Main navigation

Tagged: Financial Accounting

  • Reminder: FDM Request Process

    |July 11, 2025
    This is a friendly reminder that FDM worktag changes such as edits, inactivations, or reactivations should be submitted through Workday using the Create Request task. This process ensures we have the proper audit trail and documented approvals for all changes to worktags. See the full post for a job aid link and contact information for help.
  • Important Reminders for FY25 Second Close, July 18

    |July 11, 2025
    The second close for June FY25 will occur at 4 p.m. on Friday, July 18.  All journals in "created" or "in progress" status for June will be cancelled at that time. Last year, there were Workday performance issues due to a high volume of journal EIBs submitted the afternoon of second close. To ensure we can successfully close the evening of July 18, please do not wait until the afternoon of July 18 to submit EIB journals. If you notice performance issues, please do not attempt to submit the EIB again. In addition, if the journal is not that many lines, please use the Workday user interface to complete the journal instead of an EIB.
  • Ohio Sales Tax Holiday Effective August 1 - 14

    |July 10, 2025
    The Ohio Department of Taxation has announced there will be an Ohio Sales Tax Holiday in effect from 12 a.m. Friday, August 1 until 11:59 p.m. Thursday, August 14, 2025. During the holiday, the exemption will apply to all sales of goods that are $500 or less except for certain watercraft, motor vehicles, alcoholic beverages, tobacco, vapor products, or items containing marijuana. See the full post for more details as well as a contact for questions.
  • Bad Debt Expense Account Posting Rule Update

    |June 27, 2025
    Effective Friday, June 6 at 4 p.m., all accounts receivable write-offs will post to ledger account 65770: Bad Debt Expense. Historically they had been posting to 13200: Allowance for Uncollectables. The Controller’s Office is in the process of identifying write-off debit balances in the 13200-ledger account and plans to correct this via a central journal. Spend Category SC10660: Bad Debt Expense will now map directly to 65770. Historical corrections will be posted by the second June close.
  • FY26 Equity Roll-forward Timing

    |June 13, 2025
    Please note that the equity roll-forward of FY26 beginning equity balances will not occur until after second close, which is at 5 p.m. on the evening of July 18, 2025. As a result, reporting will be affected until the equity roll-forward process is complete. 
  • FY26 Period Close and Department Fiscal Payroll Processing Calendar

    |May 30, 2025
    The detailed FY26 period close and department fiscal payroll processing calendar has been published and is now available on the Controller's website. Link in full post.
  • Workday Report Maintenance: Credit Card and Expense Report Data

    |May 16, 2025
    On Monday, June 2, several credit card and expense-related reports will have maintenance performed on the back end of the reports. Changes as a result of this work will replace retired Workday prompts. While end users will still be able to use the same prompts after maintenance is complete, any saved filters and/or scheduled processes will be affected for the reports. Users will need to re-save filters and re-schedule reports after June 2 for any saved filters or scheduled processes that use the reports and prompts listed in the full post.
  • FY25 Year-end Timelines – Important Information

    |May 16, 2025
    Please continue to refer to the Unit Year-end Checklist, found on the Business and Finance website's Controller page, for important year-end dates, timeline information and tasks that need to be performed. Procurement and expenses close will occur at Noon on Monday, June 30. Similar to last year, to avoid potential accounting issues, we are asking that no transaction approvals, changes, or cancellations occur after that time until the roll forward is complete the following day. This includes Requisitions, POs, Change Orders, Supplier Invoices (for both Internal and External Suppliers), Miscellaneous Payments and Expense Reports. It's highly recommended to have FY25 procurement and expense transactions fully approved by the end of the day on Friday, June 27, 2025.
  • Coming Soon: New "Sources and Uses - Monthly Trending" Financial Report

    |May 16, 2025
    During the week of May 26, a new financial trending report will be made available. The new "Sources and Uses - Monthly Trending" report allows the user to select the Period, as well as worktag information and then will show Actuals broken out by each period in the respective "Fiscal Year," along with Year to Date Encumbrances, Beginning and Ending Equity numbers. See the full post for more details and where to send questions.
  • New Inventory Spend Categories

    |May 16, 2025
    New inventory spend categories have been created to improve visibility into inventory write offs and adjustments. These include: Inventory - Shrinkage (SC10744), Inventory - Cost Adjustment (SC11040), Inventory - Obsolete (SC11039), and Inventory - Spoilage (SC11041). See the full post for details.