FY20 Year-end Guidance and Schedule

Posted: Thursday, April 30, 2020
Category: Accounts Payable, For Suppliers, Travel and Expense, Alert, Featured, Purchasing

Dear Rutgers Colleagues,

Please review the information and deadlines below to navigate the fiscal year 2020 year-end process, and to ensure your financial transactions are processed in a timely manner.

Processing and Submission Deadlines

Please adhere to the following timelines to ensure we have adequate time to process your transactions prior to year-end close. All transactions must be completed by 4:30 PM on the date specified.

Date Area School/Unit Action
Friday, June 5


  • Complete all approvals for requisitions that are greater than $50,000.
Friday, June 12 Travel and Expense
  • Complete Project Approver and Financial Approver review and approval.
  • Reports that are submitted and approved by this date, and do not have audit violations, will be processed for fiscal year 2020 close.
Friday, June 12 Accounts Payable
  • ​Have suppliers submit all invoices directly to accountspayable@finance.rutgers.edu.
  • Invoices submitted after this date will be processed, but Accounts Payable cannot guarantee the processing will be completed before fiscal year-end close.
  • Submit purchase order line close/cancel requests.
  • Complete approvals of purchase order modifications.
Friday, June 19 Purchasing
  • Complete approvals of all requisitions of any dollar amount.
Wednesday, June 24 Interdepartmental Purchasing
  • Complete approvals of requisitions for Internal Purchase Orders (IPOs).
  • IPOs approved in RU Marketplace by this date will be  processed for fiscal year 2020.
Accounts Payables
  • Complete processing and approvals of IPO-related invoices.


Additional Information:

  • Open Purchase Orders.  Encumbrances that were initiated through a purchase order in RU Marketplace will automatically carry over to fiscal year 2021. No action is required by schools, departments or units.
  • Check Printing.  Fiscal year 2021 begins on Wednesday, July 1, 2020. We do not anticipate any disruption to the check printing and distribution process. Accounts Payable may add additional payment runs if necessary.
  • Invoice Processing.  If you need additional information or supporting documentation related to supplier payments, please contact the Procurement Help Desk.
  • Oracle Financial Reporting.  If you have questions related to Oracle financial reporting and budgeting, please contact the Financial Management Help Desk.
  • Purchase Order Changes and Cancellations: ALL requests for closing or canceling a PO in Marketplace must be submitted on a PO Line Close/Cancel form in order for the request to be processed.
    • Department Responsibilities for PO Close/Cancel:
      • Prior to submitting a  Close/Cancel PO request, confirm that there are no Invoices or Credits that are “In Process”
      • Check PO’s Invoice Status using the "Is this INVOICE Paid" Job Aid
      • Requests with “In Process” invoices will be rejected and will need to be resubmitted
      • Questions regarding POs with Invoices/Credits “In Process”, reach out to the Procurement Help Desk
    • Submit a PO Line Close/Cancel Request, using an Active/Valid Accounting String, in RU Marketplace
    • Advise Supplier of the PO that is being Closed/Canceled; Closing/Canceling a PO in Marketplace DOES NOT notify the Supplier of this change
    • If canceling, also advise supplier that products/services are no longer needed
    • If the PO status in Marketplace is “Closed”, but it is still showing a balance on Oracle’s Commitment Report, send an email to the Procurement Help Desk to assist with removing the opened encumbrance.


Thank you for your partnership as we prepare for a successful fiscal year-end close.