Fiscal Year End

Welcome to the Fiscal Year End website! Fiscal year end is June 30, 2026 and this is an extremely busy time of year for all of us. This website holds all of the deadlines and reminders that will help you have a smooth and successful fiscal year end! Please make sure to check back frequently as we update it to include additional information regarding other financial transactions.

Don't forget, we have virtual Fiscal Year End Office Hours every other week in May and June! You can sign up in Workday Learning. Please join us and ask any questions you have about fiscal year end, we are excited to help!

Technology Acquisition

Date	Description
June 8, 2026	Last 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 22^nd at noon will be billed in the current 2025-2026 fiscal year.

Orders for fiscal year 2026-2027 will be accepted on July 1, 2026.

Please visit the Technology Acquisition website for guidelines and policies.

Purchasing and Invoicing

Date	Description
June 1, 2026	Requisitions for future dated purchases open for FY 2026-2027 Beginning on June 1, 2026, you can submit a requisition for the new fiscal year. You should only use this option if the services are occurring in the new fiscal year or the goods will be received in the new fiscal year and no invoices will be paid until on or after July 1. Help Article - How to Create Requisitions for the New Fiscal Year
June 30, 2026	FY 2025-2026 requisition deadline All requisitions for FY 2025-2026 will be closed at 5:00pm on June 30, 2026 regardless of status. If your requisition has not been fully approved and turned into a purchase order by this deadline, it will be closed and you will need to resubmit it in the new fiscal year on or after July 1, 2026. ALL purchase orders with inactivity of 13 months (inactivity as of 5/31/2025) will be closed (regardless of obligation balance remaining) on June 30, 2026.
July 2, 2026	Last day to submit invoices with a purchase order number to Accounts Payable for FY 2025-2026 Invoices that have a valid purchase order number must be submitted to [email protected] by July 2, 2026 in order to be processed in the 2025-2026 fiscal year.
July 14, 2026	Last day to approve invoices in Workday for FY 2025-2026 The last day to approve invoices in Workday for the 2025-2026 fiscal year is July 14, 2026. Please make sure to check your Workday inbox often and approve any invoices in a timely manner. Invoices for fiscal year 2025-2026 that are not approved by July 14 run the risk of being charged to fiscal year 2026-2027.
July 15, 2026	FY 2025-2026 purchase orders with remaining balances will be rolled to FY 2026-2027

Prepaid vs. Request Date

If you are creating a requisition in the current 2025-2026 fiscal year that is for goods or services for the new 2026-2027 fiscal year, you have two options to denote that on the requisition depending on the type of purchase you are making. Please note, you can only use ONE of these options, not both.

Option	Purpose	When will this be paid?	Procedure
Prepaid	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.	Now (current fiscal year 2025-2026)	Add a note in the Internal Memo field of your requisition stating that the purchase is PREPAID.
Request Date	This option will become available on June 1, 2026. 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 December.	New fiscal year 2026-2027 (after July 1, 2026)	How to Create Requisitions for the New Fiscal Year (Available on June 1, 2026)

Reminders & Review

Purchasing Reminders

The last day to submit requisitions is Tuesday, June 30 at 5:00 p.m. Only new year requisitions should be submitted on or after July 1.

Reminders:

Orders from punchout suppliers (Amazon, Office Depot, Staples, Grainger, CDW-G) require a requisition
Payments to Independent Contractors require a requisition, regardless of dollar amount
Honorariums for guest speakers can be paid using a Supplier Invoice Request and do not require a requisition

Purchase Order Review

As our Fiscal Year end approaches, we ask that you be proactive about reviewing the remaining balances on your department's existing Purchase Orders. This can be done in Workday by using a few different reports:

My Requisitions
GVSU Purchase Order Balance
Financial Reports (GVSU General Fund Budget to Actuals or GVSU Sources and Uses)

Purchase Order Balance Help Article Report Guide: GVSU Purchase Order Balance Using Financial Reports to see Total Obligations by Supplier

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.

Remaining balances on a PO could be a result of:

The invoice(s) being less than the PO total
Change(s) in the original order
Discount(s) not being reflected in the purchase order
Error in shipping or billing by the supplier

Help Article: How to Close Purchase Orders

Invoicing Reminders

Invoices under $5,000 (not already associated with a purchase order, ongoing contract over $5,000, and not for independent contractors) may be entered on a Supplier Invoice Request by the GVSU employee. These invoices will not require a requisition and will be paid using the Supplier Invoice Request,
If the invoice is emailed to [email protected] without a purchase order number, Accounts Payable will assign the home cost center for the name or department listed on the invoice. The invoice will route for approvals based on that cost center. Cost Center Assistants should review the invoice and make any necessary changes to the worktags. If the invoice is less than $5,000 and not for an ongoing contract over $5,000 or an independent contractor, the invoice will not require a requisition and will be paid against the worktags that are approved. If the invoice is for $5,000 or greater, for an independent contractor OR is associated with an existing purchase order, please SEND BACK the invoice to Accounts Payable in Workday with the PO# entered in the SEND BACK comment box.
- **Note, in departments where a Cost Center Assistant is not assigned, Cost Center Managers will not be able to make changes to the invoice and must send it back to Accounts Payable with any requested changes noted in the SEND BACK comment box.

Reminders for invoices sent to [email protected] to be processed for payment:

PO numbers need to be on invoices not in email body
Must include the PO number not the requisition number
One attachment per email
The [email protected] email box is not monitored for questions, use this only for invoice submission

When to Create a Requisition Flowchart

Supplier Invoice Requests

Date	Description
July 7, 2026	FY 2025-2026 supplier invoice requests need to be submitted for approval in Workday by July 7, 2026
July 10, 2026	All FY 2025-2026 supplier invoice requests must be fully approved by July 10, 2026 in order to be processed in the 2025-2026 fiscal year

Miscellaneous Payment Refund Requests

Date	Description
July 2, 2026	Miscellaneous Payment Refund Requests must be submitted to Erica Herwig by July 2, 2026

Expense Cards and Expense Reports

Reminder regarding Expense Cards: Most transactions usually post within two or three days following the transaction date, however there can be delays to the posting caused by back orders or if the merchant waits to ship before charging the card. We recommend placing all of your orders by June 14 in order to avoid delays in shipping that might cause transactions to post to your Workday account too late to be included in your 2025-2026 expense report.

Most merchants will charge your expense card when your order ships. Shipping could be delayed due to back-ordered items or special circumstances, and we cannot guarantee that any orders placed late June will post to your Workday account in time. Please plan ahead to get as many of your orders placed in early June as possible, as we are not able to retroactively change the fiscal year that your expense card transactions post to.

Please make sure to check your Workday Expenses Hub frequently for any outstanding transactions (lodge card, expense card, declining balance card) and reconcile everything available on your expenses list. Please note that you do not need to wait until your trip has concluded to reconcile any expenses relating to that trip. We are not able to post date anything that is submitted late, so it is imperative that you reconcile your outstanding expenses as quickly as possible.

Date	Description
June 26, 2026	Last day to submit expense reports for FY 2025-2026 Deadline to submit and approve expense reports for the 2025-2026 fiscal year. New year reports for the 2026-2027 fiscal year can be submitted on or after July 1, 2026. Card charges that post after June 26 will need to be included in your July expense report.
June 30, 2026	Last day to approve expense reports for FY 2025-2026 Deadline to approve expense reports for the 2025-2026 fiscal year. All Cash Advance reconciliations for Cash spent in FY 2025-2026 must be approved or repaid
July 1, 2026	Expense reports for FY 2026-2027 can be submitted
July 16, 2026	Processing begins for July expense reports New expense reports will begin being processed on July 16.

Accounting Adjustments, Department Journal Requests, Internal Service Deliveries and Budget Amendments

Date	Description
June 1, 2026	Last Day to submit General Fund BASE Budget Amendments for next year. Please email requests for General Fund base budget amendments to Andrea Westdorp by June 1, 2026, if you would like them posted as part of the approved FY26-27 budget load to Workday. General Fund base budget amendments requested after June 1, 2026, will be held for processing until after the approved budget is loaded. General Fund base budget amendments associated with reorganizations may be held for processing in August 2026, subject to budget office discretion.
July 15, 2026	Internal Service Deliveries (Non-Tech Acquisition) and Payroll Accounting Adjustment requests must be submitted
July 16, 2026	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

More dates and deadlines coming soon!

All Deadlines

Date	Description
June 1, 2026	Requisitions for future dated purchases open for FY 2026-2027 Last Day to submit General Fund BASE Budget Amendments for next year
June 8, 2026	Last day to submit Technology Acquisition quote orders via internal service delivery
June 22, 2026	Last day to submit Technology Acquisition orders for catalog/stock orders via internal service delivery
June 26, 2026	Last day to submit expense reports for FY 2025-2026
June 30, 2026	Fiscal Year End FY 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 (regardless of obligation balance remaining) on June 30, 2026. 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, 2026	Expense reports for FY 2026-2027 can be submitted Technology Acquisition orders for FY 2026-2027 will be accepted
July 2, 2026	Last day to submit invoices with a purchase order number to Accounts Payable Miscellaneous Payment Refund Requests must be submitted to Erica Herwig
July 7, 2026	Last day to submit supplier invoice requests for approval
July 10, 2026	Last day to approve supplier invoice requests
July 14, 2026	Last 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

Page last modified June 4, 2026

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