FY19 Year-end Guidance and Schedule

Posted: Wednesday, May 15, 2019
Category: Accounts Payable, Travel and Expense, Purchasing

May 2019

Dear Rutgers Colleagues,

Please carefully review the information and deadlines in this memo to navigate the Fiscal Year 2019 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 7

Purchasing
  • Complete all approvals for requisitions that are greater than $50,000.
Friday, June 14 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 2019 close.
Friday, June 14 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.
Purchasing
  • Submit purchase order line close/cancel requests.
  • Complete approvals of purchase order modifications.
Friday, June 21 Purchasing
  • Complete approvals of all requisitions of any dollar amount.
Wednesday, June 26 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 2019.
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 2020. No action is required by schools, departments or units.
  • Check Printing.  Fiscal year 2020 begins on Monday, July 1, 2019. We do not anticipate any disruption to the check printing and distribution process. We plan to print checks from Monday, June 24 through Friday, June 28, and to resume printing on Monday, July 1.
  • Invoice Processing.  If you need additional information or supporting documentation related to supplier payments, please contact the Procurement Help Desk at procure@finance.rutgers.edu.
  • Oracle Financial Reporting.  If you have questions related to Oracle financial reporting and budgeting, please contact the Financial Management Help Desk atfinance_helpcenter@finance.rutgers.edu"> finance_helpcenter@finance.rutgers.edu.

 

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

Regards,

Nimish Patel
Associate Vice President – Procurement, and Chief Procurement Officer
University Procurement Services