Important FY26 Year-End Closing Timelines
May 11, 2026
In preparation for the FY2026 year-end close on Tuesday, June 30, 2026, Drexel Accounts Payable & Procurement Services has compiled key processing dates. Please read the following carefully to facilitate a smooth end to FY26 and transition to FY27.
Top 5 Actions to Take Now
- Review and close open Purchase Orders if fully invoiced
- Enter all receipts, clear shipping items and resolve outstanding issues
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Submit all invoices promptly using supplier’s actual invoice dates
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Notify General Accounting of any expense accruals for goods received or services provided during FY26 that will not be invoiced before August 6
- Complete P-Card activity and reconciliation early
FY26 SAP ARIBA PURCHASES, INVOICES & TRAVEL REIMBURSEMENTS
Purchase Order Processing
Employees must input purchase orders (POs) for FY26 as soon as order details are confirmed. Processing time may be impacted by new supplier registration, a Request for Proposal (RFP) requirement, or departmental approvals.
Orders that are not received by June 30, 2026, will be charged to FY27. Please monitor requisitions and goods receipts closely.
Purchase Order Responsibilities
Departments are responsible for reviewing and closing their own POs.
- Close POs only when all goods/services are received and invoices are posted
- Do not close POs if invoices or activity are still pending
Note: Closed POs cannot be reopened, and funds will not be restored if closed in error. POs should liquidate within 30 minutes after closure. If not cleared by the next business day, contact Sourcing.
Encumbrance Reporting
Financial Managers should review open encumbrances and ensure balances are accurate. Additional guidance will be provided separately.
Invoice & Receipt Guidance
- Use the supplier’s actual invoice date
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Enter all receipts before June 30
- Resolve all receipt, shipping, pricing exceptions
Invoices cannot be processed unless the receipt is completed, the shipping exception is cleared, and the invoice has been approved.
Accruals
If goods/services were received in FY26 but an invoice has not been received, or the supplier has not billed and the invoice will not be submitted into SAP before Aug. 6, request an accrual from General Accounting to ensure the expense is recorded in FY26.
Planning Ahead for FY27
As of May 1, 2026, Purchase Orders may be created in SAP Ariba for FY27.
- Must use an accounting date of July 1, 2026, or later
- Need-by date should be after July 1, 2026
- Include external note to supplier: “This is an order for FY27. All goods/services must be shipped for receipt after June 30, 2026. We will refuse early deliveries.”
Key Deadlines
- June 17, 2026: Last day to submit requisitions, check request and confirming order forms for existing or new suppliers
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June 24, 2026: Supplier registration must be complete
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June 26, 2026:
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Last day to approve goods receipts
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Last day to submit PO-based invoices, check requests, and confirming orders
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Invoice/accounting date must be June 30, 2026, or earlier
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June 29, 2026: Final FY26 Payment Run
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July 1, 2026:
- Deadline to submit FY26 Travel Expenses in Concur; expenses submitted after this date will be recorded in FY27
- FY27 confirming orders and check requests may be submitted
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First Payment Run of FY27
- July 7, 2026: Year-end encumbrance roll and beginning balances to FY27
PURCHASING CARD (P-CARD) PURCHASES
All transactions should be fully reconciled by the posted deadlines. To ensure a smooth year-end process, be sure to make your purchases as early as possible and reconcile transactions as they post.
- June 27, 2026: Last day to make FY26 purchases. Goods/services must be received by this date
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July 3, 2026: Suppliers must post transactions to the bank
- July 7, 2026: Transactions made between June 23 and June 30 must be fully reconciled. Transactions not reconciled by the deadline will be charged to FY27 and will be subject to compliance review, including suspension and termination of card privileges
QUESTIONS?
Please contact: