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Critical Deadlines for Fiscal Year-End 2020-2021

Submit purchase requisitions (PR)

The last day to submit approved online PRs to Purchasing Services is Thursday, March 4, 2021 for March-ending grants or contracts and Tuesday, April 6, 2021 for fiscal year-end 2020-21. Purchasing Services is then responsible for converting it into a purchase order for the 2020-2021 budget year.

Note: All approved outstanding PR encumbrances as of April 30, 2021 will be carried forward into 2020-21.

The 2020-21 budgets are available for PR entry starting April 1, 2021. Regardless of the fiscal year used on a PR, goods and services delivered on or before Friday, April 30, 2021 will be charged to the 2020-21 budget year.

Request to close purchase orders (PO)

The last day to submit a request to close an existing PO or a PO line is Wednesday, March 10, 2021 for March-ending grants or contracts and Thursday, April 8, 2021 for fiscal year-end 2020-21.

All PO encumbrances remaining outstanding as of April 30, 2021 will be carried forward into 2020-21. For clarity, a complete PO is one that has been fully received and invoices processed.

For assistance, please contact Danny Greenfield, manager, Purchasing Services at danny.greenfield@ryerson.ca or 416-979-5000, ext. 554276.

Submit invoices, cheque requisitions, expense and reimbursement claims

Financial Services must be in receipt of approved invoices, cheque requisitions and paper expense reimbursement claims (for students and part-time faculty and staff) by Friday, March 12, 2021 for March-ending grants or contracts and by Wednesday, April 14, 2021 for fiscal year-end 2020-21.

Please ensure that all accountable advances for completed travel/activity are cleared and that the applicable original expense receipts have been submitted to Financial Services.

Submit and approve iExpense (reimbursement) claims for travel, business meal, professional development and other expenses

Please ensure you have submitted all approved online expense claims by Wednesday, March 24, 2021 for March-ending grants or contracts and by Wednesday April 21, 2021 for fiscal year-end 2020-21.

Note: Please ensure that all travel advances for trips taken are cleared, expenses claimed and receipts submitted. Faculty and staff reimbursements processed through iExpense are typically paid within five business days after all approvals are received.

As instructed on the iExpense Bar Code page, electronic receipts must be submitted with your expense claim. The most effective way to submit receipts is via the “Email Receipts” link that becomes available once your expense claim is complete. Customarily, original receipts are required for processing reimbursements, however, you are not currently required to provide them until the university reopens—please be prepared to submit all original receipts at a later time. For more information, please review our temporary amendments to financial processes during the COVID-19 pandemic.

Submit receivable billings

The last day to submit receivable (external) billings is Wednesday, March 24, 2021 for March-ending grants or contracts and by Thursday, April 22, 2021 for fiscal year-end 2020-21.

Submit journal entries and budget transfers

The last day to submit a request for a budget transfer or expense adjustment to your Financial Services advisor is Wednesday, March 24, 2021 for March-ending grants or contracts and Thursday, April 22, 2021 for fiscal year-end 2020-21. Please review your departmental reports and raise all issues relating to over expenditures, budget transfers, incorrect allocations, etc. with your financial advisor so that any necessary corrections can be made before year-end.

Submit request for new cost centres

The last day to submit a request for a new cost centre setup is Wednesday March 24, 2021 for March-ending grants or contracts and Thursday, April 22, 2021 for fiscal year-end 2020-21. After this date, no new cost centres will be created until after May 10, 2021.

Approve invoices in your MarkView inbox

Please review and approve invoices in your MarkView inbox on a regular basis. The last day to approve invoices is Wednesday, March 31, 2021 for March-ending grants or contracts and Friday, April 30, 2021 for fiscal year-end 2020-21.

If there are invoices in your inbox that are in dispute or should not be charged to the 2020-21 budget year, please return the invoice to Payment Services using the MarkView workflow with an explanation and/or action to be taken.

Submit and approve P-Card transactions

Ryerson Purchasing Card (P-Card) transactions may now include combined purchases and travel expenses. Ryerson’s P-Card is fully integrated with RUFIS (iExpense) and therefore all transactions must be processed by the cardholder and approved by the deadlines.

The last day to approve P-Card transactions is Wednesday, March 31, 2021 for March-ending grants or contracts and Friday, April 30, 2021 for fiscal year-end 2020-21. If cardholders do not clear transactions by the deadline, expenses will not be reflected in the appropriate reporting period and cost centers.

Note the use of default accounts is no longer in place and therefore it is imperative that transactions are processed on a timely basis in iExpense as noted above.

Endowment processing

As outlined in the Endowment Funds Policy, as of Friday, April 30, 2021 any unspent balance in an endowment-related expendable trust cost centre will be transferred to that endowment's related stabilization account.

Please ensure that all of your 2020-21 disbursements are processed prior to respective deadlines. The 2020-21 endowment income distribution (spend rate) is 3.5% and will be made in June 2021.

Payroll transactions

For specific deadline dates, please review the pay schedules and deadlines page on the Human Resources website.

Questions?

Contact your financial advisor or Ravi Haldavnekar, Controller, Director Financial Accounting & Reporting at rhaldavn@ryerson.ca or 416-979-5000, ext. 555019.