Fiscal Year End
Fiscal year end for 2021 is our first year end closing with Workday. A timeline is below. We’ll continue to update this page with new information.
Last updated at 4:30 p.m. on July 21, 2021.
Things to Know
- Fiscal year end for 2021 is June 30, 2021.
- We will host open office hours focused on year end processes.
- We will have a “thirteenth month” during which transactions that process after June 30 can still be captured as part of fiscal year 2021.
- Because we launched Workday in the middle of a fiscal year, processes will need to incorporate legacy systems as well.
- General Accounting will not be able to move pending manual journals and accounting adjustments to the next period the way they do for month end close.
- Both FY2021 and FY2022 will be open for an overlap period in Workday, so we will need to be attentive to be sure dates post in the correct year.
- Departments will no longer need to submit compensated balances (now called Compensated Absences) because of new Workday functionality. Leave liability will be reported directly from Workday.
- Workday reports can still be accessed throughout the year end process.
- Questions? Ask them here.
Announcements about fiscal year end
- Issue Resolved: FY21 Spend obligations liquidated in FY22
- Issue: FY21 Spend Obligations Liquidated in FY22
- Fiscal year end update: Carryforward
- Fiscal year end update: New date and details for carryforward
- FY21 closed, roll forward complete
- Fiscal year end close schedule adjustment
- New deadline for card transactions
- Reminders: FY21 and FY22 both open in Workday
- Create Receipt (Receiving and Delivery) for FY21 year end
- What happens to Core and Non-Core budgets at fiscal year end?
- Upcoming time entry deadlines
- Fiscal Year End: Update on closing purchase orders
- Fiscal Year End: EIB deadline updates and training
- Open office hours scheduled for Payments Team
- Fiscal year end approaching
Task to complete