New software improves access to financial information
By Mark Kerr, Senior Communications Officer
A new tool aimed at improving financial reporting functionality is now available for use by researchers, departmental administrators, business officers and admin staff.
“The Fast Administrative Support Tool (FAST) is a welcome addition for the financial reporting community. Based on feedback we gathered from the training sessions and focus groups, users should immediately notice the ease and speed by which they can access the information they require,” says Caroline Davis, Vice-Principal (Finance and Administration).
The user-friendly software allows users to run four new financial reports:
• Project summary report for researchers and the non-research community
• A new statement of operations report
• A trust and endowment report
• A summary expendable balance report
“I am thoroughly enjoying these reports and I am really looking forward to using this reporting tool,” says Patrick Legresley, Associate Director, Finance, Queen's School of Business. “What a difference already.”
Michael Blennerhassett, an associate professor in the Department of Biomedical and Molecular Sciences, says the new tool addresses the frustration he has experienced managing multiple grants that contain several different types of grant accounts. The new financial reporting tool gives him fast access to each grant with the current balance immediately visible. Within each grant, he can identify the transactions and examine them further for date and origin. He can easily find totals for different types of costs over time and select different time periods.
“This is a tremendous improvement. It is really valuable for understanding how money is being spent, and allows informed decision-making on future costs of research,” says Dr. Blennerhassett.
Financial Services plans to introduce additional reports in the future and will work with stakeholders to prioritize development. Users who would like to submit a request for a new report can use the feedback form provided in FAST.
Users can access FAST by logging into MyQueensU/SOLUS directly from www.queensu.ca. Authorized users of the tool will find a section called Financial Reporting Information that contains a link to FAST.
More information about the new tool is available on the Financial Services website.