Feb 21, 2024  
DMACC Policies and Procedures 
    
DMACC Policies and Procedures
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BS5725 - Monthly Accounting Cut-Offs


Procedure

Section: BUSINESS SERVICES PROCEDURES

SubSection: BUSINESS OFFICE

Master List Section: Business Service

  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 (5th) 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.


Adopted: July 1, 2000



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