Accounts Payable Announcements

As we head to the end of Fiscal Year 2020 (FY20), your cooperation is requested to ensure that transactions are properly recorded in the correct accounting period. As you know, this is our first year closing with a new financial system as well as operating in a challenging teleworking environment so adherence to prescribed procedures is very important. Our ability to make exceptions for deadlines may be limited. A brief description of the critical deadlines to assist you with your department’s year end closing process follows. Please circulate this memo to all personnel involved in the fiscal and business operations of your department. Note: all dates are in 2020.

Requisitions for FY20 Expenditures

Procurement requisitions where the expenditure must be recorded in FY20 totaling less than $200,000 must be received in Strategic Sourcing and Acquisition Services (SSAS) by Friday, May 15th. Requisitions totaling more than $200,000 must be received in SSAS by Friday, April 24th. Please insure that any back-up documentation necessary is included as requisitions will be held until documentation is received. Adherence to these deadlines will help us to insure that a purchase order is generated by June 30th. Requisitions submitted after May 15th will need to be processed as a FY21 requisition following the procedures below for ‘Requisitions for FY21 Expenditures’.

Procurements involving complicated proposal submissions from vendors, contracts, lengthy evaluations, or those requiring outside agency approval have a long lead-time. Requisitions of this type should be submitted IMMEDIATELY. It is recommended that you consult with SSAS as soon as your needs are identified. 

Requisitions for FY21 Expenditures

The July 2020 period will be opened in Quantum so you can begin creating requisitions for FY21. PLEASE NOTE: On the requisition in the Note to Buyer section, indicate that this is a FY21 requirement. For non-project requisitions, the budget date and requested delivery date must be 7/1/2020. For project requisitions, the expenditure item date, budget date and requested delivery date must be 7/1/2020. The expenditure item and budget date fields default to the current date in Quantum so they must be manually changed. The requested delivery date field defaults 30 days from requisition creation date in Quantum, so it must be manually changed. 

FY20 to FY21 Purchase Order (PO) Rollover

With Quantum, there is no PO rollover function like there was with eUMB so there is no block out period. The encumbrance balances for POs will appear until the PO is fully invoiced or the PO is closed. 

FY20 Accounts Payable

For expenses to appear in FY20, the following deadlines must be adhered to by invoice type and payment method:

NONPO Supplier Registrations- new suppliers that are needed for FY20 invoices must be submitted with complete and accurate information by Tuesday, June 2^nd.

NONPO invoices with “State Payment” payment method- the invoice must be initiated and approved by the department and supporting documentation must be emailed to rs-bf-nonpo@umaryland.edu via Accellion by Tuesday, June 16^th.

NONPO invoices with “General Working Fund” payment method- the invoice must be initiated and approved by the department and supporting documentation emailed to rs-bf-nonpo@umaryland.edu via Accellion by Tuesday, June 16^th.

PO invoices- items must be received in Quantum and invoices must be emailed to AP_FINSVC@umaryland.edu by Friday, June 12^th.

PO or NONPO invoices with “STO WIRE” payment method- the wire requests and documentation should be sent to the appropriate email inbox (NONPO or PO) by Friday, June 12th.  The subject of the email should be “WIRE REQUEST”.

NONPO invoices created before June 1^st but not approved by the department by June 16^th will be cancelled/deleted by Financial Services. NONPO invoices created after May 31^st that are not submitted and department approved by the deadline will be swept to July.

For State and Auxiliary account combos where the invoice is submitted and/or received after the deadline but the services or materials were delivered in FY20, an accrual journal entry (source MDB) will be created by Financial Services in Quantum Financials charging an expense in FY20. The amount will be posted (and viewable in Quantum Analytics) by Friday, July 10^th. The accrual will be reversed in July when the actual invoices will be processed. 

FY20 Travel Expenses

For travel expenses to appear in FY20, the following deadlines must be adhered to by traveler type:

Employee travel expense eforms- must have supervisor and fiscal approvals by Tuesday, June 2^nd so that they can be loaded in the last payroll of FY20 (PP#20-26).

Non-employee travel expense eforms- must have fiscal approvals by Friday, June 5^th so they can be processed in Quantum Payables. 

FY20 VISA Procurement Card (PCard) Expenses

The expenses for the PCard transactions appearing on the June 25^th billing statements (and all prior billing periods) must be submitted and approved on expense reports by Tuesday, June 30^th. The accrual for all Pcard transactions that have been loaded to Quantum Expenses but not submitted and approved on an expense report will be as of June 30^th and will be posted to the cardholder’s default account combo. This is different than eUMB. If you need to reflect Pcard expenses in FY20 in projects or account combos other than the default account combo, you must submit expense reports in June and not wait until July.

If you want to view your Pcard statement between June 26^th and June 30^th, you can access your statement through your US Bank Online Access account. An email was sent by Regina Spencer on Friday, March 27^th to cardholders and reviewers with specific instructions on how to access your Pcard account on-line. 

FY20 Debit Memos (DMs)

The last day for DMs to be submitted in Quantum for approval is Thursday, June 25^th. DMs created before June 1^st but not approved by the department by June 25^th will be cancelled/deleted by Financial Services. DMs created after May 31^st that are not submitted and department approved by the June 25^th will be swept to July.

Between Friday, June 26^th and Thursday, July 9^th a journal entry (JE) for June may be requested for transfers between non-project account combos only.  This accrual option is not available for projects. First, create a DM for the transfer in July, then request an accrual JE via email to Sheri Myers (smyers@umaryland.edu) to record the DM transfer in June.  Include the DM invoice number in the email request. The accrual JE will be reversed in July.

In Quantum, payroll cost share funding is no longer done via allocation. It is done when the payroll is processed based on the project set up mapping. Therefore, redistributions should no longer be needed. Please take immediate action to ensure that the mapping for the funding of your cost share is correct. 

FY20 RSTARS Transfers

Requests for RSTARS transfers that are charged to a Project must be made by Monday, June 29^th.

RSTARS transfers that are charged to a GL account Combo must be made by Thursday, July 9^th. 

FY20 Payroll

A separate memo will be distributed by FS-Payroll with the details regarding the year end payroll processes. Please note, pay period #21-01 which includes earnings from FY20 will be viewable in Quantum Analytics on Friday, July 10^th. 

FY20 Deposits

In order for cash receipts to be posted against revenue or receivables for FY20, the deposit must be submitted to the Cashier’s office (HS/HSL building) by 1pm on Tuesday, June 30^th.

If we are still in the teleworking phase at the end of June, you can request bank deposit slips to be mailed to your home or office where you can drive to a Bank of America branch to make the deposit. Please email studentaccountmgmt@umaryland.edu by Monday, June 15^th to request deposit slips. All deposits and supporting documentation must be emailed by 1pm on Tuesday, June 30^th to studentaccountmgmt@umaryland.edu so the deposit can be recorded in Touchnet and interfaced to Quantum in FY20. 

Fiscal Year Close

The general ledger will be closed for FY20 on Wednesday, July 29^th. Final closing balances can be viewed in Quantum Analytics as of Thursday, July 30^th. 

If you have questions concerning these submission dates, please feel free to contact the appropriate person listed below:

Summary Schedule of FY20 Year-End Deadlines

Quantum Financials Year-End Deadlines