Financial Service – Questions & Answers
Contents
1. Q6 A6 Q7 A7 Q8 A8 Q9 A9 a10 A10 Managing Budgets What report can I run to give me the balance in my cost centre The RU Revenue Expense 3 Selections Reports will supply you with both the overview and the account details Log onto the financial system and select your General Ledger responsibility From the reports screen select the RU Revenue Expense 3 Selections report Complete the parameters and submit the report When are we closing the General Ledger GL The closing schedule for OGF can be found on the Financial Services website It is normally at the end of the first business day of the following month For further details see http www ryerson ca financialservices index html What type of support is expected of the RASO Research Administration Support Officers RASOs are the first point of contact for Researchers seeking financial assistance They provide financial reports enter iExpense claims and address any concerns questions that Researchers may have Can I use a Secured Digital Signature Signature stamps and digital signatures are not acceptable Original signatures are required What can I spend my PDF on Please refer to the PDF guideline If the policy does not address the question please contact the Office of the Vice President Faculty Affairs http www ryerson ca content dam teaching documents pdrf PDRF_procedures_2012 pdf How can I obtain a detailed salary report Please conta2. receive the EFT deposit to your bank account late Tuesday or early Wednesday morning An email alert will be sent when an EFT payment has been issued to you Is it possible to arrange payment to vendors by wire payments The standard payment method for University suppliers is by cheque or EFT Wire transfers should only be used when it is the only acceptable method of payment or funds must be transferred immediately Please contact Accounts Payable for special instructions Why is our payment to a vendor or individual delayed even with a Purchase Requisition PR or Cheque Requisition CQ Note that Ryerson has a Net 45 day payment policy Reasons for payment delays to vendors individuals include New vendor set up is required Outstanding approvals signatures CQ Incomplete distribution coding CQ No Purchase Order PO number stated on the invoice Invalid Purchase Order PO number Actual follow up submission of official Invoice via fax and or delivery of hard copy to FS Invoice attachment to PR does not initiate the invoice for payment processing Confirmation of goods and or services received and approval to pay the invoice is required for invoices over 5000 via Mark view How do process payment for an invoice received Invoices can be paid via the Purchasing Card P Card by processing a requisition in the financial system All invoices are scanned into the system Invoices over 5000 will be electro
3. Select button Remember to click the Save icon Q7 A7 a1 A1 Q2 A2 Q3 A3 am going on vacation How do forward my inbox so that documents continue to get approved in my absence Log onto the financial system at www ryerson ca ogf and click on the Oracle link Select iExpense or iProcurement Notifications Select Vacation Rule Tip located at the bottom of the form Select Create Rule You may create a vacation rule for all types of documents or specific documents Click the NEXT button and then enter the start and end dates Enter a message and select the name of the individual to whom you wish to forward the documents Select Delegate Your Response When you are delegating to someone that is a subordinate or peer this option will give the delegate your approval limits Select Transfer Ownership if you are creating the vacation rule to send your documents to someone above you in the hierarchy i e manager Click on Apply Step by step instructions are available online at www ryerson ca ogf iExpense iExpense still says my report is pending receipts An expense report will not be forwarded to your approver until the receipts have been electronically received There are 3 recommended methods of attaching receipts e Email receipts directly from the barcode page using the Email Receipts link e Scan all your barcode amp receipts as PDFs and email the package to iexpense ry
4. a1 A1 Q2 A2 Q3 A3 Q4 Q4 Q5 A5 Q6 A6 Financial Service Questions amp Answers Updated Jun 26 2015 Systems The Oracle login page is not loading Financial system users must use RU VPN to access the system from the academic or wireless network To use RU VPN please download and install RU VPN on your computer and obtain an RU VPN login ID and password from the CCS Helpdesk Details on obtaining this software are available from http www ryerson ca ccs services connections secure connection ru vpn html GL forms are not popping up The financial system uses Java and users must allow pop ups in order to access the system Some common issues can be resolved by clearing your computer s cache disabling pop up blockers uninstalling a Java update and then re logging into the financial system For details please review the Troubleshooting Documentation located on the following page http www ryerson ca financialservices about systems index html forgot my password Call the helpdesk at ext 2688 to reset your password A strong password contains a minimum of 6 characters including at least one non alpha character i e a symbol As financial system passwords expire every 35 days we recommend that you select a minimum of two strong passwords and alternate between the two How do get access to the financial systems Complete a System Access Request form available online from https ryer
5. an invoice that has been billed to Ryerson University Note that the Purchasing Card BMO Mastercard may be used for one time purchases under 5000 if the vendor accepts this method of payment Sometimes vendors provide their own PO s instead of the Ryerson PO The PO must be based on the purchase requisition submitted by the department requesting goods and or services and as such only the Purchasing Unit has the authority to issue a PO number on behalf of Ryerson University When a PO is generated does that mean that the invoice has been processed and paid When a Purchasing Agent creates a PO payment is not initiated for any invoice Any documentation received on the purchase requisitions is used as information only to create the purchase order The vendor is responsible for submitting an original invoice with the PO number to Ryerson University Attention Financial Services The original invoice will be scanned into the financial services system which will trigger the payment process Do I need separate PR POs or can I create one PR for all of the invoices It is preferable to have one purchase requisition PR for each vendor That said multiple invoices for the same vendor can be combined together under one PR number as long as each invoice has a unique number If multiple quotes are required for a specific purchase they can all be attached to one purchase requisition a1 A1 Q2 A2 Q3 A3 Q4 A4 Q5 A5
6. count this fiscal year From time to time a spending level will be authorized by a resolution of the Board of Governors The spending level allows investment income to be used to support the endowment commitments Spending will commence once the endowment has existed for at least one full year Unspent amounts in the expendable account at year end will return to the stabilization fund unless an exemption is requested by the Ryerson account holder and is approved by the Executive Director Financial Services The current spending rate is 3 5 of the 36 month moving average of the endowment market value Accounts Receivable Can you re issue the A R invoice to a different client and or change the amount due All A R invoices are generated by the source document provided from the originating department Any changes requested will be processed after verification by the originating department To change the amount due or to invoice a different client the original invoice will have to be cancelled How can I use e Ply to facilitate my upcoming conference registration and payment process E Ply Ryerson s online event registration and payment system is available to all departments for events that they are hosting and or coordinating The department must have a Ryerson University cost centre so that the amounts collected can be deposited credited As soon as you begin planning the event and have the details on your event contact Financial Services Sys
7. ct Marion Sharp or Stephen OBrien in HR You may also request to have HR report access granted to you via HR What does the encumbrance amount in my report represent The encumbrance amount reflects an expense commitment that you have made It allows you to recognize future commitments of resources prior to the actual expenditure being incurred For example when you hire a student the system will encumber the value of the contract for the period of the contract How do check if a budget transfer has been processed The RU GL Budget Report will supply you with details of all budget transfers Log onto the financial system and select your General Ledger responsibility From the reports screen select the RU GL Report Complete the parameters and submit the report You can also view the G L inquiry screen to check for transfers How can use the funds in my trust cost centre If you are an academic department contact your DOD Director of Development He she will provide you with a copy of the donor agreement If you are an admin department contact your Financial Advisor for details What benefit rates are applicable to each salary category Benefit rates vary from year to year Please contact your Financial Advisor and or your Financial Analyst to get an annual benefit rate schedule a1 A1 a1 A1 Q2 A2 Q3 Q3 a1 A1 Managing Trust Funds What is the amount available to spend from the endowment related trust ac
8. edited When will a cheque be issued for the CQ invoice Our current service standards state that internal invoices e g cheque requisitions or reimbursements for business meal entertainment and travel advance expense statements require 15 days to complete payment processing Our standard terms of payment for vendors is net 45 days sent in my form with all documentations Why did Financial Services lose them Financial Services cannot guarantee receipt of documents if they have been sent via Canada Post or Internal Inter Office Mail We recommend that original documents be hand delivered to Financial Services Reception at 1 Dundas Street West 9 Floor Can I or a supplier pick up my cheque directly from Financial Services Financial Services does not have the required security to enable pick up of vendor cheques at Reception Instead these cheques may be picked up at the Faculty and Staff CASH OFFICE POD 66 in Jorgenson Hall Individuals who work at 1 Dundas can pick up their cheques from the Financial Services reception desk An advance was overpaid How do return money owed to Ryerson To reimburse Ryerson University for an overpayment of an accountable advance please send a personal cheque payable to Ryerson University to Mary Jane Pacheco Manager Payment Services Financial Services YDI 941 Kindly provide the advance number to be cleared How can I have more than one advance at the same time In the past multip
9. endor 3 total purchase amount Each request is reviewed individually to determine eligibility for a Why was a recent transaction on my P card declined There are two major reasons for declined transactions 1 The transaction is over the per transaction limit or monthly limit 2 The purchase is considered as prohibited under Ryerson s P card policy have changed the account code while reviewed the transactions online Why are the changes not reflected on the general ledger Reasons for unsuccessful changes of account code on BMO details online include 1 Changes were made after the deadline 20th of each month 2 Changes were made without following the instructions specified on BMO Details online User Manual e g incorrect identifiers or incorrect non existing cost centre account code forgot my password for BMO details online website How do reset it Cardholders can reset their password through the BMO details online website or by sending an email request to the Payment Services Card Administrator at chifung terence kong ryerson ca Your BMO login will be suspended after 3 unsuccessful attempts to enter your password Can a P card approver delegate the approving authority to his her administrative assistant We recommended that Approvers do not delegate to lower level of authority If there is need to do so Approvers should send an email to the Payment Services Card Administrator requesting a delegation of appr
10. erson ca e Fax the barcode and receipts to 416 979 2739 Note that you have 96 hours 4 days to submit your receipts electronically If no receipts are received within this window the expense report will be rejected automatically by the system and will need to be resubmitted My expense report has been rejected How do I resubmit it Does your expense report need to be adjusted before resubmitting it Please see answer to question 6 Log into the financial system at www ryerson ca ogf and click on the Oracle link Select iExpense Scroll down to the Update Expense Reports section and select the Update icon for the rejected expense report Proceed through the iExpense steps to resubmit the expense report How do adjust my expense report and resubmit it for approval Log into the financial system at www ryerson ca ogf and click on the Oracle link Select iExpense Scroll down to the Update Expense Reports section and select the Update icon for the rejected expense report Make all required adjustments and proceed through the steps to resubmit the report OR If your expense report has not been rejected you may withdraw the expense report Go to the Track Submitted Expense Reports section found on the iExpense home page Select Withdraw This will move the expense report into the Update Expense Reports section of the form From here select the Update icon for the rejected expense report Proceed through the iE
11. le advances were processed and paid out to the same employee This is no longer the practice as it has caused outstanding advance clearing issues The Dean is on vacation How can get this expense approved The Dean should delegate his her approval via the system for the duration of his her vacation submitted an iExpense claim and just realized it was incorrectly processed under my name Can fix this without redoing it You cannot change the name on the expense report The expense report needs to be withdrawn and resubmitted See Q3 under iExpense for tips in withdrawing an expense report A cheque was not delivered to the correct department How do we place a stop payment on the original cheque and have a new one issued If your cheque has been lost or destroyed and needs to be re issued please send an email to the Payment Services Manager mpachec ryerson ca Mary Jane Pacheco Payment Services Manager Kindly provide the Payee Name Invoice Document Number Invoice Date and Amount If your internal office address needs to be updated in the financial services system please send an email to rufishelp ryerson ca a1 A1 Q2 A2 Q3 A3 Q4 A4 Purchasing Services We didn t have to provide PO s before Why do we need to provide you with a PO now and since when has this been the company policy In accordance with the Purchasing Policy a purchase order PO number is required to enable payment processing of
12. nically returned to the requestor for approval prior to payment to the supplier How can inquire about the status of a payment Please send invoice inquiries to INVOICES RYERSON CA What happens when a payment is placed on hold An email will be sent to the iExpense claimant for iExpense claims on hold or to the department contact person for invoices on hold explaining the reason for the hold Q9 A9 Q10 A10 a11 A11 Q12 A12 Q13 A13 Q14 A14 Q15 A15 Q16 A16 Q17 A17 Q18 A18 Why are invoices and cheque requisitions cancelled when the same invoice number is used more than once The Financial Services Oracle system will not permit the same invoice number to be created for the same vendor name It is flagged as a DUPLICATE invoice during validation process and cancelled accordingly if it is determined to be a duplicate invoice number for that vendor No contact with the vendor or user department is initiated as we often receive duplicate copies of invoices scanned into the Financial Services system It is important that each invoice and or cheque requisition has its own number Can we change our Net 45 day terms for payments to either suppliers or staff Please contact the Purchasing Agent regarding PO terms and conditions For internal invoices e g cheque requisitions please send an email to INVOICES RYERSON CA with the vendor name CQ number and reason for payment to be exp
13. nnot enroll for future courses until their past due account is paid in full Collection staff and management will try to assist the student by exploring other options to obtain funds from other sources am being charged late fees Why do I have to pay Current university policy provides that late fees are applied to all past due student accounts at a rate of 1 25 per month Under this policy students are obligated to pay late fees have dropped all of my courses for the current semester so why do still have outstanding fees In nearly all cases this is a result of the student failing to drop their courses by the published deadlines for doing so The dates are published online and in printed material It is the student s responsibility to be aware of course drop dates and act on them in order to avoid having to pay late drop fees Q7 A7 Q8 A8 Q9 A9 Q10 A10 My account has been sent to a collection agency Can I deal with Ryerson instead the collection agency Student accounts are handled by Ryerson s internal collections team for six months If no progress has been made during this six month period the student account is assigned to an external collection agency and all payment arrangements with the collection agency from that point forward paid my account in full at the collection agency need to enroll in courses immediately but there is still a collection hold on my account Can you remove it Collec
14. oval authority My P card Approver is going on vacation for over one month How can my P card transactions be approved before the deadline The Approver can approve the review transactions online after returning to the office However the Cardholder is required to update the account codes before the deadline when reviewing the transactions online Otherwise all the transactions will be charged to Cardholder s default cost centre account code Any corrections after the deadline will need to be processed via a journal entry a1 A1 Q2 A2 Q3 A3 Q4 A4 Q5 A5 Q6 A6 Q7 A7 Q8 A8 Payment Services How can I determine if a particular cheque been cashed yet If the cheque has been cashed Financial Services can provide a copy of the cancelled cheque If the cheque has not been cashed yet please complete an indemnity form and request a replacement cheque Please call the AP Inquiry Line at 416 979 5010 or send an email to INVOICES RYERSON CA Why do I have to submit a void cheque to setup Electronic Fund Transfer EFT for expense reimbursement when HR already has my bank account details HR keeps the bank account information for payroll purposes EFT is meant for i Expense reimbursement claims The two functions are managed independently When will funds be deposited in my bank account if I change to EFT payment method EFT payment runs are done once a week on Tuesday Normally you will
15. re are different types of collection holds that can be placed on a student account when the students account balance exceeds 100 00 past due Some account holds are manual and others are system generated The main collection account holds are applied as follows SF2 hold is system generated and applied at 31 days past due This hold prevents the accessing of grades transcripts graduation documents and other services until the account is paid in full A student can still add or drop courses COL hold is manually applied by collection staff at 61 days past due This hold prevents the further enrollment accessing of grades transcripts graduation documents and other services until the account is paid in full SF1 hold is system generated and applied at 121 days past due This hold prevents the further enrollment accessing of grades transcripts graduation documents and other services until the account is paid in full AGN hold is manually applied by the Collection Manager at 181 days past due and indicates that the student account has been sent to a collection agency This hold is only applied when a student cannot be contacted is ignoring attempts at contact refuses to pay or has not entered into a regular payment plan to pay their balance This hold prevents the further enrollment accessing of grades transcripts graduation documents and other services until the account is paid in full have applied for OSAP but won t qualify for funding
16. s purpose of collecting an overdue account e Collections must disclose student account and personal information if required by law to do so
17. sonfs wufoo eu forms financial system access The form must be authorized and forwarded to Financial Services attn Systems and Training Some access requires that you complete mandatory training prior to gaining access iExpense training recommended session 3 2 iProcurement training required session 3 1 General Ledger training required sessions 1 1 1 5 For financial services training sessions please register online at https hr cf ryerson ca training How do change the default approver on a requisition that am preparing At the Approvals page step 2 of the checkout process select Manage Approvals Insert Approver allows you to send the requisition to one additional person before the requisition continues through the approval process Change Managerial Approval allows you to select a new approval change Select the new Approver s name and click the Submit button A review of the new approval process will be displayed for your review How do give someone access to create expense reports on my behalf Log onto the financial system at www ryerson ca ogf and click on the Oracle link Select iExpense Select the Access Authorization tab in the Expenses Entry Delegations section Select Add Another Row Click on the flashlight icon and enter the last name of the individual to whom you wish to grant access If more than one name is found a list will appear select the name by clicking on the Quick
18. tem amp Training Unit Michael Niziolomski at mniziolo ryerson ca or at extension 4109 Although it does not take long to set up the event registration page the work must be done in advance to ensure the registration page is available on the date that your registration opens How should I bill external clients for goods and services provided Accounts Receivable is responsible for billings initiated by the University All University departments that provide goods and or services to customers on a credit basis or are involved with invoicing sales services are required to utilize the central billing system under the administration of Financial Services As part of these responsibilities Accounts Receivable provides the billing departments with support in managing the receivables including aging reports and collection Petty Cash What is the maximum dollar amount that I can get reimbursed from petty cash There are two types of petty cash funds a centralized fund in the Faculty and Staff Cash Office and a departmental faculty petty cash fund under the oversight control responsibility of a manager director or dean Petty cash can be used for purchases up to 100 The Faculty and Staff Cash Office maintains a centralized petty cash fund for reimbursement of purchases of 100 or less per department per day a1 A1 Q2 A2 Q3 A3 Q4 A4 Q5 A5 Q6 A6 Student Collections Why is there a hold on my account The
19. tion holds cannot be released until Ryerson receives your payment from the collection agency Collection agencies pay Ryerson in the month following the month in which a student pays their account E g If you pay your account in September Ryerson will receive payment in early October Once we receive and apply your payment in full all account holds will be removed Who do contact with questions about my past due student account For general questions about collections call 416 979 5071 or email collections ryerson ca To discuss your account specifically call 416 979 5000 and select the extension of the person below that manages your account by your last name Last names A to C Mr P Faught ext 7667 Last names D to Mrs G Bortolussi ext 7796 Last names J to M Ms G Davis ext 4568 Mr Last names N to SA B Wolski ext 7615 Last names SB to Z Ms V Chamberlin ext 2866 With whom can collection staff discuss my student account Collection staff cannot not discuss disclose or transmit in any fashion information about a student s account or any other personal information about a student with anyone but the student except in the following cases e The student gives Collections express and specific written permission to discuss their account with a third party e g a parent e Collections can provide information about a student account and personal information to Ryerson s contracted collection agencies for the expres
20. unless can enroll in the current semester have a past due amount from a prior semester Why can t enroll in the current semester Whether or not a student receives OSAP is solely based on proven financial need Ryerson has no control or input as to whether a student receives OSAP funding As such collections has no guarantee that the student will actually be funded and will not lift an account hold to allow enrollment until past due amounts are paid I am having financial problems What is the minimum I can pay to clear my account arrears The Collections team is aware that students have financial problems from time to time and will allow a student a payment plan to pay account arrears Any payment plan will require that the student commit to a regular payment e g monthly patments Any payment plan offered by a student must take into account that late fees are added to the account monthly therefore a monthly payment plan must cover the late fees and pay down the principle amount as well Collection staff will advise students on the payment amount required to pay against the principle and late fees Students who are granted a payment plan must honour it and take note that further enrollment access to grades transcripts graduation documents and other services will be blocked until account arrears are paid in full have been denied OSAP and have no other source of income What should do and how can get into more courses Students ca
21. xpense steps to resubmit the expense report a1 A1 Q2 A2 Q3 A3 Q4 A4 Q5 A5 Q6 A6 Q7 A7 Q8 A8 Q9 A9 Q10 A10 Purchasing Card P Card How long will it take to get my P Card after submit my application It will take approximately 2 weeks upon receipt of the completed Financial Services Systems Access amp Approval form What is my P Card per transaction and monthly limit Please email the Payment Services Card Administrator at chifung terence kong ryerson ca to confirm per transaction and monthly P card limits changed positions at Ryerson Which form do use to cancel my P Card Please submit a Card Close Notification form to cancel your P Card My approver has changed Which form should complete to update my P Card record Please submit an Approving Official Agreement form to update hierarchy changes Can I use my P card to pay for on campus catering services such as Oakham House You may not use your P Card for purchases related to Faculty Staff business entertainment including restaurants banquet halls etc However if these expenses are for student events Cardholders may request a one time unblock to be able to use their P card Email this request to the Payment Services Card Administrator at chifung terence kong ryerson ca cc ing your P card Approver The request must include this information 1 nature purpose of purchase 2 name of v
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