Our Streamlined Financial Management System Is Live!

October 10, 2016

Our integrated financial accounting platform has robust analytics capabilities to support more strategic decision-making and better reporting. The new chart of accounts and integrated system will be the single source for all finance-related information at Rutgers. This enables us to be better connected, while allowing each unit to manage its own financials and report across multiple dimensions. Real-time access to consolidated, universitywide data enables better analyses of financial performance and identification of business issues and opportunities for improvement.

The new system will support financial management needs for all University schools, departments, and units as they relate to the:

  • general ledger
  • sponsored grants and contracts
  • non-sponsored projects (restricted funds, designated funds, real projects)
  • expense reimbursement
  • cash management
  • accounts receivable and billing for grants and contracts

To access the new system:

  • Log in to myRutgers portal (my.rutgers.edu), using your NetID and password.
  • Click the Cornerstone tab.
  • Open the Financial Management (Oracle Cloud) app.

FM launch image

Beginning October 10, you can use the:

  • General ledger to record journal entries, conduct balance inquiries, run reports, and view the financial dashboard
  • Projects module to view sponsored grant and contract status, conduct spending inquiries, and access details on funding, budget, commitment, and expenditures using dashboards and reports
  • Projects module to view project status, record transactions, conduct balance inquiries, run reports, and view dashboards for non-sponsored projects (including restricted funds, designated funds, real project activities, and others
  • Accounts receivable module to manage grant and sponsor balances by recording and reporting billing and cash receipts
  • Expense reports module to enter expense reports for travel with automated workflow for approvals, including delegation of entering expense reports
  • Reporting tools to run reports

The project team converted an enormous amount of data from the Banner and RIAS systems. As with any migration like this, you may have questions on the conversions and reports. Dedicated teams are in place to provide assistance if needed.

Financial Management Help Desk
Monday-Friday, 8:00 a.m.-6:00 p.m. Eastern
Phone: (848) 445-2100
Email: finance_helpcenter@finance.rutgers.edu

Helpful resources and frequently asked questions are available on the Cornerstone website.