As we wrap up fiscal year 2025, a heartfelt thank you goes out to everyone for your dedication and teamwork in driving us across the finish line. Your shared efforts made a real impact.

As we take a moment to reset and look ahead to fiscal year 2026, this is also a great time to review expenditures and confirm that all items have posted to the general ledger as expected. Ensuring accuracy now sets us up for a smooth start to the new fiscal year.

Accruals

By this time all invoices associated with fiscal year end accruals should have posted. Please review the m-Fin Financial Detail Report to confirm the actual invoice/Travel/p-card charge has hit the general ledger for any award where invoices initially posted as accrual. These are identifiable as ACCAPMKT (Marketplace) or ACCAESP (Expense System Procurement Card/Concur) in the Journal ID column of the financial detail.  There should be 3 postings associated with an accrual:

1. Period 996 Charge that books the expense as fiscal year 25
2. 07/01 Period 1 Credit Offset
3. Actual Charge (if the actual charge has not yet cleared, please review Marketplace or Concur; additional action may be required to process the pending expense.)
   

Please note, on as-incurred awards (cost reimbursable, letter of credit) we capture accrual charged in June invoices and the 07/01 accrual offset credit in July invoices. In the event the actual invoice does not post to the general ledger, the sponsor will have been invoiced net $0.

Final Invoices

Are your awards on-track to meet final invoice deadlines?  Many awards have budget periods ending 06/30/2025.  Review of expenditures ensures all anticipated charges have posted to the general ledger. If any delayed expenses are identified that will impact our ability to meet contractual final invoice deadline, coordinate with the sponsor as early as possible.

For more information from Post-Award Administration, click here.