To streamline the University’s invoicing process, beginning Tuesday, October 4, 2022, the Accounts Payable department will change the way they process returned invoices from campus.
There are security issues that arise from holding PCards in the PCard office for extended periods of time; because of this the Finance department must set protocols around PCard pickups.
As you all know, OHIO switched to a new payment card provider, Bank of America, in April 2022. To this date, there are still approximately 100 payment cards from the initial distribution that have not been picked up by the respective cardholders.
E-Receipts sent from suppliers are an efficient way of managing transactions and many travel providers, such as hotels and airlines, will provide you with e-receipts within Concur if you have agreed to accept them. However, there are times that the e-receipts come in prior to or without an associated credit card transaction.
Accounts Payable continues to see an increase of tickets from employees asking to reverse the payment made to their bank accounts because the payment was intended to go to an employee which they are a delegate for.
As many of you know, Lowe’s is one of the University’s preferred suppliers for Maintenance, Repair, Operations (MRO) Supplies and Related Services. There are a couple ways that University employees can purchase from Lowes:
As a reminder, if you have technology or software that you would like to purchase, you must first obtain approval from OIT.
Grants Accounting has engaged with Point Consulting Group to complete the university’s next F&A rate agreement with the U.S. Department of Health and Human Services (DHHS) Cost Allocation Services.
When making purchases, it is important to be aware if any portion of the purchase meets the criteria to be considered capital equipment. If the purchase meets our capitalization criteria, we need to follow OU Equipment Inventory policy 19.054 Equipment Inventory Control.
For proper management of your unit’s sponsored funds, it is imperative that budget to actuals are reconciled on a regular basis to ensure that expenditures are charged correctly and within appropriate federal guidelines (Uniform Guidance). Why is it important that you do this on a regular basis?