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Finance and Treasury

Cancel Draft Receipt (in all instances)

JUNE 30th is the last day of Fiscal Year 2020!

Please note that all receiving  for Purchase Orders must be completed by 4:30pm today  for FY20. All purchase orders that do not have a receipt attached will be rolled over into the FY21 and charged to FY21 budget.

All Requisitioning  & change orders for FY21 may begin tomorrow 7/1/2020 at 1:00pm.

We strongly encourage you to review each of your cost center’s financial activity including any agencies, gifts, and grants.  Please note when you review the following reports related to your cost center’s activities that the related credit for the FY20 accrual reversal will not appear in the R002, but note that the FY21 budget will not be utilized for any expense accrued in FY20, the FY20 budget has already been charged. If you would like to review the accrual/reversals please use the Workday Report Find Journal Lines for Organization.

  • Operating Budget Variance for Organization  (R002)  (for all cost centers except agencies and grants however, including gifts)
  • Agency Available Budget for Organization (R006)   (for agencies)
  • Grant Summary by Ledger Account (R134)      (for grants)

The following Workday functions will be available after today to process changes/transactions related to FY20 with applicable date available:

  • Accounting Adjustments (this is off of a PAID supplier invoice or changes to approved verified P-card transactions)    July 9th
  • Accounting Journals    July 9th
  • Internal Service Delivery  July 9th
  • Cash Sales  July 9th
  • Customer Accounts (to establish receivables/revenue > $20,000 related to FY20) (Please contact Stephanie Calderon in General Accounting as soon as possible)  July 16th

When completing any of the Workday functions related to Fiscal Year 2020, please remember to change the Document/Accounting Date so it’s properly recorded in FY2020.

FY 2020 SUMMARIZED CLOSE SCHEDULE

Activities Must be completed by:
Budget Transfers
   – Purchase order related transfers May 22nd
   – All other budget transfers June 12th
Enter requisition (exception-Grant emergencies) June 4th
Supplier invoices submitted to AP (invoices@montclair.edu) June 19th
Expense Reports (includes all travel card transactions) July 7th
Final check run June 30th
Accounts (Actuals) Transfer June 26th
Deposit checks/cash June 26th
Accounts Receivable/unearned revenue submission June 26th
Enter receipt in Workday June 30th
Pcard transaction approval July 7th

The Division of Finance and Treasury of Montclair State University is committed to providing high quality, efficient services to support the University community and its mission of excellence in education by developing and maintaining accounting, financial management and reporting procedures and systems that provide financial stewardship over University resources.

Guiding Principles:

  • Ensure compliance with the University’s internal policies concerning accountability and reporting requirements.
  • Ensure compliance with University and external reporting requirements.
  • Deliver high quality services through continuous enhancement of services, processes and communication.
  • Cultivate and encourage a work environment dedicated to continuous improvement in performance.
  • Provide an environment that attracts and retains a highly professional, qualified, effective and diverse workforce.
  • Provide responsible stewardship of financial resources.

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