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2022 Key notes

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Use of Shared Services
Getting postings in the correct period
Cambridge University Endowment Fund Postings
Special Roll Forward requests
Expenses Concur

Use of Shared Services

To help Shared Services prioritise work for the year end, departments using Shared Services are asked to:

  • submit 2021/22 items for processing five working days prior to the closure of AP (by close of business on 8 August)
  • separate items to be processed in 2021/22 from those relating to 2022/23

However, as the deadline for other departments to raise internal AR invoices to you is 10 August, please continue to send any invoices received as you get them to Shared Services for processing within 2021/22, even if this is after the 8 August deadline. 2021/22 invoices will be prioritised if you alert Shared Services to them.

Other reminders which are especially important over the busy year-end period:

  • Some departments send a large amount of older invoices around year end. Please help Shared Services cope with the tight deadlines by sending invoices in a timely manner throughout the year, and aim to clear any backlog before July. Where possible, sending small, regular batches is preferred to sending large batches weekly/fortnightly.
  • Please only flag work as urgent where this is genuinely the case.
  • Recoding tasks can be carried out in the department, unless the recoding is required to correct an error by Shared Services. It is unlikely that the team will be able to prioritise recoding requests until after the AP module has closed for 2021/22.

It would be preferable for departments to hold back items for 2022/23 until after the current year-end deadline. If you do submit them over this time, please clearly mark them as relating to 2022/23, and be aware that they may not be processed until after the 2021/22 work is complete

Getting postings in the correct period

During the previous year’s audit, the external auditors found a number of transactions that had been processed in the incorrect financial year. Departments are asked to review their accounts to make sure transactions are processed in the correct financial year.
Examples for departments to look out for are:

  • Sales Invoices – Review sales invoices raised in the 2021/22 Financial Year to make sure that the related to goods/services were provided in the 2021/22 Financial Year  
  • eSales – The income received from eSales are in the correct period for the related goods/services provided.  The Finance Division will be doing a review of income from eSales to correct transactions that are in the wrong financial year.
  • Purchase Invoices – Review purchase invoices processed in the 2021/22 Financial Year to make sure that the related to goods/services have been delivered or used in the 2021/22 Financial Year.

Cambridge University Endowment Fund (CUEF) Postings

Due to the changes of terms of the CUEF, the postings of the July distribution and the June/July revaluation are as follows:

  • July CUEF Distribution

The accrual for July CUEF distribution will be processed into Department accounts on the 19 August.  This will allow departments to review deficits within their accounts before the closure of General Ledger.
The correction of the accrual for the July distribution will be processed through Adjustment Period 1 after the General Ledger has closed to Departments.  This will have no effect on Departments July period balances.

  • June/July CUEF Revaluation

The June/July revaluation will be posted into Departments accounts on the 7 September after General Ledger has closed for Departments.  This will be posted into the July period and will show on your final summary report.

Special Roll Forward requests

Standard roll forward balances will be created as at close of business on 5 September, but the deadline for specific requests is midday, 8 September. The objective is to allow time for specific requests to be submitted to Finance Managers for review.

Expenses - Concur

For Departments using Concur for their expense claims and Barclaycard coding, we recommend running these reports on Concur before the year end:

Report name:

Report looks for:

Parameters to use:

Expense accrual

Out-of-pocket expense claims started but not submitted/authorised

Run with today’s date

Select only Cash under Payment Types

Barclaycard transactions not yet claimed

Barclaycard charges relating to 2021/22 which haven’t been submitted and coded

Run report from Earliest date to 31-July-2022

Details of how to look for these can be found on the expenses site (must be logged in to Raven).

Please ensure all claims relating to 2021/22 are fully authorised at least two days before the AP closure date (preferably more). If possible don’t mix 2021/22 out-of-pocket expenses with items relating to August 2022 on the same claim.

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