INTERNAL MEMORANDUM
To:
From:
All Staff with Financial Responsibilities
Date:
July 2015
Nicholas Holland, Group Financial Controller
YEAR END PROCEDURES
Instructions for the year end procedures with respect to purchases, internal recharges,
journal entries, payroll expenses and sales invoicing are enclosed, together with Journal
Templates, which should be submitted to your College Finance Team.
The Agresso back office and web system will be unavailable from Friday 31th July 2015
at 12 noon, returning on Monday 3rd August 2015.
The Finance Office website will have an area allocated to the year-end which can be found
at http://www.gla.ac.uk/services/finance/yearend/index.htm. This will be active from the 1st
July 2015.
If you have any questions please contact finance-mact@glasgow.ac.uk or you’re College
Head of Finance.
Head of College Finance
Arts – Liz Broe
MVLS – Andrew Charters
Science & Engineering – Brenda Massie
Social Sciences – Sharon McGregor
University Services – Alison Gailey
FINANCE OFFICE
University of Glasgow, University Avenue, Glasgow G12 8QQ
Telephone: 0141 330 2665 E-Mail: finance-mact@glasgow.ac.uk
INTERNAL MEMORANDUM
YEAR END PROCEDURES
1. Goods ordered using a Purchase Order (PO)
All Goods Received Notes (GRNs) for goods and services received and entered on the
system by 12 noon on Friday 31st July 2015 will be included as expenditure in 2014/15.
This is via an automatic accrual which is processed by the Finance Office. It is appropriate
to do so as the University has received the goods or service in the 2014/15 financial year.
2. Invoices process in the Library
Invoices processing in the Library have until noon on Friday 31st July 2015 to enter
these. Invoices received/entered by this date are guaranteed to be accounted for as
expenditure in the 2014/15 financial year.
3. Sundry payments, Foreign sundries and student expense payments (excluding
Mycampus payments)
To ensure sundry payments are included within financial year 2014/2015 payment
requests/ invoices should be received by Finance by the 23rd July 2015. These
invoices/ payment requests will then be scanned and required to be approved by
Schools/ Colleges within workflow by noon on Friday 31st July 2015 to be recorded
as expenditure in 2014/2015.
All foreign sundry payments received in Finance by 5pm on the 23rd July 2015 will
be processed into financial year 2014/2015. Any received after this date will be
processed in P1 of Financial year 2015/2016.
On Monday 10th August Finance will review any sundries and foreign payment requests
processed after this date for any accruals and process as necessary.
Student expense payments received by 5pm on the 24th July will be processed into
financial year 2014/2015. Any received after this date will be processed into financial
year 2015/2016.
4. Purchasing cards
All purchasing card transaction logs for the statement date up to 31st July 2015 must be
reconciled and sent to the Finance Office by Monday 17th August 2015. Purchase orders
FINANCE OFFICE
University of Glasgow, University Avenue, Glasgow G12 8QQ
Telephone: 0141 330 2665 E-Mail: finance-mact@glasgow.ac.uk
INTERNAL MEMORANDUM
should be raised and goods receipted for these transactions by 12 noon on Friday 31st
July 2015.
5. Internal recharges
The deadline for departments to process internal recharges for telephones, mailroom,
printing etc. is 12 noon 31st July 2015. Any re-charges received after this date will be
reflected in 2015/16.
6. Journals and corrections
Departments will be able to process journal entries and corrections for period 12 in the
normal way, up to noon on Friday 31st July 2015. Departments are required to notify
College Finance Teams of any mispostings or errors appearing in their monthly reports
(issued Wednesday 5th August 2015) which require correction before Wednesday 12th
August 2015, so that these can be corrected before the final run of reports. Any journals
that relate to 2014/15 must either be entered before the deadline on 31st July 2015, or
emailed to your College Finance Team for processing by 3.30pm on 12th August 2015.
Any journals out with these timelines will be excluded from 2014/15 income and
expenditure.
7. Endowment Funds / Fundraising Funds
Where accruals are required against endowment or fundraising funds details these should
be sent to Anne Wheeler prior to Friday 7th August 2015.
8. Expenses/Payroll
Expenses received up to and including 5pm Friday 24th July 2015 will be processed by
Friday 31st July 20154 and paid on Monday 3rd August 2015.The next weekly expenses
run will be paid on Friday 7th August 2015.
Please see Pay and Pensions website for Payroll deadlines for July 2015 pay.
9. Sales Invoicing
Sales orders must be raised and approved by 12 noon on 31st July 2015 to ensure that
these are included as income in 2014/15.
Please ensure all sales invoicing is up to date by this date.
FINANCE OFFICE
University of Glasgow, University Avenue, Glasgow G12 8QQ
Telephone: 0141 330 2665 E-Mail: finance-mact@glasgow.ac.uk
INTERNAL MEMORANDUM
10. Reports
PI reports for P12 will be issued on Monday 3rd August 2015. Budget holder reports will
be issued on Wednesday 5th August 2015. First draft Management Accounting reports will
be available on Wednesday 6th August 2015. These should be reviewed by Colleges and
any material adjustments required sent to finance-mact@glasgow.ac.uk, copying your
College Head of Finance by Friday 14th August 2015.
Final management packs for P13 will be issued on Monday 17th August 2015.
11. Campus – Financial Aid
Please ensure that all 2014 financial aid has been awarded by 12 noon on Friday 24th
July to ensure accounting for these transactions appears in financial year 2014/15. Please
note any financial aid awarded relating to 2015 will not appear in income and expenditure
for 2014/15.
FINANCE OFFICE
University of Glasgow, University Avenue, Glasgow G12 8QQ
Telephone: 0141 330 2665 E-Mail: finance-mact@glasgow.ac.uk