Blanket POs
FY21 blanket POs are for goods and services received through June 30, 2021. At the end of each fiscal year all blanket POs are closed out automatically. For FY21, blanket POs will be closed on 7/23/21.
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 6/30/21 you can submit a Change Order Request in BCB to extend the PO end date and add the funds needed for payment through FY22.
Pre-Entry for FY22 POs
FY22 requisitions for POs can be submitted now and should use accounting date 7/1/21 in BCB. All other POs for current fiscal year should use the current date only. FY22 will be released and sent to suppliers on July 1, 2021. Please be aware of the following guidance in determining if it is a FY21 or FY22 PO:
If the PO is for goods or services NOT RECEIVED by June 30:
- You should use FY22 PO and the expense MUST go into the next fiscal year
- If payment is required before 6/30/21, but you will not receive the goods or services until after June 30, 2021, you should use a FY22 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 FY21 PO and the expense must /process and be paid in the current fiscal year if received in AP by 7/23/21 (see below). If it is a June 30 expense, paid after that date, the expense will accrue as an FY21 expense.
Paying Invoices on POs
Accounts Payable is open to pay invoices for FY21 until 7/23/21 by submitting invoices to accounts.payable@ohio.edu . Once the FY21 blanket POs are closed, the invoices will need to use a new PO to pay against, it can be the new FY22 blanket or it can be its own PO.
Contract Extensions
To guarantee completion by year-end, please submit contract extension requests for contracts expiring 6/30/21 to Contract Services by 6/11/21.
Questions? Contact Finance Customer Care at financecustomercare@ohio.edu .