Fiscal Year 2020 Year-End Calendar of Critical Dates & Deadlines

Below are the critical dates for Fiscal Year 2020 Year-End close as well as departmental responsibilities for providing year-end accounting data to Financial Affairs. While the FY 2020 year-end closing schedule and deadlines are generally the same as in the prior year there are changes due to the July 2020 implementation of Workday. Please review the following information regarding June 2020 closing period dates carefully. Transactions to be included in FY 2020 accounting must be done in BASIS/ RazorBuy. All July transactions should be held until July 7th when you can start entering them into Workday. Questions regarding the fiscal year-end closing requirements should be directed to the identified staff. If specific staff are not identified, please contact the Controller’s Office with any questions.

FY 2020

Saturday, May 30th & Sunday, May 31st, 2020

  • BASIS is Locked to all End-Users

Monday, June 1st, 2020

  • BASIS and RazorBuy reopens to all End-Users

Monday, June 15, 2020

  • FY 2021 Budgets Cycle & Load Due
  • Last Day to Enter Regular Purchase Orders/Requisitions and Sole Source Purchases for FY 2020 into BASIS
    • If for FY 2020 place your order with plenty of time to be delivered by June 30th. Keep in mind that because of the Covid-19 pandemic delivery of some merchandise is taking longer than normal. If for FY 2021 do not have merchandise delivered before June 30th.
    • If you have received merchandise but have not received an invoice, contact the vendor to make sure the invoice is received and paid in the correct fiscal year.
    • Make sure you have completed all receiving entries for FY 2020 merchandise physically received by June 30th.
    • All approvals for June-related requisitions must be done in BASIS to allow for processing in RazorBuy for production of Purchase Orders and receipt of invoices.

Wednesday, June 24, 2020

  • Last Day to process Payment Authorizations for Foundation reimbursement

Friday, June 26, 2020

  • Last Day for PO Change Orders to be Encumbered for FY2020

Tuesday, June 30, 2020

  • Last Day for Deposits to post in June
    • All funds received on or before June 30, 2020 by a department on campus must be deposited with the University Cashier’s Office and recorded as a FY 2020 receipt. The Cashier’s windows will remain open until 3:00 p.m. on June 30th to allow all departments who receive funds in the mail to deposit them into FY2020 accounting. If you have money/checks on hand, make sure it gets deposited in the Cashier’s Office no later than this last day for deposits.
    • Any questions or concerns regarding these transactions should be directed to Kathryn (Katie) McAllister, 575-6259 or kzlotnik@uark.edu.
  • Postage Meters. Any postage processed after today will be processed with FY 2021 funds.

FY 2021

Wednesday, July 1, 2020

  • Last BASIS Hourly Payroll Time Due for June hours

Monday, July 6, 2020

  • External ARS Invoices/Accounts Receivable. The date goods or services are provided determines the fiscal year revenues and accounts receivable will be recorded. When submitting invoices, be aware that the fiscal year cannot automatically be changed.
    • FY 2020 Goods/Services Provided – Invoices entered and approved in BASIS by the end of the business day. This is a shorter time frame than in the past, but the deadline needs to be observed for the transition to Workday.
    • Any questions or concerns regarding these transactions should be directed to Penny Mills, 575-8451 or plmills@uark.edu
  • Travel Claims & Invoices must be received by the Travel Office to ensure recognition as a FY 2020 expense. All FY 2021 travel is to be entered in Workday beginning July 7, 2020.
    • Questions or concerns regarding Travel claims & invoices should be directed to Greg Holiman, 575-8414 or glholima@uark.edu

Tuesday, July 7, 2020

  • Workday Launch for All Campus Users

Wednesday, July 8, 2020

  • Accounts Receivable invoicing begins in Workday for FY 2021
    • Any questions or concerns regarding these transactions should be directed to Penny Mills, 575-8451 or plmills@uark.edu
  • Inventories
    • Stock Inventories: All departments that have stock supply inventories must have their year-end inventories completed and copies submitted to Property Accounting.
    • Postage: All departments that have prepaid postage on hand such as stocks of stamps or have balances on postage meters, must report their total postage as of the end of the June 30, 2020 business day to Property Accounting.
    • Building Inventories: All units that receive building lists from Property Accounting must have those lists checked and returned to Property Accounting. Please make sure to note on the lists received any new buildings constructed during fiscal year 2020 as well as any buildings that no longer exist, including an explanation of disposal.

Thursday, July 9, 2020

  • All Internal Order (IO) uploads must be processed with a June 30, 2020 invoice date
  • Last BASIS Overtime/Supplemental Payroll Due for June hours
  • Voyager Charges for June 2nd, 2020 through July 1, 2020 must be approved

Monday, July 13, 2020

  • Last Day to Submit Personal Reimbursement Requests or Invoiced Attached Transactions to be recognized as FY 2020 expenses
    • All approvals for requisitions must be done in BASIS allowing the processing in RazorBuy to occur for production of Purchase Orders (date dependent upon the availability of the RazorBuy system).

Tuesday, July 14, 2020

  • PCard & TCard charges for June 18 through July 6 must be approved in BASIS by 4:30 p.m. to be included in FY 2020 (date subject to change)
  • All FY 2020 PCard & TCard receipts will continue to be emailed to tcdocs and pcdocs emails.
  • Any questions or concerns regarding PCard transactions should be directed to Alice Shattuck, 575-6279 or shattuck@uark.edu
  • Questions or concerns regarding TCard transactions should be directed to Greg Holiman, 575-8414 or glholima@uark.edu

Friday, July 17, 2020

  • All invoices including regular invoices, Utilities, Construction and Library must be in Accounts Payable along with receiving performed (when applicable). Received date needs to be June 30, 2020 or prior to be expensed in FY 2020
    • This is the last day to enter goods or services received in June, but the invoice was not received until July to have those expenses reflected in FY 2020.
  • Last Day to Submit UPAYs and their documentation (when applicable)
  • Last Day to Pay in AP Personal Reimbursements or Invoice Attached Transactions.

Wednesday, July 22, 2020

  • Expense Calendar (ECAL) Close. This close stops the ability to create new expense items in June (FY 2020) from UPS.
    • Last day to Pay UPAYs. All UPAYs, including those for sponsored programs, must be submitted AND approved to be included in FY 2020.
    • Last Day for Use Tax Journal Entries
    • Last Day for Labor Distribution Changes for FY 2020.
      • LABOR will be locked at 5:00 p.m. and will not be reopened
      • All retroactive labor distribution changes for FY 2020 must be submitted AND approved in order ensure the transactions show in FY. Labor distributions that are made on sponsored programs must be certified.
      • Make sure the necessary payroll distribution changes in BASIS PSB were made for all personnel currently assigned to sponsored program cost centers that have an inactive date of June 30, 2020.

Friday, July 24, 2020

  • Calendar Maintenance (CALM) Close. This accounting calendar close prevents new transactions from posting in June (FY 2020) from BASIS’ GJIM.
    • All BASIS GJIM transactions, such as funds transfers, expenditure transfers, and interdepartmental charges, including those for sponsored program, if they are to have an effective date of June 2020 must be both submitted AND approved to be included in FY 2020. This applies to all funds, including sponsored programs. If these transactions are not approved by today’s date the transactions will have to be re-entered into Workday for FY 2021.
    • Sponsored Program award set-up in BASIS and Workday will be based on the active date of an award. Please check the highlighted section of your email from your grant specialist to see the set-up dates for your award.
    • For sponsored programs please take time to review sponsored program cost centers to ensure that posted expenditures accurately reflect program effort.
  • Any questions or concerns regarding non-sponsored program GJIM transactions should be directed to Mark Hubbell, 575-6278 or mhubbell@uark.edu, and Jessica Katzang, 575-2247 or jnavarr@uark.edu. Questions or concerns regarding sponsored program GJIM transactions should be directed to Nikki Turner, 575-6920 or nt008@uark.edu

Monday, July 27, 2020

  • Indirect Cost Recovery (IDC) Allocation. The Office of Sponsored Programs (OSP) calculates the monthly charge of Facilities and Administrative (F&A) indirect costs.

Tuesday, July 28, 2020

  • Research Incentive Funds (RIF) Distribution. Using the IDC Allocation, the Office of Sponsored Programs’ (OSP) distributes quarterly Facilities and Administrative (F&A) indirect costs to University grants, both Center and non-Center.

Thursday, July 30, 2020

  • PCard & TCard charges for July 7 through July 22 must be verified in Workday by 4:30 p.m.
  • All FY 2021 PCard & TCard receipts will be uploaded in Workday and should not be sent via email
  • Any questions or concerns regarding PCard transactions should be directed to Alice Shattuck, 575-6279 or shattuck@uark.edu
  • Questions or concerns regarding TCard transactions should be directed to Greg Holiman, 575-8414 or glholima@uark.edu

Friday, July 31, 2020

  • Accounting Calendar Close. After today no transactions will post into June 2020.
  • First Workday Monthly & Hourly Pay Day (includes overtime hours)

Monday, August 24, 2020

  • July 2020 Accounting Closed

Additional Year-End Information

Business Affairs Year-End Information