As we approach the end of the fiscal year (FY), it is critical that all departments proactively manage their open purchase orders (POs). Closing POs ensures your financial records are accurate and your available funds are maximized for the upcoming year.
Why Closing POs Matters
Promptly closing POs once all invoices and receipts are processed is essential for your budget health:
- Fund Recovery: Open POs with remaining balances "tie up" money. Closing them releases these funds back into your carry-forward balance for the new FY
- Data Integrity: It helps identify unresolved lien issues or accounting discrepancies before the year-end cutoff
- System Efficiency: Reduces clutter in the Gateway system, making reporting faster and more accurate
Action Required: Departmental Responsibility
Department Requesters and Receivers have the authority and responsibility to close their respective POs. Please review your open POs today and close any that have been fully serviced and invoiced.
Upcoming Mass Closure Process
To expedite the year-end cleanup, the Gateway team will be performing several mass PO closures:
- Any PO that is confirmed as fully invoiced and fully received will be closed
- This automated process will clear out residual balances and help us flag any hidden lien issues that haven't been reported this year
If you have a PO that should remain open despite being fully invoiced (e.g., for ongoing warranty or multi-year tracking), please notify the Gateway team immediately by sending a service desk ticket to gatewayhelp@bfs.ucsb.edu.