Period close is the process of closing financial accounting books each month. This period close timeline provides the period close timing process for FY26 and before. This updated period close timeline provides the new period close timing process for FY27 and after.
I want to...
- Access the detailed period close and department fiscal payroll processing calendar (FY27 - see changes below)
- Access the detailed period close and department fiscal payroll processing calendar (FY26)
What's Changing for FY27 Period Close?
There are several key changes to be aware of for the period close process, beginning with the July FY27 monthly close. These changes shorten the close cycle by 3 business days to align with best practices. It is important to note that activity must be submitted and fully approved by the deadlines specified in the close calendar to post to the month being closed.
Business Day 5: 4:30pm cutoff for Decentral Journals (Blank book); any journals in “created” or “in-progress” status for the month being closed will be mass canceled at this time. Initiators will receive a Workday notification if their journal is canceled and may copy and resubmit the journal for the next period, if appropriate. - previously the deadline was 4pm on Business Day 5 because in-progress journals were moved one-by-one to the next period.
Business Day 6: OSP Grants Sponsor Billing will occur (includes posted OSP grant activity through Business Day 5) - previously OSP grant billing occurred on Day 3; this change allows additional time for OSP compliance review and will result in greater accuracy for sponsor billing.
Business Day 9: 5pm Final Close for OSUP, MCPA, OSUHP & OSUHS (All books) - previously was Day 12
Business Day 10: 5pm Final Close for University and Consolidated Financial Reporting (All books) - previously was Day 13
Previous Calendars
For questions regarding period close contact CTL-FDMRequests@osu.edu.