FY19 Year End and First Quarter Close

October 2, 2019

The general ledger for FY19 officially closed last week, and first quarter FY20 closes this week with the September month-end. When running FY20 financial reports, the July beginning balances reflect the final year-end close balances.
 
Other information and reminders about monthly close and reporting:

  • The FY20 monthly close calendar is available. A link is included in Business Update each week and is accessible via the online Accounting Manual.
  • The Monthly Financial Review Checklist will guide individuals easily through the monthly close process. Additional monthly close resources are available in the online Accounting Manual–select finance topic “Month-end Financial Close” and apply filter.
  • As a reminder, according to Procedure 1101.04, units are responsible for ensuring that balance sheet ledger accounts for which they are accountable are reconciled monthly and in a timely manner.
  • The year-end GA Sweep ran with the final year-end close last week.
    • The sweep is visible in transaction reports on ledger account 92025 (GA Sweep Activity – CENTRAL USE ONLY).
    • Additional details about the GA Sweep are available online.

Questions about the GA Sweep or accounting matters can be directed to General Accounting at controller.genacct@yale.edu. For any other system close questions, please call the Financial Support Center (FSC) at 203 432-5394 or email sharedservices@yale.edu.