Countdown to June 30th FY26 First Close!
2026 Financial Year End Deadlines and Activities
Fiscal Year-End Closing at the University of Maryland
Fiscal year-end closing is a critical process that ensures the University produces accurate, auditable financial statements for stakeholders such as leadership, boards, and government agencies. At the University of Maryland, College Park, the fiscal year runs from July 1 through June 30. During this time, the Financial Year-End Closing process includes extensive accounting activities such as adjusting entries, accruals, and validation of all assets and liabilities. This work ensures that income and expenses are recorded accurately within the correct fiscal period.
Timing
These deadlines occur throughout May, June, and July and are essential to completing the close on time.
To finalize the University’s financial records, the fiscal year-end close calendar establishes firm deadlines for:
Supplier invoices, Customer invoices, pCard transactions, Expense reports, Journal entries, Other financial documents and transactions.
Your Role
Your timely participation from the campus community is critical. Your adhering to published deadlines helps ensure compliance with reporting requirements and supports the successful completion of the fiscal year-end close.
Your tasks:
- Review close calendar and deadlines carefully
- Submit Financial Transactions in a timely manner
- Plan ahead to make sure that you allot ample time to complete tasks that precede the closing dates
Year End Calendar
In addition to the stated dates and activities below, we are providing you with downloadable calendars in MSExcel that provide you with additional information and filtering capabilities. The additional information includes major finance areas, detailed descriptions, contacts, and applicable reports. We may occasionally need to update the standard calendar, so it is recommended that you use that version for the most up-to-date deadlines.
FY2026 Year End Calendar (Downloadable)
FY26 Year End Calendar (Complete version)
*The campus calendar is subject to adjustment based on final dates from the State of Maryland.
Sub Area:
- FY26 Year End Calendar FDM/Fianancial Acct./Assets
- FY26 Year End Calendar Travel Card Services
- FY26 Year End Calendar Accounts Payable
- FY26 Year End Calendar Payroll
- FY26 Year End Calendar Procurement
- FY26 Year End Calendar SFSC/System Control/Customer Invoice
- FY26 Year End Calendar Reporting
- FY26 Year End Calendar Foundation UMCP
- FY26 Year End Calendar Foundation USM
Archive:
FY2025 Year End Calendar
Open a Case
Link to Ask a Question or Give Feedback
("In the *What is this case about? field, select Audit and Compliance, FYE Close from the dropdown menu.)
| Date | Time (EDT) | Focus |
|---|---|---|
| 4/23 | 12pm-1pm | FDM/Financial Acct./Assets/UMCP-Foundation |
| 4/30 | 12pm-1pm | AP/Procurement/UMCP-Foundation/TCS |
| 5/7 | 12pm-1pm | FDM/Financial Acct./Assets/Payroll |
| 5/14 | 12pm-1pm | AP/Procurement/TCS |
| 5/21 | 12pm-1pm | Payroll/SFSC/System Control/Customer Invoices/USM-Foundation |
| 5/28 | 12pm-1pm | FDM/Financial Acct./Assets/Payroll/Reporting |
| 6/4 | 12pm-1pm | AP/Procurement/TCS |
| 6/11 | 12p-1p | FDM/Financial Acct./Assets/Payroll/Reporting |
| 6/18 | 12pm-1pm | AP/Procurement/TCS |
| 6/25 | 12pm-1pm | FDM/Financial Acct./Assets |
| 7/2 | 12pm-1pm | AP/Procurement/TCS |
FY26 Year End Standard Table
| Date | Sub Area | Activity | Job Aids / Resources |
|---|---|---|---|
| 05/01/26 | Procurement | Requisitions->$200K, locks in the commitments to roll forward. Workday Contract Amendments to add money for payments in FY2026. |
Quick Start Guide: Requisitions for Goods and Services |
| 05/15/26 | Procurement | Delegated Procurements Requisitions -$25K-$200K, locks in commitments and encumbrances to roll forward.Does not mean payment will be made by June 30. Change Orders on Purchase Orders |
Quick Start Guide: Requisitions for Goods and Services |
| 05/15/26 | FDM/Fianancial Acct./Assets | Organizational Worktag Creation and Maintenance University Organization Structure | Navigate to support.umd.edu and enter the title or the related KB article ID into the search bar. Job Aid: Find and View Accounting Reports (KB0017637) Job Aid: USource: Create New, Modify, or Inactivate Driver Worktag (KB0020149) Job Aid: Gift: Create New, Modify, or Inactivate Driver Worktag (KB0020149) |
| 05/22/26 | UMCP Foundation | Please submit Disbursement Voucher Requests to UMCP Foundation, also create the Workday Customer Invoice (CIV) provide to Foundation | Job Aid: Create and Edit Customer Invoice |
| 05/22/26 | Travel & Card Services/Accounts Payable/Payroll | Guest Travel Adhoc payee set up | Navigate to the Maryland Procurement & AP dashboard in Workday. Under the Request a Payment tab, click the Non-Employee Traveler link on the Non-Employee Traveler section. |
| 05/29/26 | Payroll | Manual Overpayment Recovery | |
| 05/29/26 | Payroll | Employee Personal Check, Money Order or Cashier's Check due to Payroll Services | |
| 05/31/26 | SFSC/System Control/Customer Invoices | Customer Payments outstanding 60 days, the Controller's Office will record the revenue centrally. Departments can always reach out to us to claim those payments and at that point we will record a journal entry to transfer the (ONLY Applies to UMCP and UM Shady Grove) | |
| 06/01/26 | Accounts Payable | Guest Travel Reimbursements-Expense Report Fully Approved | |
| 06/01/26 | FDM/Fianancial Acct./Assets | Worktag Creation and Maintenance (Ledger Account, Revenue Category, Spend Category, Usource, Gift) *Note UMES create grant centrally in WD | Navigate to support.umd.edu and enter the title or the related KB article ID into the search bar. Job Aid: USource: Create New, Modify, or Inactivate Driver Worktag (KB0020149) Job Aid: Gift: Create New, Modify, or Inactivate Driver Worktag (KB0020151) |
| 06/01/26 | Procurement | Purchase Order Receipts Purchase Order Receipts corrections |
Navigate to support.umd.edu and enter the title or the related KB article ID into the search bar. Job Aid: Create a Receipt (KB0017298) Job Aid: Edit Receipt or Create Receipt Adjustment (KB0017297) |
| 06/01/26 | Accounts Payable | Non-Payroll Check Cancellations | Non-payroll checks returned for cancellation due in AP. |
| 06/01/26 | Accounts Payable | Supplier Invoices for payments against POs and Supplier Invoice Requests (SIRS) | Supplier invoices received/approved in WD and routed to AP by 6/3. Match Exceptions cleared by June 16. Job Aid: Create Supplier Invoice Request |
| 06/01/26 | Accounts Payable | Working Fund Disbursements for FY2026 *Excludes UMES | Dependent on campus departments return of receipts, etc. Checks disbursed/receipts received between 6/3 and 6/27 may be recorded as expenditures. |
| 06/01/26 | Accounts Payable | Non-Travel Employee Reimbursements last day for campus departments to submit and fully approve in Concur | |
| 06/10/26 | Travel & Card Services/Accounts Payable/Payroll | Travel Expense Reports-9/9.5 month and summer pay employees Non-Travel Employee Reimbursements for 9/9.5 month and summer pay employees |
|
| 06/25/26 | Accounts Payable | e-invoices for Shell Shop | |
| 06/15/26 | Accounts Payable | Match Exceptions | Quick Start Guide - Supplier Invoice Match Events |
| 06/17/26 | USM Foundation | Please submit Disbursement Voucher Requests to USM Foundation, also create the Workday Customer Invoice (CIV) provide to Foundation | Job Aid: Create and Edit Customer Invoice |
| 06/19/26 | SFSC/System Control/Customer Invoices | Customer Invoice Cutoff/Accounts Receivable *Note ONLY UMCP and UM Shady Grove | Job Aid: Create and Edit Customer Invoice |
| 06/19/26, , 5:00 PM | Travel & Card Services/Accounts Payable/Payroll | Purchasing Card Cut off for use | Quick Start Guide - Procurement Cards (P-Cards) in Workday |
| 06/23/26 | FDM/Fianancial Acct./Assets | Workday Enterprise Interface Builders (EIB's) (user friendly excel files for high volume journal uploads) | Job Aid: Populate EIB Spreadsheet for Accounting Journal |
| 06/23/26 | Payroll | Payroll Accounting Adjustments (PAA's) | Job Aid: Create Payroll Accounting Adjustments |
| 06/23/26 | Travel & Card Services/Accounts Payable/Payroll | Expense Reports-12 month employees - Fully Approved | |
| 06/23/26 | Payroll | Last day to approve all HR Transactions (includes one time standard pay) | Please review RPT810 PAYROLL Department Payroll Calculation Totals report in Workday. Corrections must be made by the close of business T |
| 06/25/26 | FDM/Fianancial Acct./Assets | Journal Vouchers (Journals, Transfers, PreWorkday Payroll, Student Reimbursement) | If there is a delay with the posting of the data, an announcement will appear on https://finance.umd.edu/accounting |
| 06/25/26 | Accounts Payable/Procurement | Last Day to process PO invoices and payments | |
| 06/25/26, , 4:00 pm | Accounts Payable | Supplier Invoices (SIRs) | |
| 06/25/26 | FDM/Fianancial Acct./Assets | Internal Service Deliveries (ISDs) all must be approved by this date to be included in FY26 | Job Aid: Create Journal [Note: See the "Related Articles" to navigate to the additional create journal job aids] |
| 06/25/26, , 4:00 PM | Procurement | Last Day to submit Requistitions Last Day for Shell Shop Orders (3:00 PM cutoff for approvals) Last day for Procurement to complete actions in Workday |
Quick Start Guide: Requisitions for Goods and Services |
| 06/26/26 | Travel & Card Services/Accounts Payable/Payroll | Purchasing Card re-activated | All P-card verifications/approvals for billing period ending 5/26/25 completed. |
| 06/29/26, 12:00 PM | Procurement | Close all Purchase Orders that are fully received and fully paid. | [Campus] Job Aid: Close a Purchase Order (or Close PO Lines) Central will use the "Mass Close Procurement Documents" task. |
| 06/29/26 | SFSC/System Control/Customer Invoices | Distribution of FY26 Credit Card Revenue | Job Aid: Create Internal Service Delivery |
| 06/29/26 | SFSC/System Control/Customer Invoices | Cash Receipts | Job Aid: Populate EIB Spreadsheet for Accounting Journal |
| 06/29/26 | FDM/Fianancial Acct./Assets | Auto cancellation of Journal Vouchers in progress | |
| 06/30/26 | Travel & Card Services/Accounts Payable/Payroll | Purchasing Card Verifications - Fully Approved | Job Aid: Verify Procurement Card Transactions Job Aid: Edit Procurement Card Verification (KB0017485) |
| 06/30/26 | Accounts Payable | Purchasing card Workday settlement | |
| 06/30/26 | FDM/Fianancial Acct./Assets | Recording of Asset Additions, Changes, and Disposals | Job Aids: Business Assets [Central] |
| 06/30/26 | Payroll | Accrual of salaried staff (6/28-6/30) | |
| 06/30/26 | Payroll | Last payroll posted in Workday | |
| 07/01/26 | FDM/Fianancial Acct./Assets | First Close - Allocations are run on all June transactions.Refer to separate dates for last posting of actual transations per area.Period 1 FY27 is open. | https://finance.umd.edu/period-month-end-closings |
| 07/02/26 | Reporting | June First Close Account Information Available | Period (Month End) Closings | Finance |
| 07/10/26 | FDM/Fianancial Acct./Assets | Summer Deferral and Prepaid Expense Journal | Period (Month End) Closings | Finance |
| 07/10/26 | Payroll | Accrual of hourly staff(6/14-6/27) | |
| 07/13/26 | FDM/Fianancial Acct./Assets | Year End Journal EIBs | If there is a delay with the posting of the data, an announcement will appear on https://finance.umd.edu/accounting |
| 07/15/26 | FDM/Fianancial Acct./Assets | Year End Journal Vouchers (Journals, Transfers, PreWorkday Payroll, Student Reimbursement) | |
| 07/15/26 | FDM/Fianancial Acct./Assets | Prepaid Expense and Deferral Journals must be submitted | |
| 07/17/26 | FDM/Fianancial Acct./Assets | Second Close | |
| 07/17/26 | FDM/Fianancial Acct./Assets | Auto cancellation of Journal Vouchers in progress | |
| July-August | Accounts Payable | Year-End Expenditure Accruals | |
| TBD | Travel & Card Services | 194 Integration files for JV | |
| 07/27/26 | FDM/Fianancial Acct./Assets | Final Close (Allocations are run and roll forward of balances) | |
| 07/28/26 | Reporting | June Final Close Account Information Available | |
| 08/03/26 | FDM/Fianancial Acct./Assets | July Month End Period Close FY27 | |
| 07/01/26, or later | Procurement | Procurement Activities Resume Requisition submissions for POs for new fiscal year Procurement processing POs in new fiscal year Contract Amendments and PO Change Orders for FY27 |