DFA will be processing a biweekly payroll accrual for seven days, June 21, 22, 25, 26, 27, 28, and 29, that must be accrued as a FY18 expenses. This accrual is for financial statement purposes only, there will be no labor ledger entries, nor will it affect effort certification reports. DFA will post the biweekly payroll accrual to period 12 (P12) no later than July 6.
e-doc Number: FY18YEPRACCR
The entry will be posted as a collector file in P12.
Fund group CG-Contracts & Grants accounts will be posted to central college accounts instead of posting to the individual accounts. This change was implemented to streamline the efficiency of the contract and grant billings, which cannot include any accruals.
FY18 will include the reversal of the FY17 seven-day accrual, plus the FY18 seven-day accrual.
Note: There is no need for a semimonthly payroll accrual, because the pay period ends on June 30.
Units should not process any payroll accruals unless preapproved by DFA. If you believe an accrual is necessary, please direct requests to Accounting.