Year End Processing Deadlines

Listed below are the deadlines for year-end processes and transactions that must be met in order for these transactions to be recorded in the appropriate fiscal year.  Please contact the appropriate office at the number listed below with any questions.  It is important that everyone make every effort to meet these deadlines and process all outstanding documents within the established timeframe in order to have a successful year-end close. 

As a general reminder, departments have 90 days from the date of the expense to submit requests for corrections or reclassification between accounts. This includes corrections and reclassification requests in the form of journal entries, interdepartmental uploads, and labor redistributions.  Transactions with an original date prior to April should have already been submitted prior to June.  Please note that General Accounting will deny requests that are beyond the 90 days. Exceptions may be made only if there is a valid reason, such as an expense charged to a fund that is not permitted. An example of this would be alcohol charged to an operating/E&G fund.

Request for Purchase Order Requisitions and Purchase Order Closure

Contact: Strategic Procurement 9-0983

Fiscal encumbrances for FY23 cannot be made until after 07/01/22. No transactions for FY23 that require a requisition/PO may be submitted through Buyway before 07/01/22. If a department has a critical workflow that needs to be reviewed, such as an agreement, they are encouraged to submit those documents as soon as possible via Contract Routing, or no later than 04/29/22. When submitting a request for a contract where services will be rendered in FY23, please be sure to include a Buyway comment on your PO that indicates this is a FY23 transaction. Please note that no PO will be sent for a FY23 transaction, and departments will be required to submit those requisitions starting on 07/01/22.

Additionally, Strategic Procurement will also be closing ALL open purchase orders from FY22 starting on 07/01/22. Blanket purchase orders or purchase orders for agreements that cross fiscal years will need to be refreshed via a new Buyway requisition in the new fiscal year. Should a department believe that their PO(s) should carry forward into FY23, departments are asked to submit their PO numbers and justification to purchasing@miamioh.edu for review. Any carry-over requests will need to have a legitimate justification, and Procurement will review these requests on a case-by-case basis.

For any questions, please email purchasing@miamioh.edu.

Direct Pays/Travel Expense Reports

Contact: Accounts Payable 9-9200

All direct pays and travel expense reports with expense(s) occurring on June 30 or prior will be charged to the current fiscal year. Any direct pays and travel expense reports for the current fiscal year received between July 10 and July 19 with a total greater than $2,500 will be charged to the current fiscal year; any with a total of $2,500 or lower will be charged to the following fiscal year. If travel overlaps the fiscal year, the reimbursement must be expensed to the fiscal year in which the greatest number of "travel days" occurred.

Budget Transfers 

Contact: Budget 9-4227

Permanent budget transfer for the current fiscal year must be received in the Budget Office by March 31. One-time budget transfers for the current fiscal year must be received in the Budget Office by June 24, of the current fiscal year.

Banner Interdepartmental Upload

Contact: General Accounting 9-6118

All interdepartmental charges, in the form of an upload, which are to be included in the current fiscal year must be sent to generalAccounting@MiamiOH.edu by July 5. Any uploads received after that date will be charged to the following fiscal year.

Labor Redistributions

Contact: Tax Compliance 9-2694

Labor Redistributions for April, May and June expenses ONLY must be sent to generalaccounting@MiamiOH.edu by July 5. Any April, May, and June redistributions received after the deadline will be processed in the following fiscal year within 90 days of the original expense transaction date.

Journal Vouchers

Contact: General Accounting 9-6118

In accordance with our policies all transfers for expenses prior to April should have already been completed. Journal Entries for April, May and June of the current fiscal year’s expenses ONLY must be sent to generalAccounting@MiamiOH.edu by July 5.  Please note these dates replace any previously published dates on the Journal Entry Form.

The Controller’s Office staff appreciates your efforts to submit these items as early as possible throughout the fiscal year as well as during the last month of processing.

Unclassified Staff - June 2022 Leave Reports

Contact: Human Resources 9-3131

As we approach the end of the 2022 fiscal year, please plan accordingly to set reminders to submit and approve June leave reports no later than July 5, 2022.  This early submission and approval is our standard practice to ensure a timely close for the 2022 fiscal year.

Invoices and Travel/PCard Expenses

Contact: Accounts Payable 9-9200

INVOICES - FY22 ends on June 30th.  In order to close out FY22 in a timely manner, we ask that you please have all invoices entered into Buyway and approved for processing no later than 5 p.m. on June 24.   If items are received in the department after this date, please process invoices as soon as possible and maybe posted to FY23.

TRAVEL AND P-CARDS EXPENSES-Once the purchasing with your P-Card for the month of June is complete, please complete your expense report in Chrome River as soon as possible before the month of June ends.  Even if unexpected additional transactions must be made for June, you can reconcile those separately with no penalty for creating multiple expense reports.   If you have multiple expenses which will take place throughout the month of June, consider reconciling the first half of the month on one report in mid-June and the remainder at the end of the month.

All travel and P-Card expense reports for the month of June of 2022 must be prepared and submitted for approval in Chrome River by Tuesday, July 5th.

All reports must be approved by approvers by Friday, July 8th.

 

All of the offices above appreciate your efforts to submit these items as early as possible throughout the fiscal year as well as during the last month of processing.