Four steps for payroll funding FY20 close [1]
Ensure that FY20 wraps up smoothly by taking the following steps.
To get started, beginning June 21, review the FY20 monthly payroll registers to confirm that all payroll processed correctly.
- Identify payroll in FY20 that is in suspense.
- To do this, run the Payroll Register with Accounting Detail query (CUES_HCM_PAYROLL_REGISTER_DTL).
- To do this, run the Payroll Register with Accounting Detail query (CUES_HCM_PAYROLL_REGISTER_DTL).
- Identify payroll in FY20 that requires a funding change due to effort changes.
- If changes are required to reflect effort on institutional and grant funds, you’ll need to create a Payroll Expense Transfer (PET) to correctly capture effort.
- If changes are required to reflect effort on institutional and grant funds, you’ll need to create a Payroll Expense Transfer (PET) to correctly capture effort.
- Create a PET to reallocate incorrect FY20 payroll funding. Your timing is important.
- PETs approved by 6 p.m. July 13 will post in FY20.
- PETs created or approved after 6 p.m. July 13 will post to FY21.
- Complete PETs before employees certify in the Personnel Effort Reporting system (ePERs).
- When a PET is created with grant funding for periods already certified by an employee, a new certification by the employee is required.
For PET instructions, review the PET step-by-step guide [3].
Questions or concerns? Reach out to hcm_community@cu.edu [4].