BS5725 - Monthly Accounting Cut-Offs

1. Institutional Regulation
   
   To help assure accurate and comparative monthly financial reports, it is necessary to establish deadlines for month-end closing activities.
    
2. Procedure
   1. Cash Disbursements
      1. Requests for payment received by noon on Friday will be entered so that a check will be computer generated the following week.
      2. Manual checks will be written only for extenuating circumstances and will not be written after noon on the last working day of the month.
   2. Journal entries, budget revisions and budget transfers received after 4:00 p.m. the fifth (5^th) working day prior to the end of each month shall be processed in the following month.
   3. Cash received after 12:00 noon the last working day prior to the end of each month shall be processed in the following month.