A requisition with a PO Date prior to 06/30 will post to the current fiscal year in FIS. A requisition with a PO Date equal to or greater than 07/01 will post to the next fiscal year.

The Next Fiscal Year checkbox, if enabled will default the Requested PO Date to the first day of the month of the next fiscal year.

Note: If the new fiscal year is not created in FIS, any requisition with a Requested PO Date of 07/01 or greater will fail conversion with an error message that the account code does not exist.**

When submitted to the Requisition approval path, the requisition will go through the normal approval process.  In the last step of the process, there are two actions that can be completed depending on when the user would like the Purchase Order to be created:

Submit to FIS – if the new fiscal year is configured in FIS the PO will be created in the new year.  If the new fiscal year is not configured in FIS, the PO will error into the Failed Conversion queue with an error message that the account code does not exist.

Send to Pending Conversion – use this action button to collect requisitions that should not be submitted to FIS until the start of the new fiscal year.  At the start of the new fiscal year, the approval path user has an action to Submit as PO all requisitions that were being held in the queue until the start of the new fiscal year.

**Creating a New Fiscal Year in FIS Fund Accounting

Setting up a New Fiscal Year is a two step process: 

                 FA > Budgeting > Directories > Year Assignment

           2. Run the Set Up New Year process  

                 FA > Budgeting > Periodic Functions > Set Up New Year

 For additional information, please refer to the following Knowledge Base article:

 https://help.csiu.org/portal/en/kb/articles/how-to-set-up-a-new-fiscal-year