Closing Purchase Orders
POs are closed by Business Services on a monthly basis to help better manage open encumbrances displayed in WISDM, reduce the need for manual requests for closure, and to relieve the buildup of POs to be closed at fiscal year end. POs that meet the following criteria will be closed every month:
Monthly PO Auto-Closing Criteria
|Orders with a PO End Date||
Automatically close 90 days after the end date listed on the purchase order.
|Specific Orders||Automatically close 90 days after the last payment if*:
Excluded from monthly close process. Department must submit an encumbrance management form at the end of the project.
Note: POs for grant sub-agreements will be closed once RSP has approved the encumbrance management form that the Dean’s office has submitted to Purchasing.
Orders that do not fit the above monthly closing criteria can be closed via an approved Encumbrance and PO Management form submitted from your Dean’s office to Purchasing Services.
How Does This Affect Campus?
- The PO Close Process runs on a monthly basis according to the established close criteria listed above and reduces the need to request a PO close.
- Dean's Offices and Departments will NOT need to complete the PO and Encumbrance Management form for their POs to be closed according to these criteria, this will happen automatically when Business Services runs the close process monthly.
- Dean's Offices and Departments will only need to complete the PO and Encumbrance Management form to close POs when they do not meet the criteria.
- Invoices arriving for payment after a PO is closed will be paid as a Direct Payment referencing the PO number in the Description column. This means that inquiries in WISDM for invoices against the PO number will NOT show the direct payment. However, queries in WISDM looking for the PO number in the Description field will show the payment. No one search method for an individual PO will capture both payments. However, both payments will show up if you are viewing a summary report for an entire department or project, or if searching for all payments made from a specific vendor.
*At fiscal year end, a special close for specific orders takes place that will not use the 90 day activity criteria, meaning any specific PO that is at least 95% liquidated and has a balance less than $1000 will be closed.