Accounts Payable Fiscal Year-End Procedures

Our objective is to match all the expenses occurring within a specific fiscal year to that fiscal year’s budget allocations. This means that all materials and services in excess of $500 that Moody Bible Institute is in possession of by June 30 should be submitted.

For Normal Processing

Please send approved invoices, check requests/requisitions or expense reimbursements to Accounts Payable by the 7th workday of July.

For Accrual Processing

Any invoice or known obligation should be listed on the Accrual Submission Form  and sent to the Controller’s Office to the attention of Tom Jones by the 7th workday of July.

If there is no invoice and the cost is unknown, please provide a reasonable estimate and indicate on the form that it is an estimate. In addition, include signed evidence that the materials or services were received. Items that were not received do not need to be included in this process.

NOTE: 
If an item has been submitted for accrual, it is still necessary to submit the invoice, check request or expense reimbursement for normal processing in July.

If you have questions about this process, please contact Tom Jones (x2084) or Marya Preston (x2233).

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