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Effective Financial Reporting and Reconciliation Strategies – February 2014 Meeting Overview

In the February 17, 2014 meeting hosted by the Controller's Office, Geoffrey Adams presented essential reconciling tools for financial reporting. Key topics included using the Departmental Ledger from OBI, understanding Accounts Receivable details, and leveraging Student Financial queries. Participants learned how to enhance reporting accuracy by applying suitable criteria in queries and utilizing additional resources provided via the CRM system. The session highlighted recent advancements in cash collection efforts and ongoing training opportunities to streamline financial processes.

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Effective Financial Reporting and Reconciliation Strategies – February 2014 Meeting Overview

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  1. Financial Rep Meeting February 17, 2014

  2. Controller’s OfficeFINANCE & REPORTINGGeoffrey Adams

  3. Reconciling Tools • Start with the Departmental Ledger from OBI • Accounts Receivable Account 151000 • OBI Ledger Detail will match the Summary report, but lacks: • Student • Charge • Other useful granular detail • To drill to more granular detail (Student, Charge Item, etc.), a user will need to use screens or queries within Student Central

  4. Reconciling Tools • Determine payments applied to a charge for a particular student • Use the % wildcard for general searching • Use specific criteria if available Useful Student Financials Queries: http://controller.vpfa.fsu.edu/Student-Financial-Services/SFS-for-Departments

  5. Reconciling Tools • Input CRM ticket if • Source of the charge or payment transaction is not your Department or • Evidence of a transaction is no longer accessible to the user • Job Aid available at http://controller.vpfa.fsu.edu/Student-Financial-Services/SFS-for-Departments/SFS-Job-Aids • For specific needs regarding reconciling and reporting, please input a ticket to the CRM with: • Category: Reporting • Specialty Type: Financial Report • Detail:Dept. Ledgers – or– Other • Provide as much detail as possible

  6. Cash Management • Cash Collection site • Annual collections now $5,000 • Increased from previous $1,000 • Effective 1/1/2014 • Cash Management Online Training • Course # BTCMT1 • Sign up through OMNI HR>Self Service> Learning & Development> Request Training Enrollment

  7. Finance & Reporting Contacts

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