FAS Gargoyle
 
FAS User's Manual
Table of Contents
 

 

Month-end Processing 

Transactions enter FAS either as manually-prepared documents such as Expenditure Transfers and Journal Entries, etc., or as computer-generated data fed from other systems such as Payroll, Accounts Payable, and Telecommunications. The manually-prepared documents and the data from Payroll and Accounts Payable enter FAS once a week; the rest of the data enters FAS at the end of each month. 

On the second working day of the new month, FAS "closes" the old month, and a series of computer programs are run that make month end calculations and produce monthly reports. The two standard monthly reports are the "Account Statement in Whole Dollars," also known as the AM090, and the "Transactions for the Month Ending," known as the AM091. As the titles indicate, the first report summarizes all activity in the account for the month, while the second report provides detailed information about each transaction that was recorded against the specific account. 

Normally, the reports are sent to administrators via Faculty Exchange by the seventh working day of the month. Administrators are strongly urged to review the reports upon receipt and to process any corrections immediately. In this way, corrections can appear on the AM090/91 reports of the following month. Corrections of payroll entries are made on Form UPP103. Corrections of other entries are made on Form 61. 

Corrections affecting grant and contract awards on Ledger 5 and 6 accounts must be processed no later than three months following the end of the month in which the transaction was recorded. (For example, a transaction appearing on the December 31 AM091 should be corrected no later than March 31.) 

Since FAS is updated weekly, administrators should send documents to the Comptrollerís Office for processing as early in the month as possible. Documents processed late in the month may not be reflected on the AM090/91 reports if the documents are subject to certain reviews. 
 


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