Guide
Financial Year End
Updated on 10 August 2023
Guidelines and deadlines for Financial Year End 2022-23
The 2022/23 financial year ends on 31 July. The information below is provided to ensure all income and expenditure relating to financial year 2022/23 is accounted for correctly. Please ensure this information is cascaded to the appropriate members of staff in your area, particularly those dealing with purchase order receipting and purchase card holders.
Although many of us are working on a hybrid basis and may be off campus over part of the year-end period, the year-end principles remain the same. Our focus should be given to ensuring all transactions, tasks and housekeeping in OneUniversity are up to date for the end of the financial year.
Only goods and services received before the end of July can be accounted for in 2022/23. We understand that some expenditure originally planned for the 2022/23 financial year may not be incurred by 31 July but it is essential that we record our income and expenditure correctly. If we have not received the goods or service by 31 July, we cannot account for the cost in 2022/23.
Key dates and deadlines for the year-end
| Deadline | Category | Notes |
|---|---|---|
| 31 July | Sales Invoices | Ensure all sales invoices are entered in OneUniversity by midday on 31 July. This will give the afternoon for all approvals to take place, ensuring the income is posted in 2022/23. |
| 31 July | Stock | Complete a stock count at the end of the year for all material stocks, complete the Stock Record Form and return it to your Senior Finance Business Partner by 3 August. Please liaise with the Financial Accounting team for further advice if you have significant stock levels. |
| 31 July | Purchase Orders and Receipts |
To ensure the expenditure is automatically accounted for in 2022/23 please ensure all purchase orders are receipted by 5pm for all goods and services received on or before 31 July. Where the receipting is not done the cost will be accounted for in 2023/24. If you become aware of an order where the goods or services were received before the end of the financial year but the order was not receipted please contact your Senior Finance Business Partner to arrange a manual accrual. |
| 31 July | Staff Expenses | Ensure all expense claims are processed in OneUniversity and are approved and finalised by this date. Any expense claims for costs relating to 2022/23 submitted or finalised after this date will be accounted for in 2023/24 and may be rejected by approvers. Please ensure you share this message widely in your School or Directorate. |
| 31 July | Purchase Card Expenditure | All purchase card items should be coded and approved by this date. Items not coded will be automatically accrued on the default code which would result in expenditure being incorrectly coded. |
| 31 July | My Tasks | Ensure you clear all items in My Tasks in OneUniversity by 5pm. Items not approved by this time will be accounted for in 2023/24. Items should be scrutinised as normal. If you have an item that cannot be approved by this date, eg if the code is incorrect and it should be rejected, please ensure you arrange a manual accrual with your Senior Finance Business Partner. |
| 3 August | Stock | Deadline for receipt of Stock Record Forms. |
| 1 August | Student and External Expense Claims | All student and external expense claims should be submitted to expenses.ap@dundee.ac.uk by this date. Any submitted after this date will be accounted for in 2023/24. |
| 1 August | Invoices for Purchase Order Exceptions | All PO exception invoices, including self-assessed, should be submitted by this date. Any submitted after this date will be accounted for in 2023/24. Please inform your Senior Finance Business Partner if a PO exception invoice for work done in 2022/23 has not been received by this date so an accrual can be made. |
| 2 August | Journal entries and internal recharges | Submit all journal entries relating to financial year 2022/23 by this date. These documents will be posted by Finance by 4 August. |
| 4 August | Review | Review your OneUniversity reports and notify your Senior Finance Business Partner of any adjustments or accruals required. |
| 7 August | Final adjustments | Deadline to notify your Senior Finance Business Partner of any final adjustments or missing income or expenditure accruals. |
| 15 August | Year-end reports | All final adjustments will have been processed and you should review the financial position of your School or Directorate, supported by your Senior Finance Business Partner. Please note that no further adjustments will be processed after this date unless this is agreed with the Head of Financial Accounting and there is a material impact on the University’s accounts. |
Contact us
If you have any further questions about the year-end process, please contact your Senior Finance Business Partner or the central Financial Accounting team by email or Teams.
| School/Directorate | |
|---|---|
| School of Art and Design | Karen Wilson |
| School of Humanities, Social Sciences and Law | Stewart McGill |
| School of Science and Engineering | Louise Burns |
| School of Business | Karen Wilson |
| School of Dentistry | Rayne Eaton |
| School of Medicine | Rayne Eaton |
| School of Health Sciences | Rayne Eaton |
| School of Life Sciences | Charles Pearson |
| Academic and Corporate Governance | Finance Business Partners |
| Estates and Campus Services | Finance Business Partners |
| External Relations | Finance Business Partners |
| Finance and Procurement | Finance Business Partners |
| Director of People | Finance Business Partners |
| Library and Learning Centre and Culture and Information | Finance Business Partners |
| Research and Innovation | Finance Business Partners |
| Strategic Change and Delivery | Finance Business Partners |
| Student Services | Finance Business Partners |
| University Executive Office | Finance Business Partners |
| Digital Technology Services | Finance Business Partners |
| Financial Accounting team | Susan Young or Atif Ashraf |
Downloads
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Susan Young
Head of Financial Accounting
Accountancy & Finance