Planning for year-end close – key dates

    April 17, 2024

    The Controller’s Office will release the year-end closing instructions and calendar during the first full week of May (on or about May 8, 2024). 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 FY24 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 2024 year-end close.

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

    Key Dates Time/ACtivities and Deadlines
    Monday, July 1, 2024 5:00 PM
    FY2024 Payment Adjustments for June period due in Payroll.
    Friday, July 12, 2024

    12:00 PM
    Last day for approved supplier invoices and expense reports to automatically post to the June period. Cutoff-off for approval is noon.

    12:00 PM
    *Journal entry submission cutoff for USPs, source system owners and charges to departments other than your own, including any charging outside of your Planning Unit.

    2:00 PM
    **Journal entry approval cutoff for USPs, source system owners and charges to departments other than your own, including any charging outside of your Planning Unit.
    Thursday, July 18, 2024 ***Applies to units closing on July 19, 2024: 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) by no later than 10:00 a.m. on July 18, 2024 to allow for sufficient review time. The cost center manager(s) must approve manual accrual and deferral journal entry no later than 5:00 p.m. on July 18, 2024.
    Friday, July 19, 2024

    12:00 PM
    *Journal entry submission cutoff for non-self-support units and YSM departments.

    2:00 PM
    **Journal entry approval cutoff for non-self-support units and YSM departments.

    2:00 PM
    **Last day to complete and approve PAAs to post to the June period.

    2:00PM
    **All Accounting Adjustments relating to FY24 must be completed before this time.
    Thursday, July 25, 2024 ***Applies to units closing on July 26, 2024: 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) by no later than 10:00 a.m. on July 25, 2024 to allow for sufficient review time. The cost center manager(s) must approve manual accrual and deferral journal entry no later than 5:00 p.m. on July 25, 2024.
    Friday, July 26, 2024

    12:00 PM
    *Journal entry submission cutoff for self-support schools including YSM Central, Division of Faculty Salaries and Provost Administration.

    2:00 PM
    **Journal entry approval cutoff for self-support schools including YSM Central, Division of Faculty Salaries and Provost Administration.
    Wednesday, August 7, 2024 5:00 PM
    Budget Office close. Finalize GA support to units.

    *Please note that the cut-off is earlier than the 3:00 p.m. timing during the regular monthly closes.

    **Please note that the cut-off is earlier than the 5:00 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).