FY22 Year-end Guidance and Schedule

Posted: Wednesday, April 13, 2022
Category: Accounts Payable, Travel and Expense, Alert, Featured, Purchasing

Dear Rutgers Colleagues,

Please review the information and deadlines below to navigate the fiscal year 2022 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 3

Purchasing
  • Complete all approvals for requisitions that are greater than $50,000.
Friday, June 10 Travel and Expense
  • Complete Project Approver and Financial Approver review and approval.
  • Expense reports that are submitted and approved by this date, and do not have audit violations, will be processed for fiscal year 2022 close.
Friday, June 10 Accounts Payable
  • ​Submit check request and Non-PO Upload files
  • 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.
Purchasing
  • Submit purchase order Line Close/Cancel request.
  • Complete approvals of purchase order Line Modification request.
Thursday,
June 16		 Purchasing
  • Complete approvals of all requisitions of any dollar amount.
Wednesday, June 22 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 2022.
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 2023. No action is required by schools, departments or units.
  • Check Printing.  Fiscal year 2023 begins on Friday, July 1, 2022. 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. Be sure all purchase orders are adequately funded so invoices can be processed prior to year-end close.
  • Oracle Financial Reporting.  If you have 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-end close.