Year End – Procurement, Accounts Payable and PCard Deadlines
UBC’s fiscal year end is March 31, but the deadlines for some financial activities are as early as December.
If your work involves acquiring and/or paying for goods and services, or using a PCard, please familiarize yourself with the following dates for the 2019/2020 fiscal year. Note that staff are always encouraged to submit materials as early as possible before each deadline, and that all information relating to upcoming deadlines is available on the Important Dates page.
CYE = Calendar Year End (December 24, 2019)
FYE = Fiscal Year End (March 31, 2020)
Procurement and Accounts Payable
|11-Dec-2019||Wed.||CYE Payments - all currencies and payment types||Transactions that need to be paid (not just posted) by CYE need to be received AP on this day. Please clearly write “Must be paid in 2019” on the invoice or requisition, otherwise processing/payment will happen on the normal timeline.|
|11-Dec-2019||Wed.||FYE Purchases that Require Tendering (>$75,000 CAD)||Last day to submit Purchase/Service Requisitions requiring tendering that need to be delivered and invoiced by Mar 31, 2020.|
|20-Dec-2019||Wed.||CYE Payments Issued||The final payment run of the calendar year will be executed and distributed on December 20 (for both US and Canadian payments).|
|15-Jan-2020||Wed.||FYE International Purchases that do not Require Tendering (<$75,000 CAD)||Last day to submit Purchase/Service Requisitions for international suppliers (including US) that do not require tendering, that need to be delivered and invoiced by Mar 31, 2020.|
|12-Feb-2020||Wed.||FYE Domestic Purchases that do not Require Tendering (<$75,000 CAD)||Last day to submit Purchase/Service Requisitions that do not require tendering, that need to be delivered and invoiced by Mar 31, 2020.|
|The 25th of each month, except December||3:30 p.m.||Monthly PCard Reconciliation Deadline||Financial Operations uses the 25th as the monthly reconciliation deadline for the PCard program.|
|20-Dec-2019||3:30 p.m.||December PCard Reconciliation Deadline||In December we use the reconciliation deadline of Dec 20 to accommodate the holiday campus closure.|
|TDB (March)||3:30 p.m.||March PCard Reconciliation Deadline||In March we run a second reconciliation deadline (after the 25th) to capture the end of the month for Year End purposes.|