The 2020/21 year-end is approaching. You can find instructions and processing deadlines for the year ending 31 July 2021 on the Finance website. Finance year-end instuctions The general ledger Period 12 close will take place on Friday 6 August, with Period 13 close being Friday 13 August 2021. Please adhere to the processing dates as this will help us achieve a quicker accounting close, and help us meet audit and annual return reporting deadlines. Action required by Heads of Schools and Planning Units: 1. Notify your School or Planning Unit staff of the year-end guidance notes and make sure they adhere to the year-end processing deadlines. 2. Complete the Law and Regulation Return online form for your School or Planning Unit between 1 August - 31 August 2021. Action required by School’s Directors of Professional Services and Planning Unit Professional Services staff: 1. Complete the accruals and prepayments forms if you need to accrue or prepay income and/or expenditure at the year-end. Please return the forms to your College or Professional Services Group Accountant by noon on 11 August; 2. Complete the Audit Questionnaire online web form between 1 August - 31 August 2021. 3. Complete the Payroll Positive Confirmation online web form. A separate email has been sent to those staff who are responsible for completing this earlier in June. Reminder: Importance of house-keeping ahead of year-end There are many tasks which can be started now: - Approve, amend or delete any outstanding purchase orders and eITs as required. - Encourage all staff to submit outstanding expense claims for 2020/21 for approval. - Your College & Professional Service Group Finance Team should organise an annual review of all restricted funds well in advance of the year-end. The Finance Research Grants Section will co-ordinate a review of research grant job codes. New finance system - go live date 2021/22 It is particularly important for not only this year-end, but also for the coming financial year that housekeeping tasks are kept on top of on a monthly basis. Good housekeeping of transactions and clearing down of older balances from now until the new finance system is implemented will help to ensure good quality data is migrated. We really appreciate your help with this. Year-end support If this is your first year-end or you require any support, please speak to your local or College Finance teams in the first instance. If you have any queries with this guidance, please email: Finance.helpline@ed.ac.uk. Contact List A Finance year-end contact list can also be found on the website. This article was published on 2024-07-01
