Year End Procedures

Easterseals New Jersey Fiscal Year Endis August 31.

Accounts Payable

To achieve proper valuation of Easterseals New Jersey’s assets at fiscal year-end,invoices must be charged in the fiscal year in which the goods are received and used, services are performed, or the travel takes place.

Therefore, invoices for goods not delivered to you,services notperformed, and travel that will not take place until afterAugust 31, 2016 will be charged to next year’s (FY17 budget).

Check Disbursements:

Accounts Payable will cease printing checks on August 29, 2015 at 3:00 pm. This will be the last check run for fiscal year 2016. Please plan accordingly for any check requests that may be needed. As a reminder, receiving goods and services must take place prior to August 31, 2016 and not payment that is being rendered to vendors. However, if you need a check to be cut to a vendor prior to 8/31/16, please ensure that you submit your requests to Accounts Payable prior to August 26, 2016. Any request received after August 26, 2016 will have a check date of September.

Invoices:

Invoices for goods, services, and travel on or before August 31, 2016must be submitted to Accounts Payablefor payment as soon as possible, but not later than the close of business on September 9, 2016. Please note that all invoices must have proper approval signatures, coding and purchase order back-up in order to be approved for entry. Any invoices that are missing items may prevent the invoice(s) from being entered into Fiscal Year 2016. All services being rendered prior to August 31, 2016, must be encumbered in the Microix System.

Travel:

All travel and expense vouchers for taking place on or before August 31, 2016 must be submitted to Accounts Payable for payment as soon possible, but not later than the close of business on September 19, 2016. Any item for travel and expense vouchers received after this date will be charged in fiscal year 2017.

Purchasing/Receiving:

Purchase Orders are encumbered in the fiscal year the delivery date falls. The delivery date must be the date that you actually receive the goods or services. For any item/service that will not be received until after 8/31/16, a delivery date of 9/1/16 or later must be used. All PO’s should be reviewed and ensure that all items are received on or before August 31, 2016. Any items that are received after August 31, 2016 will be charged to fiscal year 2016. To ensure your purchases will arrive by August 31, 2016 all orders must be approved and in the accounting/purchasing department no later than August 19, 2016, 4:00 pm. To assist Accounts Payable in the fiscal year end process, departments are requested to review the status of all outstanding purchase orders, particularly those that have not been received or remain outstanding. If you need assistance or if you have questions pertaining to purchase orders, please contact Toni Nuzzo at (732) 812-6142.

Cash Management

As we approach the fiscal year end, Easterseals needs to maintain a substantial cash flow. Please check desk drawers or other areas where checks would be stored to ensure that all funds have been submitted to accounting. All checks must be in the accounting department no later than August 29, 2016 at 12pm. If checks are received during the last week in August, overnight checks or physically bring the checks to admin to meet the deadline. Please direct all checks to Carleen Jules in Accounting.

Thank you,

Accounting Department