Accounts Payable 2016-17 YearendPosted on: Feb 27, 2017
Just a reminder to everyone that our fiscal yearend of March 31, 2017 is fast approaching.
We request your assistance in finalizing all Accounts Payable transactions for the 2016-2017 fiscal yearend. In order for an expense to be posted to the current fiscal year the services must be rendered, goods received or travel completed by March 31, 2017. Please note that all services, purchases and travel after March 31, 2017 will be considered 2017-18 expenses.
2016-2017 Fiscal Yearend requirements and deadlines as outlined below:
Please place all required orders so that goods are received well before March 31, 2017. Suggested date to finalize all orders is March 15, 2017 but if more lead time is required by your vendor then please ensure their deadlines are met. Any delays in shipping or backorders could result in goods not being received by March 31st and expenses having to be paid from the next fiscal year.
All approved invoices, dated prior to April 1st, must be received by Accounts Payable, S208, by Friday, March 31, 2017. If invoices are not available please submit the completed PO, with your signature and notation of the date goods were received, to Accounts Payable, S208, by Friday, March 31, 2017. If any items are on backorder please ensure that this is clearly indicated on the Purchase Order.
Please remind all independent contractors (not employees) engaged by your department of our yearend. If allowed by their contract, contractors should be invoicing for work completed up to March 31, 2017.
Approved invoices must be received by Accounts Payable, S208, by Friday, March 31, 2017. Please ensure that the invoice clearly states the dates and details for work being billed.
All payments being requested by Cheque Requisition must have backing to support date and terms of payment. If payment for 2016-17 deposits or bookings are required prior to March 31, 2017 we will process but these will be treated as a prepaid expense at yearend.
Approved 2016-17 Cheque Requisitions with complete backing must be received by Accounts Payable, S208, by Friday, March 31, 2017.
The last day to submit receipts dated April 1, 2016 to March 31, 2017 for reimbursement is Friday, March 31, 2017. This is also the last day to submit a Travel Expense Claim for travel that was completed by March 31, 2017. If travel is not completed by March 31, 2017 then this will be a 2017-2018 expense.
Approved Expense Claims and Travel Expense Claims for the 2016-17 fiscal year must be received by Accounts Payable, S208, by Friday, March 31, 2017.
If you should have any difficulties meeting any of these deadlines, or have any questions regarding these procedures please do not hesitate to contact Darlene at extension #209 or email firstname.lastname@example.org.