Ohio University        Division of Finance

 

BU$INE$$ MATTER$


June 3rd close, 2005

Colleagues:

The June 2005 Financial Management System (FMS) reports for the third fiscal year end report run are now available to you at:  https://epprod.cats.ohiou.edu:9033/oraclelogin/ . These reports have a run date of August 19, 2005 or later.

Be sure to read BU$INE$$ MATTER$ below for important information related to your reports and other Division of Finance services. PLEASE NOTE information below regarding OU Foundation account balances.

If you need assistance accessing your reports or FMS in general, please contact:
Frontline at 7-8000 or frontline@ohio.edu

If you have further questions or comments, please contact:
Diane Lucas at 7-1380 or lucasd1@ohio.edu  OR
Tanya Bibler at 7-1417 or biblert@ohio.edu

BU$INE$$ MATTER$

Features of this edition:

  1. Sixty (60) day rule for Accounting Corrections
  2. Change to PO Payment/Department Referral Procedures
  3. Payroll Accounting Correction Form
  4. Tips for searching for Expense Natural Account Codes
  5. New topics in Accounting Manual
  6. Previous issues of Business Matters

OUF BALANCES: Please remember that OU Foundation account balances are NOT final until the annual audit is complete.  Balances in 3rd close reports are subject to change.  Please use the OU Funds Available View for the most recent account balance.  You will be notified once these account balances are final.  If you have any questions, please contact the Ohio University Foundation accounting office at 593-1882.

P-CARD: P-card transactions posted through July 1, 2005 are in your June reports. 

MEETING: The Campus Financial Meeting originally scheduled for Wednesday, July 27, has been postponed until Wednesday, September 28 at 2:00 p.m. in the Human Resources and Training Center, Room 141-145.

If you cannot make it to the meeting, please visit the web site at: http://www.finance.ohiou.edu/campusfmtg/ for access to information discussed at the meeting.  This information is usually posted by the end of the day on the Friday following the meeting.

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SIXTY (60) DAY RULE FOR ACCOUNTING CORRECTIONS!  IMPORTANT CHANGE:  After July 1, corrections for transactions over 60 days old will not be processed by the Division of Finance.  Please note that the Internal Billing Authorization/Accounting Correction form has been split into two forms, to accommodate this change.  Download new forms from

http://www.finance.ohiou.edu/forms/index.htm#VP as needed.  More information about this change can be found on the forms.  Questions about this change can be directed to Gina Fetty (coen@ohio.edu). 

CHANGE TO PO PAYMENT/DEPARTMENT REFERRAL PROCEDURES: As of July 1, 2005, Accounts Payable is no longer be sending out payment referrals, for a departmental "OK to pay" on each PO invoice, before making payment.  Procedure will be as follows:

CONSTRUCTION INVOICES AND INVOICES OF $10,000 or over:  All construction invoices, and all invoices over $10,000 will continued to be subject to all current procedures for approval.  

INVOICES FOR SERVICES, ON A GRANT ACCOUNT:  All invoices for services (natural accounts beginning "18" or "797") to be paid from Grant Accounts (project numbers starting with "G") that do not already have the researcher's (PI) signature will be sent for sign-off.  Like the construction invoices, they will continue to be subject to all current procedures for approval. 

ALL OTHER INVOICES (NON-CONSTRUCTION, NON-GRANT-SERVICES, INVOICES UNDER $10,000):  Referrals for departmental approval will no longer be sent.  Payment will be made on a two-way match.

NOTE:  Referrals for dept approval will continue to be sent out if a two-way match cannot be made.  If the Accounts Payable Auditor cannot make the two-way match between the PO and invoice, a referral requesting further information and an "OK to pay" will be sent to the department, regardless of the dollar amount of the invoice.

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PAYROLL ACCOUNTING CORRECTION FORM: To avoid a delay in the processing of Payroll Accounting Correction Forms, please verify that you have attached the appropriate page of the PAY-M940 (Payroll Expense Distribution Detail-Cost Center by Employee) report to the completed form before forwarding it to the Payroll Office.  Any form(s) submitted without a copy of the PAY-M940 page will be returned to the requestor.

EXPENSE NATURAL ACCOUNT CODES:  Search for an Expense Natural Account Code online at http://casplus.finance.ohiou.edu/object/index.asp.  In the upper right hand corner of that web page, type the word to search for (when singular or plural is questionable, use the root of the word; for example, troph instead of trophy or trophies) and click on the search button.  You can then use the Internet Explorer "Find on This Page" feature found in the Edit menu, to look for the specific occurrences of the word you're searching for.

Expense Natural Account Code descriptions are updated regularly based on questions that arise.  Questions indicate clarification is needed in the descriptions.  The expectation is that descriptions will not be read in their entirety, but rather Search and Find features be utilized to help identify the appropriate code.

ACCOUNTING MANUAL:  Find the Accounting Manual web pages by following this link:

http://www.finance.ohiou.edu/accounting/index.htm

Recent changes to content include:

ADDED:  Payroll Distribution

http://www.finance.ohiou.edu/accounting/payroll_distr.htm

ADDED:  Personnel Costs

http://www.finance.ohiou.edu/accounting/personnelcosts.htm

 

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