Planning for year-end close – key dates

    April 12, 2023

    The Controller’s Office will release the year-end closing instructions and calendar during the first full week of May (on or about May 3, 2023). The instructions and calendar will be posted in the online Accounting Manual, with an accompanying announcement in the Business Update newsletter.

    Consistent with prior years, the Controller’s Office will host kick-off meetings in May for the FY23 year-end close. The invitation will be sent to Lead Administrators who are encouraged to forward to other participants with year-end related responsibilities. The kick-off meetings will take place virtually, via Zoom. 

    To support business offices in planning for year-end, please note the following key dates for the fiscal 2023 year-end close.

    If you have any questions, please contact General Accounting at controller.genacct@yale.edu.  

    KEY DATES

    ACTIVITIES AND DEADLINES

    Tuesday, July 3, 2023

    FY2023 Payment Adjustments for June period due in Payroll.

    Friday, July 7, 2023

    * Last day for approved supplier invoices and expense reports to post to the June period.

    ** Journal entry cutoff for USPs, source system owners and charges to departments other than your own, including any charging outside of your Planning Unit.

    Thursday, July 13, 2023

    *** APPLIES TO UNITS CLOSING ON JULY 14, 2023: For manual accrual and deferral journal entries, email must be sent to General Accounting at controller.genacct@yale.edu containing your journal entry number(s) no later than 5 p.m. on July 13, 2023 to allow for sufficient review time. The cost center manager(s) must approve manual accrual and deferral journal entry no later than 5 p.m. on July 13, 2023.

    Friday, July 14, 2023

    ** Last day to complete and approve PAAs to post to the June period.

    ** Journal entry cutoff for non-self-support units and YSM departments.

    Thursday, July 20, 2023

    *** APPLIES TO UNITS CLOSING ON JULY 21, 2023: For manual accrual and deferral journal entries, email must be sent to General Accounting at controller.genacct@yale.edu containing your journal entry number(s) no later than 5 p.m. on July 20, 2023 to allow for sufficient review time. The cost center manager(s) must approve manual accrual and deferral journal entry no later than 5 p.m. on July 20, 2023.

    Friday, July 21, 2023

    Journal entry cutoff for self-support schools including YSM Central, Division of Faculty Salaries and the Provost Administration.

    Friday, August 4, 2023

    Budget Office close. Finalize GA support to units.

    * Please note that the cut-off for approval is noon, which is earlier than the 3 p.m. timing in the previous year.

    ** Please note that the cut-off for approval is 3 p.m., which is earlier than the 5 p.m. timing during the regular monthly closes.

    *** Cost center managers do not need to add additional approvers. The journal entry will automatically route if you follow the COA guidelines noted in the instructions (use of the Manual Journal source, a specific project, and ledger accounts are required).