702 Transaction Processing-Closing Purchase Orders (POs) Policy

UW-Madison Administrative Policy
Policy # 702

Effective Date: July 1, 2007
Last Updated: July 1, 2007

Policy Contact: Susie Maloney

Statement of Policy

POs will remain open the entire fiscal year.  POs will be closed or rolled over by Accounting Services at fiscal year-end.  PeopleSoft Shared Financial System (SFS) does not allow the re-opening of POs once closed.

Extenuating circumstances may occur during the year which will make closing a PO a necessity.  Other exceptions to closing POs at year end are grants or individual funding lines that are ending.  Accounting Services will close POs at the request of the Dean’s Office or Research and Sponsored Programs (RSP) only in these circumstances…

Related Procedure(s)

702-Transaction Processing–Closing Purchase Orders (POs)

Who should know this policy?

Deans, Directors, and staff who prepare requests to close purchase orders

Related Documents

Use the Encumbrance and Purchase Order Management form.