Disbursements Year-End Processing Cut-Off Dates
Disbursements FY2023 Year-End Processing Cut-Off Dates
Friday, December 8th, 5:00 pm
- Final day to request Final Closing of Purchase Orders and Requests to correct and reverse receipts
Monday, December 11, 5:00 pm
- Purchase order invoices to be processed
- Foreign Currency Payments to be processed
Saturday December 30, approved by 4:00 pm
- Non-PO payment requests submitted/ approved in Penn Marketplace
The dates listed above are the year-end processing cut-off dates for the Disbursements Office. In order to ensure that your requests are processed before the end of the Calendar year we are requesting you submit all forms by the dates listed. Requests submitted after these dates may still be processed before the end of the year however due to the increased volume of requests we receive during this time we cannot guarantee they will be processed.
Disbursements will be closed for the Winter Break (Dec 25 – Jan 1).
If you have an urgent matter you can email reneenow@upenn.edu & smithlis@upenn.edu for assistance.
1099 Manual Process for Payments Made Outside of BEN Financials for 2023
Below is the procedure for gathering 1099 information for individuals who are paid more than $600 via Petty Cash, Gift Cards, etc.
- Collect W9’s for participants who will meet the minimum of $600 requiring a 1099
- Store W9’s in a secure location until the end of the calendar year
- Keep a running spreadsheet throughout the year keeping track of which participants/ individuals will meet the $600 threshold for payments.
- Spreadsheet can be found on Ben Helps/Ben Helps Request Forms/1099 Manual Process for Payments Made Outside of Ben Financials: https://benhelps.upenn.edu/support/catalog/items
- Email spreadsheet and W9’s (only for participants who require a 1099) via Secure Share to reneenow@upenn.edu by January 4, 2024