TARLETON STATE UNIVERSITY

Office of Business Services Canopy Training March 25, 2015

JUST A LITTLE ACCOUNTING HUMOR…

WHAT’S NEW AT THE TSU CAMPUS

In Progress Changes

 University Services Fee Collapse. 17 Revenue fees collapsed into 1 fee. Changed about 100 accounts campus wide.  Electronic Payroll Action (EPA). Academic Affairs implemented. Other areas are coming soon. Replaces PBAs, PAFs.  Buy A&M – Purchasing Documents Electronically. Campus Fully implemented. Replaces RTPs.  USF Account structure changes. All USF accounts will only have SL, and will all accounts will start with 201XXX.  Different Construction Projects around campus – Admin building included. Area should be ready for the fall semester.  Wellness Initiatives, and Fitbits!

Future Changes

 Designated Tuition Fee Account structure change. Implemented for FY16.  Chart of Accounts structure change.  Departmental Budget Transfers (DBR) implementation. Automates the process of fund changes.  Automation of deposits with cashiers office.  More construction projects across campus.  New Human Resource Management software. Selected from Texas A&M University System.

THE TSU ACCOUNTING LANGUAGE

•

Key Words: (See Handout)

 Account numbers  Sub codes  Sub Accounts |Support Accounts  Fund Balance  Budgets  Budget Pools  Salary pool  Wage pool  Benefit pool  Operations & Maintenance pool  Actuals  Expenses  Pin Numbers  Annual Salary  Encumbrances (open Commitments)  Fiscal Year  GL Account Summary  SL Account Summary

FUNDS, BUDGETS, ENCUMBRANCES, ACTUALS

What are the differences between these categories?

FUNDS, BUDGETS, ENCUMBRANCES, & ACTUALS

 Think of it as four distinct separate categories.

1. Budget

is how much to spend on each type of goods/services for the year.

2. Actuals

is what has paid up to the current point in time.

3. Encumbrances

will pay in the future. is a known expense that

4. Funds

is “money in the bank” 1. Budgets 2. Actuals 3. Encumbrances 4. Funds

BUDGETS, ACTUALS, ENCUMBRANCES

FUNDS

EXPLANATION OF BUDGETS

 Budgets is an estimation of revenue and/or expense over a specified period of time.  Budgets are usually compiled and re-evaluated on a periodic basis.  Adjustments are made to budgets based on the goals of a department, college, division, and/or the organization.

 Adjustments can be seen as “Budget Revisions” or “Budget Transfers”  Budget can be located in the 1100, 1700, 1900, 3000, and 8000 budget pools/subcodes only in Canopy.

THE DIFFERENT BUDGET POOLS

 1100 is Salaries.  1700 is Wages  1900 is Benefits  3000 is Operations & Maintenance  8000 is Capital

EXPLANATION OF ENCUMBRANCES

 Encumbrance is an estimation of an expense over a specified period of time.  Adjustments are made throughout the fiscal year.  Encumbrances are primarily in the 1105, 1605, 1906 subcodes.  1105 is salary encumbrance  1605 is longevity encumbrance  1906 is benefit encumbrance  Encumbrances can also be placed in the operation maintenances subcodes and capital subcodes. Ex: Copier Expense  The range of subcodes is 3010-6935 for Operations & Maintenance.  The range of subcodes is 8010-8817 for capital.

LINK IT ALL TOGETHER

 The department of Business Services has a pin number T02515. The pin number has an annual salary of $50,000, for a 12 month term. There are 7 months left in the fiscal year. 1. What are the actuals? 2. What are the encumbrances? 3. What is the annual budget?

Pin Number 1-Sep

T02515

Budget

50,000.00

1-Feb

T02515

31-Aug

T02515 50,000.00

Actuals

= (50,000/12)* 5 50,000.00

Encumbrances Available

50,000.00 50,000.00 $ 20,833.33 $ 29,166.67 = (50,000/12)* 7 -

HOW TO FIND YOUR BUDGET/FUNDS IN CANOPY

A.) September 1 of the new fiscal year: there will be a Ref2 journal entry postings, BUDXXXX. Ex: Bud1415 • Ex: On Page 8 B.) September 1 of the new fiscal year: There will be a Ref2 journal entry posting: TXRXXXX. Ex: TXR1415. • Ex: On Page 8 • Both the funding and Budgets should reconcile. (Both totals should be the same.) • (For teaching purposes, the example given does not match. A budget revision (non cash transaction) of $54,635 would be needed.) *Note: With the USF account structure, only step A is necessary. As mentioned, the chart of accounts changes will also have the same setup as the USF structure.

“Transfers In” Subcodes

 4910 – State  4920 – Designated  4930 – Auxiliary  4940 – Restricted  4950 – Restricted  4960 – Restricted  4970 - Loans  4980 – Construction

GL FUNDING CODE DETAILS

“Transfers Out” Subcodes

 5910 - State  5920 - Designated  5930 – Auxiliary  5940 - Restricted  5950 – Restricted  5960 – Restricted  5970 – Loans  5980 – Construction

SL BUDGET FOR ACCOUNT

GL FUNDING FOR ACCOUNT

TAKE BREAK (IF NEEDED) ANSWER ANY QUESTIONS Next Topic: How to utilize Canopy Effectively

HOW TO UTILIZE CANOPY EFFECTIVELY

CANOPY.TAMUS.EDU

CANOPY PASSWORDS

• Must Begin with a Letter • • Must have 8 characters exactly. Must have at least 1 number • Cannot be a prior password

CANOPY

 User Friendly  Point & Click  Cannot be altered  Back button function  Easy to sign in

 Change Fiscal Years  Turn paging on/off  Set themes (customization)  User Profiles (System Tab)  Account Attributes  Tables Menu  FRS > Tables  GL and SL Codes  Department Table

QUICK CANOPY TIPS

 Financial Records Systems (FRS)  Fixed Assets (FFX)  Personal Action Module (EPA)  Document Routing (Routing)  System setting and general information (System)

CANOPY MODULES

FRS MODULE: PRIMARY FOR USERS FUNCTIONS IN FRS TAB

 Financial Accounting - transactions relating to financial operations such as budgets, revenues, expenses, and journal entries  Accounts Payable - transactions relating to vendor payment including preparation of checks and files for State of Texas warrants  Accounts Receivable - transactions relating to billing and payment receipt for goods or services rendered  Purchasing - transactions relating to ordering, receipt and initiation of payment of goods and services  Payroll Distribution - processes relating to the distribution of payroll expenses for research projects  Budget Preparation - processes relating to the preparation of the annual budget to be presented to the TAMUS Board of Regents

• Account Numbers • • Department Codes Responsible Person • Title of Account • Ex: USF

INFORMATION NEEDED TO SEARCH

10 TOTAL ACCOUNT DETAIL TABS

• • • •

MY ACCOUNTS TAB

Account Search Tab Type in Account • Ex 231250 (include Support Accounts if needed) Check the Add Check box, on right side of screen. Click the Add Button

OPEN COMMITMENTS TAB

 Open Commitments are the encumbrances placed in the account.  Salary, Benefits, Longevity, and Operations & Maintenance.  Original – Beginning Encumbrance  Adjusted – Amounts that have been added/Removed.  Liquidated – Amounts that have been paid.  Current – Future amounts to pay

• • • • In the search results box, and the active accounts box, you will see a green excel icon and an Adobe PDF icon for each account. Select single or multiple accounts at a time to view reports. Place a check mark in the box to the right of the icons. To download, click on the icon of preference.

REPORTS TAB

REPORTS TAB

Report Will Include:

 Revenue Activity (if applicable)  Expense Activity  Encumbrance Activity

 Reconcile Fund Balance of an account  Reconcile Beginning Balance of an account  Reconcile specific transactions by object code(Subcode).  Reconcile specific payroll items

ACCOUNT DETAILS

• • • Fund Balance are on the GL Account. (the zero gets move to the beginning of the account, from the end. Ex: SL 231250, GL 023125 Information is found on the GL Account Summary. Formula: • • • “Fund Balance” – “Encumbrances” Fund Balances are line 3200 on GL Encumbrances are line 9620 on GL

FUND BALANCE

 Steps:  GL Account  Begin Balance Column  As of September 1 of new fiscal year.  Formula:  Fund Balance – Encumbrances  If you want Begin Balance during the fiscal year:  Ex: Balance as of February 1. Then take Prior months Ending Totals. BEGINNING BALANCE

 You will see the Object Code on the left with a description  You can click on the arrow on the far left of the object code to see each transaction posted to that individual code  The account is divided into Budget Pools– Revenue-0001, Salaries-1100, Wages-1700, Benefits-1900, and Other Expenses-3000  You can see your beginning budget figure by viewing the budget column for the ****Total XXX Pool line.

ACCOUNT ACTIVITY BY OBJECT CODE

ANSWER ANY QUESTIONS?

FEEL FREE TO CALL BUSINESS SERVICES WITH ANY QUESTIONS  Budgets office  Karen Fincher  Susan Gordon  Lindsey Davis  Accounting Office  JoAnna Ince  Courtni Howell  Kirsten Dollarhide  Charlotte Smith  Becky Wood  Accounts Payable Office  Christy Pfau  Ashley Starnes @ Ext 9109 @ Ext 9433 @ Ext 9379 @ Ext 9615 @ Ext 9431 @ Ext 9430 @ Ext 9382 @ Ext 1927 @ Ext 9106 @ Ext 9434