Fiscal Close - Transaction Services (AP)

Following Anthony Grono’s recent communication regarding the FY25 year-end close, we are providing key deadlines and guidance to ensure accurate and timely processing of payments.

Key FY25 Deadlines

Fiscal Year-End Guidance
Spending Prudence
Please avoid last-minute, non-essential purchases. Responsible year-end spending supports affordability for students and strengthens our financial position for the year ahead.

Cutoff Guidance
Goods delivered and services received on or before June 30, 2025, are required to be charged to FY25 budgets. Goods delivered and services received on or after July 1, 2025, are required to be charged to the FY26 budget.

Invoice Submission

• Submit all FY25 vendor invoices by July 22, 2025.
• If invoices are pending, contact vendors immediately.   

System-Specific Instructions
FINPAY
Invoices from vendors not attached to purchase orders and payments to independent contractors:

• Submit FY25 related invoices as soon as possible but no later than July 22, 2025.
• Select “FY25” in the invoice detail section when requesting payments after June 30, 2025 related to goods deliver or services rendered prior to June 30, 2025.

Contact: Accounts Payable - [email protected] | 718-817-4950 ext. 2

FINBUY
Invoices from vendors with an existing purchase order:

• Submit FY25 requisitions to Procurement Operations by 5pm on June 16, 2025.
• Catalog orders submitted June 25–30 will be held (not approved or sent to suppliers) and processed on July 1. The period between will be used by Procurement Operations and Finance to process all FY25 purchase orders properly.
• Enter all vendor invoices for goods delivered or services rendered prior to June 30, 2025 as soon as possible but no later than July 22, 2025.
• Further detail to follow from Procurement Operations.

Contact: Strategic Sourcing – [email protected] | 718-817-4950 ext. 3

FINTREX
JPM Chase Cards

• June statement closes July 1, 2025.
• Submit June Concur reports no later than July 11, 2025 for supervisor approval.
• Ensure all FY25 charges in your Concur queue have been submitted by July 11, 2025.
• Do not submit July reports until the first week of August.

Out-of-Pocket Reimbursements

• Typically out-of-pocket reimbursement requests must be submitted within 60 days of travel to be eligible for reimbursement.  At year end we are requesting any out of pocket expenses related to FY25 be submitted no later than July 11, 2025.
• Travel expenses must be recorded in the fiscal year travel occurred.
• Ensure you are registered to receive your payment via ACH.

 Contact: Strategic Sourcing – [email protected] | 718-817-4950 ext. 3
                  Concur Champion – [email protected] | 718-817-4950 ext. 4

DIGITAL PAYMENTS
Reimbursements of expenses to students or guests of Fordham:

• The final processing of digital payments through JPM Chase platform for FY25 will be July 9, 2025.  Please ensure only FY25 transactions are submitted prior to that date.
• FY26 reimbursements should begin July 11, 2025

Contact: Accounts Payable - [email protected] | 718-817-4950 ext. 2

Additional Resources
ACCRUALS
If you cannot obtain an invoice by July 22 for goods or services received prior to June 30, email [email protected] with the following:

• Description of item
• Amount and date received
• Banner account number
• Supporting documentation

TRAINING AND GUIDANCE
FINBUY - FINPAY Training
My Fordham Finance Tab

Thank you for your continued cooperation and dedication to fiscal responsibility. Our team remains at your service and would be pleased to meet with you in your department to discuss year-end processes or review available payment methods at your convenience.

Diana Ferrante CPA
Assistant Controller
Director of Transaction Services