Month End Close Calendar Adjustments

April 17, 2014

On April 1st, 2014, the first phase of the Oracle Assets implementation went live.   As a result of this implementation the month end close calendar will need to be modified. 

The current month end close deadlines are: 

  • AP Closes on Business Day 4 (3PM)
  • General Ledger Closes on Business Day 5 (9AM Start)

A pre-requisite for closing the Assets module is that AP must be closed.  Additionally, Assets must be closed prior to closing the General Ledger.  In order to keep the existing schedule for when the General Ledger closes, the AP close will need to be moved up one day.

Starting with the April close, the new month end close schedule will be as follows:

  • AP Closes on Business Day 3 (3PM)
  • Oracle Assets Closes on Business Day 4 (3PM Start)
  • General Ledger Closes on Business Day 5 (9AM Start)

Due to this change, in order to have an invoice processed in the current month, it must be sent to Accounts Payable (1033 Mass Ave) with a valid purchase order number the second to last business day rather than the final business day.  For example, for April month end, the invoices are due to Accounts Payable on Tuesday, April 29th as opposed to Wednesday, April 30th. 

Please note this process will go into effect for the April 2014 close.  For any questions please contact your TUB Finance Office.