As Amazon Business functions slightly differently than other U Market punchouts, we wanted to make you aware of a few important details regarding Amazon and the University's fiscal year-end process.
WHAT IS FISCAL YEAR END?
- In late June, a part of the University's financial system (the purchasing, expenses, and accounts payables modules of EFS) will take a week-long pause from new entries to reconcile, close, and roll over some transactions from the past year to the new fiscal year.
WHY IS IT IMPORTANT?
- This means that new purchases—including those through U Market—are on hold during this time.
- Plan ahead! As purchase orders will not be sent to suppliers at this time—including Amazon— you should order your supplies in advance.
WHEN DOES THIS HAPPEN?
- From 1 p.m. on Tuesday, June 23, 2026 until 8 a.m. on Wednesday, July 1, 2026 purchase orders will not be sent to U Market suppliers.
- Also, check with your local finance team as they may have departmental deadlines that are earlier than the system's deadlines.
WHAT DOES THIS HAVE TO DO WITH AMAZON?
- Amazon and their suppliers cannot assure pricing and product availability during the EFS pause, therefore the Amazon Business punchout will be inaccessible during this time.
- Also, any existing Amazon carts not processed prior to the cutoff dates listed above will have problems processing.. Please process all your carts before fiscal year-end.
SO WHAT DO I DO?
Plan ahead. Plan ahead. PLAN AHEAD!
- If you anticipate needing supplies, please order them well in advance.
Order from U Market Stock.
- During normal business hours from June 23, 2026 to June 30, 2026 phone orders will be accepted for U Market Stock items only.
- To place a U Market Stock order, call the Customer Support Team at 612-624-4878.
- Departments must provide appropriate, active chart string information when ordering. These orders will not be billed until the new fiscal year.
Use a PCard with another supplier.
- Use the PCard up to the limits ($5,000 per order and $15,000 per month) with another supplier. All normal PCard rules and procedures apply.
- Put in an emergency order (last resort!).
- If you absolutely must purchase through Amazon during this time, contact [email protected].
QUESTIONS? NEED MORE INFORMATION?
- If you have any questions about the fiscal year-end process please reach out to [email protected].
- You can also find much more information about fiscal year-end on the Controller's website.
- Also, consider signing up for U Market's eNewsletter to receive important updates such as these!