Skip to main content

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

Financial year-end 2020 - 2021

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:

  • Monday 8 March 2021 – pool premium claim forms (up to the end of February) to be submitted (relevant Nursery / Primary sector schools)
  • Wednesday 10 March 2021 – this is the last date for schools to raise a negotiated journal to automatically post in 2020 - 2021 (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 25 March 2021.
  • Monday 15 March 2021 - Schools should start to ensure that all outstanding VIM invoices are coded and approved, and goods are receipted (when received) in Orderpoint
  • Friday 19 March 2021 – last date for any transfers or payments to be made to a capital code (cost centres beginning with a ‘CHD’ or ‘CHG’) – ensure any outstanding negotiated journals are authorised and invoice payments are approved
  • Friday 19 March 2021 – last date for all trade union duties, maternity or public duty claim forms to be submitted (secondary schools are not re-pooled for maternity and therefore not applicable)
  • Tuesday 23 March 2021 at 10am – last date for accounts payable to receive invoices for scanning into VIM for the old year
  • Thursday 25 March 2021 at 5pm - final deadline for all workflow to be cleared in old year (VIM invoice coding and authorisation, Orderpoint goods receipted, journal coding and authorisation)
  • Friday 26 March 2021 at 5pm - SAP down for year-end updates
  • Monday 29 March 2021 - SAP unavailable
  • Wednesday 31 March 2021 at midday – last date for raising customer invoices in 2020 - 2021
  • Wednesday 31 March 2021 at 4pm – deadline for completing all banking and cash receipts for 2020 - 2021
  • Wednesday 7 April 2021 – last date to return any income in advance or school creditor requests forms
  • Thursday 8 April 2021 – last date to code and authorise an invoice in VIM in the new-year to allow write back of invoices paid in 2021 - 2022 with a 2020 - 2021 invoice date
  • Wednesday 14 April 2021 at 5pm – deadline for a school to authorise a journal in 2020 - 2021 (for journals raised after deleted workflow on 25 March 2021)
  • Monday 19 April 2021 at midday – 2020 - 2021 school accounts are completed. 

Related Content

Also see