Simple steps to prepare for the end of the fiscal year

Use this calendar to better understand how payroll expenses will be charged as the fiscal year ends.

Fiscal-year-end deadlines

  • Monthly pay cycle: June 1-30, 2014 (Pay ID 06/30/14)
     
  • Biweekly pay cycle: June 8-21, 2014 (Pay ID 06/21/14)

All expenses paid during this time period are charged 100 percent to fiscal year 2013-14.

Sunday Monday Tuesday Wednesday Thursday Friday Saturday
JUNE 1 2 3 4 5 6 7
8 9 10 11

5 p.m. – Original W-4 direct deposit forms due
12 13 14
15 16 17 18

5 p.m. – Time collection closes
19 20 21
22 23

Run payroll register report.

5 p.m. – Original W-4 direct deposit forms due
24

Noon – Hand-drawn check request deadline for fiscal year 2013-14

Hand-drawn requests received after this cannot be guaranteed to be included in fiscal year 2013-14, except for termination for cause requests that meet the June 25 deadline.
25

Noon - Termination for cause hand-drawn check deadline
26

10 a.m. – Check stops and advice pulls due

5 p.m. – Time collection closes
27 28
29 30 JULY 1

Pay date for June
2

Run payroll register report.
3

Pay date for pay period ending on 6/21/2014
4

Employee Services closed for Independence Day
5

Biweekly pay period ends (6/22/14 – 07/05/14) To be charged to fiscal year 2013-14

Suggestions for a seamless year-end payroll

  1. Time collection
    Process time collection batches early to avoid last-minute problems.
    Confirm your backup person is trained and available to assist
    Be accurate and timely to help ensure correct fiscal year charges.
     
  2. Overpayments
    Departments receive full credit for overpayments fully recovered by June 30, and prorated credit for overpayments partially recovered by June 30.
    Remaining amounts will be credited when repaid.
     
  3. Hand-drawn warrant requests
    Submit requests early to avoid last-minute problems.
    Requests received with complete information by noon Tuesday, June 24, will be included in the fiscal year 2013-2014 payroll.
     
  4. Payroll expense transfers (PET)
    PET for charges incurred on or before Monday, June 30, may be processed through Monday, July 14.
    The journal date must be June 30.
    Transactions approved by 5 p.m. July 14, will be included in the fiscal year 2013-14 payroll.
    For processing questions, contact your campus accounting office.
    If you have technical difficulties when creating a PET, contact Shelley Brown at shelley.brown@cu.edu.
     
  5. Reports to ensure pay accuracy
    Use your payroll reports to confirm the accuracy of employee pay.
    Salary charges need to be as correct as possible for the fiscal year close.

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