AP Cut Off Dates

AP Cut Off Dates

AP Cut Off Dates

Department Heads should review their unit's salary and non-salary accounts to ensure that all budgets are not in an actual or projected deficit. This is required for all FOAPALs (operating, carryforward/special programs, grant or capital project FOAPALs).  Actual and/or projected deficits within your unit/org must be covered through budget transfers.  Please cover deficits for all salary accounts (other than full time salary) through a budget transfer form no later than 07/11/23.

All Finance 2023 Closing Dates

Accounts Payable Fiscal Year End Closing Dates

June 30, 2023 Goods to be charged against FY23 budget must be physically and electronically received (in banner) by the close of business day.
July 01, 2023 The Banner Finance System will be available for FY24 processing.
July 07, 2023 Last day to post Non-PO payment request’s with a transaction date of June 30, 2023 for FY23 goods and services received on or before June 30, 2023.
July 07, 2023 Cutoff date for processing Accounts Payable documents to be recorded in fiscal year 2023. Such documents include Non-PO payment request, travel, and invoices against purchase orders.

 

Banner Finance Fiscal Year End Process Update

Beginning at 11:00AM on Friday, July 14th, the Finance Division will be completing year end system process updates in the Banner Finance module in both Self-Service Banner & Administrative Pages.

On July 14th, all Banner Finance users are required to log off of, and remain out of, the Banner Finance module by 11:00AM. 

The Finance module will be unavailable until Saturday, July 15th.

Banner Finance includes, but is not limited to:

-          Requisitions

-          Receiving

-          Non-PO Payment/Direct Pay Processing

-          Approval Queues

-          Journal Entries

-          Accessing Budgets

-          Indexing in Onbase

Please contact AccountingServices@rowan.edu if any questions or concerns.

 

Important Notes

1. Entering a requisition in Banner by the cutoff date (6/22/23) does not guarantee that the expense will be processed and paid within the current fiscal year (FY23). Due to ongoing supply chain disruptions, orders may not be processed and fulfilled during the current fiscal year (FY23).  Continue to anticipate shipping delays, out of stock items and back orders.  Please plan accordingly and do not wait until the cutoff date (6/22/23) to submit a requisition.
2. Cutoff date exceptions for requisitions:

External grants (funds beginning with 5 or 6)
Capital projects (funds beginning with 7)
Internally funded research under select:CHRI grants (funds beginning with 168xx)
Startup funds (11099)
Amazon activity from June 23rd to June 30th may be processed via requisition. All other cutoff dates (DCAs, Office Depot, etc.) apply to the funds noted above.
3. All invoices should be forwarded to the Accounts Payable department or sent to invoices@rowan.edu.
4. FY23 Operational Budget surplus will not carry forward into FY24.
5. FY24 Non-operating funds budgets (special programs, etc.) will not be set up in Banner until Finance completes year end system roll procedures, tentatively set for mid-July 2023.
6.

POs open at the completion of FY23 will carry forward to FY24 and charged to the fiscal FY24 budget. 

  • Finance will begin systematically batch closing POs with remaining balances of $10.00 and under beginning June 23, 2023.  Note: the $10.00 threshold is subject to change based on Finance Management review.
  • Once closed via batch process, POs cannot be re-opened or a change order processed.
  • Ensure adequate balance for any remaining expenses are on the PO prior to this cutoff date.
7. Journal entry feeds include: telephone, stationary, postage, custodial back-charges, labor & material back-charges, duplicating, catering, copier, fuel charges, atrium card and BOA Pcard correction activity.
8. Additional Procurement information can be found here.

If there are any additional questions or concerns regarding the year-end closing process, please contact:

Contact Information:  
Department Contact Email Extension
Accounting Services Kyle Beach beach46@rowan.edu ext. 63714
Accounts Payable Joselyn Peoples peoplesj@rowan.edu ext. 64335
Budget Eric Williams williamsej@rowan.edu ext. 64337
Bursar Adrienne Graber grabera@rowan.edu  ext. 65162
Grants Rita Piccioni piccioni@rowan.edu   ext. 65492
Procurement Chris Haley haley@rowan.edu ext. 64149