Latest Financial Reporting and Accounting News

Budget Variance Management Report

Posted April 23, 2008 in Financial Reporting and Accounting, Financial Services Technical Support and tagged , .

Beginning April 23rd, a new managment report selection will be available entitled “Monthly Variance Report“. This report is for Activities and BU02 & BU03 OrgIDs. It is not for Grant and Contract Projects. The report shows budget, actual revenue and … Continue reading →

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Financial Year-End Information & Dates – FY2008

Posted April 21, 2008 in Financial Reporting and Accounting and tagged .

The Year-End Information & Dates document has been updated for fiscal year 2008. This document indicates when accounting documents must be delivered to the appropriate accounting office to ensure the transactions are booked in June. Also, the Accounting Calendar has … Continue reading →

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Endowment Projections

Posted February 12, 2008 in Endowment & Investment Accounting, Financial Reporting and Accounting, Grants and Contracts Accounting and tagged , .

Financial and Business Services is pleased to offer colleges and departments two methods for estimating the amount of endowment income expected during the next fiscal year. In the future, the necessary factors for doing the calculations will be provided on … Continue reading →

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Accounting for Special Student Fees

Posted February 11, 2008 in Financial Reporting and Accounting, Income Accounting and tagged , , .

Effective July 1, 2008, special fees assessed to students will be recorded using general ledger account 4077X. All existing default chart strings for special fees will be changed automatically to the new range effective with for the 2008-2009 fiscal year … Continue reading →

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Large image files in Internet Explorer

Posted February 4, 2008 in Accounts Payable, Financial Reporting and Accounting, Grants and Contracts Accounting and tagged , .

Accounts Payable replaced two document scanning machines in the fourth quarter of 2007. A little known setting on the new machines was not updated during the installation process resulting in large images that Microsoft’s Internet Explorer browser cannot open. The … Continue reading →

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Payroll Encumbrances Incorrect

Posted January 15, 2008 in Financial Reporting and Accounting, Financial Services, Financial Services Technical Support, Payroll and tagged .

Some payroll encumbrances are incorrect on December’s paper copy of the Management Report. The encumbrance problem has been fixed and the current encumbrances (i.e. today’s balance) showing on the on-line reports are correct. The paper copy of the Earnings and … Continue reading →

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FIL becomes FHRIL

Posted October 19, 2007 in Financial Reporting and Accounting, Financial Services Technical Support, Grants and Contracts Accounting, Payroll and tagged .

The Financial Information Library has been expanded to include Human Resource/ Payroll information. The new Financial and Human Resources Information Library (FHRIL) is out there for your use! You will notice that the user interface is new and improved, too! … Continue reading →

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Recurring Journals for FY2008

Posted June 1, 2007 in Financial Reporting and Accounting.

Recurring Journals for FY2008 should be sent to Mike Olsen in Financial Reporting & Accounting (403 Park) by June 30. A “Recurring Journal” is a journal that is processed each and every month with NO changes to it. The chartfields … Continue reading →

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Financial Report Meetings

Posted April 27, 2007 in Controller, Financial Reporting and Accounting and tagged .

A new auditing standard is in effect for this year’s annual financial report. Auditing standards describe how an auditor performs his/her work – so this applies to the University’s external auditors. The new standard describes how internal control issues are … Continue reading →

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Year-End Dates & Accounting Calendar

Posted March 22, 2007 in Financial Reporting and Accounting and tagged .

The Year-End Information & Dates document has been updated for fiscal year 2007. This document indicates when accounting documents must be delivered to the appropriate accounting office to ensure the transactions are booked in June. Also, the Accounting Calendar has … Continue reading →

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