Florida International University Finance Managers Meeting. June 19, 2012

Transcription

1 Florida International University Finance Managers Meeting June 19, 2012

2 Agenda Budget Update Chart of Account Redesign Project Payroll Detail Report Questions & Answers

3 Chart of Accounts What is the Chart of Accounts? The Chart of Accounts is the coding structure that defines an organization s operations in financial terms and serves as the building block of the general ledger and financial reporting. Simply put, the Chart of Accounts organizes business activities using codes and hierarchies to enable financial analysis and reporting.

4 Chart of Account Redesign Goals To develop a financial structure which will identify, capture and report activities of the institution in the University s financial system accurately and in sufficient detail to be used independently or in conjunction with other systems and to provide senior management with information necessary for Financial and Management Reporting. This CoA structure should: Be driven by the analytical and reporting needs of the institution Be flexible enough to accommodate future growth Facilitate the consistent use of the chart by each operating unit across the institution Facilitate achieving fewer errors, more transparency, and consistency Minimize analysis efforts, coding errors, and training requirements for users

5 New Features Consistent use of departments across modules Continued use of a value that represents a specific chartfield string Budgeting/tracking by Cost PID, Task and Cost Sharing Enhanced reporting capabilities for department consolidations and new Chartfields

6 Chartfields Basic fields used to categorize transactions in PantherSoft: Business Unit Department Account (Alt Account) Fund Program Code Site Activity Number Budget Reference Project Cost PID Task

7 Definitions - Required Chartfields Name Business Unit Department Account Alt Account Identifies the legal entity within the University. Required Definition Identifies an organizational unit. To be considered a Department the unit must serve a distinct function or discipline, have a manager with subordinates, and have a budget. This is a common value across all PantherSoft systems (Campus Solutions, HR, Financials). Identifies transactions based on the object or nature of the event to which they relate. This Chartfield is used to classify transactions in the accounting system as Assets, Liabilities, Revenues, Expenses or Equity. This Chartfield further breaks down this classification by type such as rent revenue, fees, travel expenses, etc. Classifies the nature of a transaction utilizing the State standard General Ledger code. Each account Chartfield must be mapped to an alternate account. Used for statutory reporting only. Fund Program Code Site Activity Number Identifies major funding sources that the University must report on separately. Each fund has its own rules for spending and for receiving money. Identifies the primary mission or activity being reported such as instruction, research, public service, administrative support, plant operation and maintenance, financial aid, student activities, etc. Also known as the PCS code and is a required code for State reporting and financial statement preparation. Identifies the campus or location to which the transaction is identified, such as On-Line, Study Abroad and Medical locations. Tracks revenues and expenses for a specific activity using a distinct fund, program code, site and department (organization) string.

8 Definitions Optional Chartfields Name Budget Ref. Project Cost PID Task Optional Definition Identifies the aid year for financial aid awards. Also used by College of Medicine to identify the academic period. Tracks projects whereby the University is required to report fiscal activities on a life-to-date basis. Typically, the life of these projects crosses fiscal years. This Chartfield will be used for grants and construction projects. Tracks revenues and expenses for a specific Faculty allocation. Tracks expenses that have a similar purpose that are not identified in another existing Chartfield, for example, Critical Investments.

9 Summary By Chartfield Field Name Change New Field SUMMARY BY CHARTFIELD Usage Change Required Budget By Businesss Unit No No No Yes Yes Department ID No No Yes Yes Yes Account No No No Yes Yes ALT Account No No No Yes Yes Fund No No No Yes Yes Program Code No No No Yes Yes Site Class No Yes Yes Yes Activity Nbr New Chartfield Yes New Chartfield Yes Yes Budget Reference No No Yes No No Project No No No Grants E & G Cost Share Cost PID New Chartfield Yes New Chartfield No Optional Task New Chartfield Yes New Chartfield No No

10 Current Versus Future

11 Examples of Current Vs. Future Required Fields Optional Fields Current Future Example 1 Business Unit Department (Activity) Department (Organization) Account ALT Account Fund Program Code Current FIU Class Budget Ref Project Site ActivityNbr Cost PID Task CPHSW Student & Alumni Affrs Permanent Salaries Comp & Empl Ben E&G General Revenue Student Service Administration MMC Campus Future FIU CPHSW - Dean's Office Permanent Salaries Comp & Empl Ben E&G General Revenue Student Service Administration MMC CPHSW Student & Alumni Campus Affrs Example 2 Current FIU Public Health Tuition Plus Permanent Salaries Comp & Empl Ben Auxiliary Continuing Education BBC Campus Future FIU CPHSW - Dean's Office Permanent Salaries Comp & Empl Ben Auxiliary Continuing Education Example 3 Current FIU BBC Public Health Tuition Plus Campus Faculty Startup Furniture & Furniture & Equipment Over Equipment $5,000 E&G General Revenue Academic Administration MMC Campus Future FIU CAS Deans Office Admin Furniture & Furniture & Equipment Over Equipment $5,000 E&G General Revenue Academic Administration MMC Rodriguez, Faculty Startup Campus Jorge L

12 Module Impacts Activity Number is a unique value used to identify a combination of Chartfields for financial transactions in the following modules: Travel and Expense Requisitions, Purchasing and Accounts Payable Asset Management Credit Card Solutions Budget Overview Smart Billing Pinnacle Billing System

13 New Activity Number Format The 10 digits in the new Activity Number represent the organizational department, the fund group, and individual activities. First five digits represent the Department Sixth digit represents the Fund Group Last four digits are sequential by activity within department and fund group Example: Activity Number (Honors College E&G) Department - Fund Group - Sequential by Activity

14 Crosswalk from Old to New Chartfields Chartfield Crosswalk

15 Cost Center & Changes to Forms A Cost Center is the combination of the new 10-digit Activity Number and one or more of the new optional fields. The Cost Center will be reflected and available in PantherSoft HR and Financials as well as all forms which previously required Department ID.

16 Travel Authorization & Expense Report

17 Requisitions

18 Asset Management

19 Credit Card Reconciliation

20 Inquiring on Budget Overview at Department Level (CC_PRD)

21 Budget Overview at Dept Level Enhancement

22 Inquiring on Budget Overview at Activity Nbr Level (CC_DEP)

23 New - Inquiring on Budget Overview Cost PID (CC_PID)

24 Budget Overview at Activity Nbr Level (CC_DEP)

25 Changes to Pinnacle Billing System When you log into Pinnacle you will now see an ACCOUNT BILLING tab instead of a DEPARTMENT BILLING tab. Starting with the 01-JUN-2012 bill, that will post in July, the Account Number Column will contain the new 10 digit Activity # - PID (Panther ID) (if any) - Task # (If any). Any bills prior to 01-JUN-2012 will contain the old 9 digit department # - Fund Class - Program

26 Changes to Pinnacle Billing System The account # (10 digit Activity # - PID - Task #) will appear at the top of each section of the bill.

27 Changes to Pinnacle Billing System The values displayed for DEPARTMENT within the bill, will be either the ACTIVITY # or, a unique 10 digit number, starting with a letter, which is used when a PID and/or TASK value is defined in the ACCOUNT #.

28 PantherSoft HR Impacts Payroll Transfers eprf Contracts Department Budget Table Combo Codes Time and Labor (Task Profiles)

29 Next Steps June 23: PantherSoft HR and Financials down to all users due to HR conversion to new Chart of Account structure; Use only new Chartfields in PantherSoft HR and on HR forms after June 23. June 25: PantherSoft HR and Financials open to all users with new Chartfields available in HR and viewable only in Financials. Do not use new Chartfields in PantherSoft Financials or change any of the values until after July 9 or you will not be able to save the transaction. July 1-3: Chart of Account Redesign Go Live; Business as usual except no ability to enter transactions affecting the new fiscal year. July 4-8: PantherSoft Financials down; All financial data available with view access only in Reporting Database (i.e. not in Production) July 9: All PantherSoft systems open with new Chartfields available to all users; Open labs and UPKs available to all users.

30 Training & Support Training Open Labs beginning July 9 UPK updated online trainings available by July 9 Specialized group trainings available upon request Support Call: Ext GLMaint@fiu.edu FIU CHAT

31 Open Labs Date Time MMC Monday, July 9, :00pm to 5:00pm GL 245 Tuesday, July 10, :00am to 12:00pm GL 274 Friday, July 13, :00pm to 5:00pm GL 245 Tuesday, July 17, :00pm to 5:00pm GL 245 Friday, July 20, :00am to 12:00pm GL 274 Monday, July 23, :00am to 12:00pm GL 274 Friday, July 27, :00pm to 5:00pm GL 274 Date Time BBC Tuesday, July 10, :30am to 12:00pm LIB 150 Thursday, July 12, :30am to 12:00pm LIB 150 Thursday, July 19, :30am to 12:00pm LIB 150 Tuesday, July 24, :30am to 12:00pm LIB 150

32 Communication Partners

33 Reporting Group

34 COA Redesign Project Website