As fiscal year end (June 30th of each year) approaches, there are special dates circulated by Purchasing and Payable Accounting. Please contact these offices for relevant purchase order and check run cutoffs.
Depending on your cost center number, several different things may happen to your balance at year end:
The balances will be reviewed and rolled forward as deemed appropriate.
The balance will be carried forward to the new fiscal year in GL account number 599800.
The transactions roll forward to the new fiscal year.