get it while it’s hot timely reconciliation & reporting allyson lee mcadams – accountant...

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?