Sent to the AFS-Update mailing list on July 9, 2021
All campus units must submit their accruals and deferrals, final budget alignments, and error corrections no later than Friday, July 16. No exceptions will be made. Departments must close the fiscal year in a solvent condition. All KFS documents must be in final status to be included in the period.
Cancellation of Non-Final Period 12 & 1 Docs
At the end of the day on July 16, any GEC, BA, BAT, YEDA, or AV documents for Period 12 of 2020-21 and period 1 of 2021-22 that are not in final status will be canceled by the system.
It is recommended that any fiscal year 2021-22 documents be initiated after July 16 to avoid unintended system cancelation. If a transaction in a canceled document should be recorded in period 1, it will have to be re-entered or copied.
Don't Forget Supporting Documentation During Fiscal Close!
To ensure your transactions can be approved as efficiently as possible, please make sure all relevant supporting documents are attached to your KFS documents. For financial transactions like error corrections, accruals/deferrals, and other financial journals, this means uploading supporting documents to the Notes and Attachments tab. Additionally, be sure to put a detailed explanation in the Document Overview tab to describe the purpose/transfer of the journals.