Wilkes University

Year-end Reminders from Accounts Payable

Wilkes University’s fiscal year ends on Sunday, May 31, 2020. In an effort to ensure all transactions are accounted for correctly, it is essential we adhere to the deadlines below.

Check requests and travel reimbursements | The last day to submit check requests and travel reimbursements, including grant funded expenses, for FY20 will be Friday, June 5.

Supplies and equipment received | Items expected to be charged to the 2020 budget year must be received by Sunday, May 31, 2020

Any item received on or after Monday, June 1, 2020 will be charged to the next fiscal year.
We understand that there may be an inevitable delay in some items due to COVID-19; however, charging items to the fiscal year in which they are received is required for accounting and audit purposes. All receiving documents (packing slips, purchase orders, etc.) and invoices in department possession must be forwarded to the Finance Office by Friday, June 5, 2020.

Services rendered | All services must be charged to the fiscal year in which they are performed, regardless of when paid. 

Future travel | Travel that will occur after June 1 must be charged to FY21, regardless of when paid.

New Chart of Accounts

We will transition from Chart W (current accounting system) to Chart X (new accounting system) on Monday,June 1.  This change will result in new FOAPALs (Fund-Organization-Account-Program-Activity-Location) for each division and department.

Beginning Monday, June 1, the Finance Office will be unable to accept purchase requisitions, check requests, cash receipt transmittals, PCARD coding or transfer requests with the old accounting FOAPALs.

If you have not yet received information regarding the new funds, organization or accounts, please contact accounting@wilkes.edu.

 


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