Year End Information

Regular Requisitions/POs - Must be submitted and received/approved by Procurement by June 15, 2024 to be encumbered for FY24.

Sole Source Requisitions/ POs - Must be submitted and received/approved by Procurement by June 15, 2024 to be encumbered for FY24.

Trade-In Requisitions/POs - Must be submitted and received/approved by Procurement by June 15, 2024 to be encumbered for FY24.

New Contracts/SPCs - Must be submitted and received/approved by Procurement by June 15, 2024 to be encumbered for FY24.

Formal Bids - No new IFB or RFP events processed during the period of May 24 - July 15, 2024.

Blanket POs - Ensure all invoices are paid for your open FY24 Blanket Orders.

Receiving & Supplier Invoices:

• If you have received merchandise but have not received an invoice, contact the vendor to make sure the invoice is received and paid in the correct fiscal year.
• Make sure you have completed all receiving entries for FY 2024 merchandise physically received by June 30th.

Any FY24 Requisition still in "Draft" or “In Progress” status by end of business will be cancelled.

Any FY24 Receipt still in "Draft" status by end of business will be cancelled.

Personal Reimbursements - Expense Reports for personal reimbursements must be submitted and received/approved by Procurement on or before July 11, 2024 for FY24 expenses.

PO Change Orders - Must be submitted and received/approved by Procurement by July 11, 2024 for FY24 expenses.

Contract Amendments (SPC Amendments) - Must be submitted and received/approved by Procurement by July 11, 2024 for FY24 expenses.

Any change orders or contract amendments in progress on FY24 POs or SPCs will be cancelled prior to roll forward.

All invoices including regular invoices, Supplier Invoice Requests, Utilities, Construction and Library must be in Accounts Payable along with receiving performed (when applicable) by July 12, 2024. 

July 12, 2024 is the last day to enter goods or services received in June (with a June receipt date) for FY24 invoices received in July, to be expensed in FY24. 

The received date must be June 30, 2024, or prior, to expense in FY24.

Procurement becomes a closed activity.

Accounts Payable closes.

Procurement Roll Forward will take place after AP closes.  On or after July 17, Procurement will roll forward any open Procurement documents from FY24 into FY25. 

Procurement questions?  Contact your Procurement Coordinator.

Supplier Contract questions?  Review the Contract Management site.

Travel

Charges prior to June 16 must be verified AND fully approved by June 28, 2024 in order for June charges to expense in FY24 accounting.

Charges for June 16-June 30 must be be verified AND fully approved by July 5, 2024 in order for June charges to expense in FY24 accounting.

Please remember to verify the document date in the header as it  defaults to the current date.  

Must be received by the Travel Office by July 8, 2024 to ensure expensing to FY24 accounting. 

For expense reports created on or after July 1, 2024, that should expense to FY24, change the Expense Report Date in the header to June 30, 2024. If the travel spans both fiscal years, the expense will be processed in FY25 upon the travelers return.

For additional information regarding Travel entries, contact uatravel@uark.edu. 

eProcurement

Charges prior to June 16 must be verified AND fully approved by June 28, 2024 in order for June charges to expense in FY24 accounting.

Charges for June 16-June 30 must be be verified AND fully approved by July 5, 2024 in order for June charges to expense in FY24 accounting.

Please remember to verify the document date in the header as it  defaults to the current date. For purchases made on or before June 30, 2024, that should expense to FY24, change the Document Date in the header to June 30, 2024.

WEX Fuel Charges for June 1 through June 30 must be verified AND fully approved by July 8, 2024 in order for June charges to expense in FY24 accounting.

For additional information regarding PCard, contact pcard@uark.edu.

For additional information regarding TCard, contact uatravel@uark.edu.

Accounts Payable

Must be received by Accounts Payable and matched to a receiving entry (if applicable) with a received date of June 30, 2024 or earlier by July 12, 2024 in order to ensure expensing in FY24 accounting.

It is extremely important that departments pay attention to the dates on their procurement documents prior to submitting invoices to Accounts Payable to ensure proper expensing into correct fiscal year.

For additional information regarding Accounts Payable entries, contact acctpay@uark.edu. 

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