Business Services
Accounting Services
The Accounting Services Unit is responsible for maintaining the General Ledger Accounting and the Accounts Payable records of UW-Extension. Our goal is to assure that financial transactions are timely and accurately processed and that compliance is maintained with Generally Accepted Accounting Principles and University of Wisconsin System and State of Wisconsin laws, rules, and regulations.
General Ledger
UW-Extension converted its financial records to the UW-System Shared Financial System (SFS) at the start of fiscal year 2000-01.
Accounting Services is responsible for maintaining the revenue, expense and balance sheet accounts which make up the general ledger as well as the budgetary transactions posted to this system. We also maintain the shared financial web inquiry system (WISDM) which is used throughout Extension to access financial information.
Various chartfields (organization, subclass, project/grants), combination rules and trees are maintained to assure accurate reporting. We administer security for access to SFS and WISDM and provide training to users of these systems.
Programs are run on a daily basis to transfer purchasing, accounts payable and accounts receivable information to the general ledger. Adjusting and correcting entries (non-salary transfer payments) and budget transfers are posted to the system on a daily basis. Salary and fringe benefit information is interfaced from the payroll system on a regular basis. The timely processing of this data helps assure users have current information available in the financial reporting systems.
Accounts Payable
Accounting Services is responsible for the preaudit and payment of all invoices and travel vouchers. These include low dollar orders, direct invoices, invoices for requisitions to external (generally require a purchase order) and internal parties, academic support agreements, payment to individual reports and travel vouchers. Special care is taken to comply with the State's prompt payment legislation and to properly code the payments for subsequent tax reporting. Checks are printed on a daily basis. Additional information on processing accounts payable transactions can be found in the Business Services Policy and Procedure manual.
Purchasing Card
The UW-Extension purchasing card program has been established to provide a more efficient cost-effective method of purchasing and paying for low dollar transactions of under $5,000 per individual transaction. Cardholders are responsible for safeguarding their card and for complying with the provisions of the Purchasing Card Manual. Cardholders must maintain records for all purchases on a Purchasing Card Log Form and supporting documentation. Staff liaisons have been authorized to review the purchasing card transactions and assure compliance with program guidelines.