As a reminder when viewing FY23 results for designated, student organization, and gift sources the FY22 Net Activity has not been rolled forward yet.
A payable is an amount paid by the university in the current year (FY23) for a prior year expense (FY22).
General ledger open encumbrance balances from FY22 will be rolled forward to FY23 on August 2, 2022. Please review your FY23 open encumbrance balances in OBI on August 3, 2022, to see updated balances.
Leading up to this year end, we have shared information about FYE in prior Business Matters articles (available on the Business Matters website).
Bobcat BUY
22.2 release went live on 7/17 and is now available in production.
In the last few months, we have seen several declines on PCards due to bad PINs. The new PCards issued through Bank of America require a PIN to be set up to make payment for many merchants. A cardholder may be prompted to enter their PIN twice at one merchant to account for both the transaction and the tax exemption.
In the May Business Matters edition, it was announced that the University has switched to BofA as our new PCard Provider. The BofA Mastercard program provides cardholders with additional insurance coverage than was previously provided.
As we work on wrapping up another fiscal year, we would like to remind cardholders that all reports including FY22 transactions (transactions dated 6/30 or before) are due to your financial approvers by Wednesday, July 20 th .
As departments are offboarding employees, please ensure that you are verifying whether the employee has open POs that need to be transferred to another employee in the department.
Many people are taking advantage of the summer weather and enjoying some time off to relax and recharge! Before going on vacation, please ensure that you have set up your approval delegates if you are a supervisor or approver so that transactions are not delayed while you are on vacation.