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Synopsis of Accounts Payable, Procurement, and Travel Procurement
Fiscal Year-End Deadlines for 2023

(The current fiscal year ends June 30, 2023)

Deadline 2023 Activity Department
Mon, May 1

The first day to submit BuyUSI transactions is July 1, 2023, the first day of the new fiscal year (FY24).

For all BuyUSI transactions entered and dated in the current fiscal year (FY23), Procurement will analyze and assign the appropriate fiscal year date to allocate the transaction to the appropriate fiscal year.

Procurement
Thu, June 15

The last day for purchasing card and travel card transactions posted by the bank to be charged to the current fiscal year. It depends on when the bank posts the charge, not when the transaction occurs. This would also include travel purchases through Travel Procurement.

Last day to submit a BuyUSI order for FY23.

Accounts Payable, Travel Procurement, and Procurement
Tue, June 20

The last day to submit Chrome River Expense Reports to Accounts Payable for travel dates ending on or before June 15. (This includes travel reimbursements and allocations of travel card transactions.)

The last day to reconcile purchasing card transactions is June 15.

Accounts Payable
Wed, July 5

The last day to submit direct pay forms for goods and services received prior to June 30.

The last day to submit payment notifications for bank withdrawals occurring through June 30.

Accounts Payable

Notes:

  • Accounting principles require the University to record expenses in the fiscal year in which goods are received and/or services are rendered. Therefore, the date an order is placed does not determine if the expense is charged to FY23 or FY24. Orders received by June 30, 2023, must be charged to FY23, and only orders received after June 30, 2023, may be charged to FY24. Factors such as budget availability, invoice receipt, or date of payment do not impact the fiscal year in which an expense is recorded, and external auditors review compliance with these standards annually.
  • Chrome River Expense Reports that require additional documentation, correction, or clarification may result in a payment on or after July 1, 2023.
  • Please share this schedule with those in your department responsible for creating requisitions, preparing travel expense reports, submitting direct pay forms, or allocating purchasing card transactions.
  • Please refer to the emails sent by each department for specific information. If you have additional questions, contact the appropriate department listed below: