Fiscal Year-End 2024 Deadlines

April 11, 2024

Overview

Harvard's fiscal year 2024 will end on Sunday, June 30th, 2024. As in the past, the University will close the books through a series of steps called "closings." Download a printable version of the Summary Schedule for FY2024 Transactions and Reporting.

Please read this document carefully as there have been several changes to closing dates and times that are different from years past.

FY24 year-end closing dates:

Closing	Closing Date	Journal Deadline
First	Friday, July 5th	2:00 p.m.
Second	Friday, July 12th	2:00 p.m.
Third	Friday, July 19th	2:00 p.m.

In the following paragraphs, you will find closing deadlines and submission information for these financial transactions:

Accounts Payable
Vendor Setup, Maintenance & Reactivation
Credit Vouchers (Cash Receipts)
Credit Vouchers (Validated Deposit Slips)
Taxable Sales Deposits
Foreign Check Deposits on Credit Vouchers
Voided Checks
Stopped Checks
Escheat Checks
Foreign Currency Drafts and Wires
U.S. Wire Transfers
ACH Payments (Benefits/Tax)
Web Reimbursements Reports with Advance Settlements
Concur Reports
Central Accounts Receivable
Journal Entries
Interdepartmental Billings
Chart of Accounts Maintenance Requests
Year-end Reporting Guidance & Tips
CAPS Deadlines
Fixed Assets

In addition, to provide the tubs with more timely information during the FY24 year-end, there will be three additional refreshes to the Data Warehouse (HDW):

Sunday night, June 30th
Sunday night, July 7th
Sunday night, July 14th

June journals entered after Friday, June 28th nightly processing and before 6:30 p.m. on Sunday, June 30th will be in the HDW on the morning of Monday, July 1st.

June journals entered after the 2:00 p.m. deadline on Friday, July 5th of the 1st close and before 6:30 p.m. on Sunday, July 7th will be reflected in the HDW on Monday, July 8th.

June journals entered after the 2:00 p.m. deadline on Friday, July 12th of the 2nd close and before 6:30 p.m. on Sunday, July 14th will be in the HDW on Monday, July 15th.

These are the Central Financial Administration deadlines. Since some departments have internal deadlines that may be earlier than these, you should check with your local tub finance office to obtain any departmentally defined deadlines.

	Closing Deadlines and Submission Information
Accounts Payable (AP) (Invoices, non-employee reimbursements, including NR's, PR's, PO's, and invoice imports)	Invoice Submission - Monday, June 24th at 5:00 p.m. Holds Resolution - Friday, June 28th at 12:00 p.m.* FY25 processing begins Monday, July 1st. *Invoices not released from hold by June 30th at 12:00 p.m. will post to FY25.
Supplier Onboarding, Maintenance, & Reactivation	Supplier onboarding and maintenance requests must be submitted by Friday, June 14th. Appropriate forms and completed profile must also be received by the Supplier Onboarding team by this time as well.
OTM – Cash Management Contact: Checks: Frank Bilodeau at checkinquiryform@harvard.edu USD & FX Wires: Joe Mendes and Ellen Kelly at otm_wiretransferinquiry@harvard.edu	Voided Checks: All checks dated in calendar year 2024 checks that need to be voided and re-deposited must be received by Cash Management via email no later than 12:00 p.m. on Wednesday, June 12th for the credit to be posted in FY24. Escheat Checks: All checks dated in calendar year 2023 that need to be voided, stopped, or reissued must be received by Cash Management via email no later than 12:00 p.m. on Wednesday, June 5th for the credit to be posted in FY24. USD and Foreign Currency (FX) Wires: B2P payments to be made by USD/FX wire must be entered and approved by the tub no later than 5:00 pm on Tuesday, June 18th.
OTM – Cash Receipts Contact: Cash Receipts: cash_receipts@harvard.edu	Domestic Checks: Domestic check deposits accompanied by the Credit Vouchers must be received via USPS or University Mail no later than 5:00 pm on Friday, June 21st at Cash Receipts to be posted in FY24. We recommend that Schools/Units make the deposit directly at the bank if they do not expect the checks and Credit Vouchers to arrive at the Cash Receipts office on time (please follow the Departmental guideline below). Departmental: All items deposited at the bank through Thursday, June 20th must have associated Credit Voucher(s) and Validated Deposit ticket(s) submitted to Cash Receipts via email no later than 5:00 pm on Friday, June 21st to be posted for FY24. To allow for sufficient processing time in FY24, the Credit Voucher(s) associated with the validated deposit ticket for bank deposits made between Friday, June 21st and Friday, June 28th must be emailed to the Cash Receipts Office by 12:00 p.m. on Friday, June 28th for the income to be recognized in FY24. Taxable Sales: All items deposited at the bank through Thursday, June 20th must have associated Deposit Form(s) submitted to Cash Receipts via email no later than 5:00 pm on Friday, June 21st to be posted for FY24. To allow for sufficient processing time in FY24, the Credit Voucher(s) associated with the validated deposit ticket for bank deposits made between Friday, June 21st and Friday, June 28th must be emailed to the Cash Receipts Office by 12:00 p.m. on Friday, June 28th in order for the income to be recognized in FY24.
Concur Expense Reports	Concur reports submitted and fully approved by Friday, June 21st at 5:00 p.m. will be included in FY24, if no exceptions exist.
Concur Statement Reports (PCard)	Concur Statement reports submitted and fully approved by Thursday, June 27th at 5:00 p.m. will be included in FY24, if no exceptions exist.
Central Accounts Receivable	Central Accounts Receivable will close FY24 on Wednesday, July 10th at 5:00 p.m. The cut-off date for customer set up is Wednesday, July 3rd at 4:00 p.m. AR feeds, invoices, and credit memos processed by the tubs to be included in FY24 need to be entered into the Oracle AR system by 4:00 p.m. on Wednesday, July 10th. Central AR will accept invoice and credit memo templates that AR enters on behalf of local Units until 4:00 p.m. on Wednesday, July 3rd. From July 1st to July 10th, the GL date in Oracle AR will automatically default to the July 2024 (FY25) date. In order for transactions to be included in FY24 during this time, users will have to enter the date of June 30, 2024 to override the default date. This process applies to invoices and credit memos entered both manually and via feeds. Please note that receivables for goods or services provided in FY24 should be entered in the period of JUN-24, and not July, consistent with GAAP (Generally Accepted Accounting Principles).

Journal Entries - ADI and Manual Journal Deadlines

Closing	Journal Data Entry Deadline	GL Feed Deadline
First	Friday, July 5th, 2:00 p.m.	Thursday, July 4th, 5:00 p.m.
Second	Friday, July 12th, 2:00 p.m.	Thursday, July 11th, 5:00 p.m.
Third	Friday, July 19th, 2:00 p.m.	Thursday, July 18th, 5:00 p.m.
Daily input deadline: Monday - Thursday, 6:30 p.m.

GL-PCR Journal Deadlines

The deadline for GL-PCR entries is Friday, July 19th at 1:30 p.m., the day of the 3rd close.
The JUN-24 period will remain open as an option for journal preparers to select after the 3rd close on Friday, July 19th. However, GL-PCR journals uploaded after 1:30 p.m. on Friday, July 19th using the JUN-24 period WILL NOT be automatically posted to the general ledger. Any GL PCR journals uploaded after 1:30 p.m. on Friday, July 19th by Oracle users will automatically get deleted by the automated deletion program 45 days after journal submission unless it gets moved to another period (JUL-24 or later). This is accomplished by submitting a request to reopen the GL-PCR batch to HUIT at ithelp@harvard.edu and then changing the period once the batch is reopened.
If you have any questions regarding GL-PCR journals, please contact your tub analyst.

Please keep in mind the following:

The University will be closed on Thursday, July 4th in observance of Independence Day.
The JUN-24 period will remain open and an option for journal preparers to select after the 3rd close at 2:00 p.m. on Friday, July 19th. This option remains until the 5th close on Friday, July 26th. However, any journals uploaded using the JUN-24 period WILL NOT be automatically posted to the general ledger but rather require manual posting by Financial Accounting and Reporting (FAR) staff in Central Administration. Only the tubs’ central financial offices can arrange with FAR to have a journal posted in the 4th and 5th closes. Any other journals uploaded by Oracle users will automatically get deleted by the automated deletion program 45 days after journal submission unless it gets moved to another period (JUL-24 or later) or is deleted before then by the submitter.
Be careful to select the proper period (JUN-24 or JUL-24) when you are entering a journal. Beginning July 1st, the default period will be JUL-24 (FY25). If you want to post a journal to FY24 during July 2024 you will need to select JUN-24 as the proper period.
A journal should only be reversed by the person who created the journal, or with the permission of that person.
Tubs may choose to include additional deadlines. Please contact your tub finance office for more information.

NOTE: Based upon departmental activity and the reports you run through the month of May, please make any necessary adjustments as early in June as possible.

Interdepartmental Billings

All interdepartmental billings, whether entered manually, via an ADI template or via a feed to the General Ledger, must be processed by 2:00 p.m. on July 12th. (GL billing feeds are generally submitted by service centers like HUIT and UOS.)
If an interdepartmental billing journal needs to be processed after July 12th through the 5th closing, permission MUST BE obtained from the Central financial office of the tubs being both charged and credited. It is no longer acceptable to have the approvals coming from tub departments. Departments needing to get such journals processed need to contact their tub’s central finance office.
Interdepartmental billings should provide a name and contact number on the journal for questions or concerns the tub being billed may have.

Chart of Account Maintenance Requests

Disable Requests:

Friday, June 7th (MAY-24 close) is the last date that values will be disabled in FY24. Any CSMA requests not successfully disabled on June 7th will be held until the final JUL-24 close.

Requests to disable CoA values that require approval should be submitted through CSMA before 5:00 p.m. on Monday, May 20th. Disable requests that do not require approval should be submitted through CSMA before 5:00 p.m. on Monday, June 3rd.

Funds and sub activities with the status of "Ready to be disabled" in GMAS will be sent to CSMA on Tuesday, June 4th for processing. This is the last time sponsored funds and sub activities will be sent to CSMA to be disabled in FY24. The next time "Ready to be disabled" sponsored values will be sent to CSMA is Wednesday, September 3rd.

Add / Modify / Re-enable Requests:

Requests to add, modify, or re-enable CoA values submitted through CSMA will be processed according to the normal daily schedule (7:00 a.m. - 5:00 p.m., Monday - Friday) throughout year-end. CSMA requestors wishing to specifically designate for the JUN-24 period any CoA changes entered from July 1st through July 28th should enter 30-JUN-2024 as the effective date for their request.

GMAS will continue to send Add/Modify requests as usual during year-end. Requests to re-enable a sponsored fund or sub activity should be sent to the OSP Financial Analyst for approval by the OSP Portfolio Team Manager.

General Ledger Closings and Information Availability

Fiscal Year 2024 Closes	Transaction Listing Report Periods: Show Transactions "Between Dates"	HART Scheduled YE Closes "Event" Kick-off Date	Actuals Available in HUBS Reporting Application
First Close	Fiscal June Entries from June 1st through July 5th	Saturday, July 6th	Saturday, July 6th
Second Close	Fiscal June Entries from July 8th through July 12th	Saturday, July 13th	Saturday, July 13th
Third Close	Fiscal June Entries from July 15th through July 19th	Saturday, July 20th	Saturday, July 20th
Fourth Close	Fiscal June Entries from July 22nd through July 24th	Thursday, July 25th	Thursday, July 25th
Fifth Close	Fiscal June Entries from July 25th through July 26th	Saturday, July 27th	Saturday, July 27th

Tips and Tricks for Fiscal Year-End Reporting in HART

As the fiscal year end ends, many individuals have additional reporting responsibilities. Here's how to make your fiscal year-end reporting using HART a bit easier.

System Availability

The HDW nightly loads run from 8:00 p.m. to 7:00 a.m. Do not run dashboards during this time, as an incomplete nightly close process may provide you with incomplete data.

Performance Tips

For speedier results, consider using the Transaction Listing All-Lite dashboard.
- The dashboard includes only child object codes to find your chart values faster.
- It has the Fiscal Year prompt to make it easier to obtain your FY24 or FY25 entries.
- You will still be able to take advantage of all the HART features: exclude columns, subtotal, move columns to prompts and sections, export, print, save customizations and send bookmarks links.
If using the Transaction Listing dashboards, use the Period prompt to obtain your results faster.

Period to Period Prompt: Use Carefully!

During the fiscal year-end period, two fiscal years will be open after Friday, June 28th. This will affect the results that you get when using the Period-to-Period prompts which means that:
- HART will consider the current fiscal year as FY25.
- The Prior Fiscal Year selection will return FY24 data.
- The Current Fiscal Year to Last Closed Period selection will not return any data because there is no closed period in FY25 until the July 2024 close.
- The Current Fiscal Year to Current Open Period selection will show transactions posted to the month of July 2024.

Closing Selection Prompt

Use the Closing Selection prompt in conjunction with the appropriate Period or Fiscal Year prompt selection(s) for faster results. The Closing Selection prompt will update with the closing selection dates on July 3, 2024.
When you select one of the Closing Selection prompt ranges, you get everything that was posted during that time frame, whether it posted to June or July. Use the Closing Selection prompt in conjunction with the appropriate Period prompt selection(s) to ensure you are getting only the data you want.

Add in the Posted Date Column to Your Search Results

Consider adding the Posted Date column to your search results (available via right-click) so that you will be able to see the date that something was posted to the General Ledger. This can help you determine whether the transaction has been posted for the previous fiscal year or the current fiscal year. Please note that this column is not available in the Transaction Listing – Lite dashboard.

Exporting Data

When exporting large amounts of data, use the Export link under your search results and select the Data>>Excel or Data>>CSV Format option.
HART Row/Data Limits:
- The maximum number of rows viewable on a dashboard page is up to 5000, depending on the dashboard (some may only display 200, or 500, or fewer than 5000).
  - If you export, the maximum number of rows and cells that will be exported on a dashboard is up to 500,000 rows, or up to 20,000,000 (20 million) cells.
  - Important Note: When HART returns results, it considers not only the default columns returned on the dashboard, but also any right-click columns that are found on the dashboard. This can have an impact on a dashboard such as the Transaction Listing, which has approximately 80 columns returned in the right click menu.
Users wishing to export many columns on the Transaction Listing Dashboards may want to consider exporting the results from a Transaction Listing Lite Dashboard, as that dashboard has only 29 columns.

CAPS Fiscal Year-End 2024 Deadlines

To ensure that all necessary approvals are in place and all accounting entries are completed on time, appropriate CAPS forms must be submitted to Central Administration by your School/Unit's Authorized Requestor through the CAPS automated system by the dates set forth below.

Friday, May 17th - Completed Project Proposals (PPs) and Construction Authorizations (CAs) submitted by this date will be processed, and CIP activities enabled where applicable, for FY24. This includes soft closes as these are initiated by a revised Construction Authorizations. If a Construction Authorization is needed before May 17th, plan new Project Proposals accordingly.
- Process change due to migration: PP Initiate will be disabled at the end of day on May 17th. In addition, any CA submitted after this date will be returned to Tub for cancellation.
Friday, June 14th - Completed Construction Close Requests (CCRs) submitted by this date will be processed for FY24. Please note that Oracle Fixed Assets (OFA), GL and CCR balances must be equal and have no future charges pending and no invoices in Mass Additions. CAPS will be unavailable for new forms starting EOD on June 14th, 2024 (i.e. start of CAPS blackout period).
- Process change due to migration: CAPS Preparer role will be disabled starting at the end of day on June 14th to insure there are no draft forms in the queue.

With the migration of CAPS approvals from Oracle to CPATH planned for July 2024, it is imperative that these deadlines are met. Only approved forms will be migrated to CPATH. Unapproved forms will have to be manually recreated in CPATH post migration.

Unlike previous years, CAPS users will not be able to create new forms and submit to CADM, with the expectation that it will be in CAPS workflow following the blackout period. As stated above, all CAPS forms must be fully approved prior to the planned migration. To coordinate with the Fixed Assets closing, as well as the Oracle CAPS Approval migration to CPATH, CAPS is extending the year-end blackout period to Sunday, July 14th.

Oracle Assets Fiscal Year-End 2024 Deadlines

The following dates represent the deadlines for activity related to or in the Oracle Assets sub-ledger.

	Closing Deadlines and Submission Information
AP Adjustment Forms entered into Oracle	Friday, June 21st at 5:00 p.m. Note: please ensure that an approver is available to approve an AP Adjustment request prior to the deadline below. Any AP Adjustment approved after the June 28th deadline below will post in FY25.
AP Adjustment Forms approved in Oracle	Friday, June 28th at 12:00 p.m. Note: the AP to OFA feed is shut off from June 30th to July 12th. All FY25 AP activity will be fed to Oracle Assets on July 15th.
Trade-in Notification	Information sent to far_fixed_assets@harvard.edu no later than Friday, June 28th.
WIP Placed in Service Notification Forms sent to FAR	Forms sent to far_fixed_assets@harvard.edu no later than Friday, July 5th.
Sales of Equipment	Cash received by Cash Management per their Fiscal Year-End deadlines. Asset must be retired in Oracle Assets, and information on sale sent to far_fixed_assets@harvard.edu no later than Friday, June 28th.
CIP and Equipment accruals posted by Tubs prior to third close journal deadlines	Friday, July 19th at 2:00 p.m.
Mass Additions queue cleared; all transactions posted to either a Capital or CIP Asset	Wednesday, July 10th at 5:00 p.m.
Non-cash retirement of assets and impairments	Wednesday, July 10th at 5:00 p.m.
Final Assets Close for FY24	Thursday, July 11th at 9:00 a.m.
Tubs run reports for Fixed Asset reconciliations	Thursday, July 11th upon receipt of email indicating that Assets has closed (anticipated mid-afternoon)
Depreciation in HART	Friday, July 12th at 9:00 a.m.

Who to Contact List for Closings

	Office	Location	Phone
Accounts Payable	Accounts Payable		5-8500 option 1
Credit Vouchers	Cash Receipts	1033 Massachusetts Avenue, 2nd floor	6-8332
Check voids / re-deposits	Cash Management	1033 Massachusetts Avenue, 2nd floor	5-4175 checkinquiryform@harvard.edu
Wires and drafts	Cash Management	1033 Massachusetts Avenue, 2nd floor	6-3018 otm_wiretransferinquiry@harvard.edu
Concur reports	Reimbursement & Card Services	1033 Massachusetts Avenue, 2nd floor	5-8500 option 2
AR invoices	Accounts Receivable	1033 Massachusetts Avenue, 2nd floor	5-3787
Journal vouchers	Financial Accounting & Reporting	1033 Massachusetts Avenue, 3rd floor	6-3375
Fixed Assets	Financial Accounting & Reporting	1033 Massachusetts Avenue, 3rd floor	far_fixed_assets@harvard.edu
Cost transfers-Sponsored funds	OSP Research Finance	1033 Massachusetts Avenue, 5th floor	osp_cost_transfer@harvard.edu
HART	HUIT ATS Reporting, Analytics & Integrated Data Team (HUIT ATS RAID)	8 Story Street, Cambridge, MA	huit-ats-hart-help@harvard.edu