Tag Archives: Fiscal Year End

May Accounting Period Close

For employees who track or manage department budgets, please note that the month of May 2024 is now closed in CFS.

This means the General Ledger (GL) system will not accept any more entries with a May journal date.  May transactions can still be entered into the GL system, but the journal date must be 6/1/24 or later. The current period open is June 2024.

Finance & Business Services – Friendly Reminders

As we are in the home stretch of Fiscal Year 2023-2024, your FABS team has some friendly reminders.

June Deadlines

June 7: Last day to submit Interagency Financial Transactions (IFT) to Accounting Services.

June 14:

  • Last day to approve HR Expense Adjustments in FTS.
    • This module will be turned off after this date and made available again on July 1. All adjustments requested after the deadline will require justification and approval from a division’s Finance Advisory Council representative.
  • Last day to submit department chargebacks and billing requests to outside customers to Accounting Services.
  • Last date to submit Petty Cash reimbursements to the Bursar’s Office.

June 26: Last day to approve Budget and Expense Journal Transfers in FTS.

June 28: Cash and check deposits must be submitted to the Bursar’s Office by noon. Deposits received after this date will be processed in the next fiscal year.

Though the deadlines to submit purchase/payment requests for the current fiscal year has passed, FTS remains available to users for submitting Requisition, Direct Payment, Reimbursement, and Travel Authorization/Travel Reimbursement requests. These expenses will be processed and charged in the next Fiscal Year 2024-25.

Refer to Fiscal Year End 2023-2024 Deadlines for details.

Please share this message with any staff or faculty you feel should be notified. Feel free to reach out to FinanceConnect with any questions at financeconnect@sjsu.edu.

Strategic Sourcing – Contracts & Procurement Services – Friendly Reminders

Your Strategic Sourcing team has some friendly reminders to help you prepare for the Fiscal Year End!

May Deadlines

May 10th: Last day of GoCard billing cycle (May statement). Purchases posted to this cycle will go against 2023-24 funds. Charges incurred after this day will be expended in 2024-24 (June statement).

May 13th:

  • Requisition for 23/24 FY must be fully approved in FTS by this date.
  • Blanket Orders & Service Orders for 23/24 FY must be fully approved in FTS by this date.
  • Change Order Requests for 23/24 FY must be approved by this date.

May 15th: Last day of ProCard billing cycle (May statement). Purchases posted to this cycle will go against 2023-24 funds. Charges incurred after this day will be expended in 2024-24 (June statement).

May 31:

  • Employee Travel for 23/24 FY must be fully approved in FTS by this date.
  • Non-Employee Travel Reimbursement for 23/24 FY must be fully approved and submitted to Payment Services’ Travel Desk by this date.
  • Direct Payment & Employee Reimbursements for 23/24 FY must be fully approved in FTS by this date.
  • Final day to submit PO invoices for 23/24 FY in FTS e-Invoice.

Requisition Reminders:

  • Provide a point of contact (name and email address) for the suppliers you are working within your requisition header comments.
  • Provide special instructions for Purchase Order delivery requirements in the requisition header comments if applicable.

Submit your purchase requests now and avoid the crunch! Please plan – we are here to help if you have any questions.

Full list of 2023/24 FYE Deadlines

Please share this message with any staff or faculty you feel should be notified. Feel free to reach out to our Strategic Sourcing team for any questions at strategicsourcing-c-ps@sjsu.edu.

Wishing you all a great and successful month!