FY 2024 Closing Dates
|Month||Fiscal Period||ACTUAL Ledger Closing Date||ADJUST Ledger Closing Date|
Rules for Determination of Close Dates:
- There must be at least 5 business days after the month end to close the actual ledger. If there are less than 5 business days the ledger close will go out to the next Friday.
- The Friday for year-end close is the Friday of split payroll week. Due to July 4th holiday this year, year-end close will be on 07/19/2024 to allow additional time for year-end activities.
- Ledger closes are scheduled for Friday's due to the length of time is takes for monthly reports to run after closing.
Logic for ADJUST Ledger Close:
- The ADJUST ledger will be used for the monthly/quarterly adjustments after the ACTUALS ledger has closed.
- The ADJUST ledger will close 1 week after the ACTUALS ledger closes. For the quarter close, the ADJUST ledger will close 2 weeks after the ACTUALS ledger closes.
- For Fiscal Year End, it will close on the last work day of July.
Logic for Period 998:
- Period 998 is for annual adjustments.
- This period will open on April 1st and will close on August 30, 2024.
- After the period is closed, any additional adjustments will need to be requested thru the Associate Controller in the President's Office.
Additional Notes on Business Units:
Worcester Business Units:
- UMWOR, WUMMF, WCCCP, WCPSP, WCS00, WCS01, WCS03 thru WCS11, EL600, EL610 and EL650.
- WCS02 will be located in Amherst, but belongs to WCCCP.
Building Authority & Foundation Business Units:
- UMBLD and UMFND business units will follow the same closing schedule outlined above. Activities will be booked at the President's Office on a quarterly/annual basis. These business units are shared across campuses and are identified by campus using the department number. Below is the list of departments:
- AMH1000000 - Amherst
- BOS1000000 - Boston
- CEN1000000 - President's Office
- DAR1000000 - Dartmouth
- LOW1000000 - Lowell
- WOR1000000 - Worcester
UMass Global Business Units:
- UMGLB, UMCBE and EL800 business units will follow the smae closing schedule outlined above. Activities will be booked at the President's Office on a quarterly/annual basis.
ULARC - UMass Lowell Applied Research:
- ULARC business unit will follow the same closing schedule outlined above. Activities will be booked by the Lowell campus on quarterly/annual basis.