Tagged: Finance

Cost Center Managers and Service Centers have a responsibility to ensure the appropriate spend category is used on all transactions.

Pay special care to non-catalog requests with items with a useful life of one or more years that are over the greater than $5,000 threshold and ensure an appropriate trackable spend category is used; otherwise, the transaction will not route for registration. The "Spend Categories – FDM Values" report can be run with a filter on "Spend Category is Trackable" to identify trackable spend categories.

The Workday report "OSU Plan vs Actuals by Cost Center" will be decommissioned on October 9.

Individuals should utilize the report "Plan vs Actuals by Plan Worktag" as the alternative.  If you have saved filters for "OSU Plan vs Actuals by Cost Center" they should be moved to the replacement report prior to October 9. 

The downloadable FDM worktag reference guide has been updated to include information on “Driver” and “Related” worktags and how they function. It is highly recommended for related worktags to only be used if that is going to be the associated worktag value 100% of the time.

As of Tuesday, August 8, the Cost Center Manager role is no longer paired with the Cost Center Fund Transfer Approver role. The Cost Center Director role will continue to be paired with the Cost Center Fund Transfer Approver role.   

Starting in September (during August month-end close), initiators and approvers of journals and fund transfers that are in a "created" or "in progress" status on business day 4 will see new Workday alerts/notifications. It is important to take immediate action on these items prior to 4 p.m. on business day 5 to avoid these entries being canceled or moved to the next period.

Last updated 10/13/23

In order to support training for the new Internal Order Billing process go-live in October, the Controller's Office will be slightly delaying the closure of internal purchase orders during August close and September close. Internal purchase orders for August will be closed on Tuesday, September 5 (as opposed to 8/31), and internal purchase orders for September will be closed on Monday, October 2 (as opposed to 9/29). This will ensure there is adequate test data in the training tenant.

Equity Balances by Balancing/Carry Forward Worktags - Summary 

The "Equity Balances by Balancing/Carry Forward Worktags - Summary" has been enhanced to provide additional insight, and align with other reports in the Equity Balances Suite of reports. 

This is a reminder that the new unit monthly reconciliation checklist is available for download and is intended to be a guide to assist units in the development of the processes necessary to ensure an effective internal control environment.

As part of the new internal order billing process which goes live on October 1, 2023, units will see purchase order encumbrance amounts liquidate based on the internally billed/supplier invoice amounts. Therefore, the new process will accurately reflect the balances on financial and grants reporting. Once we are transitioned to the new process, the Controller’s office will no longer do a mass monthly close of internal purchase orders.