A new report group, Financial Transactions Awaiting Action, has been released. This report includes three different reports that provide a list and the status of journal, accounting adjustment, and asset transactions that are awaiting an approval or to-do step. To run this report group, users can go to the "Schedule a Report" task and search for "Financial Transactions Awaiting Action." Once the prompts are entered and the report group runs, all reports will be available in one Excel spreadsheet.
As of Friday, December 6 , Workday validations will be placed in various spend business processes to ensure the cost of sales expenditure treatment worktag can only be utilized by approved university earnings operations (Funds FD120, FD121, FD122 and FD200). In addition, users will no longer be able to add ET101 to costing allocations, one-time payments, or period activity pay.
As a reminder, use of the ET101 expenditure treatment drives the transaction accounting to the cost of sales ledger account (61020).
ET101 plus the appropriate earnings fund value and an eligible spend category value should be used to designate cost of sales. Eligible spend categories are those included in the services, supplies, or fuel and fuel additives hierarchies. Manual journals should use the cost of sales ledger account 61020 and an eligible spend category. Please refer to the university earnings operation policy for additional guidance and the full definition of cost of sales.
The Cost of Sales Spend Category (SC10258) will be inactivated for future use, as it does not meet the definition of spend category. ET101 plus the appropriate earnings fund value and an eligible spend category within the services, supplies, or fuel and fuel additives hierarchies should be used to designate cost of sales.
The "Financial Balances Summarization with flexible selectable columns" Tableau report has been enhanced with an additional tab for "Flexible columns Financial Balances Summary Yearly Trending."
In the new tab, users can view the actuals data by fiscal year. Users can now select columns and filters based on their needs and compare multiple years of financial data. The "Period" field is used to drive what month(s) populate the actuals results by fiscal year. A selection of a January period would compare yearly trends from the start of the fiscal year through January across fiscal years selected.
The Controller's Office recommends that units do a periodic review for worktags that are no longer being used and submit inactivation requests through an FDM Request in Workday. Prior to submitting worktag inactivation requests, please ensure that the Inactivation Checklist has been completed and the balances are clear.
Note that the checklist was recently updated to differentiate reports that should be run for FOD projects beginning with PJOSU. Contact CTL-FDMRequests@osu.edu with any questions.
Please remember to take prompt action on in-progress or created journals before business day 5 of month-end close. This will help limit the high volume of transactions that the Controller's Office needs to move and/or cancel to close the period. Workday notifications issue a reminder to take action on journals on business day 4, and reminder emails are sent to the Cost Center Manager distribution list on day 5 as an additional reminder. The FY25 period close calendar can be found on the Controller's website for download .
There is a Workday case open due to reported issues where journal EIBs are stuck in a queued status for a few hours before being created. If you notice that you are affected by this issue, please do not resubmit the EIB, as it will slow things down further and duplicate journals will be created that need to be cancelled. When this occurs, please be patient, the queued EIB journals eventually get created after a few hours and you will be able to submit them at that time.
To view the status of journal EIBs, navigate to your Workday inbox and click "Archive." The status of the journal EIB will show as "in progress" when it is processing, and "successfully completed" once the journal is created. Once created, you will be able to view the journal and submit it for approval.
Blank book code (activity for decentral journals) will be closing at 4 p.m. on Thursday, July 18 . Please remember to take timely action on journals. As this is second close for fiscal year 2024, any journals or transfers in "Created" and "In Progress" status after 4 p.m. on July 18 will be cancelled.
As of July 18 , an updated Workday notification has been created following the approval of a Subaward Supplier Contract or Subaward Supplier Contract Amendment. A notification of fully approved subaward supplier contract or supplier contract amendment goes to all the prior approvers in the workflow and the initiator. This creates consistency with other spend transactions.
A new spend category has been created for warranties (SC11019). Previously, users were selecting the insurance services spend category for warranty transactions, which were routing for special category approval with Risk Management. Warranties do not require special category approval from Risk; therefore, this new spend category should be utilized for these transactions.
