Don't miss the year-end close deadlines
by Anita Lockridge, Vice President for Finance and Administration
The fiscal year-end is a busy time for finance departments and Southwest’s is no exception.
Teamwork is essential for the preparation of financial reports.
Listed below are some important dates related to the College’s year-end close Friday, June 29, 2018.
Accounts Payable/Purchase Orders
All receiving reports shall be forwarded to the Receiving Department immediately upon receipt of merchandise. Receiving reports for items received on or before June 29 must be posted in receiving by Friday, July 6, 2018.
All invoices for standing orders and invoices that do not require purchase orders receiving should be approved for payment and forwarded to Accounts Payable immediately upon receipt of goods or service. All invoices for goods and services received on or before June 29 must be received in Accounts Payable by Wednesday, July 11, 2018.
Travel Claims for travel in FY-2018 must be received by Thursday, July 5, 2018. Travel Claims received after July 5th will be processed against your FY-2019 budget.
All travel authorizations will expire automatically on June 29. Authorizations for the new fiscal year for faculty and staff must be submitted to Accounts Payable by July 10, 2018.
Any travel that is completed by June 30, 2018 in which a travel advance was provided must have travel expense claims completed, approved and submitted to Accounts Payable by Thursday, July 5, 2018.
Petty cash receipts must be submitted to the Cashier’s Office for reimbursement by Friday, June 15, 2018 at 2 p.m.. Petty cash receipts received after June 16th will be processed against your FY-2019 budget.
Adherence to these deadlines is necessary to ensure accurate and timely financial reports.
Should you have any questions, please contact Associate Vice President for Fiscal Operations Mike Neal at 901-333-4978 or email@example.com.