Tagged: Finance

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. 

The Flexible Payroll Expense Data report allows users to customize worktags for payroll expenses. The tableau report interface for the custom worktag selection will be enhanced to improve the end user experience. Instead of users selecting the "select column" icon from the top right of the report, now all the column selections will appear above the column’s headings and will remain displayed.

A new series of reports will soon be released to provide approval times for each approval step on various transaction types. These transaction types include Requisitions, Spend Authorizations, Expense Reports, Miscellaneous Payment Requests, Supplier Invoice Requests, Supplier Invoices, and Purchase Order Change Orders.    

Three new reports are available in Workday that are based on existing reports, but are configured to allow for trending and comparison of financial information on a monthly and annual basis. See a description of each new report below. 

Equity Balances by Balancing/Carry Forward Worktags - Monthly Trending:

New tips and tricks information on the Requisitions process has been added to the Business and Finance website. This provides users with an overview of the business process and a crosswalk to additional resources.

The previously reported issue related to Miscellaneous Payment Requests has been corrected. To recap, The Enterprise Business Solutions (EBS) team received reports from Accounts Payable of a high volume of Manual Send Backs, automated by Workday, when certain attributes were updated on the Payee record, while Miscellaneous Payment Requests were "In Progress."

Workday no longer sends back the requests unless the Payee address or bank account information is updated.

Last updated 10/13/23

Coming in October 2023, Internal Service Providers (ISPs) will use a new process in Workday to invoice other internal departments or units at Ohio State. The Internal Order Billing (IOB) process replaces the need to create an Internal Service Delivery (ISD) to bill other internal departments and units for both the university and the Health System.

Beginning July 2023, a new expedited review process is available that allows Senior Fiscal Officers (SFOs) to sign procurement agreements when specific criteria are met. Review the Procurement Agreement Terms and Conditions Expedited Review Process Guide and FAQ document for more details.