Fiscal 2018 Year-End Closing Packet

May 17, 2018

Below please find links to instructions for the year-end close for the Fiscal Year ending June 30, 2018 (FY18). Although this is our first year-end financial close in Workday, the majority of the closing activities and timeline remain the same. 

Two notable changes are:

The AP and Expense Report systems will have an extended close for June transactions. The AP/Expense accrual process will be done by AP using Workday reports–eliminating the need for the manual identification on invoices of which year the item belongs in and, in the vast majority of cases, eliminating the need for manual accruals.

Net balances will be updated more frequently in the month of August during central close activities.

The year-end close is an essential part of your role as financial professionals at Yale who prepare and present accurate, timely, and relevant financial information while fostering an environment of exceptional stewardship of Yale’s assets. Your work is relied upon by both internal and external stakeholders who use our financial information for decision making. Your work during the year-end close is especially important since it is incorporated into the official audited records of Yale University and used for tax and other regulatory filings.

If you have any questions about these instructions, please contact Maria MacCalla (maria.maccalla@yale.edu or 203 436-8357), Manager, General Accounting. Additional contact names and numbers are listed at the end of these instructions; these individuals and teams can assist you in specialized areas.

Thank you for all of your hard work during this transitional year and in advance for your time and effort in support of Yale’s mission during the weeks to come.

Year End Closing Procedures Packet

Year End Calendar