Pre-Entry of FY24 POs
The pre-entry of FY24 BobcatBuy (BCB) requisitions can now be submitted. Please use the table below to determine when it is appropriate to pre-enter a FY24 requisition and how to utilize the BCB Accounting Date field. All other POs for current fiscal year should use the current date only. FY24 POs will be released and sent to suppliers on July 1, 2023.
|
|
Good/Services RECEIVED by June 30 (FY23 PO) |
Good/Services NOT RECEIVED by June 30 (FY24 PO) |
|
BCB req Accounting Date |
Current Date |
7/1/2023 |
|
Fiscal Year Expense |
FY23 |
FY24 |
Please be aware of the following guidance in determining if it is a FY23 or FY24 PO:
If the PO is for goods or services NOT RECEIVED by June 30:
- You should use FY24 PO and the expense MUST go into the next fiscal year
- If payment is required before 6/30/23, but you will not receive the goods or services until after June 30, 2023, you should use a FY23 PO with the Prepaid Object Code #150010. This is available for use in BCB for items over $10,000. If the prepaid Object Code is used, the true Object Code MUST be in the description so that it is available to move the costs to an expense code once the goods or services have been received.
If Goods or Services are RECEIVED BY June 30, this should be on a FY23 PO and the expense must process and be paid in the current fiscal year. If the invoice is dated after our AP close for June (July 30), the expense will accrue as an FY23 expense.
Blanket POs:
FY23 blanket POs are for goods and services received through June 30, 2023. You should establish new FY24 blanket PO’s for goods to be received after June 30. After the close of each fiscal year, all blanket POs are closed out automatically. For FY23, blanket POs will be closed by 7/31/23.
Service Agreement POs:
POs on the Services Agreement form will not close at year end. There is no need to recreate the PO’s for services for the new fiscal year, as the PO can continue to be used through the duration of the contract. If you have a service agreement purchase order in BobcatBUY (BCB) with an end date of 6/30/23, you can submit a Change Order Request in BCB to extend the PO end date and add the funds needed for payment through FY24.
Contract Extensions:
To guarantee completion by year-end, please submit contract extension requests for contracts expiring 6/30/23 to Contract Services by 5/12/23.
Questions? Contact Finance Customer Care at financecustomercare@ohio.edu