To: Campus Unit Finance Leads
From: Beth McAndrew, Director of Financial Reporting & Management Services
In order to meet the FY23 Governmental Accounting Standards Board (GASB) reporting requirements, many of you have recently been asked to create change orders to existing Purchase Orders to adjust the account codes which concern IT Cloud Subscription services.
Please keep in mind that only P.O.s that will have invoices in FY23 should be updated. Also, BuyCarolina orders cannot be updated.
In order to ensure that the change order request is properly routed for departmental approval and that the resulting change in account code does not create encumbrance issues, Purchasing needs these requests to come through on funded requisitions, following the steps listed below:
- Review the current P.O. and determine the amount of money on each line that needs to be updated with the new Chartfield String. If the P.O. is complete or will not have continuation of payments into FY23, then there is no need to make this change.
- Create a funded requisition with a new line for each line being changed on the P.O., with the new Chartfield String and amount. In the line description state which line in the P.O. this line replaces. (e.g., “New line to replace line 5 on the P.O.”)
- Indicate the P.O. number and the line numbers of the lines that should be liquidated in the comments section of the requisition when the new lines are established. (e.g., “Please liquidate lines 3,5,6 and 7 which will be replaced by the 4 lines on this requisition.”)
- Please name your requisition “Acct Code Change to PO YXXXXXXXXX” in the Requisition Name Block.
For more information on the Cloud-Based Service subscriptions and also FY23 GASB requirements on lease agreements and how to proceed with those changes, please see the April 2022 GASB Update.
For questions about submitting change orders on funded requisitions, contact email@example.com.