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Seton Hall University
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Fiscal Year 2025 Closing Timelines and Procedures

Procurement

May 27 - Purchase Orders dated from July 1, 2024 thru December 31,2024, for Fund 100 will be closed. Please contact Procurement before May 27, 2025 if any are to remain open.

May 27 - First day to begin processing fiscal year 2026 Purchase Requisitions. Purchase requests for goods and services to be received after June 30th are to be processed using the new Unimarket system by those divisions that have received training and have been granted access to the system (training has begun and will continue throughout June). Purchase Requisitions entered in Unimarket will default to fiscal year 2026.

June 12 - All remaining fiscal year 2025 Purchase Orders for Fund 100 will be closed. Procurement will close all fund 100 purchase orders from January 1, 2025 through June 30, 2025, where goods and services will be be received before June 30th. Please contact Procurement before June 12, 2025, if goods and services are expected by June 30, 2025, and the Purchase Order needs to remain open.  All fiscal year 2025 operating fund Purchase Orders will be closed on June 23, 2025.  Fiscal year 2026 purchase requests are to be made utilizing the new Unimarket platform. For Purchase Orders that span fiscal years 2025 and 2026, the original fiscal year 2025 Purchase Order will be closed and a new Purchase Order will be created by Procurement in Unimarket.  The previous Purchase Order number will be referenced on the new Purchase Order in Unimarket.

Accounts Payable

June 23 – Last day to submit invoices, check requisitions, T&E forms, and wire requests to Accounts Payable
This is the last day to submit vendor invoices, check requisitions, T&E reimbursement forms, and wire requests to Accounts Payable for processing as a fiscal year 2025 expense. Where applicable, fiscal year 2025 purchase orders should be referenced.  Thereafter invoices will be accrued for expense recognition in fiscal year 2025 as determined by the Controller’s Office.

Compensation and Payroll

June 12 - Compensation changes to biweekly payroll with check date of 6/27/2025 (BW13) due to Human Resources
This is the last day to submit Salary Change/Payment Authorization forms and electronic personnel action forms (ePAFs) to Human Resources for compensation changes and terminations to be included in the June 27th (BW13) biweekly payroll.

June 12 - Compensation changes to June monthly payroll (MN6) due to Human Resources
This is the last day to submit Salary Change/Payment Authorization forms and electronic personnel action forms (ePAFs) to Human Resources for compensation changes or terminations to be included in the June 28th monthly (MN6) payroll.

June 27 - Compensation changes to biweekly payroll with check date of 7/11/25 (BW14) due to Human Resources This is the last day to submit Salary Change/Payment Authorization forms and electronic personnel action forms (ePAFs) to Human Resources for compensation changes or terminations to be included in the July 11th biweekly (BW14) payroll.

Accounting

June 26 - IDTs and journal entry reclassification requests for fiscal year 2025 due to General Accounting
This is the last day to submit Inter-Departmental transfers and request for JE reclassifications to General Accounting for posting to fiscal year 2025.  Please send requests for reclassifications to [email protected] in General Accounting.

July 1 – Salary reclassifications to fiscal year 2025 due to Budget & Grants Accounting Offices
This is the last day to submit requests to correct fiscal year 2025 miscoding of salary activity. Adjustments to labor distributions impacting fund 100 should be to [email protected].  Adjustments to labor distributions impacting restricted funds (funds beginning with 2, 5 or 6) along with salary reclassifications between operating budgets and restricted funds should be submitted to [email protected].

July 3 – Requests to accrue invoices to fiscal 2025 that are greater than $10,000 due at Controller’s Office.
This is the last day to request an accrual be made to fiscal year 2025 for goods or services received prior to June 30, 2025. Requests should only be made for invoices expected to be $10,000 or greater. Invoices received in Accounts Payable from July 1st until the end of the audit will be reviewed to determine if they pertain to fiscal year 2025. If so, they will be accrued into fiscal year 2025 by the Controller’s Office.  Please send requests for accruals to [email protected] in the Controller’s Office.

P- Card

June 26 - accounting for P-card activity.
This is the last day to review and designate accounting for Bank of America P-card activity appearing on the June 20, 2025, Bank of America statement.  Any activity that is not reviewed will be posted to each cardholder’s default Banner index.

July 10 – P-cards
This is the last day to submit June 20th Bank of America credit card statements and Transaction Allocation Reports to Card Compliance at [email protected].

July P-card activity - Staples and Amazon P-card purchases to be eliminated. All purchases from Staples and Amazon should be completed through the new Unimarket system. Starting with the July/August credit card cycle, these purchses will no longer be permitted on credit cards.

Bursar

June 26 – Bursar - deposits and pre-processed credit card activity.
Please bring all outstanding deposits and pre-processed credit card activity to the Bursar’s office by Thursday, June 26th at noon.

Budget

July 7 – FY26 Fund 100 operating budgets will be posted to Banner.
Fiscal year 2026 non-personnel operating budgets  will be posted in Banner. Selected ‘pooled’ personnel budgets will initially be established at the appropriate VP level and be further distributed by September 1st. Please send any budget questions to [email protected] in the Budget Office.

July 7 - Unimarket, including automatic budget checking, becomes operational University wide. Please contact [email protected] with questions,  or [email protected] to schedule Unimarket training.