For proper management of your unit’s sponsored funds, it is crucial that budget to actuals are reconciled on a regular basis to ensure that expenditures are charged correctly and within appropriate federal guidelines (Uniform Guidance). Here are a few reminders as to why is it important that you do this on a regular basis:
First, don’t panic. Your next step? Notify Finance. And remember, external audits are normal and are a critical component of financial reporting and organizational governance. They provide assurance to stakeholders that the financial and programmatic reports are reliable and accurate.
If you are new to the University – WELCOME BOBCAT! As you begin your career with Ohio University, we wanted to make you aware of some of the resources we have available to help you figure out how to do business at the University.
Once again, Procurement is spotlighting one of the University-wide preferred suppliers in this month’s edition, Fastenal. For a complete list of university preferred suppliers, please see our preferred suppliers webpage.
BobcatBUY will be down for 23.2 release maintenance from Friday, July 14th 9:00 PM until Noon on Sunday, July 16th.
The PCard department has received many inquiries about e-receipts as they relate to incoming PCard transactions. As you may know, users are able to enable e-receipts in Concur for participating vendors, such as hotels and airlines, to send receipts electronically.
In the last two editions of Business Matters, we have introduced the campus community to a new vendor management system that will go live on campus this fall. We have also shown you how to invite the vendor through the new system.
During the supplier management process, some suppliers are made as Oracle only due to limitations in the use of the supplier record. For example, student and employee records should only be used for reimbursements, while records for participant stipends can only be used for that purpose.
If you received goods or services in FY23 but did not send the invoice to accounts payable by the July 21, 2023 deadline, an accounts payable accrual JE may be necessary to accurately reflect the expense in FY23. Finance will review invoices exceeding $10,000 to determine if a payable journal is necessary.
As a reminder, when viewing FY24 results in OBI for designated, student organization, and gift sources, the FY23 Net Activity has not yet been rolled forward. The Fund Balance processing is a coordinated effort among Budget Office, Foundation Accounting, and Finance (internally distributed among Grants Accounting, GAFR, and Tre