Fiscal Year End 2024 Reminders
August 7, 2024
As we approach Fiscal Year End for 2024, visit the Fiscal Year End web page for important information, including key dates, resources, and contacts. The website also includes webinar presentations and corresponding presentation slides, as mentioned below. We highlighted some information related to Procurement and Payment Services:
Corporate Card
It is extremely important that corporate card transactions be reconciled prior to the end of the fiscal year. Pulling transactions from My Wallet and putting them onto an expense report is not enough; all receipts must be attached and the expense report must be submitted and fully approved as soon as possible. Important year-end dates for the corporate card program are:
Before August 26
- Purchases that should be included in FY24 need to be made by 8/26/24 at the latest. Any purchases made after this date might not be posted by the bank by 8/31/24.
September 4
- All corporate card transactions need to be reconciled on an expense report and approved to reach Accounts Payable by 5 p.m. in order to guarantee payment in FY24.
September 6-8
- FY24 expense reports with pending approvals will be sent back for resubmission in FY25.
- FY24 expense reports not yet submitted into workflow will remain in pending status and will not be deleted. They will be assigned an FY25 accounting date.
For information relating to Accounts Payable, Purchasing, and Vendor Management, the following recordings and presentation slides highlight key dates and information to prepare for fiscal year end.
- Accounts Payable presentation
- Accounts Payable slides
- Purchasing and Vendor Management presentation
- Purchasing and Vendor Management slides
Guidance for Transaction Reports
Departments and schools should run their Open Encumbrance Report and Match Exception Report regularly throughout the year to help manage orders submitted through NUFinancials. Users can visit the PO and Invoice Transaction Reports web page for more guidance.