The 2019/20 year end is approaching. Please read for guidance and key dates for your diary. Instructions including the online returns for 2019/20 will soon be available on the Finance website Year End page. A separate email will be issued once the instructions are available on the website. The University’s financial year end is an important milestone when we publish our financial result. These year end instructions are relevant to all staff members with finance responsibilities. The general ledger Period 12 close will take place on Friday 7 August, with Period 13 close being Friday 14 August 2020. Please adhere to the processing dates as this will help us achieve a quicker accounting close and meet audit and annual return reporting deadlines. Key dates to remember: · Laws and Regulation Return to be completed by Head of Schools/Planning Units by 31 August 2020 · Audit Questionnaire to be completed by Director of Professional Services and Planning Unit support staff by 31 August 2020 Reminder: Importance of house-keeping ahead of year-end There are many tasks which can be started now: - Make sure any outstanding purchase orders and eITs are approved, amended, or deleted as required. - Please encourage all staff to submit outstanding expense claims for 2019/20 for approval. - There should be an annual review of all restricted funds well in advance of the year end, organised by your College & Professional Service Group Finance Team. The Finance Research Grants Section will co-ordinate a review of research grant job codes. New finance system - go live date February 2021 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 implement will help to ensure good quality data is migrated. 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. This article was published on 2024-07-01
