Procedures in place at the end of the University financial year, on 31 July, and immediately following the start of the new financial year, on 1 August, ensure financial transactions are recorded in the correct year.
The timely approval of expenditure transactions and journals through workflow in Agresso is essential for meeting the year end deadline dates.
All staff with approval responsibilities should clear their task list regularly as the year end approaches. The final cut-off date is 6 August 2020.
Staff with approval rights must nominate a workflow substitute to cover any absence or leave. Failure to do this during the year end period may result in transactions not being approved and recorded in the wrong year.
The University’s default accounting period will remain as July 2020 until close of business Thursday, 6 August, when Agresso period 201912 closes and period 202001 opens for transaction postings. All transactions posted until that date will go into the old year (2019/20).
Agresso users will receive an email notifying them when the period changes and should await this email before entering 2020/21 data.
Departmental returns such as a creditors return, should only be completed by staff with financial responsibility. As happened last year, the Financial Accounts team will send out 'dummy run' data in the lead up to year end close. Departments should use this to clear down either books as much as possible to minimise what needs to be posted on the returns. They should also take this opportunity to familiarise themselves with the process using the instructions provided and asking central finance for any additional training needed.
All returns including nil returns need to be completed in full and returned to finance-yearend@.bath.ac.uk by 5pm, Monday 10 August 2019.
If you have any queries contact: