Accounting Services struggled in the past with departments turning in accurate deposit forms in a timely manner which led to manual follow ups and reconciliation delays. Wendy Reese and her team designed a process to automatically recognize revenue when deposits settle in our university bank account. The revenue is recognized in each departments budget by using a default fund, cost center, and account. This change will eliminate delays in reconciliation of our cash accounts, reduce manual follow-ups and drive further efficiencies over time.
Fellow Change Agents:
Wendy Reese, Erin Monaghan, Reggie Mitchell II, Stephanie Rasys, and Susan Desch
Impact of idea:
$20,000 in annual productivity savings
