DFA will be processing a biweekly payroll accrual for six days, June 23, 24, 27, 28, 29 & 30, so that the accrual appears as a FY 2016 expense. This is an accrual 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.
Reminder: Units should not process any payroll accruals unless preapproved by DFA. If you believe an accrual is necessary, please direct requests to firstname.lastname@example.org.
The accrual entry will:
FY 2016 will reflect the reversal of the FY 2015 four-day accrual, plus the FY 2016 six-day accrual, for a net of two accrued days for the fiscal year.
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 accruals.
DFA will reverse FY 2016 biweekly payroll accrual, and the entry will:
Note: There is no need for a semimonthly payroll accrual, because the pay period ends on June 30.