Transaction Processing – Closing Purchase Orders (POs)

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Policy Number:

UW-3034

Old Policy Number:

702

Responsible Office:

Accounting Services, Division of Business Services

University Policy

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

Contact:

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

Effective Date:

07-01-2007

Revised Dates:

07-01-2007

Retrieved:

12-02-2024 08:08:06