All transactions for the billing cycle must be signed off by both the Cardholder and Approver by the relevant deadlines below. If you have any questions or issues during your billing cycle, contact your SPCC Program Administrator.
|Month||Cycle Start Date||Cycle End Date||Works Statement Available*||Sign Off Deadline**|
|January 2021||December 16||January 15||January 17||January 22|
|February 2021||January 16||February 15||February 17||February 22|
|March 2021||February 16||March 15||March 17||March 22|
|April 2021||March 16||April 15||April 17||April 22|
|May 2021***||April 16||May 14||May 16||May 24|
|June 2021 (FY22)||May 15||June 15||June 17||June 22|
|July 2021||June 16||July 15||July 17||July 22|
|August 2021||July 16||August 13||August 15||August 23|
|September 2021||August 14||September 15||September 17||September 22|
|October 2021||September 16||October 15||October 17||October 22|
|November 2021||October 16||November 15||November 17||November 22|
|December 2021||November 16||December 15||December 17||December 17****|
* Charges may be posted up to 48 hours past the date of the billing cycle close. Works statements should be set to run 2 days past each billing cycle close to ensure accuracy. You can pull your billing statement at any time before or after the scheduled report run.
** Subject to change; Transactions are swept by the Accountant the morning following the Sign Off Deadline.
*** Last Billing Cycle for FY21. Any charges posted after May 14th will hit FY22 budgets.
**** UMW Winter Break 2021 starts December 20 so the Accountant must perform the sweep December 17 to ensure timely payment to BOA.
Beat the Sweep!
What is the “Sweep”?
In accounting, a sweep is where the accountant prepares all transactions posted during a certain time frame to be cleared from the system. In order for the University Accountant to sweep the transactions at the end of each billing cycle, those transactions must be allocated fully and properly (at a minimum GL01-04, GL09, and GL10), and must be signed off by both the Cardholder and Approver. If sign off on a transaction is held up for one reason or another, the transaction must at least be allocated prior to Sign Off deadline. Otherwise, the University Accountant will have to allocate to a general FOAP, which will not hit budgets properly. The Accountant performs the sweep the morning after the Sign Off Deadline, referenced in the chart above.
Why should I care?
Cardholders who do not complete allocation and sign off prior to the sweep are subject to non-compliance consequences which may result in written notices, required refresher trainings, or possible suspension of the card. Cardholders are issued consequences for getting swept because their actions have now created a lot of manual work to be done by the UMW Accountant, including personal outreach to the Cardholders for FOAP information to ensure proper expenditures from budgets, prior to being able to perform the required sweep.
What can I do to prevent being swept?
Some tips to avoid getting swept:
- Set a day each week on your calendar to perform Works reconciliation (allocation & sign off).
- DO NOT WAIT for Works to send you an email alerting you that transactions are awaiting sign off as the email from the system is most often delayed. Instead, regularly check your Works account for posted transaction that require allocation and sign off.
- Notify the Program Admin of:
- Upcoming leave/absences due to vacations, sabbaticals, extended or temporary leave, changes in chair appointments, etc. that may coincide with sign off deadlines.
- Problems with FOAP allocation or GL segment validation
- Don’t wait until the last minute to allocate/sign off since your approvers need to review your transactions and sign off too
- Communicate with your Approver if there may be an issue with signing off prior to the deadline, or if you have any last minute pending transactions.
- Develop a process of communication for yourself and your cardholder(s) to ensure that transactions are reviewed and signed off in a timely manner
- Before COB on the sign off deadline date, double check Works one more time for any transactions in your queue awaiting final sign off. Make sure your filters show the correct billing cycle dates and show all groups you are approver for.
- Check with your Program Administrator to make sure you don’t have any outstanding transactions prior to the sign off deadline.
The Program Administrator will send at least 2 email communications notifying you of the sign off deadline and any outstanding items needing to be addressed prior to the sweep. Use these reminders to your advantage.