Transcript Year End Training

July 2014
Fiona Hudson
 Why
required
 Types of adjustments
 Form filling
 Issues
 Timetable
 Management Reports
 Contact details
 Accounts
made simple!
 Financial Year to 31 July
 Allocate income/expenditure to correct year
 Income - earned or received in advance
 Goods/services - must have been delivered
 Expenditure - incurred or paid in advance
 Goods/services - must have been received
 Creditor
(we owe supplier)
 Debtor (customer owes us)
 Prepaid expenditure (paid in advance)
 Prepaid income (received in advance)
 Credit cards (we owe bank)
 Forms & guidance http://www.finance.stir.ac.uk/staff/financia
l-accounting/year-end-process.php
 Not
less than £50 per item
 Consolidate several items
 Select appropriate form for type of adjustment
 In same format as Agresso Journal Posting
 Amounts in one column
 Form MUST balance to zero with the balancing
entry being entered at the pre-printed account
code
 Full
description filled in at Narrative
 Save forms electronically
 Send to nominated contact in the school/
service area
 Automatic reversal of same
 “NIL” returns are required

Quarterly charges

Pre-payments made in year

Estimates (purchases and sales)
Internal charges treatment
Travel expenses
Overtime
Goods/services received and booked in
Goods/services ordered, but not received
Goods/services received but not ordered in Agresso






 Year-end
adjustments to be received by 1
August
 Collated by nominated person in each school
/service area
 E-mailed to the relevant service accountant
with subject “Year-end adjustment”
 Goods
purchased on Agresso must be booked
in, if received, by 31 July, 12.30pm. These will
be accrued centrally
 Invoices for goods NOT purchased on Agresso,
travel & expenses claims, requests for
payments must be in Payments Section by 24
July
 Don’t rely on internal mail on final day and
don’t leave all of these until the final week
 No further processing in current Financial year
 Sales
Invoices can be raised up to 10.00am
on 31 July
 All income banked daily, 31 July income to
be banked on 1 August and the banking sheet
sent to Finance also on the 1 August
 Stock
returns to be received by 4 August
 Equipment returns to be received by 1 August
 Disclosure of sales and purchases
 £25K limit before capitalisation
 First
Run – 8 August - will include all year-end
adjustments
 Second Run – 15 August - will include all
projects/research/special initiatives closed
off
 Your
service accountant (Forms)
 Angela Grant email (Payments Section)
 Alice Stewart email (Equipment returns)
 Fiona Hudson ext. 6195/Derek Stewart ext.
6194 (General queries)
School / Service Area
Nominated to collate year-end
adjustments
Service Accountant
Morag Crawford
Shona Morrison
Elizabeth Robertson
Shona Morrison
Angela Cowan
Alison Lindsay
Lynn MacGregor
Sandie Anderson
Mary Frances Kerr
Shona Morrison
School of Sport
Bob Hoolachan
Alison Lindsay
Stirling Management School
Alannaha Young
Shona Morrison
Estates & Campus Services
Lesley Morrison/Alison Lunn
Alice Stewart
Elaine O'Hare
Alice Stewart
Mandi Clark
Alice Stewart
Gail Miller
Alice Stewart
Rebecca Gilchrist
Fiona Hudson
Development & External Affairs
Pamela Hislop
Fiona Hudson
Finance Office
Lorna Mitchell
Fiona Hudson
HR & Organisation Development
Lesley McEwen
Fiona Hudson
Information Services
Margaret Angell
Fiona Hudson
Research & Knowledge Transfer
Sylvia Barnes
Fiona Hudson
Secretary/Principals Office
Caro McEwen
Fiona Hudson
School of Applied Social Science
School of Arts and Humanities
School of Education
School of Natural Sciences
School of Nursing, Midwifery and Health
Commercial Operations & Catering
Residential Services
Stirling Management Centre
Deputy Secretary's Office