SWIFT Update July 5, 2018
How to Process Transactions During the Close Period
The close period is July 1 through August 10, 2018. When entering transactions in the close period, do not let the Accounting Date default to the Current Date.
Transfers made between July 1 and August 10 for Budget Period 2018 must have Journal Date of June 30 or earlier to be reflected in fiscal year 2018. The Budget Fiscal Year (BFY) must match the Accounting Fiscal Year in the close period. Continuing appropriations are exempt from these date requirements.
- Make sure that all miscellaneous cash receipt transactions for BFY 2018 have a matching Accounting Fiscal Year of 2018. Use an Accounting Date of June 30, 2018 or a prior date.
- For SWIFT receipts, deposit them at the bank and record the receipts received by June 30, 2018 on or before June 30, 2018. In rare exceptions if this is not possible, use an Accounting Date of June 30, 2018 and a Received Date when you deposited the receipt at the bank.
- Process all regular or correcting direct journal entries for Fiscal Year 2018 by June 30, 2018. Do not process them later than August 10, 2018. See the Annual Budget and Accounting Instructions - Doc 3 for further details and exceptions.
- For miscellaneous cash receipts that you receive July 1, 2018 or later and relate to Fiscal Year 2018, ensure that the Accounting Date and the Received Date are the date your agency deposited the money in the bank.
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 30th to be in accounting FY 2018.
D. Indirect Cost Payments
If you make indirect cost payments after June 30 that relate to FY 2018, enter the Accounting Date of June 30, 2018. Change this field manually or SWIFT will default it to the Current Date.
E. Capital Assets
Asset Management will be closing FY 2018 transactions on July 20. Agencies need to complete all FY 2018 SWIFT Asset Management transactions on or before July 20, 2018. This is the last date you can enter asset activity to 2018.
If you enter FY 2018 transactions between July 1 and July 20, make sure that the Accounting Date is June 30, 2018 or prior date. Otherwise, SWIFT will not record them as FY 2018 transactions.
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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