Did You Know (11/28/16)

Did you know that memos for stipends, timesheets, and adjustments require correct account number/chart string in order to process?

Issue/Problem

When a timesheet, memo or an adjustment is sent to payroll that is missing and/or have an incomplete, or incorrect account number, this does lead to a lot of problems.

The problems it causes are:

  • the wrong location/cost center/fund) is charged which leads to inaccurate accounting for available budget and existing budget lines for the current fiscal year (Payroll sees this more with stipend payments)
  • if the employee happens to be paid incorrectly, this can lead to further problems with not only correcting the pay, but correcting the costing, and the period of time the costing should have occurred in, so that Finance can move the money to the correct account in the correct time period.
  • This has more issues when the funding source is a grant. Grants are federally funded and also require compliance to ensure the proper controls and spending is done, as APS may request future funding requests for programs again from the funder.

How to Correct

Costing is vital when sending an adjustment, timesheet, or a memo for payment. The Finance team usually verifies costing information submitted. If you do not know the correct account/object code/costing info, please make sure you verify this info with Finance, or your supervisor/division head/Principal prior to sending to Payroll in order to reduce confusion and causing the required laborious correction process(es) as well as aforementioned problems.

The pieces that are relevant for Payroll are illustrated in the picture below:

Costing fields in Oracle

The costing information should be displayed clearly and very legibly, if you choose to write in this information. Please note that Payroll may not process until we have this important piece of information, and will request this if the memo/adjustment information is sent to us incorrect, incomplete, or missing. If you are filling out a spreadsheet for Payroll to upload pay information for stipends, etc., to be paid out, then the costing information has to be included in order to for Payroll process payment(s). Whoever is responsible for approving the stipends/memo/adjustment, is also responsible to provide the correct accounting/costing information listed on the memo/adjustment/stipends.  Please point this out to the approver as a final as a check when presenting any memos to be approved before sending to Payroll.

If you have questions, always feel free to contact your Payroll rep.

Thanks for all you do!