Financial Summit 2024

Save the date for the 2024 Financial Summit hosted by the Office of the Controller. 

The summit will be held on Wednesday, Oct. 30, from 9 a.m. to noon, in room 180 at the Dalney Building. There will also be a virtual attendance option with information to be shared in a future communication. 

All are welcome to attend, but the meeting will best serve individuals who manage accounting and finance processes.      

If there are any topics you feel should be covered, send an email to fy.review@gatech.edu for consideration by Oct. 1. 

New PCard Bot Deployed to Track Split Transactions 

Procurement and Business Services continues to expand the use of robotic process automation (RPA) for enhancing compliance and reducing time spent on routing administrative tasks. Effective Monday, Aug. 12, the Central PCard Office is now deploying a bot to help track and communicate with PCard cardholders about split transaction violations – the prohibited practice of dividing one purchase into two or more transactions to stay within the cardholder’s transaction limit. The PCard Split Transaction bot will send an email detailing the split transaction with all relevant details, including merchant name, transaction date, transaction count, sum of transactions, and more. This email will come from the AskPCard inbox. 
 
For additional questions about the PCard Split Transaction bot, submit a ticket in ServiceNow.  

National Science Foundation Award Management

The National Science Foundation (NSF) is a cornerstone of Georgia Tech’s research funding, contributing approximately 20% of our award funding. In 2022, the NSF Office of Inspector General released a detailed report based on 18 performance audits of research institutions, highlighting key issues and suggesting controls to enhance award management.  
 
This month’s PI Article from Grants and Contracts Accounting sheds light on the common findings from these audits and emphasizes the importance of compliance and effective management of NSF awards.  

Workday Updates

Finding Problem Invoices in Workday

Accounts Payable (AP) often receives invoices that cannot be processed due to errors. These issues often require action from the ordering department, such as creating a new purchase order (PO), modifying an existing PO, or providing additional documentation – delaying the processing of invoices and supplier payment.

Now, departmental purchasers can more easily locate invoices flagged for additional action in Workday.   
 
Read the Knowledge Article to learn more. 

Beginning October 7, AP will communicate invoice issues with campus users via the Activity Note in Workday. Perceptive Content (ImageNow/WebNow) will no longer be utilized.

Virtual Training Sessions will be held on several dates in October to provide additional information. Click the links below join.

McMaster-Carr Contract Now Available in Workday 

McMaster-Carr Supply Company, an e-commerce distributor, offers over 500,000 products for businesses, including hardware, tools, raw materials, industrial materials, and maintenance equipment. 

As of Aug. 5, this new supplier contract is available in Workday for campus users. Orders placed before noon Monday through Friday from the Georgia-based distribution center will be delivered the same day. Orders placed after noon or from other distribution centers will be delivered the next business day. 

Procurement and Business Services advises users to enter their purchase requisitions in Workday for this supplier. PCard purchases are discouraged.    

Checking for Supplier Contracts in Workday  

Procurement and Business Services is pleased to announce the rollout of a new report in Workday, the Procurement Contract Search Report, designed to enhance the procurement experience. This report allows you to search for procurement contracts by supplier name or specific keywords, making it easier to check if a supplier has a contract in Workday. This new search capability is designed to boost productivity, save time, and improve the overall efficiency of Georgia Tech’s procurement processes. 

Click here for detailed instructions on accessing and using the report.

Welcome to Compliance Corner

PCard 101 Resource Guide   

As outlined in last month’s Financial News Bulletin, “Compliance Corner” will include highlights of key financial compliance requirements and initiatives. This month focuses on Procurement Cards (PCards), as they are frequently named in internal and external audits due to the potential for fraud.  

Procurement and Business Services has created a PCard resource guide to serve as a comprehensive knowledge document covering all aspects of PCard usage.  
  
This guide includes essential information on security, usage, support, spending limit increases, unallowable charges, etc. It is designed to assist campus stakeholders in effectively navigating PCard usage and understanding their responsibilities as PCard holders.   

Open Positions in the Office of the Controller

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