SLA Reclassification Entries - Email #3

June 7, 2017

We have posted the reclassification entries for Sub-Ledger Accounting (SLA) issue 1; and SLAs 2, 8 and 11, which have affected accurate processing of transactions between the Projects sub-ledger and the general ledger. Configuration changes and re-class entries are now complete for the 11 SLA rules.

The Excel files posted on Cornerstone include pivot tables, summarized by U-D-O levels, for you to evaluate the impact of SLA rules 1, 2, 8 and 11. 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 results are as intended.

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 will host a Webinar on June 9 to review SLA issues 1, 2, 8 and 11, and corresponding re-class entries, and to answer your questions. We encourage you to join the session with other people on your team who may be responsible for making or tracking the reclassification entries. You will receive a separate email with details for the Webinar.

    On May 23 we hosted a Webinar to review the seven SLA rules that had been corrected and for which re-class entries had been made at that time. You can view the recorded session on Cornerstone.

Action units should take

  • Review the Excel files posted on Cornerstone, which provide an overview of the re-class entries for SLA issue numbers 1, 2, 8 and 11, 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 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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