Year end 2022 - key information

The Monash University’s financial year end is approaching; please make yourself aware of the key deadlines and processes relating to Year End 2022 available on the staff intranet.

Changes to year end 2022

Please note that there have been changes to the timing of some year end deadlines. They key changes are summarised as follows:

• Some deadlines that were previously first week of January are now late December
• Some deadlines that were previously second week of January are now first week of January
• Uplift in Financial Accounting review threshold of accruals, pre-payment and income in advance from $50,000 to $500,000.

Please take note of the deadlines relevant to you. Reminders will not be sent for deadlines.

The key close off dates are:

• Accounts Receivable (AR) ledger will close 5:00pm Tuesday 3 January 2023
• Accounts Payable (AP) ledger l close 5:00pm on Thursday 5 January 2023
• Access to all other Finance systems will close at 5pm, Tuesday 10 January 2023 for all Finance staff except Financial Accounting.
• Access to all Finance staff including Financial Accounting will close at COB Thursday 12 January 2023

All deadlines and processes are available on the Finance staff intranet. Please carefully review the deadlines to ensure the appropriate steps are taken to meet all required deadlines.

• Finance operations staff
• R&R staff
• Planning & Budgeting staff

Communicating with Monash staff (customers/clients)

Deadlines applicable to Monash staff are available on the Finance intranet and (as Pdf here) these will be communicated to via Workplace and Monash Insider. If you feel it's necessary for your client or customer group to receive specific communication please contact Finance Communications who will be happy to assist.

If you have any questions regarding the year end processes please contact Tina Pham on tina.pham@monash.edu