Year End Closing Deadlines

Year End Closing Deadlines- FY26

Finance and Budgeting

FY2026: Year-End Finance Closing Deadlines – By Key Dates

As we approach the close of FY26, please review the key deadlines below. This will be the final year-end cycle in Banner, ahead of the Workday go-live in FY27.

To ensure a successful Workday cutover in June and meet our July 1st go-live date, we have established specific deadlines for this year's close out. While these dates in many cases represent our standard year-end closeout process, some items are new or have been accelerated to accommodate the final data migration. It is critical to plan your activities accordingly, as there will be limited exceptions for missed deadlines; adhering to these timelines is essential to maintaining the integrity of our data as we transition to the new system.

Please note that the deadline for all dates listed in this bulletin is 4:00 pm EST

Friday, May 1, 2026

  • Last day to contact Procurement Services for Sourcing Events (RFPs, bids, etc.)

Friday, May 22, 2026

  • Final deadline for:

    • Grant subrecipient requisitions
    • Supplier requests and registrations in eMerchant
    • Contract requests (Contractflow)

    • Banner chart of account requests (new or change) which includes: indexes, grants, organizations, and accounts

After this deadline:

       ○    New Grant Subrecipient contracts will be created centrally for Workday go live.
      ○    Contractflow will close; unapproved requests will be cancelled
      ○    New suppliers must be created in Workday (or both systems if urgent)
      ○    New chart of accounts values must be created in Workday (or both systems if urgent)

Tuesday, June 9, 2026

  • All FY26 labor redistributions must be fully approved and pending in the Budget Office’s queue by close of business Tuesday, June 9th for all biweekly pays through Friday, June 5th. After this date labor redistributions can only be processed through a JV form.

     

Tuesday, June 16, 2026

  • All Blanket Purchase Orders will be liquidated
    (Capital project-related orders will migrate to Workday)

 

Wednesday, June 17, 2026

  • Last day to submit expense reimbursement reports in Chrome River

  • Reports must be complete, accurate, and compliant with policy

  • Incomplete or non-compliant reports will be returned

 

Thursday, June 18, 2026

  • Final deadline to enter and fully approve requisitions in eMerchant

After this deadline:

  • eMerchant will be unavailable for new requisitions and purchase orders

  • Unapproved requisitions will be cancelled

Monday, June 22, 2026

  • Final deadline to:

    • Complete receiving in eMerchant to ensure goods received or services provided by June 30, 2026 are charged to FY26. (See June 30, 2026 below for information regarding accruals after June 22, 2026)
    • Approve invoices for FY26 processing

    • Approve Chrome River expense reimbursement reports (department level)

Note:  Receiving must only be completed after goods are received or services are provided

 

Tuesday, June 23, 2026

  • Final deadline for:

    • Accounts Payable approval of expense reimbursement reports to be charged to FY26
    • Completion of chargeback services to be recorded in FY26 (This deadline is for the general campus community. A memo will be sent to the applicable Departments addressing the due dates for final FY26 billings.)

      • Media Services 

      • Follett Bookstore

      • Gourmet Dining 

      • Employee Recruitment Advertising

      • Mailroom Services

      • University centers/labs

      • Campus Center

      • Athletics

      • Public Safety

      • Facilities

         

  • 2:00 PM: Deadline to submit all FY26 cash/check deposits to the Bursar (Failure to meet the deposit deadline may result in revenue being recorded in FY27 instead of FY26)

 

Thursday, June 25, 2026

  • 4:00 PM: Deadline to enter and approve Gourmet Dining orders (For urgent orders during the close period, contact: Thorin Aiello at taiello@gourmetdiningllc.com)

 

Tuesday, June 30, 2026 (COB)

  • Deadline to:

    • Submit Invoices over $2,500 for goods or services received between June 23 and June 30 that were not processed in eMerchant by June 22 to General Accounting (general_accounting@njit.edu) for accrual review.
      • This is in addition to the standard submission to Accounts Payable
      • All invoices must still be submitted to apinvoices@njit.edu for processing

      • Sending the invoice to General Accounting is for accrual review only and does not guarantee accrual

Tuesday, July 7, 2026

  • Deadline to submit Accounts Receivable documentation to General Accounting (Departments are responsible for tracking all outstanding/unpaid invoices owed to the University as of Tuesday, June 30, 2026 and must e-mail a copy of the invoices to general_accounting@njit.edu. Grants and Contracts are excluded from this requirement)

Thursday, July 9, 2026

  • Deadline for all FY26 credit card reconciliation reports to be submitted and fully approved by departments in Chrome River. 

Friday, July 10, 2026 

  • Deadline for Accounts Payable review and approval of credit card reconciliation reports in Chrome River.

Note: Credit card expenses not reconciled in Chrome River by July 10, 2026 will remain charged to the cardholder’s home index and will require manual reallocation to the appropriate funding source.

Key Reminders

  • Open Purchase Order balances will roll into and impact FY27 budgets

  • Chrome River pre-approvals will not transfer to Workday

  • Expense reports not fully approved must be resubmitted in Workday