalDetermine whether there are invoices in your inbox pending your approval. These are visible when you run report “Invoices in Progress by Cost Center – Yale”.

All invoices must be cleared by July 6th. YOU SHOULD NEVER DO A JOURNAL ENTRY TO CLEAR ACTUAL HOLD TRANSACTIONS. Doing so will not result in processing and payment of the transaction nor will it remove it from your inbox. Please contact Finance Support Center (FSC) if you have problems clearing transactions from your inbox.

Authorization to pay invoices must be approved by July 6th.

Accruals for Accounts Payable and Expenses Accruals are recorded at fiscal year-end to recognize expenses that have been incurred by the University but not recorded as of June 30. This practice is performed to ensure that all material expenses are recorded in the appropriate fiscal year. Only expenses for goods and services received in FY2018 ultimately are recorded in FY2018.

15Last updated August 02, 2018

The extension of the Account Payable and Expenses system close date means that departmental units are not responsible for booking manual accruals. The Accounts Payable Department is responsible for reviewing invoices received in July and August and recording accruals as appropriate based on the following criteria:

Up to July 13 – Manual accruals will be booked centrally using the departmental COA values foro Supplier invoices with an invoice date from 7/1-7/13 and transaction budget date <= 6/30

After July 13 – Manual accruals will be booked centrally using a central university COA combination foro Supplier invoices with invoice dates after 7/1 and transaction budget dates <= 6/30o Expense reports approved after 7/13 but with an expense report date (header date) <= 6/30

Note that after July 21, a materiality threshold of $50,000 will be used to determine the need for accruals.

Presentation on Monthly Statements

June ReportingExpense accruals that are recorded via manual journal entry according to the above schedule will appear in the June statements with a journal memo beginning with APACCR.

July and August ReportingThe manual journal entries containing June expense accruals will be reversed in FY2019 with an accounting date of July 1. This will result in a credit to the July accounting period. This credit will net with the AP/Expenses transactions that posted to the July or August period (which is based on the invoice date noted in the table above).

Before assuming that you have been charged twice for an invoice or expense report (once in June and again in July), please check your July statements to determine whether a credit has been recorded. Accruals and reversals will have a reference number that includes the Supplier Invoice (SI) number. An accrual reversal (credit) in Workday will reference the accrual journal entry number in the journal memo field.

If you find a problem with the accruals, contact AP by e-mail to sharedservices@yale.edu.

Reminder:It is our joint responsibility as financial managers of the University to ensure that all expenses are recorded in the appropriate fiscal year.

Accounts Payable can only accrue expenses based on the invoices and expense reports that have been submitted for processing. Consequently, any department Lead Administrator who has knowledge of a significant expense ($5,000 or more) that has been incurred in FY2018 but not yet invoiced should bring this transaction to the attention of General Accounting. General Accounting will consult with you to determine if it is appropriate to record an estimated expense accrual based on the information available.

Likewise, faculty, students, and staff should be reminded that any business expense incurred for business travel, etc. in FY2018 should be submitted for reimbursement by June 30, 2018. Such expense reports must be fully approved by July 13 at 3pm.

Prepaid (deferred) Expenses / Revenue Accruals and Deferrals (Planning Units only)

In addition to the AP accrual process, year-end adjustments may have to be processed to record income and other expenses in the appropriate fiscal year. These adjustments, however, must be handled differently from the normal departmental journal entries. In limited circumstances where entries are needed, departments will post journal entries, and 100% are subject to review by General Accounting who will authorize all accrual / deferral transactions. This will facilitate the review of the transactions and ensure the reversal of the entries in the new fiscal year. Departments may only prepare these transaction through the manual journal close dates (July

16Last updated August 02, 2018

20 and July 27 – see schedule starting on page 18 for units subject to each date).

Prepaid ExpensesExpense paid in FY2018 but applicable to FY2019.

Through July 13 units should direct FY2018 operational transactions directly to a prepaid expenses account: Supplier Invoices / Supplier Invoice Requests should use Spend Category SC658 (Prepaid Expenses). Business offices are responsible for reviewing and reconciling the prepaid expenses ledger account for

their Cost Center(s).

July 13 – Your Journal Closing DeadlineIn the event that it is not possible to process a prepaid expense through the system process discussed above because it was identified after the deadline has passed, business offices are responsible for processing manual journals to recognize the expense and remove the prepaid expense. Manual journal entries to this account also require additional signoffs in the Controller’s Office, so reliance on the system process is strongly encouraged.

Debit: CO01.YD000001.CCyour.PG00363.PJ103072.17008 (Prepaid Expenses)Credit: Departmental Expense COA

Accrued ExpensesExpense incurred in FY2018 but paid in FY2019 – subject to the accrual process above. There should be no need for a department to create a journal entry to accrue expenses. All will be subjected to the accrual process discussed above and will be accrued centrally. If there are any questions about whether your transaction has been included in the central accrual process, please contact AP by e-mail to sharedservices@yale.edu.

Deferred IncomeIncome received in FY2018 but applicable to FY2019.

Debit: Departmental Income COACredit: CO01.YD000001.CCyour.PG00363. PJ103072..11007 (Receivables – Other)

Accrued IncomeIncome earned in FY2018 but was not invoiced via Customer Invoice function for June 30. This is often discovered when payment is received in FY2019.

Debit: CO01.YD000001.CCyour.PG00363. PJ103072..11007 (Receivables – Other)Credit: Departmental Income COA

Instructions for ALL Manual Entries for Prepaids, Income Accruals, and Income DeferralsTo achieve uniformity and minimize confusion and frustration in processing these types of adjustments, please observe the following guidelines:

1. Identify the transaction for which you need to manually establish a prepaid expense, income accrual, or income deferral.

2. Use the COA guidelines noted above by transaction type.3. Submit only via Manual Journal source in the user interface (i.e., typing into Workday – NO

journal uploads will be permitted for these entries).4. In the journal entry header, ensure that the “Create Reversal” box is checked and the reversal

date is 7/1/2018.5. Ensure that the journal attachments contain all relevant information to show the amount

incurred/earned and to validate to what fiscal period it relates.

17Last updated August 02, 2018

6. Cost Center Manager in the department MUST also add an additional approver in the Controller’s Office.

• During Cost Center Manager review, click the “Add Approvers” button.• Additional Approvers field - Add Maria MacCalla (you can type her last name into

the search box and press enter OR Click on related actions, select “Central Accountant”, select Maria MacCalla)

7. Send an email to General Accounting containing your journal entry (JE) numbers. If you anticipate a large volume of journal entries in a given week, please group them together in one email. [Controller.genacct@yale.edu]

General Accounting will review and confirm the journal entries. It will also ensure that the entry will properly reverse in the new fiscal year.

YSM – If you need to process a year-end adjustment to record any of these items applicable to FY2018, please contact YSM Controller’s office at ysmcontroller@yale.edu. Sue will ensure that these transactions are appropriate and will get processed in the system for review and confirmation by General Accounting. For non-sponsored customers please see the “Accounts Receivable and year end invoicing” section above.

Accounting for Gifts

Process and DeadlinesContribution Processing of the Development Office records all donor contributions into the Hopper system which loads to the University’s general ledger accounts. The guidelines herein must be followed to ensure the proper processing, recording, and reconciliation of gifts to the University.

All donor contributions received by Departments should be immediately deposited to the Gift Clearing Account via cash sales using revenue category RC237 (Contribution Clearing) with the following charging instructions: CO01.GS054999.CC1520.PG00655.PJ000001.05. All gift documentation, including the cash sale transaction number, should be attached to the Cash Sale and/or Journal at the time of submission in Workday, no later than July 6th, to have timely year-end entry.

Note: The address for Contribution Processing is 157 Church St. – 8th Floor.

Upon entry into the Hopper System by Contribution Processing, the gifts will be transferred from the Gift Clearing Account to the appropriate departmental account crediting the following: Spendable gifts – LA43000/RC028 Endowment gifts – LA43003/RC235 Capital gifts – LA43004/RC236

The total of gifts credited to the General Ledger during the fiscal year is reconciled to the total of the gifts processed in the Hopper System. Thus, it is very important to communicate with the Contributions Processing Department at 432-5896 before making any changes. Please refer to the section entitled Accounting for Gifts for the rules in recording gifts to the University.

Donor Contributions Deposited to Incorrect Account

IF CURRENT YEAR DONOR CONTRIBUTIONS ARE DEPOSITED TO THE WRONG ACCOUNT:If the Department deposits a current year donor contribution to the incorrect gift using ledger account 43000,

18Last updated August 02, 2018

43003, 43004 instead of using the Gift Clearing Account and ledger account, Departments should reverse the entry and credit the gift clearing account using ledger account 43005. The donor documentation, Journal and explanation as to where the donor contribution should be credited should then be sent to contribution.processing@yale.edu so it can be entered into Hopper properly as a new donor contribution. Contribution Processing will then transfer the donor contribution out of the clearing account and into the proper gift using ledger account 43000, 43003, or 43004. Contribution Processing will also adjust the donor record in Hopper.

If Contribution Processing deposits a donor contribution to the incorrect gift, the Department should contact gift.adjustments@yale.edu and provide the correct COA where the donor contribution should be deposited. Please also provide all information known about the donor contribution including the donor ID, contribution amount, contribution date, and designation number.

19Last updated August 02, 2018

YEAR-END DATES FOR TRANSACTION PROCESSING AND REVIEWLink to Excel File that can be Sorted and Filtered

Date Time Transaction Type Details and Action Items Doc pg#Friday May 25 Net Balance

Review - GiftsRequest to close a restricted spendable gift where purpose has been fulfilled (witha zero balance) due

5

Friday May 25 Net Balance Review - Gifts

Request to close a restricted spendable gift where purpose has been fulfilled(without a zero balance) due

5

Thursday May 31 Net Balance Review - Gifts

Request due to Gift Accounting if central review of activity in a Gift is needed

6

Thursday May 31 Net Balance Review - Gifts

Requests due to Gift Accounting for changes to home cost center, default COA, or other informational worktags for a Gift.

6

Monday June 4 5pm Payment Adjustments

FY2018 payment adjustments for periods prior to June 1, 2018 due in Payroll

12

Wednesday June 6 5pm Requisitions All Purchase Requisitions intended for processing in FY2018 must be approved and submitted to the Purchasing Department by this date.

Friday June 8 5pm Requisitions All Purchase Requisitions needing Purchasing Services assistance and intended for processing in FY2018 must be approved and submitted to Purchasing Services by this date.

Friday June 15 Interest & Amortization

Final I&A posted to the general ledger 7

Friday June 15 Tuition Final BANNNER push to general ledger for June 2018

Friday June 20 Net Balance Review

Deadline for transfer of Capital Funding 6

Thursday June 21 11am Payroll Processing

Time entry cutoff for final Monthly payroll

11

Friday June 22 Net Balance Review

YSM - Request for Dowry payment due to YSM Office

4

Friday June 22 11am Payroll Processing

Time entry cutoff for final Semi-Monthly payroll.

11

Friday June 22 AR (Accounts Receivable /

All invoices to be processed by the YSM Centralized Billing unit due in order to be

12

20Last updated August 02, 2018

Customer Invoice)

processed for year end

Tuesday June 26 Payroll Processing

Settlement for final Semi-Monthly payroll

11

Wednesday June 27 Payroll Processing

Settlement for final Monthly payroll 11

Friday June 29 Net Balance Review - Gifts

Request to Reinvest Unspent Endowment Income to Principal due to Gift Accounting

4

Friday June 29 Net Balance Review - Gifts

Request to Decapitalize a UFFE due to Gift Accounting

5

Friday June 29 Net Balance Review

Deadline for making inquiries with Capital Accounting or General Accounting for potential errors in "Operating Funds for Plant and GAAP"

6

Friday June 29 12 noon AR (Accounts Receivable / Customer Invoice)

All Non-Sponsored Accounts Receivable transactions must be completed and approved.

12

Friday June 29 Travel Advances All travel advances for FY2018 travel must be cleared by this date.

13

Friday June 29 Travel Advances Approvals for Spend Authorizations involving advances

Friday June 29 4pm Petty Cash Submission deadline for petty cash replenishments

Friday June 29 Expense Reimbursements

All out of pocket expenses must be submitted and approved by this date.

Friday June 29 4pm Petty Cash Submission deadline for petty cash reimbursements for students and visitors

Friday June 29 12 noon Cash Sales All Cash Sales transactions must be completed and approved.

Friday June 29 Business Assets Business Assets system is closed to June activity.

Friday June 29 Banking/Cash All June cash transactions must be submitted to Treasury.

Monday July 2 Banking/Cash All June cash transactions must be completed. Cash functions are closed to June activity.

Monday July 2 System Dates July period is open in Workday and available for July transactions in all business processes.

10

Monday July 2 4pm Payroll Processing

Time entry cutoff for FY2018 final Weekly payroll. Settlement on July 3rd.

11

Monday - July 2 - July 13 AP FY2018 invoices (with invoice date <= 12

21Last updated August 02, 2018

Friday 6/30) approved during this period will be booked to the June period automatically.Invoices with invoice date >= 7/1 and budget date <= 6/30 will be accrued via journal in June period at the departmental COA level.

Monday-Friday

July 2 - July 13 Expense Reports Expense Reports with an Expense Report Date of June 30 or earlier approved during this period for transactions that pertain to FY2018 will post to JUN18-18 at the departmental COA level

12

Friday July 6 Effort Reporting Effort reporting suspense changes on sponsored projects must be cleared by this date

11

Friday July 6 5pm Payment Adjustments

FY2018 payment adjustments for June period due in Payroll. Checks received in Payroll after June 28th will post in July for Cash Sales but adjustments to EE record will post to June. The first Workday payroll cutoff is July 10th for payment on July12th

12

Friday July 6 AP and Expense Reports

All invoices and supplier invoice requests received to date that pertain to FY2018 are due in Accounts Payable by this date.

13

Friday July 6 AP Invoices in progress must be cleared 14Friday July 6 Contributions Gift documentation due to Contribution

Processing for all checks related to June 30th or prior.

16

Friday July 6 2pm Net Balance Update

Sunday July 8 FP&A YBT populated - FP working plan files with June actuals - IP files updating nightly

9

Sunday July 8 YBT June month end populates FP working plan files with June actuals

9

Sunday July 8 YBT Beginning today, IP year-end files only will be updated nightly

9

Monday July 23 Effort Reporting Effort reporting period release 11Friday July 13 R&R / Alterations Repair and Replacement charges and

Alterations Contingency charges for June will be posted in the GL

4

Friday July 13 FP&A Cross-planning unit and ISP charging should be complete

9

Friday July 13 Journal Entry Journal entry cutoff for ISPs, source system owners and charges to departments other than your own

10

22Last updated August 02, 2018

JEs will post all day, but must be in by 2pm to be subjected to the Net Balance update (below)

Friday July 13 3pm Expense Reports FY2018 expense reports must be approved

13

Friday July 13 3pm AP All Invoices pertaining to FY2018 transactions must be approved by this time to ensure being booked to the fiscal year.

13

Friday July 13 2pm Net Balance Update

Saturday July 14 Account Holder Report Event

The DataMart that feeds the June Account Holder Report is populated with Workday financial data.

Friday July 14 - July 20 AP All approved invoices pertaining to FY2018 will be accrued at the University level.

14

Friday July 14 - July 20 Expense Reports Expense Reports posted during this period pertaining to FY2018 will be accrued at the University level.

14

Wednesday July 18 R&R / Alterations Repair and Replacement charges and Alterations Contingency charges for June expected to be funded by this date

4

Friday July 20 3pm Journal Entry Journal entry cutoff for Non-Self-Support Schools and units and all YSM DepartmentsJournals must be approved by 3pm!

10

Friday July 20 3pm PAA - Payroll Accounting Adjustments

Payroll adjustments must be completed by this date for June 30th or prior. All suspense charges (other than those with an impact on effort reporting, which have an earlier date) must be cleared by this time.If the PAA is for payroll results with an accounting date in FY2018 and the business process is not complete by July 20, the PAA will post in FY2019.

11

Friday July 20 3pm Net Balance Update

Saturday July 21 Account Holder Report Event

The DataMart that feeds the June Account Holder Report is populated with Workday financial data.

Saturday July 21 through TBD

AP Approved invoices >= $50,000 pertaining to FY2018 will be accrued at the University level.

14

Saturday July 21 through TBD

Expense Reports Expense Reports >= $50,000 posted during this period pertaining to FY2018

14

23Last updated August 02, 2018

will be accrued at the University level.Friday July 27 3pm Journal Entry Journal entry cutoff for Self-Support

Schools including YSM Central and the Provost’s OfficeJournals must be approved by 3pm!

10

Friday July 27 3pm Net Balance Update

Saturday July 28 Account Holder Report Event

The DataMart that feeds the June Account Holder Report is populated with Workday financial data. This is the last scheduled Account Holder Reporting event for June.

Saturday July 28 Journal Entry Adjustment Period begins - entries only by Central Accountants. All entries require approval by the Budget Director and Controller.

10

Monday July 30 FP&A IP variance explanations and a reconciled net balance tab due to FP&A- Centrally-supported units

9

Wednesday August 1 FP&A IP variance explanations and a reconciled net balance tab due to FP&A- Self-Supports (SOM, Nursing, Law, FES, and Divinity), Provost Admin, Other FAS, Other Academic Services and YSM

9

Wednesday August 1 FP&A High-level year-end narratives and submission reports due to FP&A- Centrally-supported Units

10

Friday August 3 FP&A High-level year-end narratives and submission reports due to FP&A- Self-Supports (SOM, Nursing, Law, FES, and Divinity), Provost Admin, Other FAS, Other Academic Services and YSM

10

Monday August 6 2pm Net Balance Update

There will no longer be a net balance update on this day due to system constraints.

Friday August 10 12pm Net Balance Update

There will no longer be a net balance update on this day due to system constraints.

Thursday August 16 10am Net Balance Update

June will be unavailable for journal entries from this time until the process is complete.

Thursday August 23 10am Net Balance Update

June will be unavailable for journal entries from this time until the process is complete.

Friday September 7 2pm Net Balance Update

There will no longer be a net balance update on this day due to system constraints.

24Last updated August 02, 2018

Friday September 21 [tentative] Net Balance Update

Friday September 21 [tentative] FINAL CLOSE FINAL JUNE CLOSE

25Last updated August 02, 2018

WORKDAY REPORTING

There is no lag on financial information in Workday reporting. When financial transactions have completed, the information is available to all Workday financial reports. The DataMart (formerly known as the Data Warehouse or DWH) that feeds the Account Holder report is populated with Workday financial data each night.

Reporting Event - definedThe closing schedule includes activities called “Account Holder Report Event”. A reporting event is where the DataMart that feeds the Account Holder report is populated with Workday financial data. Note that net balances are updated based on transactions and balances in the Workday system as of 2pm.

Schedules on HoldBecause there are multiple Reporting Events during the June close, departments may wish to consider placing selected schedules (specifically faculty members) on a temporary INACTIVE status for one or more of the events. Remember to place the schedules back on ACTIVE status for the event you wish to run. If you need assistance, please contact sharedservices@yale.edu .

Reports That May Aid in Year-end Review:

Workday Reporting Guide for Year-End Financial Closing ProceduresProcedure Report Parameters for Report Review Net Balances

(provides information to support the requirement for balances at the Cost Center/Funding Component level)

Net Balances Review – Yale Time period: Defaults to Current Period YTD - do not change

Fund Hierarchies: - For all items = "Op Funds Budgeted by Units"- For YD only = "Unrestricted Operating"- For Endowment only = "Endowment Operating Funds"- For Spendable only = "Spendable Gift Funds"- For direct charge Grants only = "Grants & Contracts Funds"

Validate revenues and expenses in GA are appropriate to the GA budget

(replaces the business use cases for the Account Holder by PTAO report)

Budget to Actuals for Management Office Reporting by Gift/YD/Fund – Yale

Select your Cost center / CC hierarchyFund: 30 Central GA Fund Repeat by: Fund Keep all the other defaulted prompts

Review activity in Gift # GS052996 Designated Financial Transactions – Yale Time period: Current Period YTD

26Last updated August 02, 2018

Purpose Miscellaneous Spendable Gifts Gift: GS052996Keep below defaulted prompts:Ledger: ActualsCompany: YaleAdditional Options: Exclude Pro Forma JournalsInclude payroll details (will only show if you have the security access)

Review all assets and liabilities recorded in your cost center

Assets and Liabilities – Yale Time Period: Keep default of Current period YTD (otherwise balances will not be accurate)Cost Center/CC Hierarchies: Select your CC / HierarchyFund Hierarchies: Op Funds Budgeted by UnitsLedger Accounts and Summaries: (pay attention to punctuation) - Yale Chart of Accounts: Accounts receivable, net - Yale Chart of Accounts: Other assets - Yale Chart of Accounts: Accounts payable and accrued liabilities - 10005:Cash - Petty - BoxesCompany: Keep Company Yale default

DO NOT review ledger account 20004 (Deferred Revenue on Grants) or 20011 (Accrued Wages & Salaries Payable) - these are managed centrally by OSP and Payroll.

Endowment and Investment Income - review gift balances to determine all endowment income due your unit.

Gift Balances - Yale Keep all default promptsInput cost center Change period for June

Unallowable costs - identify high risk expenditures that need to be reviewed for allowability; confirm charges are to proper expense types in order to properly exclude unallowable costs from the federal Facilities & Administrative (F&A) rate proposal and subsequent reimbursement when the F&A rate is applied to sponsored awards.

Sponsored High Risk expenditures – Yale

Identifies those that are in high risk (unallowable category). Please note this report gives the high-risk items, not all of them are unallowable however they should be reviewed for allowability.

27Last updated August 02, 2018

Transactions Posted to “Other” Ledger Accounts - review transactions within these ledger accounts to determine if they should be moved to a more specific ledger account.

Financial Transactions – Yale Detail Transactions - Yale

Limit to ledger accounts (for better performance) Ledger Account: 42017, 45011, 45016, 45022, 81051

Note that this report can be used for various other types of analysis by changing the prompts.

Reclassifications and Fund Transfers (including Closeouts and Deficit Funding) - Review specific ledger accounts and spend/revenue categories to use for reclassifications and transfers based on the Funds involved and the underlying business circumstances.

Fund Transfer Review - Yale Please pay attention to time period (Current period - if you are doing throughout the year, Current period YTD - if doing for the first time at year end)

Review Labor Suspense to identify payroll accounting adjustments that may be required to payroll actuals due to incorrect charging instructions.

Account Balance Detail - Yale Program: PG99999 and/or Project: PJ028458

Journal Entries - For units that must be closed on July 20th, the Planning Unit Lead Administrator (or their designee) is responsible for ensuring that her/his unit does not perform journal entries during the period from July 21-27.

Find Journals by Cost Center – Yale

For in-process journals:Keep all default promptsInput cost center or cost center hierarchyPeriod: JUN Starting Created On: 07/21/2018Ending Created On: 07/27/2018

For posted journals:Keep all default promptsInput cost center or cost center hierarchyPeriod: JUN Starting First Posted Date: 07/21/2018Ending First Posted Date: 07/27/2018

28Last updated August 02, 2018

https://impl.workday.com/yale7/d/home.htmld 2

CENTRAL DEPARTMENT CONTACT PERSONS

Please direct all inquiries to the generic e-mails listed below, if available. Otherwise, contact the specific contact person. Each central department will try to respond within one business day. If you don't hear from the department within the allotted period, please contact the specific contact person listed.

Central Department Generic E-mail

Generic Phone No. Specific Contact Person

Specific Phone No. Questions Related To

Accounts Payable sharedservices@yale.edu 432-5394Nichelle Bass<nichelle.bass@yale.edu> 432-9871 Supplier Invoices

Patti Taylor <patti.taylor@yale.edu> 432-2053 Unapproved Transactions, Supplier

Payments

Rodney Brunson<Rodney.brunson@yale.edu> 436-5766 Year-end Accruals

Bridget McCann<bridgetmccann@yale.edu> 436-3970 Supplier Invoice requests and Wire

Transfers; Expense Reports for YSS Clients

Business Solutions N/A – see Yale Shared Services below

Controller’s Office:

Capital Accounting Steven Munzner<steven.munzner@yale.edu> 432-1341

Capital Project setup, funding, and sweeps/ draws

Capital Asset Accounting

mei.admin@yale.edu

Thomas Kaufmann <thomas.kaufmann@yale.edu> or

Jeff Perinetti <Jeff.perinetti@yale.edu>

436-3076

436-9244

Accounting issues pertaining to fixed asset

Accounting issues pertaining to moveable equipment inventory

Chart of Accounts coa@yale.edu Jennifer Medina<Jennifer.medina@yale.edu>

Nicolette Smith<Nicolette.smith@yale.edu>

432-1348

432-8140

Chart of Accounts

https://impl.workday.com/yale7/d/home.htmld 3

Financial Reporting and Analysis

FSS@yale.edu Paul Vitola<Paul.vitola@yale.edu >

Courtney Connors<courtney.connors@yale.edu >

737-7033

436-4577

Management and External reporting, Asset and liability balances, cost recovery rates, University financial statements, University bank accounts

General Accounting Controller.genacct@yale.edu Maria MacCalla<Maria.maccalla@yale.edu>

436-8357 General close instructions

Gift Accounting Vincent Alberino<Vincent.alberino@yale.edu>

432-9827 Gifts – spendable and endowment

Investment Accounting invact@yale.edu

Julie Elak<julie.elak@yale.edu>

432-5624 Endowment spending distributions

Policies & Procedures

Susan Visken-Diaz<susan.visken-diaz@yale.edu>

432-9240 Policy and procedures questions

Tax Department tax@yale.edu 432-5530 Michael Damone

<michael.damone@yale.edu> 432-7515Unrelated business income tax questions, sales tax issuesState tax

Liz Travers<elisabeth.travers@yale.edu>

432-6120 Federal tax

Treasury Services432-4100 Agnes Siniscalchi

<agnes.siniscalchi@yale.edu>432-4474 Cash Sales and deposit of cash and

checks

Contribution Processing

contribution.processing@yale.edu

432-5498 Marsha Langner<marsha.langner@yale.edu>

432-5863 Gift inquiries

Facilities – Operations

Steve Zotto<Steve.zotto@yale.edu>

432-7268 Facilities - Operations

Facilities – Utilities Beth Purcell<Beth.purcell@yale.edu>

Catherine Triplett<Catherine.triplett@yale.edu>

436-9437

432-9715

Facilities- Utilities

ONHSA/University Properties

FP&A Office Contact your Budget Analysts Negative operating net balances, budget variances, budget questions

Payroll employee.services@yale.edu Employee Service Center (ESC)432-5552 Payroll operations; Compensation

Accounting; KRONOS

Procurement:

https://impl.workday.com/yale7/d/home.htmld 3

Electronic Commerce purchasing.card@yale.edu 432-3227 Kathy Chambers<Katherine.chambers@yale.edu> 432-9977

Purchasing Card

yems@yale.edu Brian Buccino<Brian.buccino@yale.edu> 432-2069

Expense Reports

Procurement purchasing.helpdesk@yale.edu 432-9955 Chris Bartolotta

<christopher.bartolotta@yale.edu> 432-9976 Purchase orders

Office of Sponsored Projects Financial Admin

Margaret Conway <margaret.conway@yale.edu>

737-5973 Sponsored Agreement (Grants & Contracts Funds) – Cash Management

Office of Sponsored Projects

John Maloney <John.maloney@yale.edu> 785-3077

Sponsored Agreement (Grants & Contracts Funds) – Financial Reporting and Analysis

Student Financial and Administrative Services

Heather Abati<heather.abati@yale.edu> 432-2710

Student Loan funds, student accounts, Banner GL transactions

YBT ybtsupport@yale.edu Steve Fielding<steve.fielding@yale.edu>

737-5242 YBT

YSM Finance Office Greg Doyle<gregory.doyle@yale.edu>

785-4449 YSM COA, closing entries and account balance questions

Lisa Danko<lisa.danko@yale.edu>

785-4449 Budget and YSM year-end closing documents

David Crockett<david.crockett@yale.edu> 785-4697 Dowry requests

Sue DeCrescente<suzan.decrescente@yale.edu> 737-4310 Non-A/P accruals, Account Receivable

and other accounting questionsYale Shared Services

sharedservices@yale.edu 432-5552 All technical system issues/questions,Sales Tax