Prior to reading the instructions on the BUY.IU Aging report, it is beneficial to review the following sections of the IU Accounting Standards Book to gain foundational information along with report requirements and best practices:
The BUY.IU Aging Report tracks the suppliers an IU entity owes money to, how much is owed and how long the entity has owed the debt. The balance shown on the aging report represents unpaid purchases that a department, RC or campus has made to operate a specific activity. Running the BUY.IU Aging Report regularly ensures invoices are approved for timely payments to the correct suppliers, in addition to, upholding the integrity of the liability section of the university’s balance sheet.
The BUY.IU Aging Report contains four tabs, the BUY.IU Aging Summary, BUY.IU Aging Detail, Aging Help and Report Parms.
BUY.IU Aging Summary: The Summary Aging shows the condensed version of all outstanding invoices that have not been paid as of the date specified in the report parameters. This tab displays the payable information in aging buckets ranging from less than 30 days to over 90 days, and breaks out the invoices by status, volume of transactions and invoice amount.
BUY.IU Aging Detail: The Aging Detail shows all invoices outstanding that have not been paid as of the date specified in the report parameters. This tab shows invoices at an individual level with more detail on the specifics of the invoice, how it is recorded, and similarly, presents the amounts due in aging buckets. The tab also includes direct links to the BUY.IU invoice.
Aging Help: The Aging Help tab provides brief definitions for each BUY.IU invoice type and explains the breakdown of the Aging Buckets at a high level.
Report Parms: Summarizes the parameters selected on the report parameter page within the Controller’s Office Reporting Tools app, including as of date, chart code, and account information. Since BUY.IU searches retrieve real-time data, it is important to remember reports produced in the Controller’s Office Reporting Tool are one day in arrears. The reporting tool uses data stored in the DSS tables, which are updated nightly. BUY.IU Financial Reports with an as of date parameter set equal to the current date will not match BUY.IU search results for the current date.
Understanding the BUY.IU Aging Report
Invoices, Credit Memos and Check Request Invoices that appear on this report will be in two different statuses.
InProcess: Invoices that are still in workflow routing (enroute) will show a status of InProgress. Since these invoices have not been approved to the OK to Pay workflow stop, these transactions will not appear in the general ledger.
Payable: Invoices that have been approved for payment will have a status of Payable. These invoices will appear in object code 9045 and various expense object codes.
The BUY.IU Aging Report total balance shows part of the general ledger balance total. In order to calculate the general ledger balance (for the BUY.IU related expenses), the following calculation should be used:
Note: BUY.IU expenses in the general ledger have a System Origin Code =’BY’
The BUY.IU Aging report can be accessed from this page - refer to the top right blue button labeled "Go to Report" which will automatically redirect users to the report within the Controller’s Office Reporting Tools.
In addition, the report can be found in One.IU.To find the report, search for “Controller’s Office Reporting Tools” in the search bar, and select Controller’s Office Reporting Tools (Report Center) in the drop down menu. Mark this task as a favorite by clicking the heart icon next to the start button and then select Start or click on the title.
Once in the Controller’s Office Reporting Tools, users will see all available reporting tiles. Navigate to the Liability folder. A new tile opens, which displays all the available reports. Select the BUY.IU Aging report.
Running the Report
Define the search parameters to return results relevant to your organization or to a specific account. The search parameters available in the BUY.IU Aging Report are divided into three parameter types: chart of account report parameters, report specific parameters and display parameters.
If there are questions related to running the report, requirements or reviewing results, please contact your (RC) fiscal officer or campus office. Each campus may have individual specific requirements related to BUY.IU Aging Report, be sure to reach out to the related campus office or fiscal officer prior to quarter closings.
General Notes: Do not include any special characters other than approved wildcards in any of the below parameters. Additionally, do not run reports by campus as it will take up valuable computing services.
Several parameters are available to assist users. Users can enter the responsibility center (RC) code, organization code, and account number(s) for their respective organization. In order to prevent long run times, users are required to enter at least one Chart of Accounts Parameter in conjunction with any other parameter, i.e. As of Date and Organization Code or Account Number and BUY.IU Invoice Number.
If unsure, several of the parameters have a valid values function which displays the available codes and corresponding descriptions
By entering in an ‘As of Date’ users should be able to reconcile back to their financial statements (if they also run the BUY.IU Aging and Departmental 9045 Reconciliation Report as of the same date.)
Used to limit to a specific RC. Users are encouraged to use this parameter in conjunction with a chart of accounts code. For assistance determining your RC code, refer to KFS RC Search.
Used to limit report to a specific organization code. Users are encouraged to use this parameter in conjunction with a chart code.
At this time, Buy.IU is not configured to allow organizational hierarchy reporting. For example, if the user entered BA-RPAS the report would not return any results. In order to see all of the data for BA-RPAS, the user would need to enter all of the individual organizations. However, a user can save the parameter set (with all of the individual organizations) for the next time they need to run the report to avoid having to rekey them each time.
Limits report to one or more specific sub-fund group(s).
A report specific parameter is a parameter that is limited to a single or small group of reports. For example, on the BUY.IU Aging report users would expect to see a parameter to isolate the report data by BUY.IU Invoice Number, but that is not likely to be applicable on the majority of other reports.
Parameter
Description
BUY.IU Invoice Number
By entering a single BUY.IU Invoice Number, the user would be able to identify the invoice type and the invoice status. Note: If the invoice has been paid, it will not appear on the BUY.IU Aging Report.
Min Age
Limits report output to exclude invoices prior to date entered. For example, if a Min Age of 60 is entered, the report eliminates all invoices aged up through 59 days old.
Max Age
Limits report output to exclude invoices older than the age entered. For example, a Max Age of 60 will eliminate all invoices 61+ days old.
Display parameters are parameters that define and restrict the visual presentation of the BUY.IU Aging report. They are found on the lower part of the parameters.
Parameter
Description
Include Hyperlinks in Excel Output
Check/Uncheck – If the user checks include hyperlinks in excel output, the report will include links within the excel version and the user will have the ability to drill down for additional detail.
Note: When using this parameter, user may need to click the “Enable Editing” button in the Excel report output in order to display dollar amounts.
Click Save Parameter Settings to save your parameters for future use of this report. For instructions on how to save settings, review the Save Parameter Settings document on the Controller’s Office Reporting Tools page.
