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Fiscal year end 2021 Reminders

August 9, 2021

As we conclude Fiscal 12 months 2021, discuss with the Northwestern Fiscal year end web site for vital counsel, together with key dates, task reminders and contacts. The web site also contains a virtual town corridor Session and corresponding presentation slides. we've additionally highlighted some key dates related to Procurement and charge features:

Procurement:

August 31

  • final day for FY21 Requisitions to be accredited and sourced into POs
  • All requisitions that haven't been approved and sourced via 6 p.m. should be cancelled and closed
  • September 1

  • FY22 opens for the creation of Requisitions for goods and services to be acquired in the new fiscal yr
  • Any requisition created on or after this date will default to FY22
  • First day to publish new Blanket buy Order Requests
  • September 10

  • buy Orders, iBuyNU and Non-Catalog, with a pending change order no longer approved through 6 p.m. on 9/10/21 should be closed, together with purchase Orders with a status of “Pending Approval” or “Denied”
  • All buy Orders, iBuyNU and Non-Catalog, created in FY20 then rolled to FY21 might be closed
  • All last buy Orders may be rolled into FY22
  • All acquire by means of dollar amount & Blanket purchase Orders may be closed (except FM get hold of by using greenback amount & supply Sub-Contract POs)
  • corporate Card:

  • company card transactions should still be made via 8/25/21 to make certain that they're posted in My pockets in FY21. Transactions made after 8/25/21 can’t be guaranteed to appear in My wallet for processing in time for yearend cutoff.
  • All transactions with a publish date of 8/31/21 or sooner should still be reconciled on an price document and in the money owed Payable Inbox by 5 p.m. on 9/9/21 to assure the fee is diagnosed in FY21.
  • money owed Payable:

    August 31

    September 1-10

  • each FY21 and FY22 should be open all over this length
  • September 1

  • FY21 receipt requirement should be lifted
  • September 7

  • FY21 paper files ought to be acquired with the aid of the bills Payable office by way of 5 p.m. to assure processing in FY21
  • Scanned FY21 invoices need to be delivered by way of 5 p.m. to invoicesonly@northwestern.edu to assure processing in FY21
  • September eight

  • FY21 electronic transactions (rate reports, payment Requests) need to attain the bills Payable inbox with the aid of 5 p.m. to ensure processing in FY21, including cost reviews with My pockets transactions
  • September 10

  • accounts Payable and costs modules in NUFinancials will shut at 5 p.m.
  • FY21 expense reviews not yet submitted into workflow may be deleted
  • cost stories with a status of "Submitted for Approval" or "Approvals in manner" can be sent again for resubmission in FY22
  • beneficial Cognos stories:

  • Departments and schools may still run their Open Encumbrance report and in shape Exception file to verify whether there are any active orders. These studies should still be run continually all the way through the year to aid manage orders submitted via NUFinancials.
  • Open Encumbrance report: This record, entitled SC016–Open Encumbrance document in Cognos, lists all energetic buy Orders or all lively traces from a PO and offers the details of each and every order. Following are some explanation why a purchase order Order or line(s) from a PO will appear on your Open Encumbrance record:
  • No bill: If a PO has been issued and you have got the product or service but have yet to be invoiced by the seller, reach out to the service provider to request the bill and ahead it to debts Payable as soon as it's received.
  • gadgets Unavailable: if you acquired observe from a employer that an item on a specific order (either iBuyNU or non-catalog) is unavailable and should now not ship, and it continues to be displaying in your Open Encumbrance document, you have to publish a purchase order Order trade request to have the PO closed.
  • suit Exception record: This record is titled SC027–healthy Exception document through department in Cognos. Following are a few the explanation why a purchase order Order or line(s) from a PO will seem for your suit Exception record:
  • bill no longer inside Tolerances: If an invoice has been entered that doesn't fall inside tolerance, a charge are usually not processed. Tolerance considerations can be caused when the price listed on the bill is 25% or more than the cost listed on the purchase Order. Discrepancies in quantity and unit of measure can additionally cause orders to seem for your healthy Exception record.
  • If the rate listed on the bill is wrong, contact the vendor to request a corrected bill.
  • If the invoice expense is suitable but does not fit the rate on the PO, put up a purchase order Order trade request to Procurement to have the rate adjusted.
  • Open Receipts (for non-catalog orders most effective): it's essential that you enter receipts as soon as your order has been bought. you probably have any open purchase Orders to your suit Exception document, confirm no matter if a receipt must be entered. if so, enter the receipt, and if there are not any other issues with the PO, it will automatically be removed out of your Open Encumbrance record within 15 days.
  •  For guidance finding or operating the Open Encumbrance record or healthy Exception document, contact the Northwestern assist center by means of dialing 847.491.4357. if you have questions involving the crucial steps to eradicate a PO to your branch’s Open Encumbrance file or fit Exception report, contact Procurement at procurement@northwestern.edu.

     < lower back to present news


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