A suite of eight new reports specific to earnings operations are now live and available for use. Each new report is listed below along with a brief description. Stay tuned to NewsLink for more information regarding BuckeyeLearn courses demonstrating each new report which will be coming later this January.
Equity Balances for Earnings Operations: Unlike the standard "Equity Balances by Carryforward/Balancing Worktags" report, this version is organized to provide quick visibility into revenues subject to overhead, expenses marked as Cost of Sales, and overhead charges, followed by all other sources and uses along with pre-encumbrances, encumbrances, and ending equity. This structure makes the report particularly useful for reviewing overhead-related details and monitoring Cost of Sales in comparison to all other expenses for a given month or reporting period.
Variance Analysis for Earnings Operations: This is an income statement report configured specifically for use by Earnings Operations. The report includes revenue and expense information compared with plan/forecast and includes a calculation for equity as a percent of operating expenses. Additionally, this report separates activity in Earnings Funds and the Capital Reserve Fund. This report can be used on a monthly basis to track plan versus actuals, as well as monitor balances for Capital Reserves and overall equity as a percentage of operating expense in support of Earnings Operations Policy.
Deposit/Cash Sale Reconciliation – OSU: This report is designed to assist departments in reconciling their monthly deposit activity. It is based on journal line data from the Cash Sale journal source and is organized by Accounting Date. The report can be ran on a monthly basis to see all Cash Sale deposit activity and reconcile deposits to your deposit records.
Nelnet/Credit Card Deposit Reconciliation – OSU: This report is designed to provide a high level view of credit card activity including revenue and fees. It provides General Ledger activity for comparison with data from Nelnet Commerce Manager and credit card terminals. The report is based on journal line data from the Ad Hoc Bank Transaction journal source, and leverages text in the journal memo to group transactions into various buckets for easier review. This report may be used on a monthly basis to compare Nelnet or Credit Card Terminal activity with the General Ledger.
Accounts Receivable Accounting Reconciliation – OSU: This report is designed to assist earnings operations with reconciling their Accounts Receivable Accounting entries. The report shows journal activity in Accounts Receivable, Allowance for Uncollectables, and Bad Debt Expense ledger accounts. The report can be used to reconcile balances with external system, as we all monitor Bad Debt and Allowance for Uncollectables.
Petty Cash and Change Fund Reconciliation – OSU: This report is designed to assist departments with reconciling their Petty Cash and Change Fund accounts. It is based on journal line data and automatically filters down to Ledger Accounts, Spend Categories and Revenue Categories associated with the management of Petty Cash and Change Funds. This report can be used in conjunction with departmental Petty Cash/Change Fund logs to ensure that all entries have been recorded accurately and timely.
Inventory and Cost of Sale Reconciliation – OSU: This report is designed to assist departments using third party/external systems to manage inventory with reconciling their third party system data with the General Ledger. It is based on journal line data for Inventory, Inventory Shrinkage, and Cost of Sales ledger accounts, and can be used to ensure that monthly adjustments are made to the GL as needed based on sales and other changes in inventory.
Sales Tax Reconciliation – OSU: This report is designed to help departments reconcile and prepare their monthly tax form submissions. The report groups date from Cash Sales, Customer Invoices, and Cost Center Journals where taxability can be tracked. When leveraged these fields field the report and then can be used to streamline completion of the monthly tax form, as well as confirm that all entries were completed correctly or adjusted in a timely manner.