Financial Management and Accounting

What should I do if the Harvard chart of accounts (costing) string I want to use for a requisition is not available in Fieldglass?

Of the millions of possible Harvard Chart of Accounts (CoA) combinations (called CCIDs), a large number is selected and loaded to Fieldglass nightly so that they are available when requisitioning a contingent worker.  The CCIDs in Fieldglass include the most commonly used ones, as described in the Chart of Accounts Coding section of the Program Guidelines

However, if you need to use a chart of accounts combination that is not already in Fieldglass...

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How many costing strings can be entered when creating a requisition? Is there a limit?

No, there is no limit.  But here is a consideration.

When setting up a requisition, a hiring manager can “split code” it to an unlimited number of costing strings, to allocate the costs to multiple funding sources. These code combinations will “flow down” to the associated timesheets and be available for time reporting, but there will be no automatic allocation of the worker’s time across the funding sources. The contingent worker will need to be guided to report time correctly against each available funding source.

How do I select Harvard chart of account values to split-code a job that is charged to multiple account codes?

Job postings may be set up to be split-coded for initial budgeting and approval purposes. 

To do this, while in the “Cost Allocation” section of a job requisition, select +Add Segmented Object Detail to add Object Code, Fund, Activity, Sub Activity, and Root.  One of the cost strings will need to be selected as the Primary, and Allocation percentages will need to add up to 100%.

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How is overtime calculated for contingent workers?

Non-exempt (overtime-eligible) contingent workers will be paid at straight time for the first 40 hours worked each week, and at the overtime rate (1.5 x the straight time rate) for all time worked >40 hours in a week at Harvard.

Because Fieldglass will not calculate which hours should be reported (or paid) at straight time and which at overtime, time approvers need to make sure that contingent workers in this category correctly report hours at straight-time versus overtime. Yoh will also audit weekly for this.

If the role is defined as an “exempt...

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Is the rate card negotiable?

Yes. Hiring Managers can elect to see and hire candidates whose hourly billing rate exceeds the rate card maximum. Or, they can specify that they do not want to see candiates who exceed the rate card or an even lower hourly rate they have in mind. The rate card has been market-priced to provide guidance to Harvard managers. 

What will be the cost savings to Harvard schools and departments?

Overall we expect schools and departments will realize savings of 6-10% from three sources:

  • lower mark-ups (the % added to the worker's pay by the temp agency to arrive at the billing rate) on average;
  • standardized market-driven rate cards and the ability to compare the proposals of competing suppliers in real-time;
  • taking advantage of a quick pay discount of 1%. 

In addition, Harvard departments should see a reduction in administrative processing costs since invoicing will be automated.  At present, Harvard...

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Will I still receive a paper invoice from the Supplier when we go live?

Harvard will no longer receive paper invoices from suppliers in this model. This is one of the key advantages of the new process. Weekly approved time and expenses will automatically (electronically) flow to Harvard Accounts Payable from our Managed Service Provider (MSP), Yoh, and the invoice will be paid. We estimate the new process will eliminate the manual processing of 20,000+ paper invoices annually.

How will invoicing work?

An approved time sheet will be automatically converted to an invoice that is electronically sent from Fieldglass to Oracle Accounts Payable. Harvard will issue payment to Yoh for the invoice, typically taking a 1% quick pay discount. Information about the payment will flow back to Fieldglass, and, as with any other paid invoice, to the Harvard General Ledger and Data Warehouse.

What if a Contingent Worker will be working on several projects (with different billing codes)?

The Fieldglass requisition, and the related work order, can be set up to be split-coded to two or more Harvard account code combinations in the same chart of accounts tub. Once done, these code combinations are available for selection on the worker's timesheet. The worker will need to select the right one and report hours against it, typically with guidance from the Harvard manager.  If a contingent worker's assignment will be charged to two different tubs, two separate requisitions will need to be created.

How is a contingent worker associated with a 33-digit billing code?

One or more 33-digit billing codes will be associated with every requisition. When the contingent worker is hired, the requisition becomes a work order with the same coding. When the worker reports time, s/he will be prompted to report hours worked against the available billing codes, which have "flowed down" from the Work Order to the timesheet.

How does the model work financially?

Harvard has formed a business partnership and executed a Master Services Agreement (MSA) with a Managed Service Provider (MSP), Yoh. Yoh enrolls qualified suppliers to the Harvard program, and executes supplier agreements (contracts) with conditions that "flow down" from Harvard's MSA. The supplier agreeements specify standardized mark-ups on contingent talent that will be provided to Harvard through Yoh.

The Harvard Hiring Manager reviews the candidates proposed by the supplier(s) for assignment at Harvard, and accepts or rejects the billing...

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How will a hiring manger know how much to pay for contingent work?

Yoh and Harvard HR conducted a market pricing analysis to build the rate card for all the contingent worker job roles. This provides a range of rates typical for the Boston area. The rate card will be updated periodically. Price quotations from competing suppliers for each requisition will be an important source of feedback. Harvard-wide analytics that pinpoint what we are paying, on average, for each role will help Harvard refine the rate card and help everyone better understand fair market prices for the roles and level of talent we need.