Year-End Tips and Deadlines
Deadlines for Fiscal Year 2013 Purchases
To ensure this year’s purchases are processed and billed to this fiscal year, please observe the following deadlines.
Purchasing Assisted Orders
For Purchase Orders to be processed by purchasing staff before the end of this fiscal year, please submit all requisitions a few days prior to the May 31 deadline.
Complex requisitions may require special processing or additional approvals to comply with policies, and should be submitted well in advance of this deadline.
Shop Catalogs (B2B) Orders
The faster processing time for B2B orders will allow departments to continue initiating routine orders through most of June.
However, orders are charged to the fiscal year in which they are delivered, not the year in which they are created.
Ordering by June 21 will allow most B2B vendors to deliver before the end of FY13, but complex orders or orders to vendors with slower shipping terms should be placed as soon as possible.
P-Card charges are billed to the fiscal year in which the associated PCDO is approved by the account manager.
Transactions placed on or before June 21 should have time to post from the bank to our internal accounting system. This allows the approval to be registered before the deadline of June 30.
P-Card restrictions still apply, as defined on the procurement services website.
Internal IU Transactions
Funds for internal orders are taken from the fiscal year in which the order is billed in KFS. It may take days or weeks for the order to bill from the time it is initiated, depending on the service in question.
Print Services, for example, advises customers to submit FY13 orders by June 14, but the size and complexity of certain orders may require earlier submission.
Fiscal Year 2014 Requisitions
KFS Purchasing users are now able to initiate Fiscal Year 2014 orders by selecting “2014” in the “Document Overview” tab of the requisition.
If this option is selected, the requisition will route to purchasing staff for processing. It will be assigned to a contract manager who will begin preliminary work on the order as needed. The Purchase Order will be held until a few days prior to June 30, prompting the items or services to be delivered and billed in Fiscal Year 2014. Any encumbrances for these orders will also count against FY14 funds.
Note: This option is not available for “Shop Catalogs” orders, as many of those vendors provide immediate shipping.
Now is the best time to check current recurring orders and ensure they are properly funded for the remainder of this fiscal year, and to carry any expiring orders into next year as needed.
Run an IUIE report by User Name or by Chart and Org to identify orders expiring at the end of this fiscal year, then:
- If a Purchase Order does not include enough funds to pay the remaining invoices received this year, contact the assigned contract manager or PO initiator to request an amendment.
- If the Purchase Order is set to expire and must be renewed for next year, use the “Copy” feature in KFS to create a FY14 requisition using the same details. Just be sure to select Fiscal Year 2014 in the “Document Overview” tab and update the items and account information as needed.
Note: It is critical to refresh the vendor address on the new requisition after using the “Copy” feature, as fax numbers and other key details often change from one year to the next.