Fiscal Year End

Open encumbrance

• All FY 2023-2024 Purchase Orders with an open encumbrance on July 1, 2024 will be rolled over into the new fiscal year and expensed to the fiscal year that matches the date a goods confirmation is entered.  Users should review all open Purchase Orders against their accounts no later than May 31, 2024 to determine if any action is required.  

Goods Confirmations

• Goods Confirmations should be completed accurately (i.e., if the goods were received centrally or by shoppers prior to fiscal year-end, the goods receipt/goods confirmation should be on that date).  If the goods receipt was not entered in the appropriate fiscal year, the shopper or central office should be completing the goods receipt and notifying the user’s finance office that an accrual should be made for the expense. Users should review “Blocked Invoice No GR Report” SIMBA Tile to determine outstanding goods confirmations.

Please note: PO related postings, including goods confirmations, invoice receipts, and supplier payments, require the relevant cost objects to be open and valid in the current posting period. Purchase Order edits require all cost objects associated with the entire PO to be open for postings. This includes cost objects on the PO’s completed line items.

Grant and budget closings

• Please be aware of grant and budget closings. You will need to contact Research Accounting to either extend the dates or add a different account assignment to the purchase order before the grant/budget closes and/or before fiscal year-end to ensure that goods confirmations, invoice receipts, or any PO edits/changes can be performed successfully in the following year.

Sponsored award

• All FY 2023-2024 Purchase Orders funded through a sponsored award by an external agency shall have completed goods confirmations and invoices paid in advance of the sponsored award closing date. Departments are encouraged to follow research administration policy outlined in RA90 Finalization and Closure to determine necessary actions required for timely and compliant sponsored award closure.

Purchase Order Option lines

• When exercising Purchase Order Option lines on existing Purchase Orders that must start in the new fiscal year, please utilize the Purchase Order Option Line Guidance Form to notify Procurement Services when exercising Purchase Order Option Lines on existing purchase orders. This form should be submitted to Central Procurement no later than May 31, 2024.  This form is available within the Forms Section of GURU.  
• The Purchase Order Option Line Guidance Form cannot be used to change the funding allocations as originally designated on the purchase order. A Purchase Order Change Form would be used to make funding allocation changes.  
• If a prepayment is required on a renewal option prior to July 1, 2024, the renewal PO and goods confirmation must be completed in the current fiscal year for payment to release in the current fiscal year.  
• When exercising the option line on current purchase orders for future fiscal year, FY25 will be included in the purchase order line-item description field, that corresponds with the option line item, for ease in identifying these orders. These purchase orders will be reported in Funds Management as a Fiscal Year 2024 commitments.  
• To adjust these commitments to reflect the commitment in the correct fiscal year, Financial Officers will need to enter a manual negative commitment in FY2024.  These negative commitments will rollover to FY2025.  When they do, Financial Officers will need to mark them as complete.  The total of your commitments will then be accurate in both fiscal years. Follow the steps for entering a negative commitment. 
• For specific questions regarding options on your Purchase Orders, contact your assigned buyer in Central Procurement.  

Period 12, June month-end

• Period 12, June month end close will be 5 business days after the month end.  
• Through period 12 JE, Journal Voucher, GR, invoices etc. can be processed.
• Departments should delete all parked documents that are not processed.  
• Activities against SC’s and POs are completed when period 12 is closed.  
• No more GR, IR, etc. All Shopping Carts/Purchase Order activity must be completed and put in order status by June 28.

Periods 13 -16

• Period 13 -16 are for year-end Financial Journal Entry postings only (invoices should only be posted through period 12).  
• Financial Officers will be able to post journal entries through period 13.  
• Periods 14-16 are for Central Office journal entries only.  

2024–2025 Fiscal Year Free text shopping carts

• At this time, you may begin submitting free text shopping carts for new requirements to be charged by the 2024–2025 Fiscal Year.  
• If you are submitting free text shopping carts for these new year requirements, it is imperative that you insert “FY 25 Requirement” within the internal notes section of the shopping cart for all carts submitted in advance of July 1, 2024.     This designator will indicate to buyers the proper posting date to assign to the subsequent Purchase Order. You will not have to insert this note on July 1, 2024, or after.
• Shopping carts submitted prior to Jul 1, 2024 for catalog orders through the Lion Marketplace or against a current PSU Contract cannot be posted to FY25.  Purchase order requests for catalog and PSU contract goods and services that need to be posted in FY25 should be submitted after Jul 1, 2024. 

Reports

A few reports are listed below that will assist you in identifying purchase orders that have issues that should be evaluated and cleaned-up for Fiscal Year End:

• GL Line Item Display GL View Tile (GL Display and Reporting Tile Group)  “GRIR_OPEN” Variant: GRIR GL Line Item Report Guide
• Blocked Invoice No GR Report Tile (AP Reporting Tile Group)- This report only shows POs that have invoices posted that are blocked from paying due to missing or incorrect goods confirmations or pricing discrepancies. Blocked Invoice No GR Report Guide
• Vendor Line-Item Report (AP Reporting Tile Group) – This report pulls in everything that is open for the Vendor. Enter Document Status as “= Open.” You can filter by Grant, Business Area, or Fund. Vendor Line-Item Report Guide.
• Business Objects – Purchase Order by Business Area – Look for Purchase Orders where remaining PO value is a negative (displayed in red with parentheses). It indicates that the invoice amount is greater than the Purchase Order value. Contact Central Procurement Accounts Payable at [email protected] to determine the resolution.