Financial Accounting and Reporting provides services that include interim and year-end financial closings (e.g. journal entries, Workday financial reports, University financial statements), general ledger maintenance (e.g. new funds, cost centers, accounts, activity codes and location codes), capital projects, fixed assets and equipment inventories, sponsored grants, endowment and gift accounting, and banking and treasury.
The information contained on this page will assist with the following:
- Year-End and Interim Closings
- Reporting Deadlines
Please feel free to forward any reporting questions you have to firstname.lastname@example.org.
Banner Financial Training through Cognos
The documents below are critical to proper financial reporting. The macros are used to format reports once they are produced through Cognos. Be sure to save this file in the D:\Userdata\Excel directory.
- Campus Financial Reporting Instruction Manual (PDF)
- Cognos 10.2 Upgrade Information (PDF)
- Campus Financial Reporting Quick Guide (PDF)
- Demonstration Video: Using Excel Macros for Cognos 8.4 Reports
- Downloading and Installing Macros for Excel 201x Instructions (PDF)
- Financial Reporting Macros (XLS)
Petty Cash/Change Fund Training
This presentation will assist managers of petty cash and change funds in understanding their responsibilities for disbursement, documentation and safeguarding of University resources.
Journal Entry Training
Please visit the Training & Support worklet in Workday
Frequently Asked Questions
|What are the monthly deadlines/cut-off days?||All journal entries are due to Financial Services by the 2nd business day after month end. Cash receipts received by FS by 11am of the last business day of the month will appear on your monthly reports.|
|When are monthly reports available?||Monthly reports will be available by the morning of the 6th business day of the following month. You will be notified within Workday when reports are ready.|
|How do I get questions researched?||Invoice & Payment questions: Accounts Payable: email@example.com.
Deposit questions: Accounts Receivable: firstname.lastname@example.org
Payroll entry questions: Payroll: email@example.com.
All other questions should be directed to firstname.lastname@example.org.
|Can I receive goods during this fiscal year and expense them in the next fiscal year?||If an item is received by June 30, it must be expensed in June. There are no exceptions to the rule.|
Monthly Reporting Deadlines
- All Journal Entries are due to Financial Services (FS) by the 2nd business day after month end.
- Cash receipts received by FS on or before 11:00 a.m. by the close of the last business day of the month will appear on your monthly reports.
- Monthly reports will be available by the morning of the 6th business day of the following month.
Fiscal Year End Information
Financial Accounting & Reporting
Fiscal Year End
This is the central location to find documents and information pertaining to Wake Forest’s fiscal year end.
Key Year End Related Forms & Links
Financial Accounting & Reporting
Month End Closing Procedures
All subsystems are to close their month by the second business day of the following month. This is also the date when journal entries are due to financial reporting. All journal entries received from campus departments are reviewed by Financial Services (FS) before they are entered.
The general ledger is normally closed by the fifth business day following month end. Once the ledger is closed, a notification is sent by FS to an established distribution to notify all appropriate campus users that the month is closed and they can view final reports online. These monthly reports should be used to assist departments with their analysis of actual to budget revenues and expenses. Departmental questions concerning monthly charges should be submitted to email@example.com. Responses from FS should be within two to three business days.
Account reconciliations (XLS) are due to area managers by the 25th day of the following month. All area managers are responsible for reviewing account reconciliations for completeness and accuracy. A log of all account reconciliation’s and the person responsible for them is maintained on the shared drive. The account reconciliations and the log are reviewed monthly by FS.