Year-End Accounting Procedures

As your fiscal year-end approaches, we would like to remind you about how to treat year-end transactions.


  • By July 14th, please submit all invoices to Accounting (via DocuSign) for goods that have been delivered or services that have been received by June 30th.
  • Accurately enter the invoice date on the Payment Request form.
  • If there is no invoice date, please follow these guidelines:
    • Purchase of materialsInvoice Date is the date the items arrived on campus.
    • Payments for services Invoice Date is the date the services were rendered.
    • Expense reports or reimbursementsInvoice Date is the date the expense was incurred. 
    • Services over $10,000 with service dates that span the year end are apportioned based on the dates of service.
  • Prepaid expenses over $10,000 will be accrued to a prepaid expense account.

Note: Please charge invoices to the most appropriate account and not simply to an account with a remaining budget.



  • Gifts must be submitted by June 30th to Advancement Services (Waller Hall, 1st Floor).
  • Gifts received on or after July 1st will be recorded in the new year.
  • Submit June receipts separately from July receipts (including credit card transactions).
  • Notify Accounting of revenue you expect to receive after June 30th for services performed before June 30th. This allows us to recognize the revenue in the year it was earned.



  • Hourly staff and students – please complete and submit timecards promptly for the pay period spanning the year end, June 30.



  • We recommend completing purchases sufficiently in advance for charges to be processed by June 30th since transactions do not always post on the day they are processed. 



  • By July 14th, please submit JEs for corrections or interdepartmental charges.
  • Transaction date is the effective date and not the date the form is completed or submitted.


REMINDER: You can quickly and easily check budget-to-actual numbers by logging into Colleague Self-Service through the My Willamette portal. 

Thank you for your assistance in making our fiscal year-end closing an accurate and efficient process!

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