***Important Year End Procurement Card and Invoice Information***

Controller's Office Year End Guide

Fiscal 19 Invoices

Fiscal year-end closing is quickly approaching – it is important for all invoices to be processed in the correct fiscal year.  Please make sure that all invoices for Fiscal 19 are submitted and approved daily.  The last day to submit invoices for Fiscal Year 19 is June 3rd  and these invoices must be fully approved by June 6th.  Any invoice that has not been fully approved by June 6th will be charged to the new fiscal year and journal entries to accrue back to FY19 will NOT be done.

Fiscal 20 Invoices

Invoices for Fiscal Year 20 can be submitted starting May 20th.  In order for invoices to be charged to Fiscal Year 20, the “New FY Invoice” box under the Invoice Details section in Concur MUST be selected.  Please note these invoices will not be processed until June 10th and payment will be processed on or after June 12th.

Please contact Wendy Grayauskie with any questions.

Procurement Cardholders

With the end of the fiscal year approaching on May 31st, please be informed of the following guidelines for Procurement Card charges:

  1. To be sure that your purchases are included in Fiscal Year 2019’s budget, all purchases for Fiscal Year 2019 should be processed on your Procurement Card by May 20th. It typically takes between 2-5 business days for charges to post to Bank of America’s system, but it can take longer; it all depends on the vendor. So even if you make a purchase in late May, there is no guarantee that it will post to Bank of America’s system in May. So to be sure a charge posts in May 2019, please have all purchases completed by May 22nd. Any purchases that post to Bank of America’s system on June 1st or later will be included in Fiscal Year 2019’s budget.
  2. Cardholders MUST submit all charges with posting dates through May 31st in Concur by June 3rd.  If charges are not in by June 1st, the cardholder will be assessed 30 points.
  3. Approvers MUST approve all charges with posting dates through May 31st in Concur by June 7th. If the approver does not approve all reports in their queue by June 6th they will be assessed 20 points.
  4. When submitting your May report at the beginning of June, your reports MUST only contain charges with posting dates through May 31st. Do not include charges with posting dates of June 1st or later. Charges with June 1st or later posting dates can be submitted at the beginning of July.
    • **VERY IMPORTANT**: The date that appears next to a charge in Concur is the transaction date, not the posting date. The posting date appears in the transaction details within the blue credit card icon. Scroll your mouse over the blue credit card icon to show the posting date.
  5. Please be aware that if your charges are NOT submitted and approved by these deadlines, we will push your charges through the system and post them to your budget. Accounting will not do journal entries to move the charges to a different budget.
Thank you very much for your attention to these guidelines!
If you have any questions, please contact Jennifer Yeats at x97445

 

Financial Affairs