Financial Year End Instructions

Key dates and information on the Finance Year End.

The 2017/18 year end is approaching. Instructions including the online returns for 2017-18 are available on the Finance website Year End page.

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 Monday 6 August, with Period 13 close being Tuesday 14 August 2018.

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 2018
  • Audit Questionnaire to be completed by Director of Professional Services and Planning Unit support staff by 31 August 2018

 

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 2016/17 for approval.
  • There should be an annual review of all restricted funds well in advance of the year end, organised by your College and Support Group Finance Team. The Finance Research Grants Section will co-ordinate a review of research grant job codes.

Training

Again this year we will be running year end courses which are bookable via Event Booking on MyEd:

  • Housekeeping for Financial Transactions which will be held on 7 June 2018. 
  • Year End Procedures Course including an overview of the year end close, cut-off dates, accruals and prepayments, restricted funds, invoice processing and some system housekeeping.  This will be held on 12 June 2018.  

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: FIRST.Finance@ed.ac.uk.   

Contact List

A Finance year end contact list can be downloaded below

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