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University of Houston - Victoria

End of the Year Procedures

University of Houston-Victoria

Complete by the last Friday in August

  1. Run the UHS_AP_UNPOSTED_VOUCHERS query entering the accounting date less than 09/01 of the new FY or UHV_WF_AP_NOT_POSTED query entering date range from 09/01/current FY to 08/31/current FY. The report should be all current FY (fiscal year) vouchers that are not posted. Any vouchers on this list that are not approved before the current FY processing deadline must be deleted..
  2. Run the Open Commitment Transactions Report (UGLS1074) to view outstanding PO encumbrances. Any encumbrances that will not be liquidated by a future payment should be liquidated by finalizing an existing voucher or adjusting the purchase order. Contact the Purchasing Manager, Purchasing Specialist or General Accounting Manager if you have any questions or concerns about an encumbrance.
  3. Run the Soft Commitments Report (UGLS1074) to view vouchers, journals and purchase orders that are held up because of processing. This report must be blank by August 31 for your cost center verification to be correct and for UH to complete the procedure on current FY purchase orders. Contact the General Accounting Manager if you have any questions or concerns.
  4. Run the UHV_WF_REQ_NOT_APPROVED query entering date before 09/01/current FY to 08/31/current FY. Requisitions that are not processed should be deleted by the last Friday in August. Contact Purchasing Agent or Purchasing Specialist if you have any questions.
  5. Run the UHV_WF_GL_NOT_POSTED query entering a journal date range from 09/01/current FY to 08/31/current FY. GL journals that are not posted by the August month end closing date should be deleted. Contact the General Accounting Manager if you have any questions
  6. Run the UHV_WF_BUD_NOT_POSTED query entering a journal date range from 09/01/current FY to 08/31/current FY. Budget journals that are not posted by the August month end closing date should be deleted. Contact the Budget Director or Budget Analyst if you have any questions.
  7. Run the Budget Summary 1063 report for Revenue and Expense to view the budget balance available for all cost centers in a department. Adjustments to the budget should be posted before the last Friday in August.
  8. Expense - Local cost centers only with a negative budget balance can be adjusted by either:

    1. releasing unneeded open commitments – refer to #2 above,
    2. reallocating expenditures using a GL journal, and /or
    3. transferring budget from other available funds using a Budget and GL journal

    Revenue - Local cost centers only

    1. If budget balance is negative, it means revenue receipts were less than planned. Therefore, the expense line is overstated. If the Net line amount is negative, you will need to adjust expense using one of the above adjustments.
    2. If budget balance is positive, it means department received more revenue than planned. Therefore, the amount can be made available to spend. It is not necessary at the end of the fiscal year to make revenue spendable. Please remember to include this figure in your department’s justifications.

    The Fund Equity by Department Range 016 report can also be run to determine if the ending fund equity balance is negative.

    The department needs to ensure they comply with Year End Deficits referenced in the UHV Administrative Policies and Procedures Policy B-4 Budget Transfer Procedures found at http://www.uhv.edu/fin/policy/b/B-4.aspx. Contact the Budget Director or Budget Analyst if you have any questions.

Complete in September/October

  1. Monthly verification for period 12
  2. Verification for adjusting period 998
  3. Account reconciliations should be sent to the Comptroller by October 15


Year End Document Processing

Current FY Vouchers Created in August of Current FY

  1. Vouchers should be electronically approved by the deadlines for local and state vouchers, purchase and travel.
  2. The Accounting Date (on the Invoice Information tab) should not be changed. It defaults to the date the voucher is created.
  3. The Budget reference will be current FY (fund 5 cost centers do not have a Budget Reference)
  4. The Schedule Due date (on the Payments tab) on all vouchers must be before last check cycle in current FY.current FY.
  5. Questions
    1. Travel vouchers- contact the Travel Specialist or Sr. Accounting Analyst
    2. Purchase vouchers - contact the AP Specialist or General Accounting Manager

New FY Vouchers Created in August of Current FY  See job aid Vouchers-Entering New Fiscal Year Found at: http://www.uhv.edu/peoplesoft/pdf/Year%20End/Vouchers_Entering_NewFY.pdf Purchase Order Vouchers cannot be created until PO carry forward process is completed on the last day of August.

  1. The Accounting Date (on the Invoice Information tab) should be changed to 09/01 of new FY. A message such as "The Accounting Date has been changed to a different fiscal year. All non-PO Distribution Lines have been defaulted to the appropriate budget reference" will appear. Click OK.
  2. The Budget Reference will be new FY (fund 5 cost centers do not have a Budget Reference)
  3. The Scheduled Due date (on the Payments tab) should be 09/01 of new FY, or later
  4. Electronically approve new FY vouchers no earlier than August 31 of current FY.
  5. Questions – General Accounting Manager

New FY Vouchers Created in September of New FY and Beyond

  1. The Accounting Date should not be changed. The budget period will default to a new FY on regular vouchers. However, the PO determines the budget period on PO vouchers.
  2. The Schedule Due Date should not be changed

New FY Requisitions Created in August of Current FY

  1. The Accounting Date (on the Form tab) should be 09/01 of new FY.
  2. The Budget Reference will be new FY (fund 5 cost centers do not have a Budget Reference)
  3. Purchasing Manager or Purchasing Specialist will notify you when to begin entering new FY requisitions
  4. Questions – Purchasing Manager or Purchasing Specialist

New FY Journals Created in August of Current FY

  1. You should not create new FY journals in August of current FY
  2. Begin creating new FY journals on 09/01 of new FY
  3. Questions – General Accounting Manager

New FY Budget Journals Created in August of Current FY

  1. The Journal Date (on the Add New Value tab) should be 09/01 of new FY
  2. The Budget Reference will be new FY.
  3. Budget Director or Budget Analyst will notify you when to begin entering new FY budget journals
  4. Questions – Budget Director or Budget Analyst

If you have any questions about these guidelines, please contact the General Accounting Manager