# Presentation: 695436

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

## Close Teams

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

## Schedule

- David Hathaway

## FY 2005 Close Schedule - DRAFT

## FY 2005 Close – Key Dates

- 9/13  Final submission of FY05 proposals, awards, and waiver requests to SPO by 5:00 pm
- 9/16  Requisitions to procurement
- 9/19  Final submission of all PAF forms due to Payroll office by 8:00 am
- 9/20  Final submission of miscellaneous invoice requests to AR by 4:00 pm

## FY 2005 Close – Key Dates

- 9/22  Final requests to open projects (DOE and WFO) in FMS by noon
- 9/23  Final LETS sweep at 5:00 pmAll feeders due by 8:00 pm
- 9/27  Final accruals due to AP by 2:00 pm
- 9/28  Final divisional resource adjustments due in FMS and labor adjustments due in HRIS by 10:00 am

## FY 2005 Close – Key Dates

- 10/7  Tentative – New period opens
- 	New FY06 projects opened

## Accruals / Prepayments

- David Hathaway

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

- Accruals – DOE Policy

## Accrual Policy- Manual accruals will be required 

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

**Notes:**
Note:
Materiality is considered when  preparing an accrual.
If goods are received in the system, by September 23, an accrual will not be required even an invoice was not received.

## Accrual Process 

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

**Notes:**
Note:
Materiality is considered when  preparing an accrual.
If goods are received in the system, by September 23, an accrual will not be required even an invoice was not received.

## Accrual Form Instructions

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

## Accrual Form (cont’d)

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

## Travel

- Manual accruals will be required if:
- Relocation expenses are incurred
- Local travel over $1k is incurred
- Division does not use TA’s (Travel Authorizations)
- Automated accruals will occur on all approved trips with TA’s

## Non-PO Requests

- Must be received by 10:00 am on Thursday, 9/22/05 for the following:
- Requests for Issuance of Check
- Stipends & Honoraria
- Reimbursements

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

- Prepayments

- Prepayment form is available on the General Accounting website.

## Division Contacts

**	**

## AP Contacts

_**ALPHA BY VENDOR NAME**__**	**__**A/P CONTACT**__**	**__**	**__**EXT.**_
**A****	****	****	****	****Ruth Archid****	****	****	****6737 **
**B thru C****	****	****	****Theresa Lee****	****	****	****6952 **
**D thru E****	****	****	****Lisa Oshiro ****	****  ****	****	****4784**
**F thru G****	****	****	****Tanya James ****	****	****2519**
**H****	****	****	****	****Macy Yeung****	****	****	****7949****	**
**I****	****	****	****	****Tanya James****	****	****2519**
**J thru L****	****	****	****Theresa Lee****	****	****	****6952**
**M****	****	****	****	****Chi-Kin Lou****	****	****	****5976**
**N****	**** ****	****	****	****Macy Yeung ****	****	****7949 **
**O thru Q****	****	****	****Lisa Oshiro ****	****	****	****4784**
**Regents****	****	****	****Macy Yeung****	****	****	****7949**
**R thru S****	****	****	****Chi-Kin Lou****	****	****	****5976**
**T thru U****	****	****	****Theresa Lee****	****	****	****6952**
**V thru Z****	****	****	****Lisa Oshiro****	****	****	****4784**
**Non-PO’s****	****	****	****Nida Payopay****	****	****4657**
**Mail, Deposits, EDI, Travel****	****Barbara Watts ****	****	****6007****	**
**A/P Supervisor****	****	****Joyce Black****	****	****	****4783**
**A/P Supervisor ****	****	****Karen Mahoney ****	****	****7406****	****	**
**Manager****	****	****	****Barbara Gomez****	****	****4788**
**FAX****	****	****	****	****	****	****	****5995**

## Procurement

- David Chen

##   Procurement

- Accrue through Division Contacts:
- One-time Purchase Orders
- Procurement Card (PCard) purchases
- Blanket/R&D/IUT/PSA/Consultant
- B2B System Contracts

**Notes:**
Get your requisitions into Procurement by 9/16 to get them in this fiscal year. We still may not be able to process complex & long lead-time items this FY if in by 9/16.

##   Procurement – One-time POs

- One-time PO Cutoff Dates:
- Orders received by Receiving by 9/23 COB (6:30 pm) will automatically be accrued/costed in G/L
- _FOB Destination_: Orders received after 9/23 and *received* by COB 9/30 must be manually accrued
- _FOB Shipping Point_: Orders not received by 9/23 and *shipped* by 9/30 must be manually accrued
- Pickups: Deliver Packing List/Notify Receiving by 9/23
- Check IRIS or PeopleSoft to determine status; charges posted by 8 am 9/24

**Notes:**
Do not manually accrue POs you expect to be received by 9/23

##   Procurement – PCard Orders

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

**Notes:**
Use the IRIS PCard 2 Quick Report to see if an item was posted.

##   Procurement - Blankets

- Blanket / R&D Subcontract / IUT / PSA / Consultant Agreement Cutoff Dates:
- Charges invoiced and certified by 4:00 pm 9/23 will be automatically costed to September G/L
- Charges ≥ $1K incurred between 9/23 & 9/30 should be manually accrued
- Check G/L posting on IRIS;Contact A/P Representative

##   Procurement – System Contracts

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

## Reporting/Analysis Tools

- Lauretta Corsair

## Reporting and Analysis Tools

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

## Communications

- Bridget Haverty

## Information Sources:

**ISS Close Hotline:** **486-4684 or *****HUN-GOTH***
**Twice daily close status emails to Network distribution**
**Web Site:** ***http://www.lbl.gov/Workplace/CFO/FY05_Close.html******         *****Will include the schedule, forms, contacts and procedure and policy documentation**
**Today at Berkeley Lab Announcements:**  **Beginning September 6****th** **Will include key deadlines and LETS Sweeps with links to relevant details**
**Announcements will also be included on My Blis Portal**
**September Network Presentation:**  **Scheduled September 15****th****             ** **A high level presentation of key changes and dates**
**Formal Training Classes:**  **Scheduled August 31****st**                                 **A more detailed review of close functions and procedures**