Cash Deposits at Year-End

If a bank deposit is made before July 1, but the advance deposit (AD) was not completed prior to July 1:

The department should not process an AD for a prior fiscal year if the AD was not processed prior to July 1. Accounting needs to process the entry.

Accounting will (1) contact the department to obtain complete account information (account and object code), and (2) prepare a Year End Distribution of Income and Expense (YEDI) e-doc to record the debit to cash and the credit to your departmental accounts.

If a bank deposit and the AD were not completed by July 1, but the cash and revenue should have been recorded prior to July 1:

1. The department has no option but to process the AD after June 30, which means that the entry will post in period one (P1) of the next fiscal year. 
2. The department then must accrue the revenue in period 13 (P13). Please follow the revenue accrual procedures located on the Revenue and Expense Year-End Accruals page.