SMART Finance News You Can Use

As you get ready to enter POs for next year, all the Periods on the Accounting Calendar need to be open through 202601. For Periods 202513 and 202514, open GL only. Contact someone in Finance if you need help with this. Once the period 202601 is open, POs can be saved for the next fiscal year. 

Before you know it, FY25 fiscal year end will be here!  Below are some cleanup items you'll want to start looking at as you have time:  Open Invoices (for those who use invoicing) Go to Accounts Receivable/Invoice Summary. Choose status of OPEN and click on find/retrieve. You can then click on the Inv Date column header to rearrange it so that the oldest invoices show up first. Your district should go through any old invoices and identify whether they should still be out there or i...

In February and March, Region 1 will begin reviewing each district’s accounts for FY25 UFARS compliance. As we run UFARS Chapter X edits, we will contact you with errors that need to be corrected. We will also review all pandemic grant accounts and shut off all but a few remaining finance codes. 

We will be emailing 1099 instructions in the beginning of December.  All 1099s must be e-filed by 01/31/2024! This leaves little time for corrections without jumping through hoops to e-file correcting 1099s. Initial accuracy is at a premium. In preparation, please review your initial 1099 balances by going to Agency>Vendor 1099’s>Vendor 1099 Balance. Enter 2024 in the Year column and click Find.