UCO’s Implementation
of Oklahoma House Bill 1086
HB 1086 requires “Payments
disbursed from the State Treasury
shall be conveyed solely through an
electronic payment mechanism.”
How does this affect UCO?
• All payments received by UCO from any State Agency,
including ourselves, will result in a wire transfer to our
clearing account at the Office of State Finance.
• All payments submitted from UCO to any State Agency,
including ourselves, will result in a wire transfer to that
Agency’s clearing account at the Office of State Finance.
How will UCO receive payments
and make deposits to Banner?
• The State will make a transfer to deposit the
payment from the paying Agency into UCO’s State
clearing account.
• The Accounting Department will determine where
the funds belong and make a Banner entry to deposit
the funds.
• You will receive a Deposit Receipt via email.
How will Accounting be able to determine the
Banner Organization to receive the funds?
• The Accounting Department has set up a new section
of the ADMIN PORTAL entitled “Acct Receivable”.
• When any Department on campus is initiating an
invoice outside the University, they will complete
“Add Vendor Billing Record” in the Admin Portal.
- The Billing Record will include ALL outside invoicing
and will NOT be limited to only State Agency invoicing.
- This procedure will assist the Accounting
Department with outstanding accounts receivable
and also the ability to identify payments, outside
the State Agencies, made with paper check.
• Your invoice sent to a vendor that is a State Agency
MUST include the UCO State Agency number and
UCO State Location code.
1. These two numbers direct the State where to make
the transfer in UCO’s State clearing account.
2. If these numbers are not on the invoice, the funds
could easily be misdirected.
• Adding a Billing Record will populate a listing of all invoicing
outside the University called “Outstanding Vendor Billing.”
• When a payment is received, it will be matched to an
Outstanding Vendor Billing record.
• This record will be edited by the employee that
receives the payment by entering the “Date
Received” and “Received By”.
• If the payment was received through a State transfer,
the Banner journal entry or receipt number will be
included.
• When the record is marked “Received” it will
populate to the “Received Vendor Billing Record”.
• “Acct Receivable” tables will be available for employees to view to track
their receipts.
Payments from UCO
to other UCO Departments
On Campus Service Requests
or Banner generated invoices
• These requests will continue to process through
Accounts Payable and generate claims.
• No paper check will be received, wire transfers only.
• These payments will be applied by Accounting and
you will receive a Deposit Receipt via email.
How is this new State procedure to be
implemented at UCO?
• The Accounting Department is providing training
opportunities on the Admin Portal.
• This training will be available to all employees and
not limited to only those initiating invoices.
• This new procedure will be effective immediately.
In Conclusion
• This new process is State mandated by HB1086 and
is currently in operation.
• Because of the State mandate, this is not optional for
UCO departments.
• Departmental compliance with this procedure is the
only way for the Accounting Department to correctly
apply payments received in a timely manner.
QUESTIONS?
Contact:
Kathy Constien x5600 or kconstien@uco.edu