Does your LMS allow prepayments and accruals? Your accountants should advise you as which month ranges belong to accruals, payments and prepayments - you receive the benefit ahead of payment, prepayment you pay before receiving the benefit.
Very large companies have different financial years so accountants should be used to having to make these adjustments. Also, come year end, you will find them making all sorts of last minute adjustments. If your LMS has an accountancy module I cannot believe it will not have functions that allow you to make accruals and prepayments.
LindaM-M
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-----Original Message-----
From: An informal open list set up by UKSG - Connecting the Information Community [mailto:[log in to unmask]] On Behalf Of Sandy Forster
Sent: 26 November 2015 15:56
To: [log in to unmask]
Subject: Re: [lis-e-resources] Subscription dates: financial year versus academic year
Hello all,
I'd also be interested in any answers to this, as our accountants are now assisting that we divide all of our subscription payments by twelfths and charge the correct proportion to the correct financial year - currently 666 individual titles/collections.
When a large number of publishers insist on calendar-year subscriptions and we are signed up to various deals through JISC and Eduserv with start dates throughout the year, this is promising to be a challenging task. As far as I know, I cannot operate two financial years in tandem within our Library Management System and am therefore at a loss as to how I reconcile what is on our system against what will eventually be on the University's.
I would be interested to hear if any other institution is doing this, and how it works in practice.
Many thanks,
Sandy
Mrs. S. Forster
Information Resource Manager
Coventry University
Lanchester Library
Gosford Street
Coventry
CV1 5DD
Tel: 024 7765 7529
Fax: 024 7765 7525
-----Original Message-----
From: An informal open list set up by UKSG - Connecting the Information Community [mailto:[log in to unmask]] On Behalf Of Taylor, Sarah
Sent: 26 November 2015 15:46
To: [log in to unmask]
Subject: [lis-e-resources] Subscription dates: financial year versus academic year
Hi all,
I'm sure this has probably been done to death (although currently my information retrieval skills appear to be failing me and I can't see anything much in the archives of this list) but I'm in the process of preparing a paper to explain issues/processes of procuring electronic resources for our accountant, and he has asked for specific information about dates. I know his next question will be why are the start of most of our subscription dates are what they are, i.e. not aligned with the academic year.
We did draft a letter to some of our suppliers a while back asking them to consider aligning subscriptions, but I can't recall what happened beyond that!
Has anyone managed to align their subscription dates to their financial year, and if so, has it had any sort of impact on management of resources and/or relationships with finance departments?
Any insights would be very much appreciated!
Many thanks.
Best wishes,
Sarah
Sarah Taylor
Electronic Resources Librarian
The Peter Marsh Library
University of Bolton
Deane Road
Bolton
BL3 5AB
01204 903099
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