Monthly General Ledger Closing Procedure
In general, the monthly close date is no more than five business days after the month end. At year-end, however, the ledger is kept opened to allow adjustments to be made, typically in the months of July and August.
- The Office Manager will verify that all required monthly journal entries have been entered and updated before the scheduled closing date/time. These required journal entries normally include:
- Bank Transfers
- Securities Transactions
- Depreciation entry
- Payroll updates/edits
- Office supplies activity
- Travel agency activity
- Employee benefits entry
- Internally Processed Allocations (IX) Entry
Note: This prevents further entries to the fiscal month.
These reports must run successfully.
A hard copy of the archived reports must be made.
Copies of this message must be sent to the:
- Assistant Controller
- Assistant Budget Director/Budget Operations
"Y" in the APRD table to a blank
Schedule the CUFSMCLS report to close the month in the financial management system (CUFS).
Note: Once this has been done, it is no longer possible to re-open that month.