Tagged: Financial Accounting

On Friday, October 23 a new custom validation was put in place to restrict the usage of OSP Grants on cash sales. For refunds or repayments of grant expenditures, please contact ERIK Grants Accounting (ospgrantsaccounting@osu.edu) for guidance.

Due to the Academic Winter Recess (December 26 - January 1), several updates have been made to the FY26 Period Close Department Fiscal Payroll Processing Calendar. See the full post for details.

The Controller's Office has updated the unit monthly reconciliation checklist for FY26. The main updates include transitioning the existing checklist into Microsoft Excel format for easier use, with job aid links and resources linked to each step. In addition, a step was added to help facilitate purchase order review and closure.

This is a friendly reminder that FDM worktag changes such as edits, inactivations, or reactivations should be submitted through Workday using the Create Request task. This process ensures we have the proper audit trail and documented approvals for all changes to worktags. See the full post for a job aid link and contact information for help.

The second close for June FY25 will occur at 4 p.m. on Friday, July 18.  All journals in "created" or "in progress" status for June will be cancelled at that time. Last year, there were Workday performance issues due to a high volume of journal EIBs submitted the afternoon of second close. To ensure we can successfully close the evening of July 18, please do not wait until the afternoon of July 18 to submit EIB journals. If you notice performance issues, please do not attempt to submit the EIB again. In addition, if the journal is not that many lines, please use the Workday user interface to complete the journal instead of an EIB.

The Ohio Department of Taxation has announced there will be an Ohio Sales Tax Holiday in effect from 12 a.m. Friday, August 1 until 11:59 p.m. Thursday, August 14, 2025. During the holiday, the exemption will apply to all sales of goods that are $500 or less except for certain watercraft, motor vehicles, alcoholic beverages, tobacco, vapor products, or items containing marijuana. See the full post for more details as well as a contact for questions.

Effective Friday, June 6 at 4 p.m., all accounts receivable write-offs will post to ledger account 65770: Bad Debt Expense. Historically they had been posting to 13200: Allowance for Uncollectables. The Controller’s Office is in the process of identifying write-off debit balances in the 13200-ledger account and plans to correct this via a central journal. Spend Category SC10660: Bad Debt Expense will now map directly to 65770. Historical corrections will be posted by the second June close.

Please note that the equity roll-forward of FY26 beginning equity balances will not occur until after second close, which is at 5 p.m. on the evening of July 18, 2025. As a result, reporting will be affected until the equity roll-forward process is complete. 

The detailed FY26 period close and department fiscal payroll processing calendar has been published and is now available on the Controller's website. Link in full post.

On Monday, June 2, several credit card and expense-related reports will have maintenance performed on the back end of the reports. Changes as a result of this work will replace retired Workday prompts. While end users will still be able to use the same prompts after maintenance is complete, any saved filters and/or scheduled processes will be affected for the reports. Users will need to re-save filters and re-schedule reports after June 2 for any saved filters or scheduled processes that use the reports and prompts listed in the full post.