News

Today is yearend and the deadline for all 2021-2022 expenses.  

For an expense to be posted to the current budget year the goods must be received or the services rendered by March 31, 2022.   

Below are some guidelines and tips to address common issues we have been seeing:

Expenses:

All Expense Claims must include both the purchase details (receipt/invoice showing what was purchased) and proof of payment (support showing the expense was paid and how it was paid).  If the proof of payment is not clearly indicated on the receipt or invoice then additional support of a credit card or bank statement is required.

Employees should be checking their claim status in Chrome River and are responsible to follow up with their approvers to ensure claims are fully approved by the March 31, 2022 deadline.

Invoices:

Vendor invoices must comply with Concordia invoice guidelines and must clearly list the goods purchased or the details and dates of the services rendered.

Invalid invoices will be returned to the department or the vendor depending on how the invoice was submitted to Accounts Payable.

Mastercard Expense Forms (MEF):

All MEF claims must be prepared in accordance with the guidelines emailed to all cardholders on Monday, March 28^th.

All charges on the MEF must be supported by invoices or receipts that clearly show the purchase details (what was purchased).  A Proof of Payment receipt on its own is not acceptable support for these charges.

For MEF charges not on your March 27, 2022 MC statement please refer to the guidelines emailed on March 28, 2022 for this procedure.

Purchase Orders:

All creators of open Purchase Orders as at March 31, 2022 will be provided with these details and will be asked to declare what goods were received or services completed by March 31, 2022.    An accrual will be posted for these items.

Approvers:

Approvers are responsible to review all backing submitted for each expenditure that they are approving to ensure compliant with Concordia policy and procedures. 

You must only approve expense claims and invoices once you are satisfied that all conditions noted above and in the other Accounts Payable yearend postings have been met.

Please monitor your Chrome River Inbox and approve payables as assigned to you remembering that you may not be the final step in the approval routing and that additional payables may be assigned to you.

All invoices and expense claims in Chrome River must be approved by the end of the day today, March 31, 2022 so that these expenses can be imported into our Financial Software and posted to your General Ledger accounts.

If you have any questions regarding these procedures or any yearend AP procedures previously posted please do not hesitate to contact Accounts Payable at accountspayable@concordia.ab.ca.

Thank you for your assistance in getting another yearend closed!