Closing Out the Books for Fiscal Year 2019

Publication Date
6/21/2019

The 2019 fiscal year-end closing process is underway. See Fiscal Year-End 2019 Closing Schedule for details.

2019 turning to 2020
 

Members of VPF’s Financial Accounting and Reporting (FAR) and Budget and Financial Analysis (B&FA) teams hosted Year-End Closing Workshops this month. If you were unable to attend this workshop, online training is available in Atlas. A PDF of the workshop is also available online, along with the accompanying Quick Reference Guide.
 
Please contact VPF Financial Accounting and Reporting at vpf-cost-objects@mit.edu if you have any questions about the year-end closing process.

Purchase Order (PO) and Requisition Closeouts

As the end of the fiscal year approaches, please note that you can complete purchase order closeouts by using the Close Purchase Orders Form. Go to the B2P homepage, and under MIT Buying and Paying Resources, choose “Close PO” to access the form.

If you need an SAP PO closed, please email VPF closeouts and include the purchase order number(s). SAP will update the status of all POs that were closed out in the system before 10:30 pm that day.
 
If you have questions or comments regarding this tool, please email pocloseout@mit.edu.