SWANSEA UNIVERSITY
INTERNAL MEMORANDUM
FINANCE DEPARTMENT
To:
Heads of Colleges / Departments/ QL-X Users
From:
Senior Assistant Director of Finance
IMPORTANT NOTICE
End of Financial Year Procedures
As you are aware, the financial year ends on 31st July 2015.
I enclose a schedule of the various tasks that need to be completed by Colleges / Departments in order
to finalise the 2014-15 accounts.
Attached to the schedule are a number of returns that have to be completed by your college /
department and returned to my office. It is most important that the deadlines stated in the schedule are
met in order to ensure that the accounts are prepared in sufficient time to be audited and approved by
the relevant University Committees.
A meeting has been arranged in the Wallace Lecture Theatre at 10.30 a.m. on 17th July 2015 to explain
the procedures. I should be grateful if you would ensure that a representative from your College /
Department attends the meeting.
The opportunity will also be taken to run through any changes to the Financial Policies and Procedures
for 2015-16.
Please note that copies of all the attached forms will be available after 17th July from the Finance
Department Web Site http://www.swan.ac.uk/Finance/StaffInformation/Year-End
Departments must return Forms A (non POP users) and B electronically to Sam Edwards
(s.j.edwards@swansea.ac.uk) by 10th August.
Thank you for your assistance.
N DOYLE
PLEASE PASS A COPY OF THIS LETTER TO THE MEMBER OF STAFF IN YOUR COLLEGE / DEPARTMENT
RESPONSIBLE FOR FINANCIAL ADMINISTRATION.
c.c. Finance Department Section Heads
END OF FINANCIAL YEAR PROCEDURES
1. Payment of Suppliers Invoices
Goods and services received by 31st July 2015 must be charged to the 2014-15 financial year. The external auditors
have commented adversely on the University’s procedures in the past where this principle has not been followed. The
following procedures must be followed:

All suppliers’ invoices received in the Payments Section of the Finance Department on or before 23rd July will be
processed in the 2014-15 financial year. All invoices received in the Finance Department after 24th July will be
processed in the 2015-16 financial year and will not be posted in the QL system until after 5th August in order to
ensure that commitment balances are as accurate as possible

Please note that between 24th July and 1st August no urgent payments will be processed involving Purchase Order
Processing (POP) transactions.

For POP users, goods received prior to 31st July 2015 must have the actual date of receipt entered on the system.
Access to QL will be turned off at 5:00 pm on Monday 3rd August to enable POP period end to be run on Tuesday 4th
August, therefore receipting of goods on POP must be completed by close of play on 3rd August. Please note that QL
will be unavailable for a short time on the 4th August. By 4th August, the Finance Department will produce a
spreadsheet showing all outstanding commitments over £500. Colleges / departments should check this list
carefully and indicate clearly which commitments should be charged to the 2014-15 financial year, i.e. goods or
services received prior to 31st July 2015. The report will show Order No., Description of Goods, Code and Value.
Colleges / departments should also add any goods or services received prior to 31st July 2015 but for which no
orders have been placed. No internal recharges should be included. These spreadsheets should be returned to
Sam Edwards by 10th August 2015.

For Colleges / Departments not using POP the enclosed pro-forma (Form A) should be used to list any goods and
services received prior to 31st July 2015 but for which an invoice has not been passed to the Finance Department for
payment by 23rd July 2015.
The pro-forma must be returned on an excel spreadsheet, a copy of which may be obtained by downloading from
the Finance Web Site.

Any invoices received for goods or services received after 31st July 2015 will be charged to the 2015-16 financial
year. Such invoices should be clearly marked and sent to the Payments Section in a separate batch.

For Purchasing Card transactions the Barclaycard statement will be produced on 26th July, any transactions up to
this date on the statement will be automatically included in the 14/15 accounts. Any transactions between 27th and
31st July or not on the statement, where goods and services have been received should be accrued on form A.
2. Collection of income
Income due to the University for goods or services provided by 31st July 2015 must be reflected in the 2014-15 financial
year. The following procedures must be followed:

If your college / department has provided goods or services to an external organisation you should complete an
invoice request form and forward it to the Income Section by 31st July 2015.

Any invoice request forms for goods or services provided prior to 31st July 2015 but received in the Finance
Department after 31st July 2015 will be processed in the 2015-16 financial year (see below).

If you are unable to forward a completed invoice request form to the Income Section by 31st July 2015, you should
estimate the value of goods and services provided prior to 31st July 2015 and record the information on the
enclosed pro-forma (form B) and return it to my office by 10th August 2015. Only goods or services with an
estimated value in excess of £500 need be recorded. Nil returns will be required. VAT should not be included.
Please return the forms to Sam Edwards.
The proforma must be returned on an excel spreadsheet, a copy of which may be obtained by downloading from
the Finance Web Site.

Any invoice request forms for goods or services provided after 31st July 2015 will be reflected in the 2015-16
financial year. Such forms should be clearly marked and sent to the Income Section in a separate batch.
3. Receipts in advance
If you receive income prior to 31st July for a service that you will not provide until after 31st July, such income must be
included on Form A (nb not Form B), e.g. where payment is received for a conference that is not taking place until the
new year.
4. Register of authorised signatories
The Purchasing Officer will contact you separately regarding the arrangements for submitting the revised authorised
signatory forms.
5. Departmental Stores
Departmental Stores are defined as stores on which the annual expenditure on goods purchased exceeds £250k per
annum. Where such stores are held a stock take should be carried out at 31st July 2015. I will be writing separately to
departments to explain the arrangements for carrying out stock takes.
6. Departmental Inventories
Departments should update inventories on a regular basis. Departments should note the following requirements
of the University’s Financial Regulations:
a)
b)
only items costing £3,000 (excluding VAT) or more need to be recorded
and
inventories are not required by Finance Department.
7. Petty Cash
A certificate for each petty cash float held by your department will be forwarded to you during the next week. I
should be grateful if you would complete the certificates and return them to the Cash Office by 10th August 2015.
9. Internal Recharges
The final date on which internal recharge forms for the 2014-15 financial year may be received in the Finance
Department is 4th August 2015. Recharges received after this date in respect of the 2014-15 financial year will
not be processed. Internal recharges should not be included on any Form A’s.
9. Computer Statements
The July computer statements will be distributed around 7th August 2015. I should be grateful if you would
arrange for the statements to be checked carefully and any inaccuracies notified to the Finance Department by
13th August 2015.
The final computer statements for 2014-15 will be produced around 14th August 2015. Again these must be
checked carefully in your department and any inaccuracies notified to the Finance Department within five
working days. No amendments to your 2014-15 accounts will be allowed after that date.
10. Forms
Copies of all the attached forms can be downloaded after 17th July from the Finance Department Web
Site http://www.swan.ac.uk/Finance/StaffInformation/Year-End
Please note that Forms A and B must be returned electronically to Sam Edwards
(s.j.edwards@swansea.ac.uk) by 10th August 2015.
N DOYLE