Accruals are end-of-period adjustments -- journal entries to record revenue or expense in the proper period. Certain FY 2022 expenses that have not been posted should be accrued to (expensed in) FY 2022 as they are part of FY 2022 business.

The accrual deadlines listed on this page apply to the automated accrual processes run by the Office of University Controller (OUC) and Procurement Service Center (PSC).
For information about the manual accrual process conducted by campus departments, contact your campus controller's office.

For FY 2022 Procurement Card expenses that have not posted (including submitted expense reports that haven't been fully approved by the posting and payment deadline), the automated accrual process applies when (1) the Procurement Card expense is in Concur - this typically takes at least two days from time of purchase - and (2) the expense transaction is dated June 30 or earlier. The automated accrual works like this:

SpeedType Accrual

• If assigned to an expense report and allocated to a SpeedType, accrual will be to the allocated SpeedType.
• If assigned to an expense report but not allocated to a SpeedType, accrual will be to the card’s default SpeedType.
• If not assigned to an expense report, accrual will be to the card’s default SpeedType.

The default SpeedType is shown in the Cardholder’s Profile in Concur. If you need to change the card’s default SpeedType, use the Cardholder Update form.

Account Accrual

• If system-assigned or otherwise assigned to an Expense Type, accrual will be to the defined Expense Type.
• If the Expense Type is Undefined, accrual will be to Account 552601 (Other Operating Supplies).

Accrual journals are created to account for expenses related to FY 2022 that will be posted in FY 2022. All automated accrual journals are dated June 30 but are run in July.

• ACCAPMKT (Accrual – Accounts Payable Marketplace). This is the accounts payable accrual of supplier invoices (PO/SPO invoices and Payment Vouchers) in the Marketplace. Invoice accruals will be posted on Monday, July 11, 2022, and you’ll see them on reports as of Tuesday, July 12, 2022.
• ACCESP (Accrual – Expense System Procurement Card). This is the accrual for Procurement Card expense reports and unassigned Procurement Card expenses in the Concur Expense System. Procurement Card accruals will be posted on Friday, July 8, 2022; you'll see them on reports as of Monday, July 11, 2022.

Accrual journals are reversed to avoid double-counting expenses. In other words: A journal entry was created to accrue an expense to FY 2022. When the normal transaction cycle completes, a system-generated entry will also record that expense in FY 2022.
All automated accruals are automatically reversed. All reversal journals are dated July 1 but are run later in July.
Reverse accrual journals have the same journal ID as the original accrual journals.