Using UM Reports for

Internal/External Sales

Applications

Internal/External Sales Staff

•Keith Jansen – Manager Internal/External Sales•Jeff Kurland – Compliance Officer Int/Ext Sales •Andre Duncan – Compliance Officer Int/Ext Sales

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Introductions

• Provide information on the use of UM

Reports for reporting results and

monitoring for internal or external sales.• Provide method to quickly focus on

key items to make ongoing corrections.

Session Objectives

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• Assumptions\requirements for reporting• Overview of handouts • Reports to use• Reconciling data to get an accurate reporting• Internal Sales key area of focus• External Sales key area of focus• Summary

Agenda

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Cost/Revenue of sales need to be separated• Fund 1150 – Recharge Internal Revenue • Fund 1151 – Specialized Service Internal Revenue• Fund 1026 – External Sales (Other Unrestricted)• CF2, Program code, and/or Empl ID• Accounts codes for resources, expenditures, subsidies and transfers

Assumptions for accurate reporting

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Monthly recording of activity to match revenue & expenses • Invoicing – add activity not yet invoiced• Depreciation entry – subtract value not yet recorded• Materials for resale – add items not sold/consumed• Allocation of expenses – subtract or add • Carry forward balance – add/subtract in not in rates• Subsidies – expected but not yet recorded via Journal Entry(JE)

Reconciliation Process

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Budget values and Rate Development• Entered into budget• Equal values• Detailed account codes• Include carryforward balance• Include subsidies• Include depreciation• 12 months compared to numbers of months completed

Reconciliation Process

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• Go to: http://www.umreports.umn.edu • Log in using Internet ID and password• Search for and run the Enterprise Financials, Non-

Sponsored report: Account Budget Status for Current Non-Sponsored Funds

• Specify Fiscal Year and current accounting period• To include all possible year-end activity, select

accounting period through 9xx (whatever accounting period is the greatest)

Report

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View general department activity:• DeptID• Group report by Fund Codes• Include Plant and Agency Funds• Chartfield String Budget Status for Current Non-

Sponsored Funds

Report

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Features of General Report: • All activity by Fund• ESO and ISO activity • Includes Plant Fund

Report

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View specific defined activity:• Enter DeptID• Fund where ISO and ESO activity resides• Program code, ChartField2, and/or FinEmplID• Chartfield String Budget Status for Current Non-

Sponsored Funds

Report

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Features of specific report: • Activity for a specific activity defined by detail• Multiple activities in one Fund • Distribution of revenue/expenses between

activities

Report

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All other issues• Monitor monthly activity• Identify incorrect entries• Budget/rate development versus actuals• Accounts receivable• Trends for developing surplus or deficits

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Use of Reports

Key items of focus:• Segregation of internal sales activities – I1

• Funds 1150 and 1151• Carryforward balance – I2

•Surplus•Deficit

• Use internal sales revenue / expense accounts – I3 •Unallowable accounts•Categories

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Internal Sales

Key items of focus • Inventory for resale – I4 • Fixed Assets – I5

No equipment purchases in operating fund

ISO Plant Fund

Depreciation entry

Plant fund balance equals Net Book Value – I5a

• Transfer-in and Transfer-out – I6

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Internal Sales

Key items of focus • Break even analysis • Balance – I8

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Internal Sales

Key items of focus:• Segregation of external sales activities – E1 • Using external sales accounts – E2

520204 – Conf-Courses-Trips-Tours

520205 – Consulting Services

520208 – Laboratory Sales and Services

520212 – Publication Program Materials

520217 – Speaker Presentation Fees

520218 - Sponsorships

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External Sales

Key Items of Focus:• Using generic account codes – E2

520699 – Other External Sales

520601 - External Sales (FKA Ext Sales–Aux ISO)

520620 – External Sales – Unrelated Inc (Tax Mgmt)

• Timing of Invoicing – Contract Terms

• Outstanding receivable balance – E3

(Acct 110000 – A/R – Central Billing)• Budget to Actual Comparison – E4

External Sales

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Key items of focus:• Expense Allocation – E5• Historical Salary Adjustments (HSAs)• Purchase Assets• Margin Analysis – E6

Market value

Greater than 63% margins

Adjust for transfer outs and depreciation – E7

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External Sales

• Bookmarks : remember all attributes for a report; set for one ISO or multiple ISOs • Customize: change reporting format (hmtl,pdf, ect.) • Download to Excel – sort, compare data, multiple by percentages etc. • Download to PDF - save for future reference in a defined format. • Help – description of report and all headers. • Re-prompt by: fiscal year account period.

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Additional Features

Consistent with Reviewing Internal Sales Activity Annually: •Internal Sales Business Managers should monitor throughout the year. •Resource Management may require mid year adjustments.•Significant areas are allocated and allowable.•Manage surplus and deficits.

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Summary

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•Questions and Answers

•Contact Information:

Keith Jansen 4-5540 kkjansen@umn.eduJeff Kurland 5-5605 extsales@umn.eduAndre Duncan 4-7892 intsales@umn.edu

Contact Information