SWIFT Update August 1, 2024

Year End Hard Close - FMS Availability

The SWIFT Financial Management System (FMS) will be unavailable on Friday, August 16, 2024, beginning at 6 p.m. for hard close. The system will become available on Monday, August 19, 2024, at 6 a.m.

What happens at hard close?

First, the fiscal year (accounting year) is closed and agencies can no longer enter an accounting date prior to July 1, 2024, meaning nothing further can be processed against that year.

• This facilitates reporting by allowing Minnesota Management and Budget to develop the Annual Comprehensive Financial Report (ACFR) against data that can no longer be changed.
• It also performs the important function of closing income statement activity into fund balance to create an accurate starting point for the new fiscal year.
• Remember, the fiscal year is different from the budget fiscal year (BFY). Budget fiscal year (budget period or budget date) is used to control spending authority as required by law and is not closed as part of this process.

Second, any unencumbered balances in BFY 2024 appropriations, depending on the appropriation type, are either closed or rolled forward. Exceptions include continuing or education aids appropriation types where the closing process does not affect unencumbered balances. After the close, agencies can make payments against encumbrances and can cancel encumbrances if no longer needed. Agencies can still deposit receipts to the prior budget fiscal year.

Reminder to Buyers: Please be aware the system downtime includes the Supplier Portal. Avoid scheduling solicitation events to close early next week as responders may need extra time to submit bid responses.

Purchase Order Close - Friday, August 16, 2024 

As part of the year-end cleanup on SWIFT, the Purchase Order Reconciliation (PO Close) job is scheduled to run Friday, August 16, 2024. The PO Reconciliation job closes purchase orders that have been fully matched by setting the Status to "Complete."

For additional information on this job, see the SWIFT Procurement Year End Processing Tips.

Remember, you can prevent the PO Reconciliation job from closing a purchase order by selecting the "Hold From Further Processing" checkbox on the purchase order header page.

Asset Management Recorded Webinars Now Available

Recently, SWIFT Module Support with support from the SWIFT Training team delivered two wildly popular and much needed webinars on the Asset Management module. Subject Matter Expert, Mike Hoye, shared his vast experience in two recorded webinars. These webinars are now available on our SWIFT Training Videos page.

If you were unable to attend or would like to revisit the content presented in the webinars, please access the recordings using these links:

Asset Management Overview Webinar

Asset Management Advanced Webinar

Updating or Editing a Supplier Contract Shell in SWIFT

If a supplier contract shell must be edited or updated, the Office of State Procurement recommends that in most cases agencies should update the existing record. There are limited circumstances when an agency should create a new version of a contract shell.

Users should create a new version of a contract shell ONLY if one of these reasons apply:

1. To cancel a contract line.
2. To reactivate a canceled contract line.

Refer to the Create a New Version of a Supplier Contract Quick Reference Guide. 

To edit a contract shell, refer to the Edit a Supplier Contract Shell Quick Reference Guide.

Editing a contract shell includes, but is not limited to, adding contract lines, changing contract dollar amounts, changing Administrator/Buyer, extending the contract Expire Date, and amending contract documents.

There are two options to view contract changes.

Option 1: Select the View Changes link in the contract Header section.

Option 2: Select Contract Change History from the left menu on the Contract Entry page.

Voucher Clean-Up Reminder

In preparation for the upcoming hard close, agencies should ensure all transactions are fully processed in SWIFT. To help identify unprocessed transactions in Accounts Payable, agencies can run the queries below:

For Accounts Payable, agencies can run the M_AP_GBL_EXCEPTION query to see a complete list of vouchers with exceptions. Throughout the year, we recommend running this query for the entire current fiscal year and include past fiscal years. For previous fiscal years, it can be harder to clean up these vouchers due to closed accounting periods. If that is the case, please contact the SWIFT Help Desk for assistance.

To assist with voucher maintenance, there are several queries agencies can run:

• M_AP_GBL_DENIED_VOUCHERS: Vouchers that have been denied
• M_AP_UNAPPROVED_VOUCHERS: Vouchers that have been denied or pending approval
• M_AP_GBL_RECYCLED_VCHRS: Vouchers in recycle status
• M_AP_GBL_VOUCHER_BUILD_ERROR: Interface vouchers that failed voucher build
• M_AP_UNPAID_VOUCHERS: Vouchers that are unpaid
• M_AP_GBL_UNPOSTED_JOURNAL_VCHR: Unposted journal vouchers
• M_AP_GBL_BUD_EXCEPTION: Vouchers with budget exceptions
• M_AP_GBL_MATCH_EXCEPTIONS: Vouchers with match exceptions
• M_AP_GBL_NEGATIVE_VOUCHERS: Negative vouchers

Hard close is scheduled for August 16, 2024. This is the deadline for processing most BFY 2024 transactions. Review denied vouchers or unposted journal vouchers which can still have valid budget status. Denied vouchers should be corrected, closed, or deleted. Journal vouchers that have been unposted must be reposted.

Please see the Accounts Payable Quick Reference Guides for helpful information on deleting and closing vouchers in SWIFT.

Respond to Problem Reports

Encumbrance Certification

• Agencies must cancel all encumbrances for the fiscal year unless the agency head certifies that goods were purchased or services were rendered by June 30, 2024 (MS 16A.28).
• Agencies must certify encumbrances by completing and returning the certification report to Minnesota Management and Budget (MMB).

Appropriation Problem Reports

• MMB will continue to send these out every Monday.
• These reports identify appropriations that are over-obligated, over-extended, or have open requisitions (pre-encumbrances) or anticipated transfers.
• Agencies must resolve these conditions by August 9, 2024, in preparation for hard close on August 16, 2024.

Reminder: If payroll costs need to be moved to resolve any of these issues, the deadline for payroll mass expense transfers is noon on July 26, 2024.

How to Process Transactions During the Close Period   

The close period is July 1 through August 16, 2024. When entering transactions in the close period, do not let the Accounting Date default to the current date. Also, see instructions in the Annual Budget and Accounting Instructions - Document 3.

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 2024 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, 2024 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, 2024 or later and relate to FY 2024, agencies should use an Accounting Date of June 30, 2024 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) 2024 have a matching accounting Fiscal Year (FY) of 2024. Use an Accounting Date of June 30, 2024 or a prior date.
• Process correcting direct journal entries for FY 2024 with an Accounting Date of June 30. These must be processed no later than August 16, 2024. See the Annual Budget and Accounting Instructions - Document 3 for further details and exceptions.

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 2024.

D. Indirect Cost Payments

To correctly account for indirect cost payments related to Fiscal Year 2024 that are made after June 30, it's essential to manually set the Accounting Date to June 30, 2024. Doing so prevents SWIFT from defaulting to the current date. Agencies should make all efforts to process these payments as promptly as possible. Review the open receivable activity reports located in the EPM Data Warehouse under the Accounts Receivable Dashboard to identify any outstanding invoices. Please note that these invoices do not include the federal portion as these are paid through a separate process.

E. Capital Assets

The SWIFT Asset Management module (AM) will close for FY 2024 activity at the hard close this year on August 16. Agencies should complete all FY 2024 AM transactions on or before that date. FY 2024 transactions entered between July 1 and August 16 must have an Accounting Date of June 30 or prior if they are to be recorded as FY 2024 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 19, 2024. Send capital asset certification questions to Rachel.Vasend@state.mn.us.

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. Please see Budget and Accounting Instructions Document 2 for details on how to enter Federal Indirect Cost Vouchers. You can find it on the SWIFT Budget and Accounting Instructions page.

The reverse bilateral netting process will run on the following dates:

• August 13, 2024

SWIFT and EPM Data Warehouse Training

The SWIFT Training team offers training through a variety of methods. 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/eLEARNING Sessions run 9 a.m. - 10:30 a.m., unless otherwise noted.	DATES
INTRO	Introduction to SWIFT Navigation webinar	9/4/24
INTRO	Introduction to SWIFT eLearning	Anytime
INTRO	Overview of SWIFT Reporting webinar 9/10/24 session time is 8:30 a.m. - 10:00 a.m.	8/8/24; 9/10; 10/10
AR	SWIFT Accounts Receivable Part A: Direct Journal Deposits webinar	9/17/24
AR	SWIFT Accounts Receivable Part B: Apply Payments to Invoices webinar	9/18/24
AR	SWIFT Accounts Receivable Part C: Maintenance Worksheets	9/19/24
AP	SWIFT Create Vouchers Overview in Accounts Payable webinar	8/20/24
BI	SWIFT Billing Part 1 webinar	8/28/24
BI	SWIFT Billing Part 2 webinar	8/29/24
EPM	Build a My Dashboard for SWIFT Reports in EPM lab 9/10/24 session time is 1:00 p.m. - 2:30 p.m	9/5/24
EPM	Create a SWIFT All Expenditures Report in EPM lab	10/3/24
EPM	Create a SWIFT All Receipts Report in EPM lab	10/16/24
EPM	Introduction to the EPM Data Warehouse for SWIFT webinar	8/22/24
EPM	SWIFT EPM Create and Save a New Analysis lab	8/22/24
EPM	SWIFT EPM Formatting Your Report lab	9/24/24
EPM	SWIFT EPM Manager's Financial Report	10/30/24
EPM	Use SWIFT Standard Reports in EPM lab	9/5/24
EPM	Understand the SWIFT Data in the EPM Data Warehouse webinar	9/12/24
KK	SWIFT Budget Journal Administration webinar Time, 9:00 a.m. - 11:15 a.m.	10/23/24
PO	SWIFT Create Purchase Orders Overview webinar	8/15/24
SC	SWIFT Create a Supplier Contract Shell webinar Time, 9:00 a.m. - 10:00 a.m.	1/7/25
SS	SWIFT Strategic Sourcing Part 1: Create, Post, and Approve Events webinar	11/14/24
SS	SWIFT Strategic Sourcing Part 2: Analyze and Award Events webinar Time, 1:00 p.m. - 2:30 p.m.	11/14/24
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.