NewsLink Articles
Equity $0 Balance Clean Up
A data clean up effort was conducted to eliminate $0 balances which were incorrectly rolling forward for worktag combinations in the "Equity Balances by Balancing/Carry Forward Worktags suite" of reporting.
Upon further investigation it was confirmed this was due to a conversion issue effective FY18. A correction was done in the system that will now significantly reduce this issue. There may still be some $0 balance lines that exist and that is due to non-conversion journals (entries processed by accounting or cost center accountants) that may have hit equity directly in the past. End users cannot post to equity directly in journals any longer and should work with the central accounting teams if they have any questions. Please note this clean up had no net effect on your current equity balances.
Journal Activity for this Project resulted in the following:
- Peoplesoft converted balances loaded as 47360: Net Transfer with an offset to 17000: Suspense in FY2017 – Do not use FY17 as a reporting period as full balance sheet reporting was not loaded here.
- Beginning Balance calculated in FY2018 to close 47360: Net Transfer to 30000: Equity. – This does not impact your FY18 balances and is the first year of true balances.
- Journal correction reversing 30000: Equity and 17000: Suspense in 2018 – This entry netted out the original conversion to 30000: Equity that posted in FY18 and the clean-up entry on 17000: Suspense balance that rolled over from FY17.
Earnings Operations Reminder – Vendor’s License Requirements
This is a reminder for earnings operations that every location that is selling a taxable product/service to external customers is required to have its own separate vendor's license. This only applies if you are making taxable sales to external customers. If only non-taxable items/services are sold, no vendor’s license is required. The Tax Office needs to review any vendor license registrations before submission, to make sure it is attached to our master vendor license (and thereby ensure the activity is included in our consolidated sales tax returns). Please send to salestax@osu.edu.
FY24 Year-end Checklist for Finance and Supply Chain Activities
A downloadable Year-end Checklist for Finance and Supply Chain activities is available under the "I want to..." heading found on the Business and Finance website's Controller page. The checklist includes important dates and action items for FY24 year-end.
Journal EIB Reminders
As a best practice, when using the Journal EIB process for multiple units on the same EIB, please create at least one journal for each college/unit with a separate header row and link the header key to all the lines. This practice avoids creation of large campus-wide approvals on the same entry which remain stuck in workflow due to send-backs. This allows the unit to approve only their entry. As an added reminder, the journal EIB can be used for cost share type activities which are not revenue generating. Departments must use the appropriate process for internal sales transactions, which is the new internal order billing process. Journals and transfers are not to be used for earnings/internal billing activity.
FY25 Blanket Purchase Order Entry
Please do not begin entering FY25 blanket purchase orders until Monday, April 15. More information and detailed instructions on creating FY25 blanket purchase orders will be posted in a future NewsLink article. As a reminder, blanket POs should only be used on a fiscal year basis for the fiscal year it is intended for (unless otherwise noted with a service end date).
New Buckeye Buy suppliers as of March 11
New to Marketplace Quotes (in the supplier website section of Buckeye Buy) is Neverman Construction (disaster recovery), Eagle Exhibit LLC (trade and product show displays), Hamburg Fireworks Display Inc., Landscape Forms Inc. (outdoor furniture), Sauder Manufacturing Co. (residential furniture), Autumn Theodore Photography LLC, and Emma Parker Photography LLC.
New hosted catalogs (under the Search catalog link in Buckeye Buy) is Harrell’s LLC (landscape and horticultural products).
New Internal supplier hosted catalogs includes Genomics and Microbiology Solutions (bioinformatics and genomic sequencing services) and University Catering (for recurring events only).
Recent and Upcoming Reporting Enhancements as of March 11
See the full post for more details about recent and upcoming reporting changes, including reports where users will need to update saved filters.
Find Supplier Invoice Request Summary and Detail Report Enhancements:
Enhancements have been made to both the "Find Supplier Invoice Request (SIR) Summary - OSU" and "Find Supplier Invoice Request (SIR) Detail - OSU" reports.
Coming Soon: Business Processes Awaiting Action Dashboard Changes:
To improve performance on the "Business Processes Awaiting Action" dashboard, changes will be made to the Requisition report on the dashboard.
Coming Soon: Saved Filters on Find Supplier Invoice Reporting:
On March 18, changes will be made to prompts on the "Find Supplier Invoice Summary - OSU" and "Find Supplier Invoice Details - OSU" reports.
Coming Soon: Business Process Approval Times - Supplier Invoice Reporting:
To coincide with changes to workflow on supplier invoices, the Grants Operation Center Rep approval time will be added to both the "Business Approval Times - Supplier Invoice Summary" and "Business Process Approval Times - Supplier Invoice Detail" reports during the week of March 18.
Requisition Navigation Redirection
Changes are being made to help users leverage the Requisition Worklet to manage their requisitioning process.
Users of the "Create Requisitions" task will now see a "Try new Experience" button. This will redirect them to use the Requisition Worklet. Additionally, for Requisition Worklet users, on the top of the page to the left of the shopping cart, a new question mark icon will be available that when clicked will provide basics on how to use the tool. Stay tuned for more detailed information regarding the buying experience.
Non-PO Internal Order Billing Workflow Changes for Grants
Beginning Friday, March 15, all non-PO internal supplier invoice lines over $5,000 tied to the OSP Grant Hierarchy will route to the Grants Shared Service Center for review prior to posting. This review is to help ensure that grants are charged only approved internal billing rates, charges are in compliance with the grant agreement, and have appropriate supporting documentation. If there are no published rates and/or the rates do not match what is itemized on the requisition/quote or invoice that supports billing to OSP grants, the Grants Shared Service Center will be sending back the transactions.
"Financial Balances Summarization with Flexible Selectable Columns" Tableau Report
A new Tableau report is now available to end users in "Enterprise" folder. This report allows users to customize worktags for finance data. Users can select worktags from the column headings and they will remain displayed on the page. Users can select up to 10 custom columns and those can be filtered from the details pane. The report displays beginning balance, activity, and ending balances for the worktag combinations selected.
The report can be found using the path Finance and Supply Chain Domain > Financial Accounting/General Ledger > Financial Balances Summarization with Flexible Selectable Columns. For those with access, the Tableau link is https://dataviz.rae.osu.edu/#/workbooks/9485/views.