Office of Finance

HMS Office of Finance

Welcome to the Office of Finance Website!


View the FY14 HMS Key Financial Planning, Reporting and Compliance Activities


Oracle Fixed Assets (OFA) system will go live at HMS on July 1, 2014.  OFA will replace our current equipment management database, the Medical Area Equipment System (MAES). The new system is an opportunity to merge our equipment management and tracking tools with Harvard’s accounting system university-wide, which will result in increased efficiencies.

In preparation for Harvard’s transition to the new fixed assets system, access to MAES will end on May 9, 2014 at 5 PM.  This is a necessary step in order to prepare the MAES data for conversion.  For those impacted, we ask that you complete the following by May 9th:

  • Return completed inventory worksheets.
  • Review and reconcile all untagged transactions.
  • Review any WIP projects currently open, and if the projects are completed, place the WIP items in service.
  • Submit all requests for equipment disposals.

During the period of May 12 – 16 we will be completing a review of the data submitted, and you may be contacted with final questions before we begin the conversion process.

Training for the new fixed asset system will be conducted in June, and you will have access to the new system beginning July 1st.  What steps should you take during the interim May – June period?

  • Review your Detail Listing Report from CREW for new additions in the 68xx object code series.
  • Use the AP Adjustment tool to correct any identified coding issues.
  • Complete the tag request form for all transactions to be tagged.
  • Complete the disposition form for any additional disposals that may occur during this period.

If you have any questions, please contact Samantha Cohen at 617-998-6878 or Samantha_cohen@hms.harvard.edu.


Oracle Business Intelligence (OBI) is a new reporting platform currently under development by the University.  The OBI dashboards will replace the current CREW reporting system, and will be phased in gradually throughout Calendar Year 2014.  The OBI dashboards will provide more robust reporting, with many updated features.  The roll-out of the new dashboards (reports) will be phased in by subject area with Student Financials going live in early May. The timeline for additional phases will be communicated as details are finalized.  As the new dashboards are rolled out, additional training materials will be available through the OBI Wiki page found at:

OBI Tools Training: https://wiki.harvard.edu/confluence/display/OBIEEProject/OBI+Tool+Training

For questions related to the OBI rollout, please contact Cheryl O'Toole at 617-998-6887 or cheryl_otoole@hms.harvard.edu


Month End Close Calendar Adjustments

On April 1st, 2014, the first phase of the Oracle Assets implementation went live. As a result of this implementation the month end close calendar will need to be modified.

The current month end close deadlines are:

  • AP Closes on Business Day 4 (3PM)
  • General Ledger Closes on Business Day 5 (9AM Start)

A pre-requisite for closing the Assets module is that AP must be closed. Additionally, Assets must be closed prior to closing the General Ledger. In order to keep the existing schedule for when the General Ledger closes, the AP close will need to be moved up one day.

Starting with the April close, the new month end close schedule will be as follows:

  • AP Closes on Business Day 3 (3PM)
  • Oracle Assets Closes on Business Day 4 (3PM Start)
  • General Ledger Closes on Business Day 5 (9AM Start)

Due to this change, in order to have an invoice processed in the current month, it must be sent to Accounts Payable (1033 Mass Ave) with a valid purchase order number the second to last business day rather than the final business day. For example, for April month end, the invoices are due to Accounts Payable on Tuesday, April 29th as opposed to Wednesday, April 30th.

Please note this process will go into effect for the April 2014 close.