Procurement Services and Research Accounting & Analysis will open the doors to our new location, inviting UW faculty and staff to our Roosevelt Commons 3rd floor Open House (see flyer) at 4300 Roosevelt Way on November 17th from 11-2 in the afternoon. Register for this event now. Registration is not a requirement to attend but it’s very much appreciated by the planning committee.
Reports & Reconciliation
Topics Covered Below:
- Changing or Closing eProcurement (Ariba) Orders
- Changing or Closing eProcurement (Ariba) Blanket Purchase Orders (BPOs)
- Fiscal Year End / Biennium Close
- What UW Departments Need to Know
Procurement Desktop Reports (PDR)
PDR is a suite of web-based reports developed by Procurement Services used for tracking payments, resolving issues, and reviewing and approving invoices. Current report categories are Accounts Payables, Procard, Requisitions, Purchase Orders, Travel, and a Departmental Dashboard.
Ariba offers a wide variety of reports revolving around common functions, such as Orders, Payments, eReimbursement and Travel Expense Reports. These reports provide users with a quick way to review the status of their Ariba transactions and items that may need further action.
Do you have an eProcurement Catalog or Non-Catalog Purchase Order you want to change or close? Procurement Services created a web page to help walk you through the change and close processes. In addition to step-by-step guidance, we have included pertinent questions that our Customer Service team would normally ask to help minimize the email exchanges between you and our department.
Do you have an eProcurement BPO that you want to change or close? Procurement Services created a web page to walk you through the processes. It includes general information, along with more specific guidance, such as tips, best practices, and step-by-step instructions.
MyFD is a web interface for the UW's Financial Accounting System (FAS) which provides users a convenient means for monitoring budget balances, reconciling transactions, and reviewing source documents.
Business Intelligence (B.I.) Portal and Enterprise Data Warehouse (EDW)
The Decision Support team has developed the B.I. Portal which connects users to the EDW reports and analytics. The Financial Resources section of this reporting tool is an extension and augmentation of the existing reporting functionality of MyFD. Other reporting subject areas are Academics, Human Resources, Research, Services & Resources, and University Advancement.
Financial Accounting System (FAS)
FAS (sometimes called FIN) is the UW's mainframe accounting system. All financial transactions flow through it, even when the transaction originated in another system such as eProcurement. Systems such as the Enterprise Data Warehouse (EDW) and MyFinancial.desktop (MyFD) consume information from FAS to produce financial reports.
Budget reconciliation is the process of reviewing transactions and supporting documentation and resolving any discrepancies that are discovered. It entails reviewing transactions, matching transactions with supporting documentation (source documents), managing supporting documents, investigating and resolving any discrepancies, and a high level review of budget activity.
MyFinancial.desktop (MyFD) Reconciliation Report or the Budget Activity Report (BAR) are recommended for reconciling transactions.
Change / Close Orders
Learn more about allowable changes for eProcurement (Ariba) Purchase Orders (POs) and how to submit a request to close eProcurement POs or BPOs.
PaymentNet (Procard / CTA)
Reconciling charges in PaymentNet ensures proper account codes are assigned to the transactions charged on the Procard and Central Travel Account (CTA). Monthly transactions are charged to budgets in the Purchasing Accounting System (PAS) on the 6th business day of each month. Departments must reconcile charges in PaymentNet prior to the PAS deadline.
Transactions should be matched with supporting documentation (electronic or paper) to provide a financial record of each event or activity, and ensure the accuracy and completeness of transactions. Documents should always be kept for the appropriate retention period.
Interested in scanning your supporting documentation? See the UW Scanning Policy developed by Records Management for more information.
Fiscal Year End Close
The UW generally plans and budgets funds for State Budgets on a fiscal year basis and generates a report representing an annual statement of the UW's finances. Therefore, it is important that transactions be recorded in the correct reporting period. Fiscal Year End Close is a time period of approximately three weeks at the end of the first fiscal year of a biennium for departments to review their budgets to ensure transactions are recorded to the appropriate budget(s) and in the correct reporting period. Click "Read More" for key dates, helpful links, and other Fiscal Year End resources.
The UW divides accounting records into two-year periods called a biennium. At the conclusion of the biennium, the records are closed and a new set of records is opened for the new biennium. For approximately 30 days at the end of the biennium, we continue to records transactions in both the old and new biennia, which allows the UW to ensure transactions are recorded to the appropriate budget(s) and in the correct time period. Click "Read More" for key dates, helpful links, and other Biennium Close resources.
Ariba Modules and the Fiscal Year / Biennium Close Processes
Currently there is no Fiscal Year End or Biennium Close crossover period available in Ariba. Therefore, all Ariba transactions must be submitted, fully approved, and reconciled prior to the start of Fiscal Year End or Biennium Close. This includes:
- Catalog Orders
- Non-Catalog Orders
- Non-PO Invoice
Separation of Duties
Separation of duties is a key concept in reconciliation and is the means by which no one person has sole control over the lifespan of a transaction. Ideally, no one person should be able to initiate, record, authorize, and reconcile a transaction. Additionally, systems like MyFinancial.desktop and PaymentNet have functionality built in to the reconciliation process to allow for separation of duty.
Procurement Desktop Report (PDR) Help
Learn to execute, print, and export the different reports. Get information on System Access, tips for using reports, and browser compatibility.
The following additional links may be helpful in performing reconciliation activities:
Banking and Accounting Grant and Contract Accounting Student Fiscal Services