FY 2023 Closing Dates
| Month | Fiscal Period | ACTUAL Ledger Closing Date | ADJUST Ledger Closing Date |
|---|---|---|---|
| July, 2022 | 1 | 08/05/2022 | 08/12/2022 |
| August | 2 | 09/09/2022 | 09/16/2022 |
| September | 3 | 10/07/2022 | 10/21/2022 |
| October | 4 | 11/10/2022 | 11/18/2022 |
| November | 5 | 12/09/2022 | 12/16/2022 |
| December | 6 | 01/13/2023 | 01/27/2023 |
| January, 2023 | 7 | 02/10/2023 | 02/17/2023 |
| February | 8 | 03/10/2023 | 03/17/2023 |
| March | 9 | 04/07/2023 | 04/21/2023 |
| April | 10 | 05/05/2023 | 05/12/2023 |
| May | 11 | 06/09/2023 | 06/16/2023 |
| June | 12 | 07/14/2023 | 07/31/2023 |
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 07/14/2023 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 September 1, 2023.
- 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.
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:
3/8/23
