Ledger close dates for accounting transactions in Aggie Enterprise.
Aggie Enterprise (Oracle) is organized into a general ledger (GL) and several subledgers for different functions like cash management, payables, procurement, projects (PPM) and accounts receivable (AR). Data is summarized as it flows from the subledgers to the general ledger, and each subledger must close in a sequential order each month. To maintain accuracy in financial records, we conduct month-end close processes. Teams review subledger balances, validate transactions, fix discrepancies, and make necessary adjustments. This monthly closing ensures precise financial reporting and compliance.
To ensure transactions and online journal entries post to the appropriate accounting period, the document, with final approval, needs to occur prior to the end of business (5:00 p.m. PST) on the cut-off date.
2024 Ledger Cut-off and Close Dates
Accounting Period | Boundary System Cut-Off Date (excluding UCPath) | Accounts Payable (AP) Cut-Off Date | General Ledger (GL) Cut-Off Date | Period Close Date |
|---|---|---|---|---|
| Deadline for Boundary Systems feeds to post transactions. 3rd business day | Deadline for departments to approve invoices. 3rd business day | Deadline to ensure all GL journals are in Posted status. 4th business day | Final close date for Month End 6th business day | |
| 2024 - Jan | 02/05/2024 | 02/05/2024 | 02/06/2024 | 02/08/2024 |
| 2024 - Feb | 03/05/2024 | 03/05/2024 | 03/06/2024 | 03/08/2024 |
| 2024 - Mar | 04/03/2024 | 04/03/2024 | 04/04/2024 | 04/08/2024 |
| 2024 - Apr | 05/03/2024 | 05/03/2024 | 05/06/2024 | 05/08/2024 |
| 2024 - May | 06/05/2024 | 06/05/2024 | 06/06/2024 | 06/10/2024 |
| 2024 - June* | *June close does not follow month-end close. See year-end calendar. | |||
Month-End Close Guidance
Activities must be completed before the end of business (5:00 p.m. PST) on dates identified above.
If you initiate Journals:
- The General Ledger cannot be closed at month-end until all entries have successfully posted or have been deleted. Unposted journal statuses: in progress, routing for approval, withdrawn and rejected must be cleared.
- Review your journal entries and ensure successful posting. If necessary, delete any unposted or incorrect entries.
- Utilize the Review and Edit Manual Unposted Journals and follow the steps to Copy, Withdraw or Resubmit a Posted Journal.
If you initiate or provide departmental approval for Accounts Receivable invoices:
- Complete Accounts Receivable invoices, as well as any invoice adjustments that are pending in Aggie Enterprise. Run the Departmental Incomplete Billing Report to review pending items.
- To locate your incomplete (saved) invoices, follow the steps to Complete an AR Invoice.
- To locate adjustments pending approval, follow the steps in the Approve Invoice Adjustment guide.
- Invoices or adjustments created after the 1st of each month will default the Transaction Date and Accounting Date to the current month. You can change the Transaction Date to a prior date if appropriate.
If you approve Accounts Payable invoices:
- If a department wants an invoice processed in the prior month to also post to the ledgers in that prior month, the invoice must be fully approved by Day 3. Follow the Requisition and Invoice Routing Log and Approving Requisitions and Invoices guides for details to find and approve invoices.