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2016/17 Year-End Timelines

Must be received in Financial Services by:

Be sure to read the full details as referenced – there are some personal tax as well as budget implications to be aware of:

 

March 1, 2017

  • The Payroll Department is responsible for processing all salary costs and corrections. In order to ensure that there is enough time to process corrections in this fiscal, the cost centre changes must be processed through the HR appointment system and requests for manual corrections must be communicated to payoll, prior to March 1, 2017. If you miss this date, the Finance Department will not process a journal entry correction or internal transfers to "fix cost centre balances". Missing the deadline is not sufficient cause to bypass the Payroll Department's responsibilities. (see “k” in Year End Guide)

 

March 10, 2017

  • List of outstanding purchase orders to be cancelled due to non receipt of goods prior to March 31, 2017 (see “c” in Year End Guide)

 

March 13, 2017

  • Requisitions for open purchase orders (see “f” in Year End Guide)

 

March 15, 2017

  • List of revenue recorded during 2016-17 fiscal year which should be deferred to 2017-18 year (see “i” in Year End Guide)

 

March 28, 2017

  • Reconciled Purchasing Card Statements (see “g” in Year End Guide)
  • Payroll information – appointments and timesheets for all hours worked up to March 31. 2017 (see “k” in Year End Guide)

 

March 31, 2017

  • Invoices and signed receiving copies of purchases for goods and services received up to March 31, 2017 (see “a” in Year End Guide)

  • List of accruals for goods and services received up to March 31, 2017 for which no invoice or packing slip has been received (see “b” in Year End Guide)

  • Travel expense claims and settlement of travel advances for trips to March 31, 2017 (see “d” in Year End Guide).

 

March 31, 2017

  • Petty cash voucher reimbursements @ cashier's office must be RECEIVED no later than March 31, 2017 @ 3:00pm. (see “e” in Year End Guide)
  • Balance Petty Cash fund as of March 31, 2017 – return confirmation to Accounting along with cheque request for replenishment and recording of expenses (see “e” in Year End Guide) must be RECEIVED by Accounts Payable no later than April 1, 2017.

 

March 31, 2017

  • Requests for invoice(s) for supplies and services provided to third parties prior to March 31, 2017 (see “h” in Year End Guide)

  • Accrual of amounts owing to VIU for supplies and services provided to third parties prior to March 31, 2017 where billings are not appropriate (see “h” in Year End Guide)

 

March 31, 2017

  • Journal entries for correction and reallocation of transactions (see “l” in Year End Guide)

  • Identify fiscal year on all revenue deposits (see “j” in Year End Guide)

  • List of cost centers to be closed (see “m” in Year End Guide)

 

April 3, 2017 Noon

  • Noon - Deadline for departments to complete reviews of March and submit adjustments (non-salary) to finance. (see “l” in Year End Guide)