Interim Closing

This page highlights important information about the Interim closing process.

An abbreviated version of the information found on this page was sent via newsletter to all IU Fiscal Officers on November 23, 2021.

Year-End Resources

Additional resources for the year-end closing process are listed below:

Documentation

  • Note that several entries are due by a specific date. If you use Financial Processing (FP) e-docs in KFS, these documents must be in the system and fully approved by 10:00 p.m. for the entries to be processed by the accounting cycle and reflected in the closing reports. Because some KFS e-docs require additional administrative approvals, on the day of each closing, entries should be completed by noon to allow for all necessary routing and approvals. Visit the section below on KFS Financial Processing Documents for more information.
  • If you require access to KFS, please contact your RC Fiscal Officer.
  • Please contact uars@iu.edu if you need to have a document super-approved.

Transaction Processing Deadlines

Information regarding all pertinent interim closing dates can be found on the UCO Financial Closing Calendar. Below are the operational closing dates for interim closing.

Please note that your department or campus may have earlier deadlines. Check with your fiscal officer.

Important Dates
Thursday, December 16 Depreciation Run
Friday, December 31 Last day for billing and encumbrance transactions
Friday, January 14 All auxiliary vouchers must be entered and approved

Interim closing checklists for pilot groups due to the Office of the University Controller
TBD Substantiation for material transactions over $5M for all groups due to the Office of the University Controller