Year End Accounts Payable Accruals

If you received goods or services in FY23 but did not send the invoice to accounts payable by the July 21, 2023 deadline, an accounts payable accrual JE may be necessary to accurately reflect the expense in FY23. Finance will review invoices exceeding $10,000 to determine if a payable journal is necessary. Finance will calculate the amount of expense that belongs in each fiscal year and prepare a JE to either move the entire invoice or split the invoice between fiscal years by moving expense out of FY24 into FY23. The calculated value to be moved to FY23 must be greater than $10,000 for Finance to create a JE for the payable.

Please follow up with your suppliers/payees who have not sent an invoice for goods or services received in FY23. If you miss the July 21^st deadline or haven’t received an invoice for FY23 goods or services, please email finance@ohio.edu if the calculated amount is greater than $10,000.

If you have any questions about this process, please contact Kris Sano, sanok@ohio.edu.