get it while it’s hot timely reconciliation & reporting allyson lee mcadams – accountant...
TRANSCRIPT
Get It While It’s Hot Timely Reconciliation & Reporting
Allyson Lee McAdams – Accountant Jennifer Paine – Business Manager, Senior
SBS Business Center - MarshallCollege of Social & Behavioral Sciences
SBS Business Center - Marshall Departments
• Arizona Center for Judaic Studies
• Center for Middle Eastern Studies
• School of Journalism
• School of Middle Eastern and North African Studies
Why Reconcile Daily?
• Reasonable assurance that transactions are authorized, allowable and charged to the correct accounts
• Daily reconciliation can reduce workplace stress
• Easier to recall details of events and expenses from these events
• Back-up is easier to obtain as its HOT
Responsibilities of a Business Center
• Every transaction needs backup – why?
Accurate record of accounting
Justification in case of audit
Not ALL financial transactions are generated within our business center and not all route to
the fiscal officer for approval
Do charges ever appear on your
accounts without your knowledge?
Who charged? Who approved purchase? Is it on the correct
account?
Some financial documents not generated in our business center
INTERNAL BILLINGS
• Office supplies • Motor Pool • Parking &
Transportation • UA Book Store • Facilities Management
SERVICE BILLINGS
• Software Licenses • Postage • Printing/Fast Copy • Digital Print Studio• HR Background Checks • Student Union Charges• Ricoh Service Charges
What do they mean?
• IB – INTERNAL BILLING
• SB – SERVICE BILLING
• Approved by fiscal officer. Backup not required by FSO documentation kept in unit and billing dept.
• Transactions do not route to fiscal officer for approval
WHAT DO THEY HAVE IN COMMON? They are all charges that appear on your accounts without your knowledge and you must review & provide back-up to
ensure they are legitimate charges
Methods to find backup for transactions that are not generated in our business center
Scavenger Hunt Method • Look daily at your accounts• Review charge• Find department that
generated the transaction• Contact department for
back up• Review back up
Analytics Report Delivered by an Agent• If a transaction was posted
the previous business day you will receive a notification the next day
• Contact originating department for back up
• Review back up
So many systems, so little time
UAccess AnalyticsUAccess FinancialsUAccess Student
How can an Analytics report help you stay informed with transactions not
generated in your area??
• Set up a simple report specific to a type of expense
• Have an agent deliver it to you via email each day, week, or month – which ever works for you
• Ensure you obtain your back-up• Upload to Docuware
Create a dashboard report
Select a Subject Area
Customize the Report
Agent has notified you via e-mail with PDF attachment of report
Create your own
message
Student Awards
Student Financial Dashboard
Wilma Wildcat
Wilbur Wildcat
How to use that cool idea?
Student Award Process in SBS Business Center - Marshall
• Lots of variability– Who initiates awards– Purpose of awards– Timing of awards
• Variability makes tracking difficult
Several systems/areas involved to get funds from department to student
Trans ID 12345• Student A• Student B• Student CTrans ID 12346• Student D
• Student A• Student B• Student C
• Student D
• Doc # 2015031069000542
• Doc # 2015030969000533
• Doc # 2015031169000555
Student FinancialsAKA Bursar’s Account
Financial AidExternal Awards
DI/Manual Feed
UAccess Student UAccess Financials
UAccess Analytics
CSW – Student Financials Services –Student Financials Transactions Details
CSW – Student Financial Aid –External Awards Details
KFS Ledger Entries
Looking at it from the other side
• Problem: How do you know when a transaction you’ve initiated has hit the system?
• Solution: Use an agent
Is it enough information to be useful?
How manyStudents?Which students?
More details about student awards
Donnie DarkoDonnie Darko
George Eliot
John Adams
George Eliot
John Adams
Stipend
Scholarship
Enough details about student awards
Virginia Woolf
Donnie Darko
Olaf Amundsen
Donnie Darko
Virginia Woolf
Condition = bursar’s account feed transactions hit Financials account
previous business day
• .
/Shared Folders/…./SCHOLARSHIPS POSTED DAILY - CMES
The Financial Report is the condition
Student Awards Have hitMy account
Different content is delivered
/Shared Folders/UA…External Awards Report for CMES previous business day
All the details about the student awards
Virginia Woolf
Donnie Darko
Olaf Amundsen
Donnie Darko
What happened to my award?
Filter for report
• Do you ever have questions about what you see in financials?
• What makes up the "Accounting Line"?
• What does Origin is there "To" and "From"? Can't we just see Debits and Credits?