Concur Year-End Information

  • September 4th, 2018
  • in News

With year-end deadlines approaching, we would like to emphasize the importance of placing transactions for FY18 and FY19 on separate Concur Expense Reports as well as carefully entering the invoice date on your Concur Invoice Payment Requests as the procedures for Prepaid and Accrued Expenses have been updated for the upcoming fiscal year end.

Prepaid expenses (items paid for in the current year but the goods or services will not be received until the next fiscal year):  Account code 107101 Prepaid Expense will no longer be available in Concur.  Be sure to use your normal expense account code in Concur for these items.  Please note in Details/Comments in Concur, in your report header in Concur and/or on your backup documentation the appropriate year for expenditure (for example, FY18 or FY19).  AP/P-Card Services will apply a fiscal year indicator based on this information.  All transactions on the report will be classified as either FY18 or FY19, so it is very important that you not commingle FY18 and FY19 charges on one report.  If this occurs, AP/P-Card Services will return the FY19 transactions to you to be included on a separate report.  Financial Accounting will run reports weekly to move prepaid expenses to the prepaid account code for the current year and reverse in the new year.

Accrued expenses (expenses incurred in the current year but not paid until the next fiscal year):  Be sure to carefully enter the invoice date in Concur.  The invoice date for payment requests should reflect when the goods were received or the services were performed.  This may not coincide with the actual invoice date on the invoice.  Please note in Details/Comments in Concur, in your report header in Concur and/or on your backup documentation the appropriate year for expenditure (for example, FY18 or FY19).  AP/P-Card Services will apply a fiscal year indicator based on this information.