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Grand Valley State University

Finance Fiscal Year End Deadlines

Fiscal year end is quickly approaching! Our Fiscal Year End website has all of the information you need to have a smooth and successful year end, so make sure to check it out.

All of the important dates and deadlines are listed below, but the website will have more details about each deadline and what it entails.

DateDescription
June 1, 2026Requisitions for future dated purchases open for FY 2026-2027

Last Day to submit General Fund BASE Budget Amendments for next year
June 8, 2026Last day to submit Tech Acquisition quote orders.

Internal Service Deliveries for Technology Acquisition quote orders must be submitted and approved by your cost center manager no later than 12:00 p.m./noon on Monday, June 8, 2026. If the items ordered have not arrived on campus by June 30th, the ISD will be moved and billed in the next fiscal year.
June 22, 2026 Last day to submit Tech Acquisition orders for catalog/stock orders

Internal Service Deliveries for Technology Acquisition catalog/stock orders must be submitted and approved by your cost center manager no later than 12:00 p.m./noon on Monday, June 22, 2026. Pending stock availability, catalog/stock items ordered before Monday, June 22nd at noon will be billed in the current 2025-2026 fiscal year.
June 26, 2026 Last day to submit expense reports for FY 2025-2026
June 30, 2026FY 2025-2026 Requisition deadline - all requisitions for 2025-2026 will be closed at 5:00pm regardless of status

ALL purchase orders with inactivity of 13 months (inactivity as of 5/31/2025) will be closed

Last day to approve expense reports for FY 2025-2026

All Cash Advance reconciliations for Cash spent in FY 2025-2026 must be approved or repaid
July 1, 2026Technology Acquisition orders for fiscal year 2026-2027 will be accepted on July 1, 2026

Expense reports for FY 2026-2027 can be submitted
July 2, 2026Last day to submit invoices with a purchase order number to Accounts Payable

Miscellaneous Payment Refund Requests must be submitted to Erica Herwig 
July 7, 2026Last day to submit supplier invoice requests for approval
July 10, 2026 Last day to approve supplier invoice requests
July 14, 2026Last day to approve invoices in Workday for FY 2025-2026
July 15, 2026 FY 2025-2026 purchase orders with remaining balances will be rolled to FY 2026-2027

Internal Service Deliveries (Non-Tech Acquisition) and Payroll Accounting Adjustment requests must be submitted
July 16, 2026 Processing begins for July expense reports

Journal Entry Request forms, Accounting Adjustments, Budget Amendments must be submitted 
July 17, 2026 All department journal entries must be approved by all department roles in the business process

Tips for a Successful Fiscal Year End

Here are some quick tips and reminders for fiscal year end!

  1. Check your open purchase orders
    1. Help Article: How to Find Purchase Order Balances
    2. Help Article: GVSU Purchase Order Balance Report
    3. Using Financial Reports to See Total Obligations by Supplier
    4. If you are absolutely certain a supplier has been paid in full for items purchased on the PO in question, you can request that the PO be closed or reduced and the remaining obligation will be released back into your budget. 
    5. Help Article: How to Close Purchases Orders
  2. Plan ahead for deadlines!
    1. Visit our Fiscal Year End website frequently for updates and make sure to plan ahead as much as possible. 
  3. When creating new requisitions this time of year, know when to use prepaid versus changing the request date. 
    1. Prepaid is used when goods or services need to be paid for now in the current fiscal year 2025-2026, but the goods or services are actually taking place in the new fiscal year 2026-2027 (or the service period begins now and crosses over into the new year). Example: you sign a contract for services to begin on July 1st, but you must prepay for the services now.
    2. Request date change is used when you need to set up a PO now for goods or services that are occurring in the new fiscal year, but no invoices will be paid until on or after July 1st. Example: you sign a contract for services to begin on July 1st, but you will not be invoiced until August. This option will be available on June 1st.
    3. Help Article: How to Create Requisitions for the New Fiscal Year
  4. Double check that your multi-year purchase orders are set up correctly!
    1. It is very important to make sure your purchase order is set up for only the funds needed for the current fiscal year.
    2. If your Multi-Year purchase orders are set up for the full amount of the contract, they may need to be closed out to release the obligation back to your budget and ensure that it is accurate.
    3. Help Article: How to Create a Requisition for a Multi-Year Order
  5. Review your financial reports
    1. Look for items that may need to be moved from one set of worktags to another.
    2. Help Article: Financial Reports Tips and Tricks provides helpful information for running reports.
    3. Help Article: Workday Accounting/Transfer Process Guidelines identifies which processes to use if there is a correction needed. More information is available below under "Worktag Corrections" as well.
  6. Attend our Finance Fiscal Year End Office Hours to ask questions on anything related to fiscal year end. We are happy to help with any questions you have. 

Non-General Fund Divisional Balance Available Report

Check for Non-General Fund related deficits that need to be funded for year end with the Non-General Fund Divisional Balance Available report.

  • Deficits in Designated Funds (FD120), Gift Funds (FD250), and Agency Funds (FD800) will need to be covered by other funding sources.
  • Reminder that a debit/positive ending balance is a Deficit, and a credit/negative ending balance is a (Surplus).
  • To request a transfer to fund a deficit, please use the Department Journal Entry Request process.

Worktag Corrections

If you find transactions that require worktag corrections, follow the appropriate process according to the journal source of the original transaction.

Journal SourceDocument #Process for Correcting
Ad Hoc Bank Transaction
AHBT-######## Email bankdesk@gvsu.edu
Customer Cash SaleCSH-###### Email bankdesk@gvsu.edu
Department Transfer RequestJE-###### Department Journal Entry Request
Expense ReportER-###### Adjust Accounting on a Supplier Invoice

(Note: if you need to move a partial amount, a journal entry request has to submitted instead)
Internal Service DeliveryISD-########For changes to a Technology Acquisition ISD, contact techsupply@gvsu.edu

For all other ISDs, contact Terra Muckenthaler (muckente@gvsu.edu)
Manual (or Manual for Validation of Worktags)JE-###### Department Journal Entry Request
Supplier InvoiceSINV-####### Adjust Accounting on a Supplier Invoice

(Note: if you need to move a partial amount, a journal entry request has to submitted instead)

For detailed guidance, see Workday Accounting/Transfer Process Guidelines

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2015 James H. Zumberge Hall
Allendale, MI 49401

 

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