End of Year Reminders 04.28.22

As we approach the end of the fiscal year, we wanted to share some reminders to help make sure your end of year procurements run smoothly. 

  1. Fiscal Year End Key Dates: There are several key dates that you should be aware of so that your shopping carts and payments are processed in a prompt fashion.  You can find the full details of these dates on the procurement website at: https://purchasing.psu.edu/features/fiscal-year-end-message-key-dates  
  2. Renewals: If you have a contract renewal approaching that you are going to exercise in the new year and, if you have not already done so, contact procurement as soon as possible to decide the steps that you need to take to make that contract renewal successful.  You will need to enter a shopping cart with the renewal information attached so that the review process can be started. 
  3. Payments: This is a general reminder but can have impacts especially at fiscal year-end.  If a supplier wishes to be paid via ACH payment instead of check, they are primarily responsible for entering their banking details into the supplier portal.  If the supplier has not entered their banking details via the portal, we are not able to pay via ACH (even if the ACH details are on the invoice). 
  4. Shopping Cart Issues: To help alleviate shopping cart issues (rejections, approval delays, etc.) we recommend reviewing past articles on the shopping cart approval process and proper shopping cart construction.   
  5. Staff Turnover: The last year has seen a lot of staffing turnover in many departments throughout the University.  With the end of year coming please consider incorporating our offboarding recommendations into your overall offboarding activities.  Incorporating these recommendations will help to alleviate downstream issues with POs, Goods Confirmations, and changes. 
  6. Contract Reviews: If your purchase has a contract associated with it, please be aware that you should plan ahead for the review process.  End-of-year is one of the busiest times for our contracts team and we are currently experiencing delays in getting contracts processed.  Please review the Contract Information page on our website for information on how to successfully route your contract. 
  7. Goods Confirmations: Please make sure that you have completed goods confirmations for your purchase orders as soon as the goods or services are received.  This is especially important to be timely so that invoices can be processed as expeditiously as possible.  Please see our past article on Goods Confirmation for more information.