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AP module closes at 5pm on Monday 15 August

 

Essential Tasks

Final date for completion

Submit 2021/22 AP items for processing to Shared Services by end of the day

Mon 8 Aug

Clear all remaining Invoices on Hold

Thu 11 Aug

Concur depts: All pre-August Barclaycard transactions to be coded in Concur and fully approved

Thu 11 Aug

Recode all 2021/22 Internal Trading AP invoices

Thu 11 Aug

Notify Finance Division of any disputed Internal Trading invoices

Thu 11 Aug

Process all remaining 2021/22 AP items

Mon 15 Aug

Code all remaining Barclaycard expense forms, if using this option

Mon 15 Aug

Return supplier statement reconciliations to Finance Division

Wed 24 Aug

 

Finance Division key dates for information

Key date

List of top 20 suppliers, by value, sent to departments

Wed 1 Jun

July Barclaycard statements available

Mon 1 Aug

Resolved Internal disputes notified to departments

Mon 15 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 10 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 15 August. Reports will be sent to the same users as the supplier reconciliation notifications. Please notify Accounts Payable if this should be any different.

The Accounts Payable module will close at 5pm on 15 August. Invoices relating to 2021/22 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.

  • Check the volumes of invoices in various states at a glance using the Cognos AP Dashboard. For guidance refer to the AP training webpage. There is a video and documentation. The dashboard numbers include:

    • Incomplete Invoices, which are invoices that have never been validated, or need revalidation

    • Invoices on all other types of Hold (excluding SIA and Payment holds)

    • Unprocessed Internal Invoices are those Internal Invoices with remaining balances on the AZZY source of funds that need to be recoded

    • Invoices Due for Payment are approved invoices with payment due dates within the next 7 days

    • Invoices Paid Last Week might be useful to you if you’re looking to see if a particular invoice has been paid recently

    • Invoices on Secondary Approval Hold

    • Invoices on Payment Hold

  • Validate and Secondary Invoice Approve (SIA) or cancel as appropriate.

  • Remove the holds or receipt any delivered goods or services as appropriate.

The CUFS reports, Invoice Register (UFS) and Invoices on Hold Report (UFS), are still available and maybe useful if you require an immediate view as the Cognos AP dashboard numbers are only updated overnight.

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 2021/22

To be processed by 15 August with a GL date of July 2022 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 15 August.

Any necessary accounting entries for disputed invoices will be agreed with both departments and posted by Central Finance.

Internal order disputes can still be resolved and corrections posted by Central Finance up until 30 August when the General Ledger closes.


Enter and approve purchase (AP) invoices for 2021/22

Invoices processed after 31 July should be classified between:

  • July 2022 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 2022 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 2022 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 15 August. Thereafter, all invoices will have to be processed in the new accounting year 2022/23. Invoices relating to the 2021/22 year received after 15 August should be accrued as creditors. Refer to the guidance issued within General Ledger, Accruals.

 


Barclaycard statements

The July statements will be available to download from 1 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 17 August, or the GL before 30 August.

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 under FPM Chapter 6: Credit card procedures.

Departments using Concur for their expense claims and Barclaycard coding should refer to Key note 1.8


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 2022 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 2021/22 to ensure they have been processed. Obtain copies of, and process immediately any credit notes mentioned on supplier statements not already on CUFS.

  • Statements from suppliers should be requested, retained and checked to AP invoices.
  • Records should be kept for audit purposes.

On 1 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 24 August.

 

 

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