FISCAL YEAR 2008 YEAR END MEMORANDUM To: WVFIMS Purchase Card Software (STARS) Users From: P-Card Year End Processing Team Subject: Year End Purchase Card Software Processing Date: April 2, 2008 The State=s fiscal year ends on June 30, 2008. As a result of your Purchasing Card statement not arriving prior to fiscal year end, you will need to pay particular attention to the type of financial code combinations you reference when you perform your purchase card transaction reconciliations for the June billing period. Do not reconcile and reference any purchase card transaction for this billing cycle using a process fiscal year 2008 non-appropriated special revenue or any fiscal year non-expiring reappropriated financial code combination. If you reference these types of financial code combinations and post the transaction to accounts payable, at June 30, 2008, these transactions will be unposted by the year end process. You will then have to access each Shell Record and modify the fiscal year on the split screen from 2008 to 2009 for non-appropriated special revenue accounts and repost the reappropriated account transactions. The following narrative will provide some useful tips on which financial code combinations, you should consider using when reconciling your purchase card transactions for this specific billing period. You do have the option of mixing non-appropriated, reappropriated, and expiring appropriated revenue accounts on the accounting split screen, as you would with any other WVFIMS transaction. If you do combine different budgetary financial code combinations, please be sure that all accounts referenced will pass the liquidity check when processed for payment by the State Auditor=s Office. Page 2 WVFIMS Purchase Card Software Users Non-Expiring Accounts Non-Appropriated Special Revenue Re-Appropriated Accounts The State Auditor=s Office has granted approval for you to reference process fiscal year 2009 non- appropriated special revenue financial code combinations on the accounting split screen when you reconcile your purchase card transactions. You will NOT be able to electronically post these transactions to accounts payable until the process fiscal year 2009 ledgers have been activated after June 30, 2008. You can enter this information prior to the fiscal year end close out; however, remember you can not approve/post the transaction. Expiring Accounts (Appropriated General/Special/Federal) Since Expiring Accounts are permitted during the month of July for reference for expenditure transaction processing, you can continue to reference these financial code combinations on the accounting split screen. Please note that you can only reference an expiring account if the goods you acquired with the purchasing card were procured prior to June 30, 2008. Federal Accounts If you treat your federal accounts as non-expiring, then you can reference the process fiscal year 2009 financial code combination on the accounting split screen. You will not be able to electronically approve/post these transactions to accounts payable until the process fiscal year 2009 ledgers have been activated after June 30, 2008. If you treat your federal accounts as expiring accounts, then you can reference the process fiscal 2008 financial code combinations on the accounting split screen. You will process these the same as under the Expiring account narrative above. If you have any STARS reconciliation questions, please contact Shawn Carper with the Department of Administration, Finance Division at 558-4083 (x301), Email: firstname.lastname@example.org for assistance.
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