Year-End Purchasing Information
In preparation for the fiscal year 2023 year-end close on Friday, June 30, 2023, Drexel Accounts Payable & Procurement Services has compiled key processing dates. Please read the following carefully to facilitate a smooth end to FY23 and transition to FY24. For additional information on invoice processing, please review the Accounts Payable 2023 Fiscal Year-End Checklist.
FY23 Smart Source Purchases, Invoices & Travel Reimbursements
Purchase Order Processing
Employees must input purchase orders for FY23 as soon as order details are confirmed. There are many factors that affect the purchase order processing time, such as new supplier registration, a Request for Proposal requirement or departmental reviews. Orders that are not received by Friday, June 30, 2023, will be charged to FY24.
Friday, June 30, 2023
- Confirm receipt in Smart Source of any goods or services rendered in FY23. Orders that are not received by Friday, June 30, 2023, will be charged to FY24.
- Invoices for goods and services rendered in FY21 must be received by the Digital Mailroom at firstname.lastname@example.org no later than Friday, June 30, 2023, and the invoice must be dated no later than June 30, 2023.
- FY23 payments, processed on a Smart Source check request or confirming order, must be submitted through Smart Source by Friday, June 30, 2023.
Remember: Smart Source check requests and confirming orders submitted after June 30 for FY23 must use the accounting date of June 30, 2023. For assistance with changing an order's accounting date, follow this PDF guideline. An order with an incorrect accounting date will require you to cancel and resubmit the order. Orders submitted after June 30 are not guaranteed to be processed for FY23. Please submit your documents as early as possible.
Monday, July 3, 2023
- Employee travel expense forms related to travel conducted through Friday, June 30, 2023, must be submitted via Concur no later than Monday, July 3, 2023. Travel expenses submitted after July 3, regardless of date traveled, will be reflected in FY24.
- Deadline to submit Purchase Order Change request.
Wednesday, July 5, 2023
- Invoices in Smart Source must be approved by 5 p.m. on July 5. Invoices approved after July 5 will post to FY24.
Please closely monitor your invoice approval queues to ensure timely handling of year-end invoices!
FY24 Smart Source Purchases
You can now create purchase orders in Smart Source for FY24. If you choose to create purchase orders for FY24 before Saturday, July 1, 2023, remember to do the following:
- Smart Source purchase orders for FY24 must have an accounting date of July 1, 2023, or later. For assistance on how to change the accounting date on a purchase order, follow this PDF guideline.
- Create an external note to supplier: "This is an order for FY24. All goods/services must be shipped for receipt after Friday, June 30, 2023. We will refuse early deliveries." For assistance on how to add an external note, follow this PDF guideline.
Purchasing Card (P-Card) Purchases
Friday, June 30, 2023, will be the last day to purchase goods and authorized services for FY23. The supplier must charge your P-Card no later than Friday, June 30, 2023. If goods are not received or if the supplier does not charge your P-Card by June 30, the transaction(s) will be reflected in your FY24 budget.
Financial Managers will receive a separate email from Procurement Services with further instructions regarding the process for open commitment/encumbrance verification.
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