Accounts Payable 2020-21 Yearend!

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Posted on: Mar 24, 2021

Just a reminder that our fiscal yearend is next Wednesday!

To ensure that Concordia’s financial statements are accurate, we strive to have all transactions relating to the 2020-21 fiscal year reported in the correct year. In order for an expense to be posted to the current fiscal year the services must be rendered or goods received by the Submission Deadlines noted below.

At yearend, the first priority of the Accounts Payable Department is to pay invoices dated prior to March 31^st. Invoices to be charged against the 2021-22 budget year may be held for processing in the new year.

Accounts Payable system will be closed for the period of April 1-6, 2021 for 2020-21 yearend processing. We will not be able to print any cheques during this time.

In order to have your current year expenses posted to the 2020-21 fiscal year it is extremely important that purchasing is finalized well before yearend so that invoices can be received by Accounts Payable by the deadlines noted below. Any late submissions could result in the expense being paid from your 2021-22 budget.

Chrome River invoice and PO modules are now live. All invoices should be emailed by the vendor directly to accountspayable@concordia.ab.ca. These invoices will be entered into Chrome River by Accounts Payabel and will route for approvals. Any invoices received by the department should be emailed to accountspayable@concordia.ab.ca, please do not provide approvals as these invoices will be entered into Chrome River and again route for approvals.

For an accurate and efficient cut-off please be aware of the following Submission Deadlines and Requirements:

Payment Type	Submission Deadline	Requirements
EXPENSE CLAIMS	31-Mar-21	Approved Expense Claims must be received via Chrome River by Wednesday, March 31, 2021. Expense Claims received after this date will be paid from your 2021-22 budget.
MASTERCARD EXPENSES – (CORPORATE MASTERCARD CARDHOLDERS ONLY)	31-Mar-21	Approved March 27/21 MC statement expense claims must be received via Chrome River by Wednesday, March 31, 2021. Expense Claims received after this date may be considered 2021-22 expenses and paid from your 2021-22 budget.
SERVICE PROVIDER/CONTRACTOR INVOICES	31-Mar-21	Remind contractors engaged by your department, if allowed by contract, to invoice for work completed up to March 31, 2021. These invoices should be emailed to accountspayable@concordia.ab.ca.
SUPPLIER INVOICES	31-Mar-21	Finalize all orders in early March to ensure that goods and invoices are received by March 31, 2021. Allow extra time as directed by your vendor. Back orders and delays in shipping could result in the expense being paid from your 2021-22 budget. Supplier invoices should be emailed to accountspayable@concordia.ab.ca.
PURCHASE ORDERS	31-Mar-21	The Purchase Order and Goods Receipt modules in Chrome River are live. At March 31st please ensure that you have entered Goods Receipts for all goods received by March 31st. We will be using these modules to book yearend accruals for items received but not yet invoiced.
PAYMENT/PROTOCOL REQUEST FORMS	31-Mar-21	Email forms for payments relating to work done in 2020-21 to accountspayable@concordia.ab.ca by March 31, 2021. Any requests relating to fiscal year 2021-22 will be held and entered in April. These forms can only be used when all conditions are met.

If you have any questions regarding these procedures please do not hesitate to contact accountspayable@concordia.ab.ca.

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Accounts Payable 2020-21 Yearend!