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Closing of the Books Introduction
2012-2013 Closing of the Books
Thank you for all your assistance in following the year-end closing instructions. The accuracy and timeliness of year-end closing are critical to the preparation and audit of the annual financial statements. The closing instructions are divided into two groups: 1) Banner FIS Year-end Closing Instructions, and 2) Banner Fixed Assets Year-end Closing Instructions.
Institutions are encouraged to submit schedules before their due dates when practicable.
Except where otherwise specified, all schedules and information requested in the Closing Instructions are to be submitted to the OUS Accounting and Reporting SharePoint site. Check with your Business Officer to determine who has access to the site. Submissions that cannot be e-mailed may be faxed to 541-737-0552, or mailed to P.O. Box 488, Corvallis, OR 97339-0488. Mary can be reached via phone at 541-737-9550.
We have divided 'Detailed Instructions and Deadlines' for the Banner FIS Year-end Closing Instructions into the following categories:
| CB | Closing of the Books - Tasks that must be completed to close the books through period 14 |
| FS | Preparation of Disclosures for Financial Statements - Additional information we will need to prepare the financial statements and related notes |
| EA | Preparation of Requests from the External Auditors - Information that external auditors will be reviewing as part of their audit of the financial statements |
| CI | Other Compliance Issues and Requests - Generation of various reconciliations and reports to comply with specific requirements |
There are three different summaries of this information:
- Closing Deadlines in Date Order
- Closing Deadlines in Calendar Format
- Closing Deadlines by Job Function
The Banner Fixed Assets Year-end Closing Instructions are separately presented. These procedures are critical to ensure that:
- All capital assets are recorded in the Banner Fixed Assets module
- Banner Fixed Assets module reconciles to Banner FIS
Keep an eye on the Summary of Revisions and Sections Under Development for changes and updates to these procedures.