FY 2025 Year-End Guidance & Schedule

Posted: Thursday, April 24, 2025
Category: Accounts Payable, Travel and Expense, Alert, Featured, Purchasing

Dear Rutgers Colleagues,

Please review the information and deadlines below to navigate the fiscal year 2025 year-end process and ensure your financial transactions are processed in a timely manner.

Processing and Submission Deadlines
Please adhere to the following timelines to ensure we can process your transactions before the year-end close. All transactions must be completed by the School/Unit by 4:30 PM on the respective date specified.

Date Area School/Unit Action
Thursday
May 1, 2025		 Purchasing
  • Submit requisitions requesting a document (quote, agreement, or contract) to be signed requiring review, negotiation, and a purchase order to be issued by year-end.
    **Approval date of the requisition will depend on supplier's responsiveness. 

Monday
June 2, 2025

 Travel and Expense
  • All employees must review their Concur accounts and ensure the following:
    • Submit any available expenses (Air Card, University Card, etc.) on an expense report
    • If you booked travel for guests or students, reconcile those transactions in Concur under a separate report.
    • Submit all pending expense reports containing Air Card or University Card charges.

Friday
June 6, 2025

 Purchasing

  • Complete approvals for requisitions greater than $50,000.

  • Complete approvals of purchase order PO line modification requests.

  • Submit PO Line Close/Cancel requests.
Accounts Payable
  • Submit check requests and Non-PO Upload files.
  • Suppliers submit all invoices directly to accountspayable@finance.rutgers.edu
  • Note: Invoices submitted after this date will not be completed before the fiscal year-end close.
Wednesday
June 11, 2025

Purchasing
  • Complete approvals for requisitions of any dollar amount.
Friday
June 13, 2025		 Travel and Expense
  • Expense reports must be submitted AND approved by Project Approver and/or Finance Approver. Reports without audit violations will be processed by year-end.
Wednesday
June 18, 2025		 Purchasing (IPOs)

  • Complete approvals for requisitions for Internal Purchase Orders (IPOs).

  • Note: IPOs approved in RU Marketplace by this date will be processed for fiscal year 2025.
Friday
July 18, 2025		 Accounts Payable
  • Accounts Payable application closing for FY25.


Important Information:

  • Open Purchase Orders: Encumbrances that were initiated through a purchase order in RU Marketplace will automatically carry over to fiscal year 2026. No action is required by end users.
  • Payment Processing: Fiscal year 2026 begins on Tuesday, July 1, 2025. We do not anticipate any disruption to the payment and distribution process. Accounts Payable may add additional payment runs if necessary.
  • Invoice Processing: If additional information or supporting documentation related to vendor payments is needed, please contact the Procurement Help Desk.  Be sure all purchase orders are adequately funded so invoices can be processed prior to year-end close.
  • Oracle Financial Reporting: For questions related to Oracle financial reporting and budgeting, please contact the Financial Management Help Desk.

Thank you for your partnership as we prepare for a successful fiscal year 2025 year-end close.