Deposit Account Balance Statements & Top-up Invoices

Description

The balance statement is a year-end account balance projection issued every January. It itemizes anticipated expenses for the final quarter of the fiscal year.

A top-up invoice is an invoice that is only issued when the balance statement indicates a deficit. The invoice is issued for the amount of the deficit to balance the college’s account.

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 issues a top-up invoice which must be paid by the date indicated.

For a surplus:

OCLS subtracts 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