Finance

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CS - AAA (900)

  1. Faculty Time Logs are due the 5th of each month from the departments.
  2. Organize Faculty Time Logs, which are considered A1.2 item 1, as received.
  3. Produce cover sheet for A1.2 item 1 and attach the timesheets.
  4. Copy the entire billing and file appropriately by month.
  5. Scan billing to Assistant Dean of Finance.
  6. Run Query for GL150200 periodically for AP purposes, contact OUMI, and keep the Dean aware of outstanding status.
  • Policy Date: 3/20/02
  • Approved By: Assistant Dean for Admin & Finance
  • Date Revised: 08/16/19
  • Date Reviewed: 6/6/17

Cash Receipts (902)

  1. Determine where the applicable funds are to be deposited.
  2. Record all funds that the College of Medicine Dean’s office receives into the Cash Receipt Register. Any monies $100 or more must be deposited within 24 hours of receipt.
    1. Stamp checks “For Deposit Only-COM Dean’s Office” and make copies.
    2. Log checks in register. Enter date received, payer’s name, date of check, check number, amount and fund in which to be deposited
    3. If the check belongs to another department or college, contact them and have the person who picks up the check sign the Cash Receipt Register to verify the check was picked up.
  3. Authorized person enters deposit into PeopleSoft. Person who enters the deposit must be different from the person who receipted it.
  4. Depositor initials the check register and enters the Bursar’s Receipt number.
  5. Print deposit slip (Pending Approval Deposit Voucher).
  6. Make a copy of the Pending Approval Deposit Voucher. Place copy with check copies in the deposit holding file to wait for Bursar’s Office to process.
  7. Place original deposit slip and check(s) into locked bank bag.
  8. Hand deliver to Bursar’s Office (SCB 118).
  9. After processing by the Bursar’s Office, an authorized person prints Deposit Voucher - the approval date will be at the bottom. Attach to the front of the Pending Approval Deposit Voucher.
  10. A 3rd person verifies that deposit is correct and initials the Cash Receipt Register.
  11. Send copies of deposit to the departments whose funds are affected.
  12. File approved deposits in proper fund account folders.
  • Policy Date: 3/20/02
  • Approved By: Assistant Dean for Admin & Finance
  • Date Revised: 12/20/16
  • Date Reviewed: 6/26/18

Contracts (903)

Department Contracts

  1. The Senior Associate Dean for Administration and Finance (or their designee) must approve each contract routing form electronically via the Office of Research Administration website.
  2. The online system has workflow capabilities and it tracks all of the approvals, including PI, Department Chair and Dean's Office.
  3. An email is received by the Senior Associate Dean (or their designee) to indicate that a contract is ready for review.
  4. Copies of fully executed agreements are available online to print as needed.

Dean’s Office

  1. The Dean’s Office prepares draft contracts for any consulting/teaching/professional contracts that we pursue.
  2. The Dean’s Office generates an online routing form and initiates the workflow process to obtain electronic signatures.
  3. Once approved by the Office of Research Administration, the Dean’s Office generates a requisition and/or a purchase order to the vendor, prior to the processing of any payments for services provided by others.
  4. Once approved by the Office of Research Administration, the Dean's Office bills the contracted party for services rendered by Dean's Office through the Centralized Accounts receivable office.
  • Policy Date: 3/20/02
  • Approved By: Assistant Dean for Admin & Finance
  • Date Revised: 06/13/14
  • Date Reviewed: 08/17/2020

OU Foundation (904)

OU Foundation Payment Requests

  1. Fill out the online OU Foundation Payment Request form and scan a copy of the invoice to attach to the online request form. Specific accounts in the Foundation are used to pay for specific events and products. Some purchases can only be paid for through the Foundation. All OU Foundation payments are taxable.
  2. Once the appropriate Dean's Office sponsors electronically sign the online payment request, a copy of the request form is printed for the file and attached to the original invoice. The copy is placed in a holding folder until the check has been received in the Dean’s Office.
  3. Once the check has been received in the Dean’s office, a copy of the invoice is sent to the vendor along with the check. A copy of the check is made, attached to the payment request, placed in the account folder, and filed in the appropriate account folder.

Department Level

  1. At the department level, all payment request forms must be approved online by a primary sponsor, then routed to the Dean’s Office for review and a counter-sponsor electronic signature.
  2. An email is sent to the department after the Dean's Office approves the online request form so that they may print a copy of the electronically signed payment request to hold until the checks are received from the OU Foundation.

Transfers

  1. All Transfers between OU Foundation accounts must be prepared online by an authorized user following the OU Foundation processes.
  2. Make copies of transfers, enter into Access, and file in the appropriate fund files.

Deposit

  1. Receipt checks into OU Foundation Register.
  2. Complete the OU Foundation Deposit form and mail to the OU Foundation office.
  3. Make a copy of the deposit and check(s), enter into Access, and file in the appropriate fund file.
  4. At the time of reconciliation, a second person verifies the deposit in the Deposit Register and signs off that it is accurate.
  • Policy Date: 3/20/02
  • Approved By: Assistant Dean for Admin & Finance
  • Date Revised: 06/13/14
  • Date Reviewed: 08/17/2020

Paid Leave (905)

  1. Leave accrues on a bi-weekly basis and may be used in the following pay period. Non-exempt employees may accrue compensatory leave which should be used first before any other paid leave is taken.
  2. Employees are to make arrangements to cover their responsibilities during absences.
  3. Employees must request leave through the TAL system for Supervisor approval in advance of scheduled leave. Non-scheduled leave may be approved on the employee’s TAL timesheet.
  4. For non-scheduled leave, such as illness, funeral or other emergency, the office must be informed of approximate duration of leave.
  5. All leave hours must be recorded on employee TAL timesheet and approved as described in 3.
  6. If leave balance does not cover absences, leave without pay will be utilized.

For “Short-Term Disability/Family Leave/Pregnancy Leave/Medical Leave” and “Leaves of Absence without Pay/Holidays/Other Leaves with Pay” see University Policy.

  • Policy Date: 3/20/02
  • Approved By: Assistant Dean for Admin & Finance
  • Date Revised: 12/20/16
  • Date Reviewed: 08/17/20

ProCard (906)

  1. Determine whether to use PCard for purchase of goods, based on university policy.
  2. With proper divisional approval, order the requested goods.
  3. File original paperwork in PCard folder (put appropriate Chartfield spreads on invoices).
  4. On monthly basis, go to Peoplesoft Pcard module to change Chartfield spreads or approve existing Chartfield spreads on each individual expense and verify that backup documentation matches the amounts charged.
  5. Print out a summary of all charges and place with backup documentation in PCard folder for reconciliation and audit purposes, after being approved by the designated approver.
  • Policy Date: 3/20/02
  • Approved By: Assistant Dean for Admin & Finance
  • Date Revised: 07/19/2012
  • Date Reviewed: 08/17/2020

Account Reconciliation (907)

  1. Run OU_Cash queries for appropriate month for: MED00001-MED00004 and MED00490-MED00495.
  2. Save each query as: \\dch-comd1\do\Budget\Dean’s Office\Reconciliations\FYYY\20YY MM\COM___ Cash.xlsx
  3. Run pivot table and sort by ORG and Proj/Grant.
  4. Run OU_Activity queries for appropriate month for: MED00001-MED00004 AND MED00490-MED00495
  5. Save each query as: \\dch-comd1\do\Budget\FinancialData\Activity.xls and \\dch-comd1\do\Budget\Dean’s Office\Reconciliations\FY YY\20YY MM\COM___ Act.xlsx
  6. Import each Activity.xls file into Finance database.
  7. Print ledgers for current month and verify balances agree with OU_Cash queries.
  8. Pull back-up paperwork from the holding file and match to transactions on query. Must have as much documentation as possible. Obtain copies of missing docs.
  9. Once all transactions are reconciled, file in order of ledger report in appropriate account folder.
  10. After all accounts have been reconciled, they are reviewed and approved by a second party.

OU Foundation

  1. Post all cleared payments and file in the appropriate account folders.
  2. Post all donations and deposits made to specific funds and file backup in the appropriate account folders. Development Office supplies source documents.
  3. Print all fund statements from the OU Foundation website.
  4. Run GL detail report from OU foundation website and upload into Financials database.
  5. Match all payments requests and donation/deposit backup to the OU Foundation statements. Verify against financials database statements.
  6. All payment request and deposits should have as much information as possible attached.
  7. After all accounts have been reconciled, a second party shall review and approve.
  • Policy Date: 3/20/02
  • Approved By: Assistant Dean for Admin & Finance
  • Date Revised: 6/26/18
  • Date Reviewed: 08/17/2020

Requisitions and Purchase Orders (908)

  1. Determine if a requisition needs to be done. Look at the amount.
    1. Contracts
    2. Equipment
    3. Service Agreements
    4. Big Events
  2. Obtain three bids ourselves or enter requisition in bid status (meaning: purchasing sends out for bids.) Use discretion as to which one to do.
  3. Procedure:
    1. Enter vendor
    2. Due date
    3. Chartfield spread
    4. Requestor
    5. Telephone number of user (person entering)
    6. GL Code
    7. Quantity
    8. Cost
    9. Description
    10. Any other comments
    11. Header details
    12. Address to send invoice
    13. Contractual stipulation
  4. Then entered into “Pending approval.”
  5. Budget Check
  6. Save
  7. Designated person approves requisition.
  8. Any applicable back up is faxed to Purchasing.
  9. If requisition needs to be “bid by purchasing”, place in “Waiting Bid” status enter vendor #918888888. Do not Budget Check.
  10. When purchasing supplies the department with the bids they have obtained, a decision is made on the vendor; the vendor is entered into the requisition, and then enter into Pending Approval, budget check, save and have approved.
  11. If the preferred vendor’s bid is higher than one of the other bids received, a sole source is completed explaining why this vendor is chosen in spite of being more expensive and then approved by the requestor.
  • Policy Date: 3/20/02
  • Approved By: Assistant Dean for Admin & Finance
  • Date Revised: 11/5/09
  • Date Reviewed: 6/26/18

Residents Billing (909)

Monthly Billing

  1. Receive billing details from the GME office to log into GME billing spreadsheet.
  2. Send billing spreadsheet to Centralized accounts receivable office in financial services by the 10th of each month.
  • Policy Date: 3/20/02
  • Approved By: Assistant Dean for Admin & Finance
  • Date Revised: 12/20/16
  • Date Reviewed: 08/17/2020

Student Activity Accounts (910)

Student Reimbursable Expenditures

  1. Each reimbursable request must have an itemized receipt. If service/goods were purchased with cash, check, or credit card, a Form 3 must be filled out and notarized to be sent with the voucher to A/P.
  2. Every receipt turned in must have the following information: Involved Interest group, reason for service/goods, and number of attendees if under 10.
  3. Create voucher by following the same procedures as in Voucher Policy.
  4. Make a copy of the voucher and attach Request for Payment form.
  5. Copy goes into fund account folder.
  • Policy Date: 3/20/02
  • Approved By: Assistant Dean for Admin & Finance
  • Date Revised: 11/5/09
  • Date Reviewed: 6/26/18

Service Unit Request Form (SUR) (911)

  1. Access Online SUR forms by going to PeopleSoft Financials Main Menu - SUR Entry.
  2. Fill in all pertinent data in appropriate boxes.
    1. To: Full name of the Service Unit from which you are requesting service/supply; e.g. Photographic Services or Motor Pool
    2. From: Full name of the Department for which you are ordering service/supply.
    3. PeopleSoft Chartfield for appropriate department.
    4. Check appropriate box depending on whether you want an estimate or okay to process without an estimate.
    5. Required Date: Date which you need service/supply.
    6. Coordinate with: Person who Service Unit needs to contact for questions.
    7. Save: System will assign SUR #. Print form and write the assigned # on the form. Give form to Approver.
    8. Approver: An authorized approver must go online to PeopleSoft and approve the SUR.
  3. Keep a copy of form in the SUR holding file for account reconciliations.
  • Policy Date: 3/20/02
  • Approved By: Assistant Dean for Admin & Finance
  • Date Revised: 07/19/2012
  • Date Reviewed: 6/26/18

Transfers: Cost and Budget  (912)

  1. Determine what needs to be transferred or corrected, e.g. amount, fund, project, GL account, subclass.
  2. Complete online cost transfer form in PeopleSoft.
  3. Each transfer has a minimum of four lines. Two lines are used to moves funds out of a Chartfield spread and two additional lines are used to move funds into a Chartfield spread. The first two lines and the second two lines must each contain a cash line, plus an expense or revenue line.
  4. If transferring funds out of a Chartfield Spread, the cash line should be negative and the expense line positive. The next two lines are the opposite, i.e. cash line is positive and the expense line negative.
  5. If correcting a transaction, use the first two lines to reverse the original posting and the next two lines to post the transaction correctly.
  6. Check entries by summing them. The total should equal zero. Additionally, the sum of cash lines must equal zero, and so should the sum of the expense lines.
  7. The reference box is limited to ten characters. The description box is limited to 30 characters. Use a reference and description to indicate the purpose of the transfer. Also, they need to be the same for each two lines of the entry.
  8. Once complete, submit for approval in the system.
  9. An authorized approver then approves the cost transfer in PeopleSoft system.
  10. Once an email is received indicating that the cost transfer has been approved and processed by general accounting, print, match with any applicable backup, and file in the appropriate account folder.
  11. If multiple Dean’s Office accounts are affected, make additional copies and file in each of the appropriate account folders.
  12. Payroll transfers are only for salary and wage GL Accounts. Fringe Benefits are automatically transferred with salaries and wages.
  • Policy Date: 3/20/02
  • Approved By: Assistant Dean for Admin & Finance
  • Date Revised: 12/20/16
  • Date Reviewed: 08/17/2020

Travel Reimbursement (913)

  1. Traveler or department area representative within the Dean’s Office will book travel and fill out expense report through concur (Travel.ouhsc.edu) and route to appropriate higher authority individual, who will sign and approve the reimbursement.
  2. Traveler will be notified of electronic deposit of travel reimbursement.

Department Travel

  1. The COM Dean, or his designee, approves all “Chair Authorization to Travel” forms previous to trip arrangements.
  2. The COM Dean, or his designee, must approve all requests for reimbursements to Department Chairs.
  • Policy Date: 3/20/02
  • Approved By: Assistant Dean for Admin & Finance
  • Date Revised: 6/26/18
  • Date Reviewed: 08/17/2020

Vendor Information (914)

  1. Look in PeopleSoft and see if the vendor is in the system.
  2. Determine whether a company or individual form is needed.
  3. Have individual complete appropriate form (home address used for individual) or have company complete and send (fax) or e-mail back to Dean’s Office.
  4. Dean’s Office fax completed form to Purchasing.
  5. AP Vendor Department enters into PeopleSoft System then it goes to State to be entered into State database. State and AP records must agree.
  • Policy Date: 3/20/02
  • Approved By: Assistant Dean for Admin & Finance
  • Date Revised: 11/5/09
  • Date Reviewed: 6/26/18

Voucher (915)

  1. Receive invoices from vendor and date stamp.
  2. Appropriate section approves and sign invoice.
  3. Input invoice into PeopleSoft
    1. Vendor
    2. Invoice date
    3. Invoice number
    4. Amount
    5. GL Code
    6. Chartfield spread
    7. Comments i.e., food – what the meeting was for and number attending
    8. Contact name
    9. Number
    10. Extension
    11. Save
  4. Write the voucher number on the top right corner of invoice.
  5. Highlight name of vendor, date, invoice number and amount.
  6. Print voucher register.
  7. Make one copy of the voucher register and one copy of the invoice.
  8. Original voucher register and original invoice are stapled together.
  9. The original voucher is budget checked and mailed to AP.
  10. Copies are filed in appropriate file folders.
  • Policy Date: 3/20/02
  • Approved By: Assistant Dean for Admin & Finance
  • Date Revised: 6/26/18
  • Date Reviewed: 6/26/18