Office of the Comptroller

FY26 Year-End Closing Schedule

April 29, 2026

In preparation for the 2026 fiscal year-end close, the following guidelines and calendar outline the standard closing requirements. Please review and circulate this information so that everyone is familiar with the guidelines and important deadlines. This will assist in making the year-end closing process more efficient. Procurement Services' year-end information will be posted on their website.

Transaction Processing

The following are key processing dates for the fiscal year 2026 close-out and transition to fiscal year 2027:

May 1, 2026

  • New Purchase Orders for FY27 can be created via SAP Ariba using accounting date on transaction of 7/1/2026. The goods being ordered should have a need by date after July 1, 2026.

May 4-8, 2026

  • Email reminder sent out to all requesters with open POs in SAP Ariba that encumbrances should be reviewed and closed out by requesters no later than June 30, 2026. Blanket POs for FY26 should be closed out after final invoices for FY26 have been paid and new requisitions entered for FY27 POs.

May 13, 2026

  • Orders in SAP Ariba beyond this date require the requester to confirm with the supplier that delivery will be made on or before June 30, 2026. Please note in a comment on the requisition that you have confirmed this with the supplier.

June 1, 2026

  • Recurring payments for FY27 can be created in SAP Ariba via the "Recurring Payment Request Form" under the "Invoice & Payment" tile. Recurring payments due July 1, 2026, must be submitted by June 10, 2026. Please refer to Procurement Services' step-by-step guide for submitting a recurring payment request here.

  • Deadline to submit FY26 Supplemental Payroll Authorizations to Human Resources via email to hr@drexel.edu.

June 5, 2026

  • Deadline to submit FY26 Personnel Budget Transfers to Human Resources Information Systems (HRIS) at hris@drexel.edu.

June 10, 2026

  • Capital Asset Confirmation Process begins. A separate memo will be sent to individuals required to complete confirmations with detailed instructions. This process will be optional this year since we just completed full inventory in January-February 2026.

June 17, 2026

  • SAP Ariba requests with new suppliers will need to be submitted by June 17, 2026, in order to be processed in FY26, and the supplier must complete their registration prior to June 24, 2026.

June 22, 2026

  • Deadline to complete leave reports for exempt employees for FY26.

June 24, 2026

  • Deadline to approve leave reports for exempt employees for FY26.

June 26, 2026

  • Cut-off for using P-Card for FY26 purchases; goods or services must be received by this date and supplier must upload their charges to the bank no later than July 3, 2026. All transactions related to June 2026 will be accrued in FY26. If order does not come in on time or is not charged to P-Card by deadline, it will be charged to your FY27 budget.

  • Last day to approve goods receipts and submit PO-based invoices for FY26 payment in SAP Ariba, and the invoice must be dated no later than June 30, 2026. Not putting the correct accounting date will require the transaction to be canceled and resubmitted by the department.
  • Last day to submit check request or confirming orders for FY26 payment in SAP Ariba, and the accounting date must be dated no later than June 30, 2026. Not putting in the correct accounting date will require the transaction to be canceled and resubmitted by the department.
  • Position Control Roll Processing.   

 

June 29, 2026

  • Final payment run of FY26.

July 1, 2026

  • FY27 Confirming Orders and Check Requests can be submitted via SAP Ariba.

  • FY27 Unrestricted Temporary Budget available for review in Web*Financials and Oracle Analytics Server (OAS).
  • FY27 Designated, Restricted and Agency Temporary Budgets available for review in Web*Financials and Oracle Analytics Server (OAS).
  • Release of FY26 Q4 Effort Reports to Pre-Reviewers (April 1, 2026, to June 30, 2026).
  • First payment run of FY27.
  • Deadline to submit FY26 Travel Expense via Concur.  

 

July 7, 2026

  • Year-end roll of encumbrances and beginning balances to FY27.

July 14, 2026

  • All FY26 labor redistributions must be approved by Research Accounting Services and HRIS by close of business.

August 4, 2026

August 5, 2026

August 7, 2026

  • Deadline for all externally sponsored programs, designated and restricted FY26 deficits to be cleared.

 

August 8, 2026

  • FY27 - Period 1 - July is closed.

August 15, 2026

September 3, 2026

 

September 9, 2026

  • FY26 - Period 2 - August is closed.

October 22, 2026

  • FY26 Consolidated Financial Statements approved by Board of Trustees' Audit Committee.

  • FY26 - Period 14 is closed.

If you have any questions concerning the closing calendar deadlines, email genaccting@drexel.edu or contact General Accounting at 215.895.1442. If you have questions about Procurement Services deadlines, email sourcing@drexel.edu or contact Procurement Services at 215.895.2876.