What should I do if it’s getting close to the end of the fiscal year, and I have incurred expenses but not paid for them, or received a payment for services that will not occur until the new year?

What should I do if it’s getting close to the end of the fiscal year, and I have incurred expenses but not paid for them, or received a payment for services that will not occur until the new year?

If you have an approved purchase order dated in the current fiscal year but have not received an invoice or made payment, have your business officer send an e-mail to Russell Remington requesting that Accounting accrue the expected new year payment. Include all relevant info in the request.

If you have received a payment for services that will not occur until the new year, have your business officer send an e-mail to Russell Remington requesting that Accounting defer the new year payment received. Include all relevant info in the request.

Unit or Topic: 

Accounts Payable
General Accounting