SLA Reclassification Entries - Email #2

May 24, 2017

This confirms that we have posted the reclassification entries for Sub-Ledger Accounting (SLA) issues 5 and 9, which have affected accurate processing of transactions between the Projects sub-ledger and the general ledger.

Configuration changes have been made to the 11 SLA rules to correct system processing. Re-class entries have been made for seven SLA rules – 3, 4, 5, 6, 7, 9, and 10. We expect to implement and post the remaining re-class entries by the end of next week. Similar communications will be sent regarding the other four SLA issues when they are ready to be completed.

The Excel files posted on Cornerstone include pivot tables, summarized by U-D-O levels, for you to evaluate the impact of SLA rules 5 and 9. Please evaluate the impacts to your respective units and, if reversing manual journal entries are necessary, please either proceed to process these on your own, with due propriety, as soon as possible to ensure your year-to-date May results are as intended. May FY17 close is scheduled for June 8, 2017.

Actions being taken by the Controller’s Office

  • Our office needs to process the re-class entries at the transaction level to ensure we have a clean public accounting and internal audit trail.
  • To help you distinguish between journal entries made by the Controller’s Office or your unit, we will use a journal category of “RU SLA Reclass.”
  • We hosted a Webinar on May 23 to review the seven SLA rules that have been corrected and for which re-class entries are being made. You can view the recorded session on Cornerstone.
  • We will send separate communications with impact analyses and pivot tables detailing the journal entries for the remaining system accounting rules as we complete this work.

Action units should take

  • Review the Excel files posted on Cornerstone, which provide an overview of the re-class entries for SLA issue numbers 5 and 9, and pivot tables for the correcting journal entries that the Controller’s Office has made.
  • Evaluate the impacts to your respective units. If you have already made entries to correct any of the 11 SLA items, then you will need to manually enter reverse journal entries. Please either proceed to process these on your own as soon as possible to ensure your year-to-date May FY17 results are as intended.
  • If you have a substantial number of entries that need to be reversed, then you will need to identify the entries by providing the unique journal batch number to the Controller’s Office. Please contact the Controller’s Office at uco@finance.rutgers.edu to request that we auto-reverse the transactions for you.

If you have questions about the attached pivot tables, please contact the Controller’s Office at uco@finance.rutgers.edu.

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