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The timetable for preparing the year-end accounts is now available.

Financial year-end 2017-2018

Members of staff dealing with finances should be aware of the timetable and familiarise themselves with the key dates.

Schools are able to request manual adjustments to be made to their accounts for significant items where income is received in advance of the new financial year or payments have yet to be made. Further guidance is available in the 'accounting for goods and services letter' attached to this page.

Schools should also undertake a reconciliation of their Lloyds Imprest Account by completing 'form A - expenditure from school allowance imprest' which is attached to this page (to be retained at the school for audit inspection).

Schools operating a local bank account will be issued with separate guidance on required timescales for year-end returns.

Key dates

The key dates for schools include:

  • Friday 9 March 2018 – this is the last date for schools to raise a negotiated journal without the risk of the journal being posted in the new financial year (because of the 21 day automatic posting rule). Schools can still raise a negotiated journal after this date but it will need to be approved/rejected by the receiving school before 1 April 2018 to avoid being posted in 2018/2019.
  • Friday 9 March 2018 – pool premium claim forms (up to end of February) to be submitted (relevant Nursery/Primary Sector Schools).
  • Monday 19 March 2018 - Schools should start to ensure that all outstanding VIM invoices are coded and approved and goods are receipted (when received) in orderpoint.
  • 10am Tuesday 20 March 2018 – last date for accounts payable to receive invoices for scanning into VIM for the old year.
  • Tuesday 20 March 2018 – last date for any transfers/payments to be made to a capital code (cost centres beginning with a ‘CHD’ or ‘CHG’).
  • Friday 23 March 2018 – all trade union duties/maternity/public duty claim forms to be submitted (secondary schools are not re-pooled for maternity and therefore not applicable).
  • Midday Thursday 29 March 2018 – last date for raising invoices to appear in 2017-2018.
  • Midday Thursday 29 March 2018 - final deadline for all workflow to be cleared in old year (VIM invoice coding and authorisation, Orderpoint goods receipted, journal coding and authorisation).
  • Midday Thursday 29 March 2018 –  deadline for completing all banking and cash receipts for 2017-2018
  • 5pm Thursday 29 March 2018 – SAP will close down and won’t re-open until 7am on Tuesday 3 April 2018.
  • Friday 6 April 2018 – last date to return any income in advance/school creditor requests forms.
  • Friday 9 April 2018 – last date to code and authorise an invoice in VIM in the new year to allow write back of invoices paid in 2018-19 with a 2017-2018 invoice date.
  • 5pm Thursday 12 April 2018 – deadline for a school to authorise a journal in 2017-2018.
  • Monday 16 April 2018 – 2017-18 school accounts are completed.  

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