Balances Bug — Addressed 2/24/2016
- Cash Balances for Non-Sponsored Funds are not correct.
There are two significant bugs with the Non-Sponsored Account Balances. As a result we are hiding them until we can fix them. There is a complete description of the bug elsewhere on the site.
NOTE: The balances for the sponsored projects are correct as of the date they are loaded. Currently they are being loaded once a week on Sundays so they will match tne dashboards that are loaded nightly only on Mondays. (These dashboards include: RA Dashboards, Web Financials, and the Financial Dashboards). We expect to be loading the financial data nightly in the next few weeks.
Bugs in Non-Sponsored Account Balances
We have identified two signficant bugs in the balances of the Non-Sponsored accounts so we are hiding them until they are fixed.
Cash Balance isn't updated with recent PO Invoice transactions.
What we're showing is the "cash balance", basically the starting balance + income - expenses. It does not include items that have been invoiced but where the check has not been cut, even though the transaction is displayed on the transactions page.
Let me explain what's going on by going through the purchase cycle.
- When you order something, the financial people enter a PO and the amount of the PO is encumbered (or committed if you prefer that term). The cash balance doesn't change.
- Once the invoice is received, it is entered and a transaction hits the GL. We display that transaction in the PI Dashboard. At this point, before the check is cut, a liability is created, NOT an expense. The cash balance is still unaffected.
It is only once the check is cut, normally 30 days later, that the liability is changed to an expense and the cash balance is decreased. 30 days is a long time to be showing the "wrong" balance.
It is possible there are others issues. Our goal is to have the balances match the validated balances in Web Financials.
Hatch Accounts and other non-project inception to date budgeted accounts look like they are in deficit when they are not.
For non-project accounts, the PI Dashboard balance column shows the cash balance. For most accounts this is correct, but for inception to date accounts that are budgeted, like Hatch accounts are (which have a budget rather than a transfer-in), it is not. We should be treating these like budgeted accounts, the same way we treat project accounts. Unfortunately, since they aren't project accounts, we need to work through how to display them properly.
Note: the current bug list is on the FAQ page.