Transcript Finance SME WebEx Meeting - Washington State Board for

ctcLink Update and Presentations
BAR
January 29, 2015
10:00am to noon
Introductions & Agenda
Who are we?
Emmett Folk – Finance Functional Team Lead
Shon Dicks-Schlesinger – Finance Functional Analyst
Christyanna Dawson – Finance Functional Analyst
What are we doing here?
 Quick ctcLink Update
 Overview of PeopleSoft General Ledger
 Overview of PeopleSoft Commitment Control
ctcLink Update
There will be a new FirstLink go-live date:
 A new date for FirstLink colleges is expected to be
announced mid-February
 Project leadership is also assessing the implementation
date for the Wave 1 colleges
 Still expect to work within the schedule of completing the
project by the end of 2017
It’s not too early to be involved! Join our Listserv!
Look for ctclinksme_fin on the Mailing List page:
http://lists.ctc.edu/mailman/listinfo
PeopleSoft Financials Overview
General Ledger (GL)
Agenda
List of Possible Topics:
Short Description:
Presenter
Thursday, January 29th
Oracle & GL Overview
Review the following GL Setup Components: ERP Review,
10:10am - 10:25am
Business Units, Ledgers, and Chartfields.
Shon Dicks-Schlesinger
A grouping of transactions by date, module, or chartfield.
Journals
Review the following Journal Components:
10:25am – 10:40am
Accounting Entry Definitions, Journal Generator Template
and Standard Journals.
Shon Dicks-Schlesinger
Spreadsheet Upload
Upload external document to populate PeopleSoft fields
to avoid manual entry.
10:40am – 10:50am
Shon Dicks-Schlesinger
Month End Closing
Review Open Period Update to close each period.
10:40am – 10:50am
Shon Dicks-Schlesinger
Reporting
How to run delivered online reports?
10:50am – 10:55am
Shon Dicks-Schlesinger
Trees
A grouping of chartfields and their attributes for various
reporting purposes.
10:55am - 11:05am
Shon Dicks-Schlesinger
PeopleSoft ERP Application
PeopleSoft
Financials
PSFIN
PeopleSoft Human
Capital Management
PSHCM
PeopleSoft
Campus Solutions
PSCS
Hyperion
PeopleSoft Financials
General Ledger Process Flow
General Ledger Business Units
• A General Ledger Business Unit is typically a
subset of the organization that maintains its own
set of books or ledger.
• Each General Ledger Business Unit
– maintains its own financial transactions
– may have one or more set of books or ledgers
containing any type of data such as actual,
budget or forecast information.
Ledgers
•
•
A ledger consists of posted balances that represents a set of books for a
business unit.
– Ledgers store the posted net activity for a set of ChartField values by
accounting period and by fiscal year.
– Ledgers are maintained primarily through journal entries, and can store
actual, budget, forecast, statistical, or other types of data at many
levels.
A detail ledger is used to store a journal's accounting transaction details.
– After setting up ledger templates, define detail ledgers and associate
them with a ledger group.
– They are termed detail ledgers to distinguish them from summary
ledgers, which are used to record summarized activity.
Physical Ledgers
Ledgers For A Unit
• Identifies the detail ledgers, ledger groups, and
calendars used by this business unit and
identifies specific characteristics for each ledger.
Ledgers For A Unit
Ledger Sample – Ledger Table
Chartfield Definitions
•
Chart of Accounts (COA) - The foundation of the PeopleSoft accounting system.
The Chart of Accounts provides each business unit, fund, department, project, grant,
and account with a unique identification number and a common language for
identifying financial transactions.
•
ChartField - The individual components or fields, when combined make up the
Chartstring, which defines the accounting structure.
•
Chartstring - A set of ChartFields "strung" together to represent the proper
categorization of a financial transaction.
•
Account - Classifies the nature of a financial transaction. This is a required field
represents assets, liabilities, and fund equity, as well as revenue and expense codes.
Chartfield (Chart of Accounts)
Chartfields
Journals
General Ledger
•
Journal entries for actual transactions are made in a double entry system, in
accordance with Generally Accepted Accounting Principles (GAAP), where debits
equal credits.
Journal
• A batch of accounting entries entered online or input from a feeders system
(payables, receivables, asset management, grants, expenses, etc. to the General
Ledger).
• Journals consists of multiple journal lines and one journal header, identified by the
journal ID. Information about the journal as a whole is stored in the Journal Header
table.
Posting
• The process by which accounting entries are created or updated.
• The entry does not become "official" until it is posted.
• Vouchers and journal entries are examples of items that are posted.
Create/Update Journal Entries
Create/Update Journal Entries: Header
Create/Update Journal Entries: Lines
Create/Update Journal Entries: Errors
Create/Update Journal Entries: Approval
Journal Process Workflow
Standard Journal Entries
With SJEs, you can automate the entry of similar or identical journals. You can define three types of
standard journal entries:
•Recurring: Use Recurring journal entries for repetitive transactions that use the same accounting
information and amounts.
Monthly rent, automobile lease payments, and amortization expenses are examples of recurring
items for which you might charge constant amounts to the same ChartField combinations
each period.
•Template: Use Template journal entries for regular, periodic transactions that you charge to the same
ChartField combinations using varying amounts.
Examples include monthly payroll, utility, and telephone expenses. You can schedule regular,
recurring postings for standard journals, such as weekly postings, or schedule postings for
selected dates.
•Spread: Use Spread journal entries for transactions for which the entire cost is spread proportionately
throughout the year.
Defining Standard Journal Entries (SJE’s)
Define a Standard Journal
Create a Standard Journal
Accounting Entry Definition
• Identifies the system source that distributes data to your general
ledger and identifies the record and field names for the Accounting
Entry table.
Accounting Entry Definition
Journal Generator Template
• The Journal Generator process creates general ledger journals for
any application.
• The Journal Generator process uses the record and field names
from the accounting entry definition to extract data from the
Accounting Entry table and create journals.
Journal Generator Template
Generate Journals (Accounts Payable)
Generate Journals (Student Financials)
General Ledger Spreadsheet Import
•
The Spreadsheet Journal workbook enables you to enter journals offline using
Microsoft Excel and then import the journals into the PeopleSoft General Ledger
module.
•
The Spreadsheet Journal Import supports regular journals and standard budget
journals.
•
Spreadsheet Journal Import does not allow the use of Control accounts. By definition,
Control accounts originate in the PeopleSoft subsystem modules (example: PS
Accounts Receivable, PeopleSoft Accounts Payable, etc.).
•
Spreadsheet Journal Import rejects Control accounts during the import
process.
General Ledger Spreadsheet Import
General Ledger Spreadsheet Import
Month End Closing Update Open Periods
Month End Closing Open Period Update
GL Reporting
Journal Entry Detail Report
•
•
•
Displays all journal entries that were entered in the system for a business unit and
ledger within the date range specified.
Prints the journal entries in ascending ID order within the ledger and shows the
journal date, the source, whether a reversal entry was created, journal status, posted
date (if any), and a description.
For each line that is included in the journal entry, lists the line number of the entry, the
account number, a description, the department, product, and project ChartField
values, and debit and credit detail. Also prints statistical information where included in
a journal entry. (SQR)
GL Activity Ledger Report
•
•
Activity report lists the beginning and ending ledger balances by ChartField
combination and account.
Activity report lists the detailed journal line activity that is posted against the ledger for
the accounting periods that are specified. (SQR)
Journal Entry Detail Report
Journal Entry Detail Report
GL Ledger Activity Report
GL Ledger Activity Report
Trees
Trees play a major role throughout PeopleSoft applications.
Some of the many different uses of PeopleSoft Trees are:
– Organizing data within a field logically or hierarchically.
– Development of efficient report structure used by such tools as
PS/nVision reporting (criteria and scopes) as well as query
criteria.
– Chartfield maintenance.
– Year End closing definitions.
Trees
Sample Tree
Questions
PeopleSoft Financials Overview
Commitment Control (KK)
What is Commitment Control?
Commitment Control (KK) is a tool
provided in PeopleSoft to Assist with the
management and monitoring of budgets.
Commitment Control enables users to
control expenses actively against predefined,
authorized budgets.
• Create and maintain budgets that can be controlled or
tracked.
• Check actual transactions (such as actual expenses
and revenues) against fiscal year budgets.
• Check imminent future financial obligations (preencumbrances and encumbrances) against budgets.
• Check recognized revenue against revenue estimate
budgets.
Expense Levels
• Pre-encumbrance: Amount expected to spend, but for
which there is no legal obligation to spend. A
requisition is a typical pre-encumbrance transaction.
• Encumbrance: Expenditure Amount for which there is
a legal obligation to spend in the future. A purchase
order is a typical encumbrance transaction.
• Expenditure: Amount for which there has been an
expenditure of funds. An expenditure is recorded in
Commitment Control for both vouchers and journal
entries.
How is Commitment Control Used?
There are 3 levels when KK is turned on:
1.
Control
2.
Tracking with Budget
3.
Tracking without Budget
CONTROL
•
Requires a budget value
•
Will stop a transaction once it exceeds the
budget. This will require an action (budget
revision or find a different funding source).
Tracking with Budget
•
Requires a budget value
•
Will notify Budget Manager if a
transaction exceeds the budget, but
will not stop the transaction.
Tracking without Budget
•
Does not require a budget value
•
Will track expenses only
KK Decisions
Globally: KK has been turned on
Locally: Set KK Levels
• Business units
• Fund
• Class
• Department
• Project
• Activity
Parent Child Budgets
In Commitment Control, there is a
hierarchy between budget definitions
such that a parent budget has one or
more child budgets. The budget amounts
for each child budget together represent
the amount in the parent budget's
bucket, but divided into smaller buckets,
or budgets, for each of the child budgets.
Budget Overview
Houston we have a problem!
Type of Budget Issue
No Budget Line Exceeds Budget
Exists
Line
Out of Date Range Budget is Closed Budget is on Hold
Ability to Override
NO
YES
YES
YES
YES
Error
Error
(Warning Payroll only )
Error
Error
Error
Error
Warning
Error
Error
Error
No Warning/No Error
Warning
Error
Error
No Error
Control Options
Control
Track with Budget
Track without Budget
Adding a Budget
•
Budgets will be added through a journal
adjustment in Hyperion
•
After the budget has been approved,
Hyperion will then publish it back into
PeopleSoft
Adding a Project Budget
•
Any Project budget increases or decreases
will be added in the Project module
•
These will require a contract amendment, in
the contract module
Thank you for your time!
Please let us know if you have any questions or feedback!
Finance SME Listserv:
[email protected]
OR
Any of the ctcLink Finance Team:
Emmett Folk – Lead
Christyanna Dawson
Sherry Stroud
AP, Purchasing, Asset Management
Grants, Contracts, Budgeting
Student Financials
[email protected]
[email protected]
[email protected]
Shon Dicks-Schlesinger
Elena Horton
Cash Management, General Ledger
AR, Billing, Expenses
[email protected]
[email protected]