Heads Up: New 60-Day Rule for AP Expense Reimbursements
Effective July 1, 2026
Starting July 1, 2026, all employee expense reimbursement requests must be submitted within 60 calendar days of the date the expense was paid or incurred. This applies to all out-of-pocket purchases made on behalf of the university — things like supplies, registration fees, memberships, and similar items.
Why does this matter? The IRS requires it. Under the agency’s accountable plan rules, reimbursements submitted after 60 days can’t be treated as non-taxable — which means the amount gets reported as income on your W-2. Nobody wants a surprise at tax time.
The short version: submit your reimbursement requests promptly. If you have questions about what qualifies or how to submit, reach out to apdept@wm.edu.
BuyW&M Invoice requirement for P-prior year and N-new year
To account for invoices being submitted in advance that will be payable in FY27 (7/1/26 or after), the Prior Year or New Year question will be required effective May 29th through September 15th. Select P for prior year if the payment being made is for goods received or services rendered on or before June 30, 2026. Select N for new year if the payment being made is for goods received or services rendered after June 30, 2026. This is for financial statement purposes only and does not affect departmental budgets. This is not used to determine if an invoice should be paid in FY26 vs FY27 as that is determined based on the invoice due date.
If you are not certain when the goods/services will be received, it would be best to not submit the invoice until after the goods/services have been received. If you need assistance determining whether you should select P-prior year or N-new year, please contact the Director of Financial Reporting.
FY26 SPCC Training
All Cardholders and the supervisors completing Approvals must complete the FY26 SPCC Training in Workday by Monday, June 15, 2026. For questions, email procure@wm.edu.
