Closing Dates - Monthly Financial

FY 2024 Closing Dates

Month Fiscal Period ACTUAL Ledger Closing Date ADJUST Ledger Closing Date
July, 2023 1 08/11/2023 08/18/2023
August 2 09/08/2023 09/15/2023
September 3 10/06/2023 10/20/2023
October 4 *11/09/2023 11/17/2023
November 5 12/08/2023 12/15/2023
December 6 01/12/2024 01/26/2024
January, 2024 7 02/09/2024 02/16/2024
February 8 03/08/2024 03/15/2024
March 9 04/05/2024 04/19/2024
April 10 05/10/2024 05/17/2024
May 11 06/07/2024 06/14/2024
June 12 07/19/2024 07/31/2024

 

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.
Last Updated: 
9/11/23