Fiscal Close: Information for Purchasing, AP, and Travel/Entertainment Transactions

aggie enterprise logo
Aggie Expense wordmark button.
Aggie Logistics wordmark button.
Aggie Print wordmark button.
Aggie Ship wordmark button.

This page provides information on preparing for fiscal close with your purchasing, accounts payable, and travel/entertainment transactions.

An online Fiscal Close Forum is scheduled for Monday, June 2nd from 10:30 to 12:00pm.  At the forum, we will provide an overview of significant Fiscal Close dates, recommend best practices, and have plenty of time for your questions!

Importance of Preparation

  • Some accounts/funds expire at end of fiscal year; work with your fiscal officers to make sure you are aware of the types of accounts you have.
  • Some accounts/funds may require usage and posting by fiscal year end.
  • Transactions require approvals before posting to the General Ledger; allow enough time for approvals to take place.
  • Before submitting your Requisition in Aggie Enterprise, make sure any required supporting documentation is added in the Notes and Attachments section.   

2024-25 Fiscal Close Deadlines

Please note that meeting a deadline assumes that submitted requests are fully completed and free of errors. 

Friday, 5/30 @ 5pm

Deadline for SCM Transaction Support Services clients to submit OPP (Online Pre-Purchasing) requests for supplier registrations, or updates, to facilitate invoicing. 

  • Other shared service groups or academic clusters may have different deadlines. Check with your department business office for more information.  
Friday, 6/06 @ 5pmDeadline for supplier-completed registration to be submitted in PaymentWorks and supplier edit requests to facilitate invoicing.
Friday, 6/06 @ 5pm

Deadline for SCM Transaction Support Services clients to submit OPP requests for processing Payment Requests (non-PO payments). 

  • Other shared service groups or academic clusters may have different deadlines. Check with your department business office for more information.
Friday, 6/13 @ 5pmDeadline for submitting FY24-25 Invoices and Payment Requests to invoicing@ucdavis.edu.
Friday, 6/20 @ 5pm
Friday, 6/27 @ 5pm
  • Deadline for department approval of AggieExpense Procurement Card reports.
  • Deadline to submit Invoices through boundary applications.
Thursday, 7/03 @ 5pmDeadline for campus approvers to approve FY24-25 Invoices and Payment Requests. 
Tuesday, 07/08 @ 8pmAccounts Payable Subledger closes for FY 24-25.

Please note: 

  • Any missing or incorrect information or attachments may result in transactions not being fully processed by fiscal year-end.
  • Purchase Orders approved after June 27 will post encumbrances to FY25-26. 

Managing Open Orders and Unreconciled Expenses

There are several Aggie Enterprise reports that can assist with fiscal close activities

  • The UCD PO Aging Report.  Learn how to access and run this report.  
    • This report should be regularly reviewed; as needed, contact suppliers to see if and when open orders will be fulfilled. If an order will not be fulfilled, request to close the associated Purchase Order.   
    • Multiple POs can and should be included on a single close request whenever possible.  This will expedite the closure of the requested POs.
    • Communication must take place with the supplier to confirm order will not be fulfilled prior to requesting order closure.

 

  • The Unreconciled Card Expenses (418) report displays outstanding Procurement Card and Travel Card expenses, while the Unreconciled Direct Billing Expenses (421) can alert you to any outstanding direct-billed expenses in AggieExpense.

Purchasing Reminders for Fiscal Close

Supplier Records

Make sure supplier information is current for any upcoming suppliers you plan to use in Aggie Enterprise or on the Payment Request document; update supplier records as needed, and allow time for review and approval of updates.  

Aggie Enterprise Catalog Orders

For catalog orders, allow time for departmental approval and order fulfillment by supplier. Some orders may take longer than others to fulfill, such as customized computer, oligos, and furniture orders.

Aggie Enterprise Non-Catalog Orders

For Aggie Enterprise non-catalog Requisition documents above the Automatic Purchase Order (APO) limit and for restricted commodity purchases, allow additional time for Procurement & Contracting Services to review, negotiate, and create Purchase Orders.

Procurement Card

Allow enough time for the transactions to be paid by the bank and to post to the General Ledger.  Complete all AggieExpense reconciliation reports for your Procurement Card transactions promptly and by the deadline listed above so the expenses will post to the desired account/object codes for the current Fiscal Year.

Contact Us