Financial System EventsFinancial System Events

Knowledge of when specific Financial Events happen can be critical in analyzing financial data. This page lists Financial Event Families (i.e. logical groupings of events). Each of the below links directs the user to details of various Financial Events.

Click here to view the Financial & Business Services Calendar.

Accounting Month Closed

Please see the Accounting Calendar for: Management Reports Closing Dates, Transaction due Dates for Departmental Deposits, Journal Entries and Interface Billings & PCard Reallocation

Accounting Month Date Closed Statement Available
May 06/12/2018 06/12/2018 
April 05/10/2018 05/10/2018
March 04/11/2018 04/11/2018
February 03/10/2018 03/12/2018

Accounting Month – Period of time from the first of the calendar month until the month has been closed (usually the 6th or 7th working day of the following month). Date Closed – The date when all accounting data for the month has been input and the month has been closed. Statement Available – The date when the Evidence of Review application is open.

Payroll Processing

Pay Period(s) Ending Pay Day Pay Sheet Created Payroll Processing Completed Payroll Posted to General Ledger
05/31/2018 06/07/2018 05/31/2018 — 06:17 PM 06/04/2018 — 04:18 PM 06/07/2018
05/15/2018 05/22/2018 05/15/2018 — 06:43 PM 05/17/2018 — 04:28 PM 05/19/2018
04/30/2018 05/07/2018 04/30/2018 — 06:07 PM 05/02/2018 — 03:43 PM 05/05/2018
04/15/2018 04/20/2018 04/13/2018 — 08:47 PM 04/17/2018 — 03:42 PM 4/20/2018 
 
Pay Period(s) Ending – For GL purposes (i.e. Payroll Journals and Hardcopy EBT Reports) there are only two pay periods per month: the 15th and the last day of the month. In reality there are other payrolls that may run each month (e.g. Cell Phone pay period which is usually the 16th of the month and other pay periods as needed to allow for year-end adjustments). All special payrolls are included in one of the “regular” GL journals and EBT reports. The WEB Check and Advice roster will show each pay period separately.
Pay Day – The date which employees are paid.
Pay Sheet Created – This date /and time marks when the Payroll Process “begins”. All PAN distribution changes after this time will not take effect until next pay period.
Payroll Processing Completed – All checks have been created. The Check/Advice roster has been prepared. The WEB EBT data is now available. Several GL adjustments, including the encumbrance calculations, occur between this point in time and when the Payroll journal is actually posted to the General Ledger (see next event). Other GL adjustments include Reallocations, Work Study, etc. There may be a delay between the creation of the Check/Advice Roster and when the WEB EBT data is available. This event will be recorded when both have occurred. A FBS News Post will continued to be created when the Check/Advice Roster is available.
Payroll Posted to the General Ledger – Indicates the Payroll Journal has been posted to the General Ledger and all reports are current. The information shown on WEB Journal Detail and Encumbrance reports is updated sometime during the previous day.