SWIFT Update June 21, 2018
Fiscal Year-End Reminders
Fiscal Year End Reminder Processing FY2018 Activity by June 30
As we approach the end of the fiscal year (FY), it is important to ensure that outstanding 2018 accounting transactions are complete. To the extent possible, these transactions should be fully processed by June 30th.
Agency staff should:
1. Identify and process all known receipt and expenditure corrections related to FY 2018.
2. Deposit at the bank and record in SWIFT all miscellaneous cash receipts received on or before June 30th.
3. Review transactions to make sure they are fully processed in SWIFT.
Here are some resources to help review:
- SWIFT Inquiries for Clean-up and Review quick reference guide
- SWIFT Query - M_AP_GBL_EXCEPTION
(Identifies unpaid vouchers with exceptions for a specified date range.)
- SWIFT Query - M_AP_GBL_UNPOSTED_JOURNAL_VCHR
(Identifies unposted journal vouchers)
- Unpaid Vouchers quick reference guide
4. Review and close negative encumbrances.
These can be identified by running the M_PO_GBL_NEG_ENCUMB_KK query in the Query Viewer.
5. Statewide Indirect Cost invoices are due June 30.
Agencies should make all effort to pay this timely. The invoices do not include the federal portion as this is paid separately.
6. Federal Indirect Cost Payments.
Agencies need to process their federal receipt vouchers for the indirect costs timely as well to be included in the reverse bilateral netting process.
The reverse bilateral netting process will be run on the following dates:
- June 26, 2018
- July 6, 2018
- July 20, 2018
- August 7, 2018
7. 2018 Transfers.
Agencies are to complete any known FY 2018 transfers by June 30, so that the fiscal year and the budget year are the same. This helps to minimize manual adjustments in the CAFR reporting.
8. BFY 2018 Year-End Spending.
All goods and services must be encumbered according to MMB Statewide Operating Policy 0901-02, Fiscal Year-End Closing Transactions – Pre-Encumbrances/Requisitions, Encumbrances/Purchase Orders, Expenditures/Payment Vouchers. Payments for services rendered or goods ordered after June 30 must be made from BFY 2019.
For questions about processing these transactions, contact the SWIFT Help Desk.
SWIFT Classroom Training
The SWIFT training team does not offer classroom training in the summer. Please refer to the SWIFT Reference Guides page or contact the SWIFT Help Desk for questions.
SWIFT Help Desk
Contact the SWIFT Help Desk for any questions, concerns or issues you have with SWIFT:
651-201-8100, option 2 or by email SWIFTHelpDesk.MMB@state.mn.us
Hours: 7:30 a.m. to 4:00 p.m., Monday through Friday; closed holidays.
When emailing the SWIFT Help Desk, be sure to include all details regarding the issue. Information to include with your message:
- Issue Description
- Business Unit
- Module (Accounts Payable, Purchase Orders, etc.)
- Transaction ID (Voucher ID, PO ID, etc.)
- Error Message Print Screen
Additional assistance can be found on the SWIFT Reference Guide page.
To find SWIFT training, open Employee Self-Service and select the Learning folder. Then, search the Catalog using the keyword “SWIFT” to find and enroll in classes currently scheduled. Classes are free of charge and open to everyone.
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