Controller s Office General Accounting Fiscal Year End Recap and General Update. August 11, 2016

Transcription

1 Controller s Office General Accounting Fiscal Year End Recap and General Update August 11, 2016

2 Discussion Topics Fiscal Year End Journal Entry and Journal VoucherTips Payment Request Inquiry Recurring Payments/Leases Cash/Travel Advances and Settlements General Topics

3 Fiscal Year End Recap Invoice payments Work on smoother procedures for ensuring invoices are paid in the correct fiscal year Journal Vouchers/Journal Entries Review your ledgers monthly

4 Training Fiscal Year End What We Learned Need Journal Entry and Journal Voucher Training Need Match Exception Training Paper Invoices Need to develop a process for receiving scanned invoices from Columbia campus

5 Accounts Payable Match Exceptions 100+ on Match Exceptions Ensure you are following up on all Match Exceptions and working with AP staff to clear those Budget Exceptions on Budget Exception on average daily Ensure you are following up on all Budget Exceptions and working with AP staff to clear those Invoices Turn in invoices immediately upon receipt

6 General Accounting RQs Processed daily and working to be able to scan the backup for RQs Cash/Travel Advance Settlements Working on an Inquiry/Report to view Cash/Travel Advances and Settlements Cash Advance Settlement Procedure can be found and must be submitted to

7 Journal Entry Tips Never use a JE to correct an AP Voucher. This type of correction needs to be done on a Journal Voucher. Ensure the first characters of the long description adequately describes the JE (Correct keying error on RQXXX instead of Correct RQXXX) Ledger Group should always be ACTUAL Source is always ONL Adjusting Entry is always Non-Adjusting Entry Always attach source documents that can back up your JE request. (Screen prints etc) Once all is entered Edit and then Process and you need to check to see if you have two Vs in the bottom right hand corner. Submit after the Edit and Process

8 Deleting a Journal Journal Entry Tips Delete the attachment first and save On the JE Lines Tab, select Delete Journal and Process

9 Payment Request Controller s Website General Accounting Forms, Matrix, General Information Follow Matrix and be certain to begin your description with the key words on the matrix Ø Tremendously high volume Ø Be patient!!

10 Payment Request Tips Follow Matrix and be certain to begin your description with the key words on the matrix NEW: Office Location Choose the location of your office from the list This location code helps PeopleSoft to determine Use Tax if applicable on payments

11 Payment Request Inquiry Search on any of the factors above You can search for PRs that are not yours

12 Payment Request Training NEW Training Tools and Opportunities Web Videos To be released by end of the month Entering Payment Request Payment Request Inquiry Payment Request Webinars Sessions in early September

13 Recurring Payments Currently have approximately 40 recurring lease payments set up. Currently have approximately 25 recurring payments set up. Ø Changes must be reported to the Controller s Office immediately this includes terminations, chartfields Ø New leases must be reported to the Controller s Office immediately Ø Continue to evaluate payments for the recurring payment module

14 General Accounting Resources Controller s Website General Accounting: Procedures and Forms for many processes with more being added by the beginning of the Fiscal Year.

15 General Accounting Resources Contact Us: General Accounting Contact General Accounting for questions regarding: * Journal Entries * RQs * Banking Transfers * Assets * Capital Projects * Tax * Journal Vouchers * Endowments * Team Travel * International Suppliers and Sales Use Tax Returns. Accounts Payable and Travel Contact Accounts Payable for questions regarding: * Vendor Payments * Payment request * AP Uploads * Refunds * Travel Supplier Maintenance Contact Supplier Maintenance for questions regarding: * W-9 * New Suppliers * W-8 * Changes to Supplier Address: generalaccounting@sc.edu Address: accountspayable@sc.edu Address: apsupplr@mailbox.sc.edu Additional Contact Us s for Tax will be established.

16 Suppliers Supplier File Maintenance is now in the Controller s Office New Suppliers Send Supplier OnBoarding Packet to the Attn: Supplier Maintenance in Controller s Office New Employees/Students Employee/Student Form to APSupplr@mailbox.sc.edu Ø Changes to suppliers information must be reported to the Controller s Office NEW Supplier Setup Training Webinar - Sept

17 QUESTIONS

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