Financial Year-End – Key Dates

The University's current financial year ends on 31st July 2018. These key dates are provided as a quick reference point to help departmental colleagues to ensure that their income and expenditure are posted in the correct financial year, and performance against annual budgets is recorded accurately.

You can find out more detail about what you need to do for the financial year-end process in the 'financial year end – information for close-down' letter to Heads of Departments.

Before 5.00pm – Tuesday 10th July 2018

Before 5.00pm - Thursday 12th July 2018

Before 3.00pm – Monday 30th July 2018

Before 2.00pm – Tuesday 31st July 2018

  • Purchasing card transactions dated up to the end of 30th July 2018 and coded by 2.00pm on 31st July 2018 will be input to the 2017/18 financial year

Before 5.00pm – Tuesday 31st July 2018

  • Goods receipt all purchases where the goods or services were actually received up to the 31st July 2018, for purchase orders, framework orders and internal trade orders. If you have not received the item then you must not goods receipt it, but leave the Purchase Order open to be used in 2018/19 and receipt it when the item arrives.
  • Internal Trade - selling department – coding of income and removal of billing block for all internal sales that took place up to 31 July 2018.
  • Sales invoicing – a sales invoice should be raised in uBASE for all goods or services supplied before 31st July. If it has not been possible to raise a sales invoice dated 31st July or earlier then a debtor accrual can be input to the accounts – see further details in the 'financial year end – information for close-down' letter.

Before 5.00pm – Monday 6th August 2018

  • Petty Cash - the Cash Team will issue instructions for confirming the balance of petty cash receipts and cash held at financial year end by Monday 23 July 2018. If you have not received instructions for completing this task by this date please contact the Cash Team on 24474 or email cashoffice@sheffield.ac.uk. Completed documentation should be returned by 6th August 2018 to the Income Office or by e-mail to cashoffice@sheffield.ac.uk

Before 5.00pm – Tuesday 7th August 2018

  • Request any manual accruals for purchases or sales up to 31st July, where it has not been possible to process the Purchase Order or Sales Order in uBASE before the 31st July deadline. Your accrual request, should be sent to your Faculty Finance Manager or your Professional Services Finance Manager. Accruals should not normally be requested for sums less than £3,000 excluding VAT.
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Need help or more information?

Who to contact
If you have any queries about the financial year-end contact the Finance Manager for your Academic Department or Professional Services Department.