INTRODUCTION TO...
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Transcript of INTRODUCTION TO...
Introduce yourself!
� Name?
� Why are you in the class?
� How long have you been working with budgets at UW?
at UW?
� What are you hoping to take away from today’s class?
Agenda
� What is MyFinancial.desktop?
� How financial information is organized
� Access to MyFinancial.desktop
� Discover how to navigate Budget Summary, Budget Profile, Transaction
Summary and Transaction detail
� Learn how to set up Budget Lists
� Create awareness to other tools available in MyFD
� Navigate through the Reconciliation Report
� Demonstrate links to other systems and source documents
Other Tools in MyFD
� Queries
� Can be used as a search tool for budgets to which you have access
� Create custom reports using advanced reporting techniques
� Learn more in the Queries Workshop class or e-learning demo
� Transferring posted expenditures (Transactions)
� Online system to transfer posted salary and non-salary expenditures� Online system to transfer posted salary and non-salary expenditures
� The only way to transfer salaries at UW between budgets
� Simple process, view our e-learning demos
� Budget Worksheet
� Tool that allows users to analyze and plan for future spending and/or income by replicating ‘commitments’ historically done on the BSR, or via other tools, to see future budget impacts.
� Learn more on our website and e-learning demo
FAS & MyFD- what are they?
� Financial Accounting System, a.k.a FAS
� Created in 1975
� Designed to arrange and summarize financial
� MyFinancial.desktop (MyFD)
� Web interface for FAS
� Reports & Queries were introduced in 2005, followed by Expense Transfers in 2008 and summarize financial
information
� All financial data flows through it (e.g. data rec’d from HEPPS, SDB, BGT, PAS)
by Expense Transfers in 2008 and Online Reconciliation in 2010.
� Links to source documents were added in 2012
� Contains all transaction details from FAS
� Updates with FAS data nightly
MyFinancial.desktop(MyFD)
Web-Based Financial/Administrative Tools
What is FAS/FIN?
PAS interacts with various systems that determine what is fed to FAS, including; ARIBA (eProcurement, eTravel), Procard (PaymentNet), Invoice Logging, and other Campus AP PAS feeds .
1.
Other Systems Reading Financial Tables; OASIS, Parking, Advancement, ASTRA, JD Edwards, Financial Web Service, COM, FacilityMax, TIME, and Campus Department Financial Systems.
2.
UW Financial Reporting systems include Enterprise Data Warehouse(EDW), BAR/BSR, eFECS, MyFD, ERGO, AFRS, 1099, FAST, MIS/OFIS3.
Financial Reporting Systems/Applications3
High level financial structure
� All budgets are grouped under an “organization code”
� Budget numbers are linked to an
Budget # 1
Acct Code 01(salaries)
linked to an organization code
� Account codes group expenditure and revenue transaction activity
Budget # 2
(salaries)
Acct Code 04(travel)
(salaries)Acct Code 01
(salaries)
(travel)Acct Code 04
(travel)
How do we further organize info?
� Organization (org) codes have 10 digits
� Budget numbers always contain six digits
� A budget number is assigned to only one org code
� The first two digits indicate what type of budget
� The first two digits indicate what type of budget (state, self-sustaining, grant or gift)
� Example: 04-3505
� Budget number prefix websitehttp://www.washington.edu/admin/finacct/office/budgets.html
What is an Account code?
� Each budget has at least one account code
� Also known as Object code or Revenue codes
� Facilitates record keeping and budget planning
� Define expense types such as Salary, Contractual Services, Travel, Equipment, etc. Travel, Equipment, etc.
� Comprised of 6 digits
� http://www.washington.edu/admin/finacct/obcodes/
04-20-00Major Object code
Sub-Object code
Sub-Sub-Object Code
Three Main Budget types
� 3 main types of budgets at UWBudget Type Unique
Characteristics
Primary
Contact Office
Funding Source Duration
State Budget Allotments Planning andBudgeting
State 2 years (Biennium)Eg: July 2011-
Eg: July 2011-June 2013
Grant -Principal Investigator-Indirect Costs
Grant and Contract Accounting
Sponsoring agencieseg: National Institute for Health
Project periodeg: May 2001-December 2019
Self-Sustaining (Revenuegenerating)
-Institutional overhead-No budgeted amount
Management Accounting and Analysis (MAA)
Incoming revenue/Cost Transfers
On-going
Out-loud Activity!
� Directions: Open a web browser. From the UW homepage, search for “budget prefix.” Answer the following questions based on the data found on the website.
Budget number Question
Budget number Question
15-9000 What type of budget is this?
75-1010 If you had questions about how the budget was set up, who would you contact?
61-2389 What is the description of this budget?
94-0056 What is the email address you would use, if you had questions about this budget?
64-9654 What is the description of this budget?
Reporting Periods
� Fiscal month (used in MyFD)� Calendar month (June, July, August)
� Accounting month (used in FIN/FAS)� Number of an accounting period
(month 1, month 2, month 3)
Fiscal year
� Fiscal year� Months 1 thru 12 of the Biennium encompass the
1st fiscal year. � Months 13-24 encompass the 2nd fiscal year. � Months 13 and 25 encompass the additional accrual period)
� Biennium � Two year periods running from July of an odd year through June
of the next odd year (Ex. July 2011– June 2013)
Now you’re ready for MyFinancial.desktop!
Using MyFinancial.desktop to navigate Budget Information
Open
AccessTo any budget
Inquiry
(Preparer)ASTRA: User/ Unit Staff/ Inquiry
Expense
Transfer
(Submitter)ASTRA: User/ Unit Staff/ Expense Transfer
View Transaction and Budget Summary,
MyFinancial.desktop: Access
� Need ASTRA access to at least one budget, which is granted by department administrators
View Transaction and Budget Summary, Transaction Detail, and Budget Profile
✓ ✓ ✓
Run Queries ✓ ✓
Create Budget Lists ✓ ✓
Reconcile budgets ✓ ✓
Prepare Transfers for local review within dept ✓
Submit Transfers for overnight FAS processing ✓
Budget Worksheet ✓ ✓
Source Documents ✓ ✓
Overview & Navigation
•Drop down menus for navigation
Real time messaging for reconciliation and system downtime
•Online help•System set-up•Glossary of terms
Comments link allows users to report “bugs” or “suggestions”
Budget Summary Report
� Online alternative to the paper-based Budget Status Report (BSR)
� Includes budgeted amounts, encumbrances, transaction totals and budget balances
� Viewable by month, fiscal year, biennium or activity to date� Viewable by month, fiscal year, biennium or activity to date
Budget Summary Report Overview
Click “+” to expand
Budget Number and Time Period
Extract or Print
Click “+” to expand
Blue text indicates activity in current reporting period
Budget Balance Overview
� Budget balances under the Remaining Budgeted Amount Column of the Budget Summary
� Found in different lines for state/grant versus revenue-generating budgetsrevenue-generating budgets
� State and grant budgets “Total Expenditures” line
� Revenue-generating budgets “Cumulative Net (Income) or Loss” line
� For interactive demos on budget balances, visit:
http://f2.washington.edu/fm/myfd/budgetsummary
Finding your budget balanceBudget balance for state and grant funded budgets is found in the expenditures line, under Remaining Budgeted Amount
Self-Sustaining
Budget balance if your Budgeted Amount is $0.
Budgeted Amount column
To learn more about Budget Summary & Budget Balance: http://myfd.washington.edu/help/budgetsummary
Activity 1: Budget Balances
Activity #1 :
Budget Summary Report: Locating budget balances
Budget Profile
� Provides budget details
� No financial data here
� No access restrictions
Not queriable� Not queriable
Budget Type
Organization Code
Budget #
Activity 2: Locating Organization Codes
Activity #2 :
Budget Profile Report: Locating organization codes
Transaction Summary Report
� Online alternative to the Budget Activity Report (BAR)
More transaction
details can be seen by clicking on hyperlinkon hyperlink
Project Cost Accounting Codes
appear here
Date the transaction posted to FAS
Transaction Detail
� “Queriable” information about transactions
� Values and descriptions vary for each transaction
� If the field exists on transaction � If the field exists on transaction detail report, it can be queried
� Only accessible via transaction summary report
� Shows all four reference fields (useful when looking for check, JV, encumbrance, work order or other type of reference number)
Activity 3: Locate Transactions
Activity #3 :
Locate transactions using the Transaction Summary
Creating Budget Lists
� Three types of budget lists
� Static – will not change unless you change it
� Dynamic – updates automatically
� My Designee – cannot change or be deleted, reflects individual budgets you’ve been granted access toyou’ve been granted access to
Click on “Create/Edit” link to work with your budget lists
Remember! This is anActivity-to-Date Report
Activity 4: Create Budget Lists
Activity #4 :
Create and edit Budget Lists
What is Reconciliation
What is reconciliation?
Reconciliation is the process by which departments verify that their source documentation matches a fiscal report from the central accounting system. Further, reconciliation involves resolving any discrepancies that may have been discovered.discrepancies that may have been discovered.
The purpose of regular reconciliation of budget activity is to ensure:
� All charges are for the correct purpose and amount, and allowable
� Errors are detected, investigated and resolved
� All required documentation is maintained
Reconciliation Features
� Check transactions as reconciled or flag for follow-up
� Record comments/notes on transactions
� Audit Trail
� Sort Column Headings
� Budget Revision amounts
� Transfer Expenses as you reconcile
� MUST have ASTRA access to that budget to view or update Report
� Read and Update View to manage reconciliation activities
System Demonstration
System Demonstration
Status Bar
View
Reconciliation activity
Budget Audit Trail
Bar
Activity 5: Reconciliation
Activity #5 :
Perform reconciliation activities using the Reconciliation Report Reconciliation Report
Reconciliation Status Report
MyFinancial.desktop
Reconciliation Status Report
Learn more: http://myfd.washington.edu/help/statusreport
Demo of the Status Report
Follow along with your handout!
Activity 6: Reconciliation Status
Activity #6 :
Review the Budget Status using the Reconciliation Status ReportStatus Report
How Do I Get Access?
All ASTRA authorizations are managed
within departments
� eProcurement
� Online Payroll Update System (OPUS)
� Online Work Leave System (OWLS)
� System to Administer Grants Electronically (SAGE)
� MyFinancial.desktop!
� https://ucs.admin.washington.edu/astra/
All Mainframe system authorizations
are managed via Admin App group
� Budget System (BGT)
� Financial Accounting System (FAS)
� Higher Education Payroll/Personnel System (HEPPS)
� Purchasing Accounting System (PAS)
� Student Database (SDB)
� Email: [email protected]
Resources
Training
Access
http://myfd.washington.edu/help/
Budget and Transaction Summary
E-news
Reminders
� Check Your Access
• Users must have ASTRA access to MyFD
� Review Internal Controls website
• http://www.washington.edu/admin/finacct/office/internalcontrol
/recon.html
� Opt out of receiving paper BAR/BSR
• http://myfd.washington.edu/help/barbsroptout/
This request must be made by an administrator
� Sign up for the MyFD Newsletter
• http://f2.washington.edu/fm/myfd/myfdnews/
In this course, we covered….
� How information is organized and reported at UW
� Access to MyFinancial.desktop
� Overview of MyFD and how information is organized
� Navigating Budget Summary, Budget Profile, Transaction Summary,
Transaction Detail and Budget Lists
� Using the Reconciliation Report in MyFD
� Create awareness to other tools available in MyFD
You will receive a post-course survey by a member of our team. We ask kindly for your
Thank you!
member of our team. We ask kindly for your feedback to help enhance future trainings.
