Year End Closing

Activity Date Description Finance Activity

Final SIS AP Feed to Workday

Final student refunds to be processed from AP system for fiscal year.

Student

Long Term Pool Deposit Trade cutoff

Last day to deposit funds in the Long Term Pool.

UVIMCO

Last SIS Refund Settlement

Last SIS Refund Checks/ACH payments processed for the fiscal year. This activity processes SIS data from the prior business day (SIS to Workday nighly interface feed). 

Student

Supplier Invoice Correction/Action

All Supplier Invoice Correction/Action web request forms must be received in Accounts Payable by this cutoff.

Procurement

Last day for Payroll Costing Allocation updates

Last day for Workday Payroll Costing Allocations additions/changes for MC Bi-weekly and UPG Bi-weekly (6/8-6/21) to be completed on 6/25 and ACD Bi-Weekly (6/16 - 6/29) to be completed on 7/2. There will not be time for PAAs related to these payroll runs in the current fiscal year as PAAs cut off on 6/20. Departments need to assure Costing Allocations are up to date and correct before payroll runs are completed. Users can resume entering PAAs on 7/3/25.
 

Payroll

Marketplace Orders

Last day for approving Requisitions. Requisitions must be through departmental approvals by this date.  Approved requisitions will be converted to POs by the end of the fiscal year. Requisition in progress at this date will be canceled by UVA Finance and will have to be re-entered in the next fiscal year.

Purchasing

Supplier Invoice Supporting Documentation Cutoff for Check Mailing

Any supporting documentation required to be mailed with a check must be received in Accounts Payable by this cutoff.  Checks will not be processed until this paperwork is received.

Procurement

Workday Non-Catalog Orders; Contracts Requests Requiring Signature (and PO Change Orders)

Last day to submit Procurement contracts requiring signature (includes Contract Requests Requiring Signature and Non-Catalog Orders that are contract requests) for FY25 contract execution.

Procurement

Final MC and UPG Bi-weekly complete

Final MC Bi-weekly and UPG Bi-weekly (6/8 - 6/21) completed. Payroll Accounting Adjustments related to the pay periods have to be entered in the new fiscal year as PAAs cut off on 6/20.  Users can resume entering PAAs on 7/3/25.
 

Payroll

Departmental Bank and Credit Card activity

Banking activity, including ACH and Wire payments, that post to Bank of America by 6/26 will be posted in FY25 if the Ad Hoc Bank Transaction is fully approved. Check deposits need to be deposited by EOD 6/25 to post by 6/26 with Bank of America. The BoA integrations run in the mornings for prior day activity so 06/26 activity will import into Workday on 06/27. To post in FY25, AHBTs need to be fully approved at/around 5:00pm on 06/27. All transactions not approved or recorded will be posted in FY26. Credit cards in particular have variability of when the bank actually credits the University account.
 

Depositor

Supplier Invoice Approval (Receiving)

All supplier invoice approvals (receiving) must be done by this date to be processed/accounted in this fiscal year.

Procurement

Last scheduled Accounting Journal integration

Last scheduled accounting journal integration

Accounting Journals

Final Settlement Run

Final settlement run will be completed by 11 AM.

Procurement

AR/Customer Accounts Cut-off. Last day to enter: - Customer Invoices, - Customer Invoice Adjustments, - Customer Payments and - Deposits, Customer Refunds.

Accounts Receivables (AR)

Last day to approve non-grant Payroll Accounting Adjustments

All unapproved PAAs will have to be cancelled by UVA Finance. Users can resume entering PAAs on 7/3/25.
 

Payroll

Accounting Journal and Accounting Adjustments cut-off except Grants which had an earlier cut-off date

All Accounting Journals and Adjustments must be approved through departmental and central workflows by 4 PM. Accounting Journals and Adjustments in progress will be canceled by Central Accounting at this time. Canceled accounting journals and adjustments can be resubmitted in the next fiscal year.  In some cases the Year-End Adjustments book code may be able to be utilized.

Accounting Adjustments

Monthly Close in Progress

See Period Close Events for detailed steps and timing. 

Management

Final UPG and ACD Monthly completed

Final UPG and ACD Monthly (5/25 - 6/24) completed. ACD monthly will post to 6/24/2025 (FY25). Payroll Accounting Adjustments related to the pay periods have to be entered in the new fiscal year as PAAs cut off on 6/20. Users can resume entering PAAs on 7/3/25.
 

Payroll

Run Depreciation

Central to close Assets period close activity group. Lisa Layne to run Depreciation for the month.

Capital Assets

Workday down for year-end processing

System will be down for year-end balancing and closing activities June 28 - June 30, 2025.  System will become available on July 1st except for Payroll Accounting Adjustments which become available on July 3, 2025.

Management

Last integration from Adaptive to Workday for FY2024-2025 budget

Daily integration from Adaptive to WD will be suspended after this day. Integration for FY2025-26 budget will resume in FY2025-26. Any FY2024-25 budget amendments and adjustments must be entered in Adaptive by 5pm to be reflected in Workday. 
 

SFS to resume student refund process

Student refund process resumes 7/1.

Student

First ACD Bi-weekly (6/16 - 6/29) payroll completed

ACD Bi-weekly (6/16 - 6/29) completed. Will post to 7/1/25 (FY26).  Users can resume entering PAAs related to this pay period on 7/3/25.
 

Payroll

Payroll Accounting Adjustments for new fiscal year are open

Users can resume entering PAAs to post to FY26.

 

Payroll

Year End Adjustments Book Code available 7/1-7/18

Department allowed to transfer funds in same fund/function to clear deficits. 

Year End Adjustments

Financial Reporting Adjustment

Financial Reporing to process Financial Reporting Adjustment entries. 

Financial Reporting Adjustment