Barbara,<br><br>Unfortunately, we are also in the same situation.  We have had to enter the amount of the current FY in Voyager.  Our business manager keeps a spreadsheet that has the remainder amount billed that will be applied to the next fiscal year.  Our fiscal year runs on a Jul-Jun schedule.  Accounts payable did not tell us about the change.  Our business manager discovered it when she could not reconcile.  They tell us that the change was made due to audit findings, but they won&#39;t say more than that.  Communication is excellent here, hah!<br>
<br>We are getting around this by changing our database subscriptions to FY renewals.  The vendors/publishers have been very willing to work with us on this issue.  As for our journal subscriptions, we prepay our vendor a rather large amount.  Since it is a prepayment or a &#39;deposit account&#39; we do not have to prorate for the fiscal year.<br>
<br>I have to agree that it is a very frustrating account practice.<br><br>Tracey<br><br>-- <br>Tracey Thompson<br>Acquisitions Librarian/College Asst. Professor<br>New Mexico State University Library<br>MSC 3475 PO Box 30006 <br>
Las Cruces, NM 88003<br><br>Phone: 575-646-8093<br>Fax: 575-646-7077<br>Skype: Jenymn<br>SL: Jenymn Mersand<br>Email: <a target="_top" href="mailto:thomtd@nmsu.edu">thomtd@nmsu.edu</a><br><br><br><div class="gmail_quote">On Tue, Jun 9, 2009 at 7:21 PM, Barbara Rauch <span dir="ltr">&lt;<a target="_top" href="mailto:barbara.rauch@aut.ac.nz">barbara.rauch@aut.ac.nz</a>&gt;</span> wrote:<br>
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<div>Hi, </div>
<div>I&#39;m hoping that someone can help with a problem that we are having assigning invoices across two fiscal periods. This mainly applies to electronic resources.  Previously we have been assigning the invoice to the year in which the invoice is dated.  We are now being required to split the invoice amount according to the year in which the resource is active/used, which is strictly correct accounting practice but I don&#39;t really know how to represent this on our library Acquisitions module (we are using Voyager).  </div>

<div>So something that is renewed, say, Apr 1st (9 months of 2009) until March 31st (3 months of 2010) is divided 75% &amp; 25 % over these two years.  Of course many are actually Jan - Dec or anytime in between for that matter.  So the problem is that we need to be able to create invoices at any time and yet still produce reports for budget management.</div>

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<div>The library budget is based on a calendar year Jan - Dec. Our system does not seem able to approve invoices if there is more than one fiscal period with the same date coverage, as we have found out particularly when we&#39;ve overlapped by a week when rolling over funds at the end of the calendar year.  What to do ?</div>

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<div>I&#39;d like to know if anyone else has been faced with this situation and how you resolved it.  At the moment we are planning to just enter the 75% as the invoice amount now, and wait until 2010 (creating a dummy invoice) to enter the rest of it.  This seems to me poor accounting practice and I&#39;m not willing to use this method if there is any other way.</div>

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<div>Any advice or guidance would be appreciated.</div>
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<div>Regards</div>
<div>Barbara.</div>
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<div>My opinions are my own.</div>
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<div> </div><b><span style="color: rgb(227, 108, 10);" lang="EN-AU"><font face="Calibri">
<p style="margin: 0cm 0cm 0pt;"><b><span style="color: rgb(227, 108, 10);" lang="EN-AU">Barbara Rauch,<span> A</span>cquisitions Coordinator, Mail No. B-30</span></b></p>
<p style="margin: 0cm 0cm 0pt;"><b><span style="color: rgb(227, 108, 10);" lang="EN-AU"><span>59 Wellesley Street East</span></span></b></p>
<p style="margin: 0cm 0cm 0pt;"><b><span style="color: rgb(227, 108, 10);" lang="EN-AU"><span></span>AUT University Library <br>Private Bag 92006  <span>   </span></span></b></p>
<p style="margin: 0cm 0cm 0pt;"><b><span style="color: rgb(227, 108, 10);" lang="EN-AU">Auckland 1142<br>New Zealand<br><br>ph: +64 (09) 921 9999 ex 8874  fax: + 64 (09) 921 9977</span></b></p>
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