Fiscal Officer Information

It is time again to start planning for the fiscal year-end closing.

UM FY25 Closing Schedule

FY2025 items of interest include:

Requisitions-Last Day to Enter and Approve

  • Non-Catalog requisitions requiring a bid - Friday, 5/9
  • Non-Catalog requisitions not requiring a bid - Friday, 6/13
  • Show-Me-Shop requisitions - Monday, 6/30

Vouchers/Payment Requests - Last Day to Enter - Monday, 6/30

  June Web Journal Entry Cutoff for Departments – Monday, 7/14

  • For FY2025 entries, between 7/1 and 7/14, remember to change the Journal Date to 06/30/2025.
  • Please refrain from creating FY2026 entries until after 7/14.

  Automated AP Accrual Scheduled – Thursday, 7/10

  • Vouchers approved and posted between 7/1 and 7/9 with an invoice date before 7/1.
    • PO vouchers must also have a PO date before 7/1.
  • Expense report lines approved and posted between 7/1 and 7/9 with an expense date before 7/1.

  Automated ARR/CRR Accrual Scheduled – Thursday, 7/10

  • All approved and posted ARRs and CRRs meeting the following criteria will be included in an automated accrual:
    • ARR/CRR (Cashiers and Direct Deposit) date before 7/1 and associated journal date between 7/1 and 7/9  or 
    • ARR/CRR (Cashiers and Direct Deposit) date between 7/1 and 7/9  and reference date (Date of Check field) before 7/1 or
    • ARR/CRR (ACH/Wire) bank date before 7/1 and associated journal date between 7/1 and 7/9

  Automated AR/BI Accrual Scheduled - Thursday, 7/10 

  • Between 7/1 and 7/9 users may update/override the accounting date on invoices to "06/30/2025" if the revenue should be reflected in FY2025.  Otherwise, during this timeframe, invoices will default to FY2026. 

UM Daily Processing – The journal entry module will have a nightly run each Sunday evening in July, beginning on July 6, to account for activity processed after 6 PM on Fridays.

Please distribute this closing information to the appropriate staff in your units.

I will review the additional AP accrual procedures that occur in July and August with you at a later date.

If you have any questions about closing, please contact me or Rochelle.

UM-System Integrity and Accountability Hotline