Policy

Dates and deadlines for financial year end

Guidelines and deadlines for Financial Year End 2025-26

Updated on 15 July 2026

The 2025/26 financial year ends on 31 July.  The information below is provided to ensure all income and expenditure relating to financial year 2025/26 is accounted for correctly.  Please ensure this information is cascaded to the appropriate members of staff in your area, particularly those dealing with purchase order receipting and purchase card holders.
Although many of us are working on a hybrid basis and may be off campus over part of the year-end period, the year-end principles remain the same.  Our focus must be given to ensuring all transactions, tasks and housekeeping in OneUniversity are up to date for the end of the financial year.

During previous year-end audits, instances of purchase orders not being receipted by the year end were identified where the goods and services had been delivered/received by 31 July.   When followed up with Schools and Directorates, these instances were often as a result of annual leave of key staff over the year end.  Please ensure cover is in place when staff with key financial responsibilities are on leave over the year-end and that staff are appropriately trained and are clear on the year-end tasks and timelines. If in any doubt please contact Finance and we will be happy to advise.

Only goods and services received before the end of July can be accounted for in 2025/26.  We understand that some expenditure originally planned for the 2025/26 financial year may not be incurred by 31 July however it is essential that we record our income and expenditure correctly.  If we have not received the goods or service by 31 July, we cannot account for the cost in 2025/26.

Key dates and deadlines for the year-end

Deadline Category Notes
31 July Sales Invoices Please ensure all sales invoices are entered in OneUniversity by midday on 31 July.  This will give the afternoon for all approvals to take place, ensuring the income is posted in 2025/26. 
31 July Stock

Please complete a stock count at the end of the year for all material stocks, complete the Stock Record Form and return it to your Senior Finance Business Partner by 4 August.  Life Sciences Stores stock should be updated in OneUniversity.

Please liaise with the Financial Accounting team for further advice if you have significant stock levels. 
31 July Purchase Orders and Receipts

To ensure the expenditure is automatically accounted for in 2025/26 please ensure all purchase orders are receipted by 5pm for all goods and services received on or before 31 July.  Where the receipting is not done the cost will be accounted for in 2026/27. 

If you become aware of an order where the goods or services were received before the end of the financial year but the order was not receipted please contact your Senior Finance Business Partner to arrange a manual accrual.   Please also contact your Senior Finance Business Partner if you received an order in error and the goods/services were not received by 31 July.
31 July Staff Expenses Please ensure all expense claims are processed in OneUniversity and are approved and finalised by this date.  Any expense claims for costs relating to 2025/26 submitted or finalised after this date will be accounted for in 2026/27 and may be rejected by approvers.  Please ensure you share this message widely in your School or Directorate. 
31 July Purchase Card Expenditure All purchase card items should be coded and approved by this date.  Items not coded will be automatically accrued on the default code which would result in expenditure being incorrectly coded.
31 July My Tasks Please ensure you clear all Finance items in My Tasks in OneUniversity by 5pm.  Items not approved by this time will be accounted for in 2026/27.  Items should be scrutinised as normal.  If you have an item that cannot be approved by this date, eg if the code is incorrect and it should be rejected, please ensure you arrange a manual accrual with your Senior Finance Business Partner.
31 July Annual Leave recording in 1U Please remind all staff to ensure their annual leave is accurately recorded and approved in OneUniversity by this date.  Annual leave directly affects the staff costs we report in the financial statements and accurate recording of leave is essential for audit purposes. This was an area highlighted during previous year-end audits as a significant number of staff had not recorded their leave or their leave had not been approved.
3 August Student and External Expense Claims All student and external expense claims should be submitted to [email protected]  by this date.  Any submitted after this date will be accounted for in 2026/27.
3 August Invoices for Purchase Order Exceptions All PO exception invoices, including self-assessed, should be submitted in OneUniversity by this date.  Any submitted after this date will be accounted for in 2026/27. Please inform your Senior Finance Business Partner if a PO exception invoice for work done in 2025/26 has not been received by this date so an accrual can be made.
4 August Journal entries and internal recharges Please submit all journal entries relating to financial year 2025/26 by this date.  These documents will be posted by Finance by 6 August.
4 August Stock Deadline for receipt of Stock Record Forms.
5 August Review Please review your draft OneUniversity reports prior to final postings and accruals and notify your Senior Finance Business Partner of any adjustments or accruals required. 
7 August Final adjustments Deadline to notify your Senior Finance Business Partner of any final adjustments or missing income or expenditure accruals.
17 August Year-end reports All final adjustments will have been processed and you should review the financial position of your School or Directorate, supported by your Senior Finance Business Partner.  Please note that no further adjustments will be processed after this date unless this is agreed with the Financial Accounting team and there is a material impact on the University’s accounts.

Contact details

If you have any further questions about the year-end process, please contact your Senior Finance Business Partner or the central Financial Accounting team by email or Teams:

Faculty/Directorate Email address
Faculty of Arts and Social Sciences

[email protected] 

[email protected]
Faculty of Science Engineering and Business

[email protected]

[email protected]
Faculty of Health [email protected]
Faculty of Life Sciences [email protected]
Academic and Corporate Governance [email protected]
Estates and Campus Services [email protected]
External Relations [email protected]
Finance and Procurement [email protected]
Globalisation [email protected]
People [email protected]
Library Academic and Cultural Services [email protected]
Research and Innovation [email protected]
University Executive and Strategy Office [email protected]
Digital and Technology Services [email protected]
Financial Accounting team [email protected]

Downloads

Enquiries

Susan Young

Deputy Director of Finance

From Finance and Procurement
Corporate information category Finance