{"id":26232,"date":"2024-05-16T17:06:36","date_gmt":"2024-05-16T21:06:36","guid":{"rendered":"https:\/\/www.rochester.edu\/adminfinance\/urfinancials\/?page_id=26232"},"modified":"2024-05-16T17:08:46","modified_gmt":"2024-05-16T21:08:46","slug":"ur-financials-newsletter-vol-17-05-16-2024","status":"publish","type":"page","link":"https:\/\/www.rochester.edu\/adminfinance\/urfinancials\/ur-financials-newsletter\/ur-financials-newsletter-vol-17-05-16-2024\/","title":{"rendered":"UR Financials Newsletter Vol. 17 05.16.2024"},"content":{"rendered":"<h5>In this issue:<\/h5>\n<ul>\n<li><strong>Workday\u00a0<\/strong><strong>Expenses<\/strong>\u00a0(University only, excluding affiliates)\n<ul>\n<li>FY2024 Deadline for Expenses<\/li>\n<li>New Student Expense Report Role<\/li>\n<li>Expenses user group meetings: May 21st 3pm-4pm\n<ul>\n<li>May topics\n<ul>\n<li>Review of reports for expenses.\u00a0 URF1112\/URF1145 Summary and URF1116\/URF1141 Detailed<\/li>\n<li>Review of dates: expense report date, expense item date, and item detail dates.<\/li>\n<li>Year-end deadline\/review: Advanced Airfare, Amex Corporate Card, Business expenses<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Helpful links<\/li>\n<\/ul>\n<\/li>\n<li><strong>Accounts Payable<\/strong>\u00a0(University only, excluding affiliates)\n<ul>\n<li>FY2024 Year-End Close Schedule<\/li>\n<li>Training Session via Zoom on May 23<sup>rd<\/sup>\u00a0from 9:00am-10:00am\n<ul>\n<li>Create Supplier Invoice from Receipt<\/li>\n<\/ul>\n<\/li>\n<li>Tips and Tricks<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<hr \/>\n<h3>Workday Expenses<\/h3>\n<ul>\n<li><strong><u>FY2024 Deadline for Expenses<\/u><\/strong>The Expense Report must have an expense report date before 6\/30\/24 and fully approved by the department by 5pm on Wednesday, July 3, 2024, in order to post in FY24.This includes credit card transactions for advanced airfare and Amex corporate cards.\u00a0 Employees and their Expense Report creators should check the <strong>My Expense Transactions<\/strong> report and submit an Expense Report for\u00a0 advanced airfare and Amex corporate card transactions before the year end deadline.<\/li>\n<li><strong><u>New Student Expense Report Role<br \/>\n<\/u><\/strong>Staff members who create Student Expense Reports should request the new Workday Role called Student Data Entry Specialist.\u00a0 The Role, available on June 3<sup>rd<\/sup>, allows users to create, save, submit, find, edit, view expense report status and payment details. Email the Reimbursement team at <a href=\"mailto:Business_Expense_Reimbursement@finance.rochester.edu\">Business_Expense_Reimbursement@finance.rochester.edu<\/a> to request the role (include your URID number) by 5pm on Thursday May 23<sup>rd<\/sup>, 2024.\u00a0 After May 23<sup>rd<\/sup>, Staff members will submit a security form to request the Role.<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\"><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li><strong><u>Expenses user group meetings (held monthly)<br \/>\n<\/u><\/strong>Workday Expenses User group meetings are another opportunity intended to provide support for Expenses functionality to departments including information sharing, best practices, and tip\/tricks.\u00a0 These meetings are more about discussing what is\/is not working well to identify enhancement opportunities.\u00a0 Upcoming meetings:<br \/>\nLink to join meeting,\u00a0<a href=\"https:\/\/rochester.zoom.us\/j\/96881056200\">https:\/\/rochester.zoom.us\/j\/96881056200<\/a><\/p>\n<ul>\n<li>Tuesday, May 21st from 3:00pm-4:00pm<\/li>\n<\/ul>\n<\/li>\n<li><strong><u>Helpful Links<\/u><\/strong>\n<ul>\n<li>Email Workday Expense inquiries to:\u00a0<a href=\"mailto:Business_Expense_Reimbursement@finance.rochester.edu\">Business_Expense_Reimbursement@finance.rochester.edu<\/a><\/li>\n<li>Workday Login:\u00a0<a href=\"https:\/\/www.rochester.edu\/adminfinance\/urfinancials\/workday-login\/\">https:\/\/www.rochester.edu\/adminfinance\/urfinancials\/workday-login\/<\/a><\/li>\n<li>Link to Workday Expenses reference guides:\u00a0<a href=\"https:\/\/www.rochester.edu\/adminfinance\/urfinancials\/training\/expense-management-training\/expense-management-reference-materials\/\">https:\/\/www.rochester.edu\/adminfinance\/urfinancials\/training\/expense-management-training\/expense-management-reference-materials\/<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<hr \/>\n<h3>Accounts Payable<\/h3>\n<ul>\n<li><strong><u>FY2024 Year-End Close Schedule<br \/>\n<\/u><\/strong>The schedule has been posted in the <u><a href=\"https:\/\/urldefense.com\/v3\/__https:\/rochester.app.box.com\/s\/7f91oh6rkfhivziceyfrza9zcbvq1csc__;!!CGUSO5OYRnA7CQ!cIYntbh-snmU2EOhp3h7iPhs4iWnMo_-z0Ej3OxblHbCC4UPIVITd53lPZ8ajF_Uuq1nV8mZ1cMfm8LBalKvtEuNxmYvkLRpQgqkEVOYujw$\">UR Financial website<\/a><\/u> (link requires login). Please review the schedule for all deadlines as well as appropriate contacts if you have any questions.<br \/>\n<strong>An important\u00a0 deadline pertaining to keep in mind for AP:<\/strong><br \/>\nSupplier Invoice Requests must be fully approved in Workday, supplier Invoices for Workday Purchase Orders must have all match exceptions resolved, and all other Supplier Invoices, F4 Payment Requests, and Journal Entry requests related to AP errors must be received in Accounts Payable no later than <strong>5pm on Friday June 21<sup>st<\/sup><\/strong> via email to <a href=\"mailto:AccountsPayable@finance.rochester.edu\">AccountsPayable@finance.rochester.edu<\/a>.<\/li>\n<li><strong>Create Supplier Invoice from Receipt Zoom Training Session &#8211; May 23<sup>rd<\/sup> from 9:00am-10:00am.<br \/>\n<\/strong>Accounts Payable will be holding another training session on Create Invoice from Receipt functionality on May 23<sup>rd<\/sup> from 9:00-10:00am.\u00a0 If you would like to join this training session, please utilize the Zoom details below.\u00a0 We encourage all users who utilize this functionality to attend, as well as anyone who is not familiar with the process currently but would like to take advantage.\u00a0 Users can feel free to review the training material posted on the P2P website ahead of this meeting by utilizing the links below.\u00a0 Please email Kristina Mano in Accounts Payable if you have any questions.<\/li>\n<\/ul>\n<p>Links to PDF guide: <a href=\"https:\/\/rochester.app.box.com\/s\/plly7bntmmqoj3va4grae7n9k6euywr3\">https:\/\/rochester.app.box.com\/s\/plly7bntmmqoj3va4grae7n9k6euywr3<\/a><br \/>\nLink to video: <a href=\"https:\/\/rochester.app.box.com\/s\/kc1topz91wxdvpqkz52abb3mgghwvra2\">https:\/\/rochester.app.box.com\/s\/kc1topz91wxdvpqkz52abb3mgghwvra2<\/a><\/p>\n<p>Link to join meeting, <a href=\"https:\/\/rochester.zoom.us\/j\/98994967850\" target=\"_blank\" rel=\"noopener\">https:\/\/rochester.zoom.us\/j\/98994967850<\/a><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Thursday, May 23<sup>rd<\/sup> from 9:00am-10:00am<\/li>\n<\/ul>\n<\/li>\n<li><strong><u>Tips and Tricks: Accounting Date versus Budget Date in Workday<\/u><\/strong>\n<ul>\n<li><strong>Invoice Date<\/strong> \u2013 Entered at the time of invoice entry.\u00a0 Date comes from the supplier as indicated on their invoice to us.\u00a0 An invoice does NOT post to a ledger until it is fully Approved (Status updates to Approved) \u2013 see Accounting Date.<\/li>\n<li><strong>Due Date<\/strong> \u2013 Determined at the time of invoice entry.\u00a0 Date is derived by Workday when the Supplier and Invoice Date is entered for an invoice: Workday looks up the Payment Term for the Supplier, applies that to the Invoice Date, to determine the Due Date.\u00a0 AP staff can enter a Due Date Override as needed such as if supplier normally paid Net 30 but down payment must be paid immediately.<\/li>\n<li><strong>Accounting Date<\/strong> \u2013 Determined when the invoice is fully Approved (Status updates to Approved).\u00a0 At that time, Workday first looks at the Invoice Date to determine if the Month of the Invoice Date is an Accounting Period that is Open, if so the Accounting Date will be the date of the invoice.\u00a0 If the Month of the Invoice Date is an Accounting Period that is Closed, Workday will then look sequentially for the first Open Accounting Period:\u00a0 If an invoice dated May 2023 is not fully Approved until today, Workday looks at May 2023 which is Closed, then June which is Closed, etc until it gets to October 2023 which is Open \u2013 the invoice will have an Accounting Date of 10\/1\/2023.Note that future Accounting Periods are opened on the 15<sup>th<\/sup> of each month.\u00a0 For example, November 2023 was opened on 10\/15.\u00a0 If an invoice dated 12\/2 is fully approved on 11\/15, the Accounting Date will be 12\/2 even though it was approved earlier.<\/li>\n<li><strong>Budget Date<\/strong> \u2013 For supplier invoices, Budget Date is derived from the Invoice Date.\u00a0 I expect Invoice Dates and Budget Dates to almost always match.\u00a0 Budget Date can be edited via Journal Entry as appropriate (such as when the wrong date was entered for a SIR payment which are sometimes honoraria that are not processed right away and don\u2019t have actual invoices with dates) and is most likely to happen when Grant FAO is involved.\u00a0 Budget Dates are especially important for GRs and PRs.<\/li>\n<li><strong>Payment Date<\/strong> \u2013 Not associated with postings on ledgers.\u00a0 Settlement run filters look at the Due Dates of invoices to determine which invoices are picked up in that settlement run.\u00a0 The Payment Date is the date of the Settlement Run in Workday.\u00a0 Ad Hoc Payments are different in that Payment Date is the Date entered\/integrated for the AHP (examples: EPIC file date = Payment Date, manually entered AHP Date = Payment Date) which is not linked\/derived when settlement run is created.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>In this issue: Workday\u00a0Expenses\u00a0(University only, excluding affiliates) FY2024 Deadline for Expenses New Student Expense Report Role Expenses user group meetings: May 21st 3pm-4pm May topics Review of reports for expenses.\u00a0&hellip;<\/p>\n","protected":false},"author":112,"featured_media":0,"parent":15902,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-26232","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>UR Financials Newsletter Vol. 17 05.16.2024 - UR Financials<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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