Preparing for 2023/2024 fiscal year end

Thursday, February 22, 2024

In preparation for the fiscal year-end, please consider the following dates and procedures to ensure goods and services expenses are recorded, approved, and/or closed in the fiscal year.

Purchase requisitions

  • Submit requisitions as soon as possible: If you intend to post to the current 2023/24 fiscal year, especially for long lead time goods purchases. The Procurement team will do their best to issue a Purchase Orders prior to the fiscal year end. However, Procurement cannot guarantee a Purchase Order issuance, deliveries or payment for invoices before fiscal year end.
  • Review status of Requisitions and Purchase Orders: Leaving Requisitions and Purchase Orders in any status other than "issued" or "closed" may result in them being manually force-closed at current fiscal year end and not being posted to next fiscal year.

Requestors and Cost Centre Receivers

  • Submit or cancel receipts for goods and services in Workday: Requestors and Cost Centre Receivers have been asked to submit or cancel receipts for goods and services in Workday. A step-by-step guide can be found in the Knowledge Base. You can also reach out to your designated buyer for support​.
  • Closing Purchase Orders: As part of the year-end “clean-up” activities, Procurement will be reaching out to requestors and/or stakeholders to confirm the closing of all Purchase Orders issued prior to April 1, 2023. Any Purchase Order that should not be closed will be documented in Workday and will be excluded from this exercise. If no confirmation is received before March 15, Purchase Orders will be “force-closed” by March 27.
  • Set up your delegation in Workday: For Requestors, Cost Centre Receivers and Cost Centre/Worktag Managers, please set up your delegation in Workday before you go on leave.

Last week of fiscal year end:​ March 26-April 1, 2024

  • Refrain from creating new requisitions in Workday: Please refrain from creating new requisitions in Workday during March 28 and April 3 if possible. Workday will require the Requisition Date to be changed to April 1 for all requisitions submitted on or after March 28. 
  • Submit or cancel draft requisitions and receipts: Requestors have the option to submit or cancel “Draft” requisitions and receipts up until March 27, 5:00 pm. Any remaining requisitions and receipts still in “Draft” status will be cancelled on March 28. 
  • In progress requisitions and purchase orders: Requisitions and Purchase Orders with the status “In Progress” should be approved by the Cost Centre Manager/Program Manager/Grant Manager in Workday by March 27, 5:00 pm.
  • Status of requisition: Detailed status of the requisition can be found in the Process History tab of a Purchase Requisition in Workday and Buyers or Procurement Officers may follow up with Requestors to expedite such approvals.