About Month End Close
- Purchase requisitions from the prior month that are not yet submitted or are awaiting approval when the accounting period closes will remain active and editable by both requesters and approvers in the new accounting period. Transactions that are not approved within 90 days will be purged from the system.
- Purchase orders that have not dispatched within 90 days will also be purged from the system.
- Employee expense reports from the prior month that are not yet submitted or are awaiting approval when the accounting period closes will remain active, however, will require the approver to change the accounting date of the transaction before applying their approval.
- If the expense report has not yet been submitted, the employee or their proxy will need to update the accounting date before submitting for approval.
- Job Aid: Expenses Accounting Date Change .
- Once an expense report has been pending (never submitted or has been sent back) for 30 days it will be deleted.
- Actuals journal entries that are not fully approved prior to closing will be will be deleted by Accounting Services.
- Transaction owners will be notified in advance of the deletion.
- If approvals cannot be made before closing, the owner can copy the journal into the next period before month end closing and request deletion of the original.
- This gives owners additional time for approvals.
- Note: This approach may not be appropriate for across fiscal years.
- A process will be used to 'roll forward' AP vouchers that have yet to match as part of month end close.
- This will not have a visible impact on end users, as AP transactions do not appear on budget statements until they are budget checked. This occurs upon successful matching.
Additional steps will be taken at year end close to ensure a hard close of each fiscal year. These processes will be communicated as fiscal year end nears.
See also: Reporting Tips
For assistance, contact our help desk at 847-491-HELP (1-4357) option 2 or email firstname.lastname@example.org