2014/15 FINANCIAL YEAR END PROCEDURES
The financial year end falls on Friday 31 July 2015.
For a period from 1 August, both 2014/15 (period 12) and 2015/16 (period 1) will be open for processing
(except for the external purchase ledger which closes on 31st July 2015). The aim of the following
procedures is to ensure that, during July and August, transactions are included in the appropriate financial
year. For further information please refer to the FAQs on the finance services webpage.
The procedures outlined below cover the following financial transactions:
1. External purchases (including foreign payments and creditors)
2. Sales (including debtors)
3. Income
4. Staff business expenses
5. Non-staff and student expense claims
6. Payroll claims
7. Petty cash expenditure
8. Internal trading
9. Equipment
10. Other key dates
Other year end documentation included separately: Link to CD forms
1. CD1/2015
CD1/2015/A CREDITORS (EXTERNAL) - for outstanding payments to be made by the University
for goods or services received on or before 31 July 2015, where there is no purchase order, or
there is a foreign payment due.
CD1/2015/B PREPAYMENTS (EXTERNAL) - for purchase invoices processed in advance in
2014/15 relating to goods or services to be received in 2015/16.
CD1/2015/C NON-STAFF AND STUDENT EXPENSES – for non-staff and student business
expenses that relate to 2014/15 i.e. where expense is incurred on or before 31 July 2015 but has
not been passed to Accounts Payable by 18th July for inclusion in 2014/15. (All staff business
expenses should be picked up through the automatic accrual of the expenses system, if not,
include them here).
2. CD2/2015
CD2/2015/A DEBTORS (EXTERNAL) - for outstanding monies due to the University where goods
or services have been supplied on or before 31 July 2015, but not yet invoiced.
CD2/2015/B INCOME (EXTERNAL) IN ADVANCE - for income invoiced in advance in 2014/15
for goods or services to be supplied by the University in 2015/16
A code checker has been incorporated into the CD forms so that no forms with inactive or closed codes will
be accepted by corporate accounting, these will be returned to the sender and not processed. Codes need to
be active before the CD form is submitted.
3. Detailed procedures in relation to RESEARCH ACCOUNTING TRANSACTIONS to ensure
maximisation of research data will be issued at the start of July 2015.
Please ensure that all staff in your College/Service etc. who deal with financial matters are given copies of
these procedures and documentation.
Staff should note that the deadlines for direct input of purchase and sales invoices to APTOS will be
enforced by the closure of period 12 at the end of the working day of the relevant deadline.
If there are any queries arising or further explanation required, please do not hesitate to contact Izzy Clayton
(i.clayton@exeter.ac.uk; Ext. 3076) or Tanya Hitchen (t.m.hitchen@ex.ac.uk; Ext 5009) or refer to the FAQs.
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2015 Detailed Year end procedures
1a. PURCHASE INVOICES (external)
CONTACT
Invoices received up to and including 31st
July 2015 for goods/services received in
2014/15 and matched by 31st July 2015
Invoices received after 31st July 2015 for
goods/services received by the
University prior to 1st August 2015
Process as normal in 2014/15 Period 12
Invoices received after 31st July 2015 for
goods/services received on or after 1st
August 2015
Gill Pearn Ext 2777
Process invoices as normal in 2015/16
Period 1 these will be included in the
review of auto accruals to be issued August
4th
Please see details of the process for
Auto accruals of external purchases on the
finance services webpage
Process invoices as normal in 2015/16
Period 1
Deadline:
31st July
Deadline
for return:
5pm
10th August
1b. FOREIGN PAYMENT REQUESTS
CONTACT
For goods/services received in 2014/15 ;
up to 17th July submit foreign payment
request forms in the usual way
After 17th July 2015 for goods/services
received by the University prior to 1st
August 2015;
Submit to Accounts Payable for processing
in 2014/15
Deadline:
17th July
Complete form CD1/2015/A, for exchange
rates see http://www.xe.com/ucc/ and
return to financialreporting@ex.ac.uk (£500
is the suggested materiality level). This is
particularly important for research and other
externally funded projects that complete on
or before 31st July 2015
Deadline:
5pm
10th August
For goods/services received on or after
1st August 2015.
Gill Pearn Ext 2777
AND
Submit foreign payment request form in
normal way to Accounts Payable for
processing in 2015/16
Process foreign payment request forms as
normal in 2015/16 Period 1 clearly mark
2015/16
Notes
The key date is the date goods and services are received, not the date of the invoice, nor the date the
invoice is received; you cannot choose in which year’s budget to apply costs, you must account for the
costs in the year to which they apply.
Where a part delivery has been made, do not process the invoice for part- payment. Include the part
amount due on the creditor schedule (CD1/2015) and process the whole invoice in 2015/16.
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2015 Detailed Year end procedures
1c. CREDITORS (where the University owes money)
CONTACT
Izzy Clayton Ext 3076
Goods/services supplied to the
University prior to 1st August 2015 for
which there is no purchase order.
Complete form CD1/2015/A – estimate if
necessary – and send to
financialreporting@ex.ac.uk (£500 is the
suggested materiality level.) This is
particularly important for research and other
externally funded projects that complete on
or before 31st July 2015
Deadline
for return:
5pm
10th August
Goods/services supplied to the
University prior to 1st August 2015 for
which there is a purchase order.
Review the automated accrual circulated to
Colleges and Services issued Aug 6th to
ensure that it has been correctly included.
Please see details of the process for
Auto accruals of external purchases on the
finance services webpage
Deadline
for return:
5pm
10th August
2a. SALES INVOICES (external)
CONTACT
Supplies of goods/services made up to
and including 31st July 2015
Issue sales invoice as soon as possible
after date of supply, dated when raised or
31st July 2015, whichever is earlier
Phil Jones Ext 5029
OR
(if invoices are normally issued on your
behalf by Accounts Receivable) submit
request to Accounts Receivable clearly
marked 2014/15
Deadline:
7th August
(period 12
closes)
Deadline: to
be received
by
7th August
Notes
Where a college or service manually raises an invoice outside of APTOS, either in GBP or a foreign
currency, for the supply of goods/services up to and including 31st July 2014 and the money has not
been received by this date, then a copy of this invoice should be sent to Accounts Receivable by the
deadline of 7th August 2015.
Supplies of goods/services already
invoiced in 2014/15 for which a credit
note is required
Submit request to Accounts Receivable
clearly marked 2014/15
Deadline:
7th August
Payments (relating to sales invoices)
received up to and including 31st July
2015
Send immediately to Accounts Receivable
for processing
Deadline: to
be received
by 12 noon
31st July
Goods/services supplied after 31st July
2015
Issue sales invoice as normal in 2015/16
dated August 2015
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2015 Detailed Year end procedures
2b. DEBTORS (people who owe the University money)
CONTACT
Izzy Clayton Ext 3076
Goods/services supplied by University
prior to 1st August 2014 for which the
invoice has not been issued by 7th
August 2015
Complete form CD2/2015/A return to
financialreporting@ex.ac.uk (£500 is the
suggested materiality level)
Nil Returns are also required
3. ACCOUNTING FOR INCOME
RECEIVED
CONTACT
Areas sending cash via the Cashier’s
Office for transit to the bank by
professional carrier for income up to and
including 31st July 2015.
Cash/cheques/cards received up to and
including 31st July 2015 and processed
by Cashier’s Office.
Ensure the cash and paperwork are sent or
taken promptly to the Cashier’s Office
Deadline:
3rd August
Ensure receipts relating to 2014/15 are kept
separate from receipts relating to 1st August
2015 onwards
Send or take immediately to the Cashier’s
office, together with paperwork
Deadline:
3rd August
Deadline: to
be received
by
5pm
10th August
Liz Shillingford Ext 3098
Notes
On no account must cash from the old year be mixed with cash from the new year. Please note that
special cash collections can be arranged if necessary – contact Estate Patrol Ext. 3999
Cash received by Finance Services after the deadline of 1st August will be processed in
2015/16, irrespective of the date on the paperwork.
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2015 Detailed Year end procedures
4. STAFF BUSINESS EXPENSE
CLAIMS AND PURCHASING CARDS
CONTACT
Please see details of the process for
Staff expense claims and purchasing cards
on the finance services webpage
These will be converted to an electronic
accrual to be posted by finance services
systems support.
The electronic accrual will be circulated to
finance staff in Colleges and Services at
10am on the 6th August to:
 Confirm that all items should be
accrued;
 Confirm/add coding
A response should be submitted by the
deadline
Complete form CD1/2015/C and return to
financialreporting@ex.ac.uk. This is
particularly important for research and other
externally funded projects that complete on
or before 31 July 2015. (£500 is suggested
materiality level)
AND
Submit expense claims on the expenses
system in the usual way
Scrutinise a report of all claims submit in
the financial year; for narrative for activity
dates in 2015/16. Extract these as
prepayments and enter on CD1/2015/B
Submit expense claims on the expenses
system in the usual way
Expense claims dated prior to 1st August
2015 on the expenses system and
submitted by the 5th August.
Expense claim for costs that relate to
2014/15, which have not been entered in
Expenses on Line by the 5th August
Expense claims for costs that relate to
2015/16.
Expense claims for costs incurred after
31st July 2015.
Gill Pearn Ext 2777
Deadline:
5pm
10th August
Deadline: to
be received
by 5pm
10th August
Deadline: to
be received
by 5pm
10th August
5. NON-STAFF AND STUDENT
EXPENSE CLAIMS
CONTACT
Non-staff/student expense claims for
costs incurred in 2014/15.
Non-staff/student expense claims
RECEIVED in Accounts Payable by 17th
July 2015 will be processed in July.
Deadline: to
be received
by 17th July
Non-staff/student expense claims for
costs incurred in 2014/15, received by
17th July, that relate to 2015/16 activity.
Complete form CD1/2015/B and return to
financialreporting@ex.ac.uk.
Non-staff/student expense claims that
relate to 2014/15, which will be received
by Accounts Payable after 17th July
deadline.
Complete form CD1/2015/C and return to
financialreporting@ex.ac.uk. This is
particularly important for research and
other externally funded projects that
complete on or before 31st July 2015.
(£500 is suggested materiality level).
AND
Submit expense claims to Accounts
Payable in normal way.
Submit expense claims to Accounts
Payable in normal way.
Deadline for
return:
5pm
10th August
Deadline for
return:
5pm
10th August
Non-staff/student expense claims for
costs incurred after 31st July 2015.
Page 5 of 8
Tanya Hitchen Ext 5009
2015 Detailed Year end procedures
6. PAYROLL CLAIMS
CONTACT
Tom Gardner Ext 5579
E-claims:
Claims paid via ‘Claims Payroll’ for
work done in 2014/15 processed
through the e-claims system.
Any claims that are APPROVED in the eclaims system by the 7th August 2015 will
be automatically accrued for in 2014/15.
Deadline: to
be approved
by
7th August
5pm
Therefore approvers should ensure that
they APPROVE all claims in relation to
2014/15 by the 7th August 2015.
Any claims made in the e-claims system
in relation to August 2015 should NOT BE
APPROVED before the 11th August,
otherwise they will be accrued for in the
2014/15 accounts.
August claims must be approved between
the 11th-14th August in order to make the
deadline for payment in August.
Paper-claims:
Claims paid via ‘Claims Payroll’ for
work done in 2014/15.
Includes PD82s
Excludes PD71 forms and PD107
forms (these are processed as part of
‘Main payroll’). This also excludes
PD85s as these are paid in the month
to which they relate.
Claims should now all be submitted via
the e-claims system. However, any
approved paper claims relating to work
done in 2014/15 that are RECEIVED in
Payroll by midday on the 10th August will
be automatically accrued for in
2014/15. Make sure that these claims are
well marked as 2014/15 work.
Deadline: to
be received
by
10th August
noon
Any paper claims received in relation to
2015/16 will be returned with a request for
submission on the e-claims system.
The accrual for both e-claims and paper
claims will be posted by corporate
accounting on August 12th.
Any PD71 and PD107 forms relating to
2014/15 work will need to be included on
a CD1\2015\C form
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2015 Detailed Year end procedures
7. PETTY CASH EXPENDITURE
CONTACT
Liz Shillingford Ext 3098
Petty cash expenditure up to and
including 31st July 2015
Send petty cash book and claim for
reimbursement to Cashier’s office
Deadline
3rd August
Notes
Do not send in a claim for reimbursement which spans both years. It is acceptable to close off petty
cash earlier than 31st July 2015 and include all subsequent expenditure in 2014/15 unless material
to the college/service.
8a. INTERNAL TRADING
SALES INVOICES (Z-accounts)
CONTACT
Trish Tester Ext 5038
Goods/services supplied internally on or
before 31st July 2015
Issue sales invoice as soon as possible
after date of supply but by 24th July 2015
Goods/services supplied internally on or
before 31st July but not invoiced by 24th
July 2015
Issue sales invoice in 2014/15 dated 1st
August 2015
Deadline:
24th July
(period 12
closes)
(See note
below)
Notes
The deadline to enter 2014/15 internal transactions has remained as late as possible in order that the
majority of internal transactions can be processed in the normal way (i.e. what happens throughout the
year). This should effectively eliminate the need for internal transactions to be accrued for and, for this
reason, the CD3 forms will not be issued as a matter of course.
8b. INTERNAL TRADING
PURCHASE INVOICES (Z-accounts)
CONTACT
All internal invoices dated up to and
including 24th July 2015
Process for payment as soon as possible
following receipt but before 7th August
2015. Any outstanding balances will be
then be direct debited.
Ensure supplying department and Trish
Tester have been formally notified.
Direct Debiting of any unresolved invoices
will be performed by close of play on the
11th August.
All outstanding disputed invoices will be reinstated in 2015/16 pending resolution.
Disputed internal invoices
(Please make every effort to resolve
these prior to 31st July 2015)
Trish Tester Ext 5038
Deadline:
7th August
Deadline:
31st July
Notes
If there is a need to provide for an internal transaction and the value is material to the receiving AND
supplying department, a CD3/2015 form can be requested from Corporate Accounting and the
accrual(s) may be submitted by mutual agreement.
Internal sales invoices dated on or after 1st August 2015 will not be able to be processed by the
receiving college/service until Tuesday 13th August when the old year internal purchase ledger has
been closed and the new year internal purchase ledger has been opened.
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2015 Detailed Year end procedures
9. EQUIPMENT
CONTACT
Capital equipment schedules (items
costing more than £25,000)
Inventory schedules (items costing
between £500 and £25,000)
To be issued during July 2014 –
confirmation of equipment purchases
exceeding £25,000
To be issued during July 2015 –
confirmation that inventory schedules are
held by individual Colleges/Services. These
may be inspected during the course of the
external audit.
10. APTOS DATES
CONTACT
Commitments
Commitments will be rolled forward in Aptos
by Finance Services Systems Support. A
reminder will be sent out to remind staff to
review the commitments in July before this
is performed.
All Aptos Balances to be circulated to
Colleges and Services by the 16th October
to confirm which items to be rolled forward
on separate codes. Revised procedure
notes to be circulated to clarify process.
Roll forward of Aptos
Page 8 of 8
Ian Toogood Ext 2213
Deadline
for return:
7th August
Deadline
for return:
7th August
Martin Henson Ext 5443
Deadline
for review:
31st July
Deadline
for return:
23rd
October
2015 Detailed Year end procedures