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AP & Concur Accruals for Fiscal Close

Last Updated: July 9, 2024 12:01:33 PM PDT
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Information on the AP and Concur accrual process for fiscal close.

Fiscal Year-End AP (Accounts Payable) and Concur Accrual

IPPS (Integrated Procure to Pay Solutions) posts expense accruals annually during fiscal year end. The accrual entries are prepared to post in the General Ledger (GL) only with project numbers for outstanding AP expenses of $2,500 or more that are in Oracle as of the ledger cutoff date of July 8. The accrual process will start on July 10, and reflect in the GL on or before July 13. If adjustments need to be made beyond the departmental journal entry cutoff date of July 17, then they can be submitted for VC office approval by July 24.

 

Reminders:

  • AP accrual journals are posted in the GL with accounting date of 6/30/2024 and automatically reverse on 7/1/2024.
  • If adjustments are made to the June AP accruals for any departmental annual year-end reporting needs, please make sure to reverse the adjustment in July.

 

ACCOUNTS PAYABLE

While most supplier invoices are received electronically at UC San Diego, there is a small percentage of invoices that are received via physical mail. Please ensure that all invoices dated on or before June 30, 2024 are submitted to IPPS through Payment Compass or Transcepta.

 

For Fiscal close, IPPS will accrue the following:

  • Oracle AP invoices totaling $2,500 or more in the system that are currently in “not validated” or “needs revalidation” status (not accounted to GL/PPM).
  • Oracle AP invoices totaling $2,500 or more in the system that are validated but pending approval (not accounted to GL/PPM).

 

Recommended Department Actions before June 30, 2024

  • Remind requesters and financial unit approvers to review and approve assigned invoices as soon as possible
  • Review personal “Worklist” under “Tools” for any pending AP invoice approvals
  • Proactively work with IPPS to resolve any invoice holds by submitting a ServiceNow ticket to Budget and Finance Support. Below are the ticket attributes to use:
    • I want to... Ask a Question or Make a Request
    • About... Invoices & Payables
    • Related to... AP Invoice Holds
    • More Specifically... AP Invoice Hold
    • Subject: AP invoice number and Purchase Order number
    • Description: [provide any additional information]

 

CONCUR

In preparation for Fiscal Year-End Closing, please reconcile Procurement Card, Travel & Entertainment Card and CTS card charges in Concur as soon as possible. In the upcoming weeks, through the end of June, the system will send reminders to individual cardholders who have outstanding expenses.

  • P-card expenses: reconcile within 30 days
  • Travel and Entertainment (Events) expenses: reconcile within 45 days of the business travel end date or event date

 

For Fiscal close, IPPS will accrue the following:

  • Expenses assigned to expense reports against the chart string(s) specified with the below conditions:
    • The report has not been approved or the report does not have a status of “Sent for Payment” and totals $2,500 or more, and:
    • For P-cards, the posted date of the expenses are on or before June 30, 2024.
    • For Travel and Events, the Business Travel End Date or Event Date is prior to or on June 30, 2024.
  • Card Charges not assigned to expense reports and total $2,500 or more per transaction.
    • In this case, accruals will post against the cardholder’s Profile Financial Unit/Project, if populated.  If not populated, they will post against the cardholder’s Primary [Payroll] Assignment Financial Unit/default project derived from OFC.
  • Review the Concur accrual data showing all unreconciled Concur expenses (data updated on 06/24/2024 and finally on 07/08/2024). 
    • Chart string values to be used for accruals are displayed under Columns BI (“f_entity”) through BQ (“f_future_2”).
    • Departments should also utilize the following reports to help review their Concur activities: (1) Concur Expense Reports (select all pending approval statuses except for "Approved"), and (2) Outstanding Card Charges.
  •  

Card charges represent the following:

  •  *UCSD – CTS Air, Hotel Card
  •  *UCSD – T&E Card
  •  *UCSD – Procurement Card
  •  *UCSD – T&E Instant Card
  •  *UCSD – Procurement Instant Card

NOTE: card transactions over 365 days old as of June 15th may be charged off to the cardholder’s Primary [Payroll] Assignment Financial Unit/default project derived from OFC.  Please prioritize reconciling these expenses as soon as possible.

 

Recommended Department Actions for Concur before June 30, 2024

  • Assign transactions to expense reports, i.e. move transactions from Available Expenses to applicable or new Expense Reports, fill out the Business Travel Dates or Event Dates and allocate the expenses to the appropriate chart string values.
    • Reminder: you must always fill out the Financial Unit and Approver.  Fill out the Project and Task, OR, the Fund and Function when not charging to a project.
    • Refer to this Services & Support article on How to Allocate Expenses in Concur.
  • To add/edit one’s “Profile” chart string, log in to Concur, Profile, Profile Settings and select Request or Expense Information
  • To view reports on Outstanding Card Transactions and Expense Reports for your department, visit the Business Analytics Hub and search for “Concur”
  • Submit Expense Reports and obtain all appropriate levels of approval by the Ledger Cutoff Dates for Travel, Events and Non-Events expenses.
  • Submit Expense Reports and obtain Financial Unit approvals for P-card expenses once a month. To post to the ledger for FYE, make sure they are approved by your Financial Unit approvers before fiscal year end.
  • Questions?  Submit a Services & Support case: 
    • Support.ucsd.edu, Budget & Finance, Get Help 
    • Select “Submit a Ticket to Budget & Finance Support” 
    • Under “More Specifically”, select “Concur Navigation”.  This will auto-populate the categories above.

PLEASE NOTE!

Do expense reports need to be submitted for transactions that are accrued?

    • Yes, they still need to be submitted for approval even after they were accrued.  Accruals are only an accounting entry to realize goods and/or services received in the same fiscal year. Transactions would still need to be assigned to expense reports and submitted in the new fiscal year.