It's that time of year again!

The YEC process of recording and reporting expenses from September through August gives a snapshot of the university's transactional activity each fiscal year. For an in-depth look at the process, review Topic Overview: Year-End Close.

Schedules and Deadlines

YEC officially begins Friday, August 27, 2021.  There are five distinct closing stages for YEC activities:

Daily Deadlines

Deadlines for same night processing (exceptions noted in calendar) are below. Review the Year-End Close Interactive Calendar for more information.

  • 3 p.m. - Submit core journals and iJournals

  • 7 p.m. - Final approval (including end-route) for iJournals

  • From 9/1- 9/17 core journal posting: 12 p.m., 2 p.m., 5 p.m., 7 p.m., and 9 p.m.

  • 9/20 - core journal posting: 12 p.m., 2 p.m., 5 p.m., and 7 p.m. (CO only)

Reminders:
  • AP payments on hold (ACH, Wires, Checks, Direct Deposit) starts on 8/27/2021 and resumes on 9/1/2021. There will be no payments made for any reason during this time. 

  • PTA Blackout Period starts on 8/27/2021 and resumes on 9/12/2021

Questions?

Contact Systems and Reporting Operations (S&RO)

Subscribe to the YEC communications to stay up to date on each stage. 

Due to YEC, there is a temporary freeze on the set-up of new, and changes to, existing expenditure types and object codes. 

  • The deadline for submitting requests is August 1 at  5 p.m.

  • The freeze will be in effect beginning September 1 and will end October 31.

Impact
  • If you submit a request prior to the August 1 deadline, every effort will be made to process your request in time for the August close.

  • Requests submitted August 1 through October 31 will be reviewed and processed beginning November 1 and will be available only for the November month-end close.

Latest Expenditure Types and Object Codes
Questions?

Prompt submission is important to ensure financial reporting compliance. In addition to timely submission of current year invoices and Expense Requests transactions, prompt attention and resolution of Holds and Returned, Rejected transactions helps them get processed this fiscal year.

Transactions received by the deadlines below will be processed this fiscal year. Payment Services will make every effort to process items received after this date in this fiscal year, but that cannot be guaranteed.

Wednesday, August 11, 5 p.m. Deadline:

  • Expense Requests Transactions (Reimbursement/Expense Reports including TCard transactions, Advance Requests, Non-PO Payments and Petty Cash Replenishments): Transactions must be completely approved with backup documents attached.
  • Accounts Payable Invoices:  Invoices must be received in Accounts Payable, via upload or mail delivery. A fully approved purchase order with sufficient funds must be in place and referenced on the invoice before submitting to Accounts Payable.

Friday, August 20, 4 p.m. (PCard) 5 p.m. (A/P) Deadlines:

  • Purchasing Card (PCard) Approval:  Please verify your transactions and have them completely approved. You can identify transactions awaiting verification and approval from your Oracle PCard Worklist

Submit a Support Request if you have any questions or need assistance.

These helpful OBI reports and techniques help you prepare for and complete Year-End Close:

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