SWIFT Update July 3, 2025

    How to Process Transactions During the Close Period   

    The close period is July 1 through August 15, 2025. When entering transactions in the close period, do not let the Accounting Date default to the current date. 

    A. Transfers

    Agency staff should always use the current date in the Journal Date field when entering budget transfers in SWIFT. The current date populates into the Journal Date field by default. BFY 2025 transfers processed after June 30 must reference the current date/date processed in the Journal Date field and should not be backdated.

    B. Receipts

    • For SWIFT receipts that were deposited at the bank by June 30 but the deposit entry in SWIFT was not recorded by June 30, use an Accounting Date of June 30, 2025 and a Received Date of when you deposited the receipt at the bank.
    • For miscellaneous cash receipts (SWIFT directly journaled deposits) that are received July 1, 2025 or later and relate to FY 2025, agencies should use an Accounting Date of June 30, 2025 and a Received Date of the date the receipt was deposited at the bank.
    • Make sure that all miscellaneous cash receipt transactions (SWIFT Directly Journaled deposits) coded to Budget Fiscal Year (BFY) 2025 have a matching accounting Fiscal Year (FY) of 2025. Use an Accounting Date of June 30, 2025 or a prior date.
    • Process correcting direct journal entries for FY 2025 with an Accounting Date of June 30. These must be processed no later than August 15, 2025. 

    C. Payments

    For payments, the Accounting Date is based on the Received Date of the goods or 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 2025.

    D. Indirect Cost Payments

    If you make indirect cost payments after June 30 that relate to FY 2025, enter the Accounting Date of June 30, 2025. Change this field manually; do not let this date default as SWIFT will default it to the current date.

    E. Capital Assets

    The SWIFT Asset Management module (AM) will close for FY 2025 activity at the hard close this year on August 15. Agencies should complete all FY 2025 AM transactions on or before that date. FY 2025 transactions entered between July 1 and August 15 must have an Accounting Date of June 30 or prior if they are to be recorded as FY 2025 transactions.

    ACFR Asset Certification reports will be available in the EPM Data Warehouse to aid in completing the Asset Certifications. The Capital Asset Certification worksheets and instructions will be emailed for agencies to complete on August 1 and due back August 21, 2025. Send capital asset certification questions to Emily.Guest@state.mn.us. 

    Annual System Security Review and Verification

    Minnesota Management and Budget (MMB) requires all state agencies to review the security roles assigned to their employees in statewide systems, including SWIFT, SEMA4, ELM, and the EPM Data Warehouse. An agency’s assigned security administrator coordinates the annual security review process and ensures proper signatures are collected on the verification form. All changes to security roles due to the review process as well as signed verifications are due Friday, September 30, 2025.

    For more information and links to relevant policies, refer to the 2025 Annual Security Review and Verification memo and instructions.pdf. Questions and returned verification forms should be directed to the MMB Statewide Systems Security Team at sema4.security.mmb@state.mn.us. 

    SWIFT Module Support is Hiring

    Minnesota Management and Budget is hiring a Finance Specialist 1 on the SWIFT Module Support team, which supports the accounting modules in the state’s accounting system (SWIFT). This position closes July 11, 2025. 

    This position provides functional support for agencies who perform accounting work outside of SWIFT. It also provides consultation, advice, and functional assistance to state agencies regarding the effective and efficient use of SWIFT. It includes conducting research, design and testing for enhancements and upgrades, and consulting with technical staff in analyzing and resolving system application and operational issues in the accounts payable, accounts receivable, billing, general ledger, and commitment control/budget modules. 

    Working for the State of Minnesota means a great work-life balance, affordable benefits, and many great opportunities for advancement in 100 State agencies. Job ID is 86954. 

    Late Payments on Purchasing Card Statements 

    US Bank charges late fees on past due purchasing card (PCard) accounts. Agencies are invoiced in the amount of up to one percent (1%) per month on the amount overdue, or a minimum of $2. Late fees are included on your monthly statement from US Bank and available to view in SWIFT. However, the Late Payment transaction cannot be reconciled the same way other transactions are reconciled.

    To pay a late fee associated with a PCard statement, agencies must manually add this fee to their monthly PCard voucher by adding a line and entering the information. Make sure to enter Late Payment Charge in the Description field. In the Account field use Expense code 430008 (Interest Pd To Vend Late Pymt). After the line has been added, provide the voucher number to Angie Brandt, and she will remove the transaction from the PCard pages.

    Late payment line for PCard

    As a reminder, pay PCard statements on time to avoid potential late fees, take advantage of available rebates, and avoid potential violations of Minn. Stat. § 16A. Purchasing Policy 1b requires that Purchasing Card Coordinators use Access Online to review statements and monitor account activity.

    • If you have questions regarding processing payments for PCards, please contact Angie Brandt (angie.brandt@state.mn.us).
    • For questions regarding the state contract or Purchasing Card Use Policy 1b, please contact Robbyn Overall (robbyn.overall@state.mn.us). 

    Payroll Budget Fiscal Year (BFY) 2025 Deadlines 

    • Relocation Expense Reports and Expense Transfers must be received at Statewide Payroll Services by noon on July 14.
    • Employee Travel Advances must be settled no later than pay period ending July 15. The deadline for entering these travel advance settlements is the end of the day on July 17.
    • Mass Expense Transfers are due in pay period ending July 15. These transfers can be entered in SEMA4 until noon on July 25.
    • Agency Default Accounts updates are due no later than pay period ending July 15. Transfers can be entered on the Mass Expense Transfer page until noon on July 25.
    • Prior Period Adjustments need to be entered by pay period ending July 15. Adjustments can be entered until noon on July 18.
    • Employee Business Expense Reports and Business Expense Transfers are due end of day July 17.

    SWIFT Module Training and EPM Data Warehouse Training

    The SWIFT Training team offers training through a variety of methods at no cost to the employee. There are SWIFT training guides and training videos, EPM training guides, webinars, labs, eLearning, and individual sessions (by request through the SWIFT Help Desk).

    Find current SWIFT training in Learning Management. Enter "SWIFT" in the Find Learning text entry box.

    MODULE

    WEBINARS/LABS/eLearning
     Sessions run 9 a.m. - 10:30 a.m., unless otherwise noted

    DATES

    INTRO

    Introduction to SWIFT Navigation webinar

    7/8/25, 8/20/25, 9/18/25

    INTRO

    Overview of SWIFT Reporting webinar

    7/17/25, 8/15/25, 9/18/25

    AP

    SWIFT Create Vouchers Overview in Accounts Payable Webinar

    10/16/25

    AR

    SWIFT Create, Correct and Verify Direct Journal Deposits webinar

    7/8/25

    AR

    SWIFT Enter Deposits and Apply Payments for SWIFT Invoices webinar

    7/9/25

    AR

    SWIFT Use Maintenance Worksheets to Manage Customer Accounts webinar

    7/10/25

    BI

    SWIFT Billing Part 1 webinar

    8/27/25

    BI

    SWIFT Billing Part 2 webinar

    8/28/25

    EPM

    Build My Dashboard for SWIFT Reports lab

    9/11/25

    EPM

    Create a SWIFT All Expenditures Report in EPM Lab

    10/1/25

    EPM

    Create a SWIFT All Receipts Report in EPM lab

    9/25/25

    EPM

    Introduction to the EPM Data Warehouse for SWIFT webinar

    8/19/25

    EPM

    SWIFT EPM Create and Save a New Analysis lab

    8/21/25

    EPM

    SWIFT EPM Create and Save the Manager's Financial Report lab

    8/7/25

    EPM

    SWIFT EPM Formatting Your Report lab

    9/24/25

    EPM

    Use SWIFT Standard Reports in EPM lab

    9/10/25

    EPM

    Understand the SWIFT Data in the EPM Data Warehouse webinar

    9/9/25

    EPRO

    SWIFT Create a Catalog Punchout Requisition webinar

    7/17/25

    PO

    SWIFT Create Purchase Orders in SWIFT webinar

    9/25/25

    SC

    SWIFT Create a Supplier Contract Shell webinar
    NOTE: Webinar is from 9 am to 10 am

    9/4/25

    SS

    SWIFT Create, Post, Approve Events webinar (SS1)
    NOTE: Introduction to SWIFT Navigation webinar is required.

    7/10/25

    SS

    SWIFT Analyze and Award Events webinar (SS2)
    NOTE: Introduction to SWIFT Navigation webinar is required.
    NOTE: Webinar is from 1 pm to 2:30 pm

    7/10/25

    SS

    SWIFT Strategic Sourcing eLearning

    Anytime

    SWIFT Help Desk

    Contact the SWIFT Help Desk for any SWIFT-related questions or issues.

    Email: SWIFTHelpDesk.MMB@state.mn.us

    Phone: 651-201-8100, option 2

    Hours: 7:30 a.m. to 4:00 p.m., Monday through Friday (closed holidays)

    When contacting the SWIFT Help Desk, make sure to include details about your question or issue, including:

    • Your Business Unit
    • Description of the issue/question
    • SWIFT 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 Training Guides and Resources page.
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