Clearing Outstanding Transactions

Dear H&S Finance Colleagues,

 

Thank you all for the thoughtful work on the FY21 budget.  It is an extraordinary effort during extraordinary times. 

 

As we pivot from FY21 budgeting to FY20 year-end close and in consideration of several key transaction processing deadlines in early August, we have posted in your WIP folder in the Finance Repository a list of any outstanding PCard, TCard, and Advance transactions for your unit.

 

You can access your WIP folder through the H&S Finance website clicking on the Repository tab.

 

One of the fiscal year-end tasks is to submit and approve all transactions for goods and services received from September 1, 2019 through August 31, 2020. A consequence of the COVID-19 response is canceled travel. This can add to the number of outstanding transactions, as can working remotely and not having access to receipts. I encourage you to review these outstanding PCard, TCard, and Advance transactions and take what action you can over the next few weeks to process these transactions.

 

Some outstanding TCard and Advances may be due to travel cancelations.  In those cases, the following provide helpful hints:

  • For TCard: Make sure that the expense end date has been updated to the expiration date of the ticket.  This will move the transition to a future fiscal year. For instructions on how to do this please click Here.
  • For Advances: Please submit a ServiceNow ticket request which should include the reason for adjusting the clearing date (based on the expiration date of the ticket).

 

In addition, Fingate contains instructions on how to clear PCard, TCard, and Advance transactions.

 

The University due dates for submitting and approving transactions so that they are recorded in the correct fiscal year are:

  • Expense reports, Advances and TCard transactions must be submitted by 5pm on August 12 and approved by 11pm
  • PCard transactions must be submitted and approved by 4pm on August 21

 

While the reports we have posted are a snapshot as of last week, you can regularly monitor transaction aging by using the OBI reports created by Financial Management Services (see the “Expense Requests and SU Card Activity” Dashboard in OBI).

 

Best,

 

Blake Grenier

Associate Director of Finance

The School of Humanities and Sciences