We manage the university's general ledger and other financial reports. Our team aims to provide prompt and accurate financial reports for management's use and for the benefit of the entire university community.
Our team is on the first floor of 60 Turner Street.
Refer to the job aid under the "Cashiering" section of Forms and Resources.
Refer to the job aid under the "Cashiering" section of Forms and Resources.
If you are expecting an incoming wire, contact Alyssa Dedic.
The debits represent increases to expenses or reduction in revenue. The credits represent increases to revenue or reduction in expenses.
Supporting documentation allows the team to better understand the purpose and proper accounting of the financial transaction.
The foundation data model is the Workday chart of account structure that is used for accounting and financial reporting. The model combines the ledger accounts with other financial worktags to be able to report on various dimensions of the organization.
Worktags are keywords that you can assign to transactions and supporting data to make the business purpose clear and establish a multidimensional view to report on.
As soon as the new worktag is set up in Workday and the person has the correct access to view, it can be viewed immediately.
Anchoring worktags is another name for balancing fund. When the journal entry hits two different funds, the fund used on the debit side needs to be added as a balancing fund.
When the purpose is to reclassify the accounting worktags of an expense that came through accounts payable, such as an invoice or P-card.
All grant entries will route to the Sponsored Programs Accounting team to review. If the journal entry is reclassing expenses that are over 90 days of the budget date or over $10,000, it will require additional approvals from the principal investigator and grant financial analyst.
Only if the initiator designates the other cost center manager as an approver. It is not an automatic routing.
Only one approval in each role is required. This list identifies those individuals with the approval role, and thus can approve the journal entry.
The program identifies the functional classification of the expense. Current functional classifications (programs) in Workday are:
Instruction (PG01)
Sponsored Programs (PG02)
Academic Support (PG03)
Student Services (PG04)
Institutional Support (PG05)
Auxiliary Services (PG06)
Plant (PG07)
There is a relation between cost centers and programs, meaning each cost center is assigned to one and only one program. This allows the program to be a related worktag of the cost center.
When a journal entry is submitted, it will go through the defined business process workflow, requiring approvals from set individuals, depending on the worktags included in the transaction. Once all approvals have occurred, the journal entry will post.
If the entry is still in the approval workflow (pending approvals), it will be approved and posted once the final approval has occurred. If the entry requires additional information or modification, it can be sent back to the originator. Once the required additions are made, it can be resubmitted. If the entry should never post, it can be denied by an approver and the entry status will change to "canceled."
"Gift." There are multiple types of gifts, such as spendable gifts, endowment gifts and gifts for capital purposes.
If the reclass entry is a journal entry, the journal entry number is generated when the entry is submitted. The number is in the format of JE-100000XXX. If the reclass entry is a supplier invoice accounting adjustment or a payroll accounting adjustment, no reference number is created. These entries are considered operational transactions.
A spend or revenue category is a worktag that identifies a level of detail for the expense or revenue more descriptive than that of the account. For example, use of the account "Supplies" can be combined with the use of spend category "Lab Supplies." A spend category is required for all transactions posting to an expense account, and a revenue category is required for all transactions posting to a revenue account.
If you have been added to the approval chain or you are the only individual in a role that is in the approval chain, then you need to take action. If you are in a role that includes other individuals, only one person in the role needs to take action.