ARCHIVED Bulletin: New! Daily Posting of Gift Receipts to the General Ledger (Posted July 19, 2010)
Starting July 19, 2010 gift receipts will be imported from the Office of Development's PostGrads system and posted into Oracle General Ledger on a daily basis. Previously, gift receipts were imported into the GL on the first business day of the month, and compiled data for the prior month was made available at month-end close, reflecting the net gift activity for the closed month.
Benefits / Impact:
- Nightly posting allows you to see daily activity, the day after gift receipts are recorded, rather than waiting until "close week" to see what gifts have been posted / received for the prior month.
- Changes / corrections made by OOD will be processed on a daily basis. You may see entries reversed and booked to a new object code (or Fund) the day after the change / correction is made. Previously, changes to object codes (e.g., revenue codes), were manually entered after reconciliation between the Post Grad system and Oracle Financials.
- Adjustments / corrections made to a transaction in the same fiscal period will be reported in your fund statement. Previously, changes made within a period were eliminated and only the final entry was reported. Now with nightly posting, you will see adjustments as they are made. Note, however, that if changes are made on the same day, only the final change for that day will be reported.
Schedule for Change:
Beginning Tuesday, July 20, you will see month-to-date activity posted for June 2010, and will see daily activity for receipts posted during the current month. Data for periods prior to July will not change.
Thank you to the Office of Development for making this change possible and to the contributing staff of Administrative Systems, the Controller's Office, Office of the Treasury, and office of the CFO.
Contact Eliot Alfi (650-724-6361) with questions regarding this new process.
Contact your Fund Accountant with questions regarding specific entries.