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 07/12/24.
Accounts Payable Fiscal Year End Closing Dates
| June 30, 2024 | Goods to be charged against FY24 budget must be physically and electronically received (in banner) by the close of business day. |
| July 01, 2024 | The Banner Finance System will be available for FY25 processing. |
| July 05, 2024 | Last day to post Non-PO payment request’s with a transaction date of June 30, 2024 for FY24 goods and services received on or before June 30, 2024. |
| July 05, 2024 | Cutoff date for processing Accounts Payable documents to be recorded in FY24. Such documents include Non-PO payment request, travel, and invoices against purchase orders. |
Banner Finance Fiscal Year End Process Update
Beginning on Friday, July 26th, the Finance Division will be completing year end system process updates in the Banner Finance Module in both Self-Service Banner & Administrative Pages.
The Finance module will be unavailable until Monday, July 29th.
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 (6/20/24) does not guarantee that the expense will be processed and paid within the current fiscal year (FY24). Due to ongoing supply chain disruptions, orders may not be processed and fulfilled during the current fiscal year (FY24). Continue to anticipate shipping delays, out of stock items and back orders. Please plan accordingly and do not wait until the cutoff date (6/20/24) 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 21 to June 30 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. | FY24 Operational Budget surplus will not carry forward into FY25. |
| 5. | FY25 Non-operating funds budgets (external grants, capital, etc.) will not be set up in Banner until Finance completes year end system roll procedures, scheduled for July 26, 2024. |
| 6. |
POs open at the completion of FY24 will carry forward to FY25 and charged to the fiscal FY25 budget.
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| 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: |
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| Department | Contact | Extension | |
| Accounting Services | Kyle Beach | beach46@rowan.edu | ext. 63714 |
| Accounts Payable | Stacey Bucci | buccis@rowan.edu | ext. 64117 |
| Budget | Eric Williams | williamsej@rowan.edu | ext. 64337 |
| Bursar | Adrienne Graber | grabera@rowan.edu | ext. 65162 |
| Grants | Lisa Ciliberto | ciliberto@rowan.edu | ext. 65534 |
| Procurement | Chris Haley | haley@rowan.edu | ext. 64149 |