
Transaction Processing – Closing Purchase Orders (POs) Scope Applies to deans, directors, and staff who prepare requests to close purchase orders. Policy Policy Statement Purchase orders (POs) will remain open for the entire fiscal year. Purchase orders will be closed or rolled over by Accounting Services at fiscal year-end. The PeopleSoft Shared Financial System (SFS) does not allow the re-opening of POs once closed. Extenuating circumstances may occur during the year that will make closing a PO a necessity. Other exceptions to closing POs at year-end are grants or individual funding lines that are ending. Accounting Services will close POs at the request of the dean’s office or Research and Sponsored Programs (RSP) only in these circumstances… Policy Administration Approval Authority Assistant Vice Chancellor of Business Services and Controller Policy Manager Director of Disbursement Services Policy Contact Director of Financial Information Management -- Susie Maloney, susie.maloney@wisc.edu, (608) 890-3220 Policy History Effective Date 7-1-2007 Revised Dates 07-01-2007

Transaction Processing – Closing Purchase Orders (POs)

Scope

Applies to deans, directors, and staff who prepare requests to close purchase orders.

Policy

Policy Statement

Purchase orders (POs) will remain open for the entire fiscal year. Purchase orders will be closed or rolled over by Accounting Services at fiscal year-end. The PeopleSoft Shared Financial System (SFS) does not allow the re-opening of POs once closed.

Extenuating circumstances may occur during the year that will make closing a PO a necessity. Other exceptions to closing POs at year-end are grants or individual funding lines that are ending. Accounting Services will close POs at the request of the dean’s office or Research and Sponsored Programs (RSP) only in these circumstances…

Policy Administration

Approval Authority

Assistant Vice Chancellor of Business Services and Controller

Policy Manager

Director of Disbursement Services

Policy Contact

Director of Financial Information Management -- Susie Maloney, susie.maloney@wisc.edu, (608) 890-3220

Policy History

Effective Date: 7-1-2007
Revised Dates: 07-01-2007