Services provided by the business process owners (BPOs)
| Accounts Receivable |
Services provided |
Customer File Maintenance |
Create or maintain customer within two business days. |
Finalize, Print & Mail Bills |
Once bill is in "ready" status, bills will be finalized, printed and mailed within two business days. |
Payment Application |
Apply identifiable payments within two business days of receipt. |
Billing Module Item Maintenance |
Process change within two (2) business days. Includes:
- Charge Codes
- Distribution Codes
- Bill Source details
|
| Accounting Services |
Services provided |
ChartField Program Maintenance/Entry |
Create or maintain Program values within ten business days. |
ChartField 1 (CF1), ChartField 2 (CF2), and FinEmplID Maintenance/Entry |
Create or maintain CF1, CF2, FinEmplID values within five business days. |
Allocations |
Based on established submission deadlines, setup and approval of allocations within ten business days. |
| Journal Approval (>$30K) |
Manual journal entries will be either approved or denied within three business days, depending on volume of journals. |
| Payment Vouchers (>$50K) |
In all cases, all journals will be approved or denied prior to the general ledger cutoff for a period end.
Reviewed and either approved or denied within two business days. |
| Disbursement Services |
Services provided |
Express/Manual/Off-cycle Payments |
Based on established submission deadlines (processed, approved, and received in Disbursements by noon) for a same day check. |
Vendor File Creation & Maintenance |
Create or maintain vendor within 3 to 5 business days. |
Imaging |
Image processing completed within 3 to 5 business days. |
| Purchasing Services |
Services provided |
Procurement Reconciliation and Oversight (Month-End & Year-End) |
Close all un-sourced, below the threshold requisitions aged more than 6 months AND close requisitions with $10 or less remaining unsourced.
Close all Purchase Orders where receiving and voucher processing have been completed and < $10 remains. |
Ship To location code |
Create or maintain Ship To location code within two business days. |
Contracts for Professional Services related approvals |
Take action on or approval contracts within three business days. Contract details may include but are not limited to:
- Evidence of Price Reasonableness
- Scope of Work
- Basis for Contractor Selection & Price
|
| Asset Management |
Services provided |
Asset maintenance |
Update/add donated asset within two business days, dependent on the completeness of information provided by unit(s) involved. |
Sell assets outside the U of M |
Provide Fair Market Value within two business days. |
Questions?
Contact the University Financial Helpline 612-624-1617 or finsys@umn.edu
