Expenditure Commitments: Mass PO Closure Process

H&S Finance Colleagues,

 

Please forward the following to appropriate financial staff in your area.

 

In addition to the FUNDING commitment review we are asking you to complete this month (see email of November 13, 2020), we would also like to strongly encourage at this time a separate review of EXPENDITURE commitment data.  Whether you decide to partake in this review or not, a response is kindly requested by December 4.  If you would like to participate and feel you need more time, please let us know.

 

Many of you may have manually cleaned up some of your expenditure commitment data during year-end close by “finally closing” purchase orders one-at-a-time via the standard process defined here:   https://fingate.stanford.edu/purchasing-contracts/how-to/finally-close-purchase-order-po.  With thanks to English Department staff and to our very helpful colleagues in FMS, H&S has worked with FMS to identify the need for a “mass closure” of purchase orders that are no longer needed (and where the expenditure commitment data is therefore erroneous and/or confusing).  Cleaning up this data will make your management reporting throughout the year more accurate AND help with the coming year-end close process as well.

 

If you would like to participate in this one-time process (and we hope you will!), please:

  1. Run the OBI “Commitment Details” report shown here:
  2. Download the results from the “Purchase Orders” section of the report (either as Excel or CSV, whichever is easier for you):
  3. Remove from the list any purchase order commitments you would like to keep on the books; and
  4. Send your list of purchase orders to “finally close” to your liaison.

 

We will then work with FMS in the coming months to get the requested purchase orders closed and the related commitment data removed from reports.

 

As always, if you need assistance running OBI reports or producing the list of purchase orders to close, please contact your liaison.  Thanks for your help in keeping H&S expenditure commitment data clean and accurate!