AP311: Voucher Processing Welcome to AP311: Voucher Processing

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Transcript of AP311: Voucher Processing Welcome to AP311: Voucher Processing

  • Slide 1
  • AP311: Voucher Processing Welcome to AP311: Voucher Processing
  • Slide 2
  • AP311: Voucher Processing Please set cell phones and pagers to silent Refrain from side discussions. We all want to hear what you have to say! Feel free to ask questions. If your question is off-topic or will be discussed later in the training course, we will write it on a flip chart (parking lot) to be sure we cover it later Two breaks and a one hour lunch are planned Bathrooms / Snacks First Things First
  • Slide 3
  • AP311: Voucher Processing Get to know your fellow Trainers and Drivers! Icebreaker
  • Slide 4
  • AP311: Voucher Processing Training Materials Overview
  • Slide 5
  • AP311: Voucher Processing Produced in Microsoft Word Contains key concepts, processes, and task information required to complete a users role in SMART Process flows and screenshots of the SMART system are included This is a great reference to use after training! Participant Guide
  • Slide 6
  • AP311: Voucher Processing Used to help the Trainer facilitate the course materials Produced in Microsoft PowerPoint Contains key content and graphics Generally used at the beginning or end of each Lesson Concept Slides
  • Slide 7
  • AP311: Voucher Processing Used to present the flow of either business processes or information within SMART Business Process Flows
  • Slide 8
  • AP311: Voucher Processing Produced in Microsoft Word Contains a scenario for each activity completed in the training database Provides data that you must enter for the exercise Organized by classrooms and users Take note of the user ID assigned to you Activity Guide
  • Slide 9
  • AP311: Voucher Processing Demonstration instructor only (hands off) Walkthrough instructor leads and participants complete exercise with instructor (hands on) Exercise Participants complete on their own Challenge Participants complete on their own Activity Types
  • Slide 10
  • AP311: Voucher Processing An online help tool that contains user procedures for completing tasks in SMART Used in training to perform a simulation of a SMART task or to be used during an activity as a help guide UPKs are also available after training on the SMART Training website UPKs are simulated to have the look and feel of SMART, but do not impact the production environment. It is a safe way to practice tasks that you perform in SMART. User Productivity Kits (UPKs)
  • Slide 11
  • AP311: Voucher Processing A short document that contains key concepts or steps involved in a course Can be content or system related Available for all participants to use during training Used after training for quick reference from the Training Portion of the SMART website Referenced as often as possible during training to indicate the handiness of the material Job Aids
  • Slide 12
  • AP311: Voucher Processing Are conducted using the SurveyMonkey tool Please complete a course evaluations for each new course that you attend Trainers also complete a course evaluation at the end of each class Course Evaluations
  • Slide 13
  • AP311: Voucher Processing Questions
  • Slide 14
  • AP311: Voucher Processing Course Objectives Upon completion of this course, you will be able to: Define basic voucher terms Describe the voucher process in SMART, including the impacts to other modules Create a voucher without a purchase order Create a voucher with a purchase order Create a journal voucher Create a reversal voucher Manage vouchers Monitor control groups
  • Slide 15
  • AP311: Voucher Processing Lesson 1
  • Slide 16
  • AP311: Voucher Processing Lesson Objectives After completing this lesson, you will be able to: Describe the five distinct levels in Accounts Payable where controls are set Define basic voucher processing terms List the types of vouchers that can be entered into SMART Explain when to use each type of voucher that can be entered into SMART Describe the changes in voucher processing from the existing State of Kansas voucher processing to voucher processing in SMART Describe the end-to-end process for voucher processing, including the lifecycle of a voucher Explain how voucher processing fits into the overall Accounts Payable process in SMART List the roles involved in the Voucher process and describe tasks performed by each role
  • Slide 17
  • AP311: Voucher Processing Accounts Payable Key Terms Key TermDescription Business UnitThe SMART fields that define each agency of the State Control GroupA means of grouping vouchers for processing InvoiceAn itemized bill for goods sold or services provided, containing individual prices, the total charge, and the terms OriginIndicates the manner in which a transaction was loaded to SMART (i.e., online or batch). May also be defined at agency, organizational structure and/or user levels. VendorAny person or company from whom the State of Kansas purchases goods or services, including state agencies, sub-recipients, and sub-grantees MatchingAn automated process of comparing values found in three different business documents voucher, purchase order, and receipt prior to approving a voucher for payment. This process provides assurance that the products listed on a vendor invoice were requested and received at the appropriate price and in the appropriate quantity. Budget Checking The process of comparing expenditure or revenue transactions against a defined budget
  • Slide 18
  • AP311: Voucher Processing Accounts Payable Hierarchy The SMART Payables Control Hierarchy is composed of five levels: Business Unit This is the highest level of the hierarchy which facilitates voucher entry. It is an independent processing entity. Origin Each transaction that is entered into SMART must have a valid origin (online or batch) Control Group A means of grouping vouchers in order to maintain control over them Vendor All payees for vouchers are called vendors Voucher Vouchers are records that you create to process vendor invoices or adjustments. Vouchers can either be entered manually or through an Electronic Data Interchange (EDI)
  • Slide 19
  • AP311: Voucher Processing Voucher Key Terms and Concepts Key TermsDescription InvoiceAn invoice is an itemized bill for goods sold or services provided, containing individual prices, the total charge, and the terms of the vendor Payments (checks)Payments are issued to a vendor to pay for a voucher Payment TermsThe pay terms are based on the vendors requirement for payment. The State of Kansas normally uses the pay term of immediate.
  • Slide 20
  • AP311: Voucher Processing Voucher Key Terms and Concepts Payment TermWhen Used 00 Payment is due immediately Net 7 Payment is due 7 days from the date of the invoice Net 10 Payment is due 10 days from the date of the invoice Net 15 Payment is due 15 days from the date of the invoice Net 30 Payment is due 30 days from the date of the invoice Net 45 Payment is due 45 days from the date of the invoice 5M Payment is due on the 5 th of this month 10M Payment is due on the 10 th of this month 14M Payment is due on the 14 th of this month 15M Payment is due on the 15 th of this month 20M Payment is due on the 20 th of this month 25M Payment is due on the 25 th of this month 26M Payment is due on the 26 th of this month 30M Payment is due on the 30 th of this month EM Payment is due at the end of this month 1M1 Payment is due the first of next month 7M1 Payment is due the 7 th of next month EM1 Payment is due at the end of next month State of Kansas Payment Terms
  • Slide 21
  • AP311: Voucher Processing Voucher Key Terms and Concepts Three sections of the voucher: Voucher SectionInformation Included HeaderBusiness Unit, Voucher ID, Voucher Style, Invoice Number, and Invoice Date LineDistribute By, Item, Description, Quantity, UOM, Unit Price, Extended Amount, Ship To, and SpeedChart DistributionAmount, Account, Quantity, GL Unit, Department, Fund, Budget Unit, Program, Budget Date, Agency Use, and Service Location. PC Business Unit, Project, and Activity are required PC ChartFields for grant/project-related transactions. Agencies may optionally choose to use Source Type, Category, and SubCategory. Agencies using Source Type, Category, and SubCategory will determine which of these PC ChartFields are optional or required.
  • Slide 22
  • AP311: Voucher Processing Voucher Styles Voucher StylesDescription RegularUsed for entering vouchers that are purchase orders and non- purchase order related vouchers. This is the default setting in SMART JournalUsed for correcting accounting entries on a posted or paid voucher AdjustmentUsed for entering a credit or debit memo, or for relating one voucher to another voucher TemplateUsed for creating a template for generating regular vouchers with similar information ReversalUsed to undo a transaction, including back out incorrect vouchers, restore the encumbrance for actuals and budgets, and reduce the purchase orders matched quantity or amount Single PaymentUsed for entering a voucher without having to record the vendor information in the vendor table
  • Slide 23
  • AP311: Voucher Processing Key Changes to the Voucher Process In SMART, matching for vouchers against purchase orders or from a receiver is automated. Prior to SMART, matching was a manual process. In SMART, workflow is automated for voucher processing. Prior to SMART, many agencies used ma