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SWIFT Update June 27, 2019


How to Process Transactions During the Close Period

The close period is July 1 through August 9, 2019. When entering transactions in the close period, do not let the Accounting Date default to the Current Date. 

A. Transfers 

Transfers made between July 1 and August 9 for Budget Period 2019 must have Journal Date of the current date for the accounting date to reflect the date the cash moved. Agencies should be aware of the dates to ensure the correct date is entered. 

B. Receipts

• Make sure that all miscellaneous cash receipt transactions for BFY 2019 have a matching Accounting Fiscal Year of 2019. Use an Accounting Date of June 30, 2019 or a prior date. 

• For SWIFT receipts, deposit them at the bank and record the receipts received by June 30, 2019 on or before June 30, 2019. In rare exceptions if this is not possible, use an Accounting Date of June 30, 2019 and a Received Date when you deposited the receipt at the bank. 

• Process all regular or correcting direct journal entries for Fiscal Year 2019 by June 30, 2019. Do not process them later than August 9, 2019. See the Annual Budget and Accounting Instructions - Doc 3 for further details and exceptions. 

• For miscellaneous cash receipts that you receive July 1, 2019 or later and relate to Fiscal Year 2019, ensure that the Accounting Date and the Received Date are the date your agency deposited the money in the bank.

C. Payments 

For payments, the Accounting Date is based on the Received Date of the goods and services. This Received Date may cause the Budget Date to be different. The goods or services must be received by June 30 to be in accounting FY 2019.

D. Indirect Cost Payments 

If you make indirect cost payments after June 30 that relate to FY 2019, enter the Accounting Date of June 30, 2019. Change this field manually or SWIFT will default it to the Current Date.

E. Capital Assets 

The SWIFT Asset Management module (AM) will be closed for FY 2019 activity at the hard close this year on August 9. FY 2019 transactions entered between July 1 and August 9 must have an accounting date of June 30 or prior if they are to be recorded as FY 2019 transactions.

The CAFR Asset Certification reports will be run on July 31. Agencies must complete all FY 2019 AM transactions on or before that date so that the activity is captured in the certification report. If there is activity not in the certification and should be reported for FY 2019, agencies must add the activity to the AM module before the hard close date to have the correct accounting date and fiscal year. New OBIEE Asset Management reports are available to review current CAFR capital assets in the SWIFT Asset Management (AM) Module and aid in completing the certifications.


SWIFT System Availability (including Supplier Portal and Mobile Inventory) 

The full nightly batch will run as usual on Friday June 28 and the system will continue to be available for on-line transactions until 6:00 pm on Sunday, June 30. At that time, the system will become unavailable and a limited batch will be run to budget check and post transactions to the general ledger. This batch will exclude all interface and payment processing. Note that even though the system will be available, there will not be SWIFT Help Desk support or Appropriation Maintenance Application loads from the end of the day Friday until the system is back up on July 1. 
It is anticipated that the system will be back on-line at 7:00 am on Monday, July 1. 

Annual Budget and Accounting Instructions - Document 3

The Annual Budget and Accounting Instructions – Document 3 has been posted to the SWIFT Budget and Accounting Instructions web page under the "Establishing Budget Fiscal Year 2020-21 Budgets and Closing Fiscal Year 2019" heading.


Payroll Budget Fiscal Year (BFY) 2019 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 2019 Closing Deadlines

• 07/8/2019 - BFY 2019 Relocation Expense reports must be received by noon 

• 07/11/2019 - BFY 2019 Business Expense, Travel Advance Settlements and Business Expense Transfers 

• 07/12/2019 - BFY 2019 Retroactive Pay Adjustments and Prior Pay Period Adjustments, BFY 2020 Position Funding updates 

• 07/19/2019 - BFY 2019 Mass Expense Transfers

For more information, please refer to the Budget Fiscal Year 2019 Closing Deadlines for Payroll memo dated June 3, 2019.


Purchase Order Close

As part of the year-end cleanup activities, the Purchase Order Reconciliation (PO Recon) job will be run on June 28.

The PO Recon job closes purchase orders that agencies fully matched by setting the Status to “Complete”. See the SWIFT Procurement Year End Processing Tips for additional information. The Procurement Closing Information is at the bottom of the page.

The PO Recon job will run two additional times this year to assist in closing documents: July 26 and the hard close weekend of August 9.

Remember, you can prevent the PO Recon job from closing a purchase order by selecting the “Hold From Further Processing” checkbox on the purchase order header page. You can use this checkbox if you plan on increasing the purchase order at a later date.


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.

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.

Printing the SWIFT Update

  • If you are experiencing issues printing this update, download a PDF version and print that version
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