Module close dates
All modules will be closed at 5 pm on the following dates.
| Module | Abbreviation | Close Date |
|---|---|---|
| Purchasing | PO | Fri 7 Aug |
| Inventory | INV | Fri 7 Aug |
| Accounts Receivable | AR | Mon 17 Aug |
| Accounts Payable | AP | Mon 17 Aug |
| Grants | GMS | Wed 19 Aug |
| Fixed Assets | FA | Thu 27 Aug |
| General Ledger | GL | Tue 1 Sept |
Key notes
Use of Shared Services Finance (SSF)
To help Shared Services Finance (SSF) prioritise work for the year end, institutions using Shared Services should:
- submit any 2025/26 items for processing five working days prior to the closure of AP (by close of business on 10 August)
- separate items to be processed in 2025/26 from those relating to 2026/27
- continue to send internal trading AP invoices to SSF as soon as they are received for processing in 2025/26, even if it is after the 10 August deadline
2025/26 invoices will be prioritised if you alert SSF to them.
Other reminders which are especially important over the busy year-end period
- only flag work as urgent where this is genuinely the case
- recoding tasks can be carried out in the institution, however if recoding is required by SS, a request can be made
Other than for supplier invoices, which should go into the SoftCo invoice automation system as soon as they arrive, institutions should hold back items for 2026/27 until after the current year-end deadline. If they are submitted before this time, clearly mark them as relating to 2026/27, and be aware they may not be processed until after the 2025/26 work is complete.
Getting postings in the correct period
In prior years the external auditors have found several transactions processed in the incorrect financial year. Institutions must review their accounts to make sure transactions are processed in the correct financial year.
Examples for institutions to look out for:
- sales invoices – review sales invoices raised in the 2025/26 Financial Year to make sure that the related goods/services were provided in the 2025/26 Financial Year
- eSales – check that income received from eSales is in the correct period for the related goods/services provided. The Finance Division will review income from eSales and confirm with institutions that they have posted journals for their deferred income
- purchase invoices – review purchase invoices processed in the 2025/26 Financial Year to make sure that the related to goods/services have been delivered or used in the 2025/26 Financial Year
Nil Net Book Value assets
An area under recurrent scrutiny from the auditors is the number of assets on the Fixed Asset Register with a Net Book Value (NBV) of nil. There is currently circa. 4,000 assets with nil NBV, some of which were purchased almost 40 years ago. It is therefore vital that these assets are physically verified to ensure that they remain within the University’s ownership and are still in use.
Concur Barclaycard and Out of Pocket expense claims
Ensure all Concur claims (Barclaycard and out of pocket) relating to 2025/26 have a Claim Date of 31 July 2026 or earlier. From 1 August, any claims going into CUFS with a claim date later than 31 July 2026 will go into the August GL period. Finance approvers can check and change the claim date within Concur by going to Details/Claim Header when reviewing a claim. This is important for any claims submitted in the first two weeks of August with 2025/26 spend on.
Ensure all claims relating to 2025/26 are fully authorised at least two days before the AP closure date (preferably sooner) and ensure that any advances are fully recovered. Don’t mix 2025/26 out-of-pocket expenses with items relating to 2026/27 (August) on the same claim.
Expense claims dated before 31 July 2026 that haven’t been transferred to CUFS will be accrued by the Finance Division on the Institution’s Cost Centre, the Source of Funds AZZY and transaction code FJAQ. The Finance Division will do this by 1 September.
Cambridge University Endowment Fund (CUEF) postings
The postings of the July distribution and the June/July revaluation are detailed below.
July CUEF distribution
The accrual for July CUEF distribution will be processed into institution accounts on the 21 August. This will allow institutions to review deficits within their accounts before the closure of the General Ledger on 1 September.
The correction of the accrual for the July distribution will be processed through Adjustment Period 1 after the General Ledger has closed to institutions. This will have no effect on institutions’ July period balances.
June and July CUEF revaluation
The June and July revaluation will be posted into institutions’ accounts on the 8 September after the General Ledger has closed for institutions. This will be posted into the July period and will show on the final summary report.
Leases
Leases must be reported in year-end financial statements. It is essential that all signed leases are submitted to FinLeaseReview@admin.cam.ac.uk by 25 August.