SWIFT Update June 22, 2017
Fiscal Year End Reminder
As we approach the end of the fiscal year (FY), it is important to ensure that outstanding 2017 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 2017.
2. All miscellaneous cash receipts received on or before June 30th must be deposited at the bank and recorded in SWIFT.
3. Review transactions to make sure they are fully processed in SWIFT. Here are some resources to help review:
• SWIFT Inquiries QRG - Inquiries for Clean-up and Review
• 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 QRG
4. Review and close negative encumbrances. These can be identified by running the M_PO_GBL_NEG_ENCUMB_KK query in Query Viewer
For questions about processing these transactions, contact the SWIFT help desk.
Payroll Budget Fiscal Year (BFY) 2017 Closing Deadlines
Please complete all mass expense transfers, prior period adjustments, business expense reimbursements and expense transfers, and any other adjustments as soon as possible to avoid having insufficient time to correct unexpected errors.
BFY 2017 Closing Deadlines
- 07/10/2017 - BFY 2017 Relocation Expense reports must be received by noon
- 07/13/2017 - BFY 2017 Business Expense, Travel Advance Settlements and Business Expense Transfers
- 07/14/2017 - BFY 2017 Retroactive Pay Adjustments and Prior Pay Period Adjustments, BFY 2018 Position Funding updates
- 07/21/2017 - BFY 2017 Mass Expense Transfers
For more information, please refer to the Budget Fiscal Year 2017 Closing Deadlines for Payroll memo dated June 1, 2017.
Notice on Local Tax Increase
The Minnesota Department of Revenue will be administering the following change to sales and use taxes effective July 1, 2017:
Olmsted County increase to 0.5% Sales and Use Tax
The sales and use tax rate changes apply to sales made on or after July 1, 2017, and will be in addition to all other taxes in effect. Local sales tax applies to retail sales made and taxable services provided within the local taxing area (county/city limits). The tax applies to the same items that are taxable under the Minnesota sales and use tax law.
Purchase orders entered in SWIFT on or after July 1, 2017 or having a PO Date of 7/1/2017 or after, will calculate the new tax rates for each county/city. Existing orders and/or their vouchers will need to be adjusted to pay the correct tax if delivery occurs after various dates. Please note that the dates will be different based on whether goods or construction materials are being delivered. Check the tax notice for the affected city for the correct dates. For assistance in changing the sales tax on a PO, please consult the Sales Tax Settings on Purchase Orders Reference Guide.
Impact of Local Tax Increases on Accounts Payable
Vouchers entered in SWIFT on or after the tax effective date will calculate the new tax rates for each county/city if the Invoice Date is on or after the tax effective date. If the Invoice Date is before the tax effective date, SWIFT will exclude the new tax rates. Please review the tax calculation carefully prior to payment on all vouchers with Ship To locations within these jurisdictions.
Please see the Minnesota Department of Revenue tax notice for the appropriate city for guidance in handling orders and payments during the transition period.
Olmsted County Transit Rate Increase
SWIFT will be updated with the new tax codes for all existing Ship To addresses located in the affected cities. New orders, created on or after July 1, 2017, will calculate the new rate of tax for the ship to addresses within those counties/cities. Existing orders may or may not need to have the tax code updated on the PO if payment can be processed during any allowed grace period(s), again, see the general notice for each county/city.
Previously any ship to addresses in affected cities may have used the tax code of 0000, State Tax only. To calculate the new combined rate, state and local tax rate, the tax code(s) on the PO must be updated to the new tax code(s) from the 0000 tax code. Because of the various transition rules these codes will not be updated by SWIFT and must be updated by the PO buyer.
SWIFT System Availability (including Supplier Portal and Mobile Inventory)
SWIFT will be unavailable on Friday, June 30, 2017, beginning at 6 p.m. for soft close. The system will become available on Saturday, July 1, 2017, once soft close is complete. A system notification email will be sent to users when the system becomes available.
Reminder to Buyers: Please be aware of the system downtime. This includes the Supplier Portal. Avoid scheduling events to close on July 1st. Depending on when the system comes up, vendors may or may not have time to enter bid responses if an event is scheduled to close on July 1, 2017.
Update on SWIFT Classroom Training
The SWIFT training team does not offer classroom training in the summer. We rebuild our training databases each summer to mirror the most current fiscal year's financial accounting fields. Please look for SWIFT classroom training in early September.
There are some limited SWIFT training options offered online only. All SWIFT classes are free of charge and open to everyone. Find and enroll in online training options by opening Employee Self-Service and selecting the Enterprise Learning Management (ELM) folder. On the Search for Learning section, enter the keyword “SWIFT” and click Search.
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.
SWIFT Update Mailing List
The SWIFT Update is sent to the SWIFT Newsletter subscription list. Use the links at the bottom of the page to subscribe or unsubscribe to the SWIFT Newsletter subscription list.