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Financials System

Introduction

Benefits

Access

Training

Reporting

Expediting

PO Closure

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Financials System

Introduction

The Financials System is a web-based system used for requisition entry and purchase order creation on the front end of procuring goods and services; while accommodating receipt entry and payment on the back end of the procurement process. The system is also used to manage the University’s inventory and supplier information. The Procurement Inquiry section of the Financials System tie all of these transactions into one series of pages. Access to this system is generally available to all University departments that order services, equipment or supplies from off-campus suppliers and from Stores. For more information about the Financials System, see the Procurement Assist Pages.

Availability: Access is available to the on-line purchasing system from 7:00 a.m. to 7:00 p.m. Monday through Saturday and 1:00 p.m. to 5:00 p.m. on Sunday.

Where do you begin?

  • Logon - the system is now web-based and is not accessible via Citrix (see: Financials 8.4)
  • Training - complete all the required training courses? For more information, see Financials Training

Need help?

Benefits to using the Financials System

  • A time saver: Requisitions can be sent electronically to Purchasing and Stores. In addition, departments can issue their own small dollar purchase orders up to their pre-approved purchasing limit.
  • Inquiries: Users may check the status of any purchase order (when issued, when received, how much invoiced and paid to date) or view asset information.
  • Immediate access to a purchase order number: Departments can issue purchase orders, up to their department’s approved dollar limit, using the Financials System and have a purchase order number immediately issued.
  • Electronic Approval: Users may control signature approval by customizing workflow approval standards.
  • Custom reports: Standard departmental reports are available to assist you in tracking and managing your purchasing activity through the eReports.

Access

For access to the Financials System, begin by contacting your department fiscal officer. Once approval is granted on the departmental level, arrangements can be made for security access by completing the access request form (appropriate authorization required).

Training

Training is an intricate part of using and understanding the Financials System. Receiving proper instruction and a navigational comprehension of the Financial System will ensure the integrity of Purchasing’s policy and expedite the procurement process. For a schedule and description of available courses, please see the Office of Information Technology’s HR and Financials Training Schedule. Self-registration is available at OIT’s training schedule, be certain to take note of the referenced prerequisites for the courses.

Reporting

A key feature to the Financials System is it’s reporting capabilities. eReports is the University's reporting tool designed to work compatibly with the Financials System. There are several reports that may be utilized by University customers to report on the system’s performance specific to your area. They may include, but are not limited to: Purchase Order Report, Unpaid Voucher Report or the User Defined Voucher Report.

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Expediting

Expediting, a division of Purchasing, was created to work with the Financials System to resolve match exception issues for the University. The expediting staff work as liaisons between Accounts Payable and Purchasing to resolve encumbrance problems and match exceptions, which has resulted in enormous financial savings for the University.

PO Closure

PO Closure is a tool created for use in the Financials System to relieve the encumbrance on a Purchase Order. When a PO Closure is requested, no activity can be processed against a purchase order including: change orders, credits, vouchers or receivers. PO Closure is FINAL – there is no reversal. Once marked, the Purchase Order will close immediately.

PO Closure may be requested when:

  1. The purchase order will no longer be used and all invoices have been paid; credits have been applied; and change orders have been completed; or
  2. The unit price on the voucher is less than the unit price on the purchase order.

Note: Before requesting the PO Closure, authorized college or departmental personnel must complete the following steps:

  1. Issue change orders in the Financials System – Change orders must be entered and approved if the quantity vouchered is less than the quantity ordered before requesting the closure.
  2. Enter receipts in the Financials System – Receipts must be entered for all capitalized and tracked non-capitalized assets before requesting closure.
  3. Validate total amount matched equals total amount vouchered – Use PO Activity Summary to verify total amount matched equals total amount vouchered before requesting closure.
  4. Validate voucher activity has occurred on the purchase order - Use PO Activity Summary to verify voucher activity; the closure process cannot close a purchase order that has no voucher activity - purchase order must be cancelled.

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PO Closure Form

Please read the PO Closure Overview before completing this form to request a purchase order encumbrance be reversed (closed).

Name:
Email: (name.22@osu.edu)
Telephone:

Purchase Order Number: Line Number: Distr. Number: All Lines:

Additional comments:


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O S U Purchasing

Purchasing | Stores & Receiving Building | 2650 Kenny Road | Columbus, Ohio 43210 | (614) 688-8200

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