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Edit - Deposit Account Balance Statements & Top Up Invoices

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Description

The Balance Statement is a pro forma year-end account balance projection that OCLS prepares for the colleges every January. The Balance Statements itemize anticipated expenses for the final quarter of the fiscal year.

Actions for Colleges

  • Review your balance statement closely. If you see an error or want to change your upcoming account activity (e.g., add or cancel an acquisition), then contact us immediately. Changes to your Balance Statement must be submitted by the deadline in the eResources Calendar.

  • If your statement shows a surplus or deficit, you have additional steps to complete as outlined below.

For a deficit

OCLS will issue a top-up invoice which must be paid by [add date].

For a surplus

OCLS will subtract your year-end balance from your April invoice, unless you select from the following options:

  • Spend it on new acquisitions

  • Transfer the surplus to the next fiscal year

  • Request that an upcoming expense currently set to be paid by separate invoice is paid with deposit account funds instead

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