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The Account Balances/Detail Application is a means of communicating financial information between University units. It provides WSU Budget Statement information which permits the comparison of commitments (expenditures and encumbrances) with allocations and revenues.
Such comparison assists deans, budget administrators, finance officers and principal investigators in monitoring and controlling each project’s financial activities.
Personnel should check online Account Balances/Detail or the hard-copy Budget Statement monthly to make sure recorded commitments to the account are an accurate reflection of actual commitments as documented by the responsible department.
Using Workday Reports
The responsible administrator (dean, chair, etc.) may delegate to a specific office group or individual responsibility for carefully monitoring assigned accounts.
Personnel may use the Workday reports and project transaction records in Workday to get a relatively current accounting of project allocations, revenues, encumbrances and expenditures. An accurate accounting of a project’s financial status is critical when the project is nearly out of money or when the end of the fiscal year or agreement period is near.
Refer to BPPM 30.06 for suggested reconciliation procedures.
See the Using Workday Reports reference guides for instructions for accessing and using the various types of Workday reports.