Did you know that the FY24 Closing Procedures has a list of critical dates and deadlines to help keep you on track during the year-end closing process? See below for highlights from a few of these upcoming deadlines:
- The deadline to process labor redistributions for FY24 payroll charges (excluding 2024 MN7 and 2024 BW15) is Thursday, 7/11/24.
- Keep in mind that these labor redistributions must:
- use a June transaction date, and
- be approved in Banner (i.e., at disposition 60) by 5:00 p.m. in order to appear on the June period 12 statements.
- Also, remember that labor redistributions for FY24 payroll charges cannot be processed in period 14.
- All FY24 journal vouchers and feeders must be entered and approved in Banner by Friday, 7/12/24 at 5:00 p.m. Users are encouraged to process all of their FY24 entries even earlier, if possible, in order to avoid any last-minute issues or errors.
- Finally, if you have any remaining deposits that were physically received in June, but which have not yet been deposited with the University Bursar, it is essential to process those deposits as soon as possible. See our recent UAFR Weekly Tips: Timely Deposit of Incoming Payments for further details.
Contact
If you have additional questions, feel free to contact UAFR at (217) 333-4568 or at uas@uillinois.edu. In addition, refer to the FY24 Closing Procedures for further details on the issues noted above, as well as many other issues related to the year-end close process.
