On July 12, the Division of Finance and Administration held its second Oracle Reboot Camp. Over 70 staff members from across the university community attended. The topics covered included accounts payable validations, information on common invoice holds, Smartview training, and the general ledger transaction report. A considerable amount of time was spent providing direct one-on-one support for the participants.
Oracle Data Integrity Project: Given the limited number of accounts that require a reconciliation plan for FY22, the accounting team has shifted strategies. The team has identified a majority of the remaining issues for FY22 are due to needed payroll corrections that overlap many of the remaining accounts. To address this, the team identified 26 payroll accounts that require reconciliation and have completed 14 of them. They will continue to complete these through our FY22 close process.
The budget alignment plans are nearly entirely complete, and as the accounting team reconciles the actuals flowing into the system users will begin to see more clarity in account balances.
Please note that the current accounting reconciliation process will address financial transactions that transpired during FY22, where a bulk of the activity has occurred, but following the completion of these activities, ODIP will need to evaluate financial transactions inaccurately provided during FY21 (e.g., did not possess POET) to complete the reconciliation process. These reconciliations require a different strategy, and more information will be provided as we approach this effort.
Researchers and their teams will soon begin to see improvements in the data accuracy and, with the Oracle Reboot Camps, the division has been facilitating a better understanding of how to use the Oracle financial system to access and use this information. CFO Kurt Schnier extends his thanks to those who participated in the Oracle Reboot Camps and to all DFA staff. "They have dedicated many of their efforts to improving the data quality flowing into the system to support the campus," Schnier said.
