As we head to the end of Fiscal Year 2021 (FY21), your cooperation is requested to ensure that transactions are properly recorded in the correct accounting period. As you know, this is our second year closing with a new financial system and we are still operating in a challenging teleworking environment so adherence to prescribed procedures is particularly important. Our ability to make exceptions for deadlines may be limited. A brief description of the critical deadlines to assist you with your department’s year end closing process follows. Please circulate this memo to all personnel involved in the fiscal and business operations of your department. Note: all dates are in 2021. 

FY21 Accounts Payable

For expenses to appear in FY21, the following deadlines must be adhered to by invoice type and/or payment method: 

NONPO Supplier Registrations- new suppliers that are needed for FY21 invoices must be submitted with complete and accurate information by Wednesday, June 2nd. 

NONPO invoices with “General Working Fund” payment method- the invoice must be initiated and approved by the department and supporting documentation emailed to rs-bf-nonpo@umaryland.edu via Accellion by Wednesday, June 16th. 

NONPO invoices with “State Payment” (Tango Card Inc.) payment method- the invoice must be initiated and approved by the department and supporting documentation must be emailed to rs-bf-nonpo@umaryland.edu via Accellion by Wednesday, June 16th. 

Gift Card System- the request and supporting documentation must be submitted by the department to the gift card system by Tuesday, June 15^th.

NONPO invoices created before June 1st but not approved by the department by June 16th will be cancelled/deleted by OOTC. NONPO invoices created after May 31st that are not submitted and department approved by the deadline will be swept to July and posted in FY22. 

For State and Auxiliary account combos where the invoice is submitted and/or received after the deadline but the services or materials were delivered in FY21, an accrual journal entry (source MDB) will be created by OOTC in Quantum Financials charging an expense in FY21. The amount will be posted (and viewable in Quantum Analytics) by Friday, July 9th. The accrual will be reversed in July when the actual invoices will be processed.

Visit https://www.umaryland.edu/financialservices/disbursements/workshops/ for a listing of workshops and job aids.  Our most recent workshop was held on April 22, 2021 for making payments to Research Study Participants. 

Making Payments to Research Study Participants - Q&A Session 

Attend this session to ask panelists a broad range of study participant payment questions, such as policy and procedure content, requesting checks, reconciliations, compliance, and other study participant payment related topics.

Attendees are encouraged to bring questions or can submit questions to LynellGriffin@umaryland.edu prior to the event.

Individuals may register for both sessions. 

Date:  Thursday, June 10, 2021
Time:  2:00 – 3:00

Register Here