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AP module closes at 5pm on Monday 17 August

 

Essential Tasks

Final date for completion

Submit 2019/20 AP items for processing to Shared Services.by end of the day

Mon 10 Aug

 

Recode all 2019/20 Internal Trading AP invoices

Mon 17 Aug

 

Clear all remaining Invoices on Hold 

Mon 17 Aug

 

Process all remaining invoices for Group Defined organisations

Mon 17 Aug

 

Process all remaining 2019/20 AP items

Mon 17 Aug

 

Code all remaining Barclaycard expense forms

Mon 17 Aug

 

Return supplier statement reconciliations to Finance Division

Wed 26 Aug

 

 

Finance Division key dates for information Key Date
List of top 20 suppliers, by value, sent to departments  Fri 5 Jun
July Barclaycard statements available to print Mon 3 Aug
Resolved Internal disputes notified to departments Mon 17 Aug

 

It is essential that all supplier invoices and all expense claims, whether from employees, students or other individuals, are processed in the correct accounting period

 


 

Accounting for AP invoices

Please ensure that all supplier invoices received after 31 July are accounted for in the correct period.

From 12 August, the AP Team will be issuing daily reports listing:

  • August invoices posted in July; and
  • July or earlier invoices posted in August (if applicable).

This enables users to check invoices have been accounted for in the correct period. In all cases please ensure that invoices are only processed in July if the goods were received in July. If you see an invoice processed in the wrong period, please correct this before AP closes on 17 August.

Reports will be sent to the same users as the supplier reconciliation notifications. Please email the AP helpdesk if this should be different.

The Accounts Payable module will close at 5pm on 17 August. Invoices relating to 2019/20 processed after this date should be accrued if material in value. This does not apply to invoices charged to grants. (Refer General Ledger, Accruals)


Review of outstanding invoices

All outstanding invoices must be reviewed and all holds/queries are dealt with accordingly.

  • Run and review the Invoice Register (UFS) report showing all invoices not yet primary approved (i.e. validated). Validate and Secondary Invoice Approve (SIA) or cancel as appropriate.
  • Review the Invoices on Hold Report (UFS). Remove the holds or receipt any delivered goods or services as appropriate.

NB Invoices on hold (other than those only awaiting SIA) at period end will not be accrued or charged in General Ledger. The AP team will regularly distribute the AP Holds and Unaccounted Transaction Report (UFS) to departments.


Review Internal AP invoices for 2019/20

To be processed by 17 August with a GL date of July 2020 or before.

For invoices in dispute: as all outstanding internal invoices will be automatically validated, departments must place an internal dispute hold on relevant invoices. All invoices in dispute which cannot be resolved should be referred to the AP Helpdesk as soon as possible for advice. Disputes resolved by the Finance Division will be notified to departments by 17 August.

Any necessary accounting entries for disputed invoices will be agreed with both departments and posted by the Finance Division. Internal order disputes can still be resolved and posted up until 1 September when the General Ledger closes.


Enter and approve purchase (AP) invoices for 2019/20

Invoices processed after 31 July should be classified between:

  • July 2020 or earlier purchases i.e. ONLY goods/services received on or before 31 July should be recorded in July accounts. The purchase order date is irrelevant.
  • August 2020 purchases (for the new accounting year): For invoices dated July that relate to August purchases (eg. equipment rental payable in advance), the GL date should be changed from July to August.

Goods/services ordered in July or earlier but delivered/received in August are August purchases and must be recorded in August.

For invoices dated August that relate to July purchases (where the goods/ services were delivered/received prior to the end of July):

  • Ensure that the GL date on the invoice header screen and the invoice line screen is amended to 31 July 2020, prior to approval of the invoice.
  • Do NOT change the GL date shown against the VAT line.

For invoices dated August that relate to August purchases:

  • Retain the August GL default date.

NB: The AP module will continue to accept July and prior purchase invoices until 17 August. Thereafter, all invoices will have to be processed in the new accounting year 2020/21. Invoices relating to the 2019/20 year received after 17 August should be accrued as creditors. Refer to the guidance issued within Creditors, Section 3.8.


Barclaycard statements

The July statements will be available to print from 3 August and will be posted in AP to the July period. Each cardholder will have their own statement but departments should be able to print/download into PDF all statements in one go. Departments have the option to process these transactions in AP before it closes, or via a journal in either Grants, before 19 August, or the GL before 1 September. Balances not cleared before the GL close will roll forward to AZZY as part of the normal year end process.

Detailed procedural instructions can be found here .


Staff and visitors’ expense claims

Expenses need to be processed in the appropriate financial year. As expenses are paid in arrears, please ensure July (or earlier) expenses have a July 2020 GL date and an appropriate Expenditure Item Date if charged against a grant


Review and return supplier statements

All supplier statements should be reviewed for invoices relating to 2019/20 to ensure they have been processed. Statements from suppliers should be requested, retained and checked to AP invoices. Records should be kept for audit purposes.

On 5 June, Finance Division will send a list to each department of their Top 20 suppliers, by value for the year. From this list, you are required to select ten suppliers (having considered both the value and number of transactions). The selected ten supplier statements need to be reconciled as at 31 July. 

  • The statements from suppliers should be requested and checked to AP invoices. 
  • Records/statements should be retained for audit purposes.
  • The department’s ten selected supplier reconciliations should be returned to the Finance Division by 26 August.

Group finance transactions

All AP transactions with the entities listed in Appendix E should be processed before the AP closure date of 17 August 2020.

As part of the Group consolidation process, any transactions which occur between these entities and the Academic University, are required to be separately identified as Group-related i.e. inter-company transactions.

The Central and Research Accounting section must be informed of any invoices in dispute with the listed entities as at the 31 July that have not been processed.

CORONAVIRUS/COVID-19
FOR STAFF

Please see our CORONAVIRUS/COVID-19 Assistance pages for help with areas of Finance during the current situation.

UFS issued communications and the University website also contain information on this topic

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