Key Dates for Fiscal Year End Cutoff
As our fiscal year end is approaching, please see the key dates below that are necessary for us to properly finalize activity for fiscal year 2023.
All purchase requisitions for capital equipment & general goods and services to be charged against 2023 budgets must be initiated and approved by managers by Friday June 16, 2023.
Only purchases for goods and services physically received prior to the close of business on June 30, 2023 can be charged to the current fiscal year. Items received on or after July 1, 2023 will be charged to next year’s budget.
Purchasing Card Transactions:
All P-Card charges must be verified and fully approved by close of business Friday, June 23rd in order to be charged to the current fiscal year. Any charges relating to FY23 not verified and approved will be accrued to the P-Card users home org in fiscal year 2023.
Expense Reports & Supplier Invoice Requests:
All Supplier Invoice Requests and Expense Reports to be charged to the current fiscal year must be submitted in Workday by Wednesday, June 21, 2023 and approved by Friday, June 30, 2023. Please note that employees should not be paying out of pocket for the purchase of any non-travel goods and submitting for reimbursement on expense reports.
Bank Deposits and Customer Invoices:
Customer Invoices can be entered in Workday up through the close of business on Wednesday, June 28th provided the deposits are brought to the Bursar’s Office no later than 10am on Thursday, June 29th.
After June 28th, we kindly ask that you to wait to enter any new Customer Invoices until Monday, July 3rd.
Deposits will be sent to the bank for the last time this fiscal year on Friday, June 30th.
If you need to securely store your Cash/Checks during this time, please bring them to the Bursar’s office where they will safely store them until July 3rd.
Banner Student Accounts Receivable System:
Due to fiscal year end processing, the Banner Student Accounts Receivable system will shut down all Cashier sessions from 5:00pm through 11:59pm on Friday, June 30th. It is very important that you do not enter any transactions into Banner during this timeframe. You will be able to begin processing transactions in Cashier sessions again on Monday, July 3rd.
Student Online Billing & Payment Site:
From 5:00pm on Friday, June 30th through 1:00am Saturday, July 1st, students and Authorized Users will not be able to access the Online Billing & Payment portal.
Beginning June 23rd, a notice will be posted on the Billing & Payment site regarding the upcoming shutdown. In addition, a notification will be displayed to all users attempting to login during the shutdown period regarding the duration of the shutdown.
Please note that the Office of the Bursar will make appropriate accommodations for all student payment due dates and issues which may arise during this time. Please direct all student account inquiries to the Office of the Bursar @ 203-254-4095.
Year End Accrual:
Items received against purchase orders by the end of June, will be accrued to expense in your “Org” for 2023 even if the invoice is received in July. Only receipts for items greater than $500.00 in value will be accrued.
Receipts for items received or services provided prior to or on June 30, 2023, must be completed in Workday by end of business Friday June 30, 2023. This will insure that any un-invoiced expenses are accrued to FY23.
If there are other items that need to be accrued for fiscal year 2023 that have not been entered as a receipt against a purchase order, please notify Kristine Warhola or Ray Ledan by Thursday, July 13th so they can be accrued manually.
If there are any questions regarding the above, please contact the following individuals:
Purchase Requisitions & P-Card Transactions – Peter Perez, Director of Purchasing, Ext 2205
Expense Reports & Supplier Invoices – Bob Messert, Accounts Payable Manager, Ext 2161
Bank Deposits, Customer Invoices, Banner Student Accounts Receivable, Student Online Billings & Payments – Laura Guzman, Director of Student Accounts, Ext 4191
Accounting or other year end questions, Ray Ledan, Ext 2618 or Kristine Warhola, Ext 2408
For more information, contact Ray Ledan / 203-254-4000 Ext 2618 / RLedan@fairfield.edu