Using OBI to Identify and Monitor Aging
and Force Cleared Transactions
To reduce the amount of aging transactions on our financial statements, Financial Management Services (FMS) has launched a new process that will recur on a quarterly basis starting in FY22 to enforce the timely clearing of these transactions.
The Expense Requests and SU Card Activity OBI Dashboard is your go-to tool for identifying and monitoring your department’s aging transactions. With this dashboard, you can run reports on aging credit card transactions, aging expense requests or aging advances.
Reminder: Per the Clearing of Aging Transactions Policy, which was created to protect the university against risk, all Pcard and TCard transactions and advances must be verified and approved within 60 days of the:
- Credit card posted date (for PCards)
- Completion of travel or posted date (for TCards), or
- Expected clearing date (for advances)
Otherwise, these uncleared transactions will be force cleared quarterly by FMS, and budget units will be charged $35 per transaction.
To identify, monitor and clear aging transactions for your department, or to find and reconcile transactions that have been force cleared by FMS, please refer to Topic Overview: Managing Aging and Outstanding Expense Transactions.
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