Controller’s Office/Quality Assurance Kim Coates

1. General Ledger Reconciliation Controller’s Office/Quality Assurance Kim Coates

2. Course Topics • Ledger Reconciliation Objective • Types of Funds • Printing Financials • OMNI Reports • OBI Reports • Source Documents • Omni Financials • Queries • Hummingbird • Corrections

3. Ledger Reconciliation Objective • Verifies the accuracy of the general ledger • Ensures sound financial management of University resources • Provides management, auditors, and other users with reliable financial information • Annual Report • Bond Ratings • Internal Control provides assurance to auditors that our financial statements are fairly stated • Results in a favorable Auditor’s Opinion

4. Reconciliation Guidelines • 2007 – 2008 Controller’s Memoranda #02 • Ledger Reconciliation Guidelines – May 14, 2008 • Controller’s website • http://control.vpfa.fsu.edu/memos.html • Budget Manager or designee is responsible for performing the monthly reconciliation(s). • Reconciliation should be performed by someone that does not originate or authorize the financial transactions

5. Reconciliation Guidelines • Designated file for source documents needed for an accounting period until the ledgers have been reconciled • e.g. purchase orders, invoices, deposit receipts • May use Excel spreadsheet for depts. with a large volume of transactions • Obtain departmental ledger reports • Trace detailed transaction ledger information to supporting documentation

6. Reconciliation Guidelines • In reviewing each of the transactions, the following items should be verified: • Dollar amount is correct • Account code charged is correct • Dept ID and Fund code charged are correct • Expenditure is allowable according to FSU Policies and Procedures – (Expenditure Guidelines) • http://control.vpfa.fsu.edu/payables.html • Write your initials and the Journal ID number and date at the top of each source document • The reconciliation process will identify errors and missing items.

7. Reconciliation Guidelines • Make correcting journal entries • Any reconciling items should be noted on the Ledger Reconciliation Certification and/or the Ledger Reconciliation Correction Record • Reviewed by a Supervisor/Asst Director • Complete Ledger Reconciliation Certification • Should be completed by the end of the following month, and reviewed and signed off on by the end of the second succeeding month • Resolve reconciling items as soon as possible, but no later than the third succeeding month

8. Types of Funds E & G Auxiliary & Locals • The Legislature appropriates money to FSU based on enrollment. • Spending is limited to the budget • Examples: Controller’s Office, Academic depts. • Current Year Funds (110, 210, etc) • Carryforward Funds (140,240, etc.) • Self-sufficient business entities that provide a service to the campus and others for a fee. • Examples: Bookstore, Computer Store, Printing and Mailing Services • Spending is limited to cash • Auxiliary Funds - (300’s/700’s) • Locals: • Student Activities – (610) • Vending – (620) • Athletics – (630)

9. OMNI Monthly Financial Reports • Official University Ledgers • Departmental Ledger Summary • Includes actual and budget information • Summarizes beginning balances, current monthly activity, and ending balances • Detailed Reports • Can run by department or project (C&G) • Includes all University departments • Use binoculars to search for your department • Print only the pages for your department

10. OBI Reporting Financial Reports • Data warehouse tool replaces Business Objects • Summary and Detail Ledgers as current as the previous day – date & time stamped • Wait for notification from the OMNI-Financials Listserv that the OMNI Ledgers are ready before you complete your reconciliation • May want to verify that the totals match the OMNI ledgers (if you completed recon before the OMNI ledgers were released) • Job aids link is located at Controller’s website • http://www.erp.fsu.edu/jobAids.cfm?user=obi

11. Expense Detail Report • Compare all expenditure source documents to the transactions listed on the report • Source documents include: • Invoices • Travel expense reports • Payment request forms • Journal transfer forms • Postal charge slips • Telecom Charges • Expense refund slips (DT 118B) • Facilities Dept Charges

12. OBI ReportsHR-GL Detail • Provides detail of Salary and OPS expense • Verify the employees listed on the HR-GL Detail Report belong in the department/fund you’re reconciling • Compare the Grand Totals to the Departmental Ledger for the month • If it does not equal look for : • AP (Accounts Payable) journals • Usually an employee that paid for benefits with a personal check instead of payroll deduction • May need role request to access the report

13. Hummingbird • Purchasing, Accounts Payable, and Travel source documents are scanned into this program • Lookup Expenses by: • PO # • Voucher # • Invoice # • Vendor # • Travel Expense Report # • Link on Controller’s website -http://control.vpfa.fsu.edu/

14. P-card Expense • Use the approved P-card Reconciliation as backup for the P-card expenses • FIA Card Services – on GL • Verify that the amounts and accounts charged are correct • Verify department and fund charged are correct • Query to look up P-card expenses • FSU_PCARD_TRANS_INFO • Need Employee ID numbers

15. Revenue Detail Report • Compare revenue source documents to the transactions listed on the report • Source documents include: • DT118 forms with receipt from Student Financial Services • Revenue-to-Revenue transfer forms • Florida State University Refunds Forms • Sales Tax or other refunds • Bank Deposit Slips • SFS Cashier Receipts • Returned Checks

16. Encumbrance Detail Report • Encumbrance is an allocation or reservation of funds for a particular expenditure in the future • Encumbrances are established by: • Travel Authorizations • Purchase Orders • Payroll Charges • Track Encumbrances to make sure they are closed when final payment is made

17. Encumbrance Detail Report • Ensure Travel Authorizations that have been fully paid with an Expense Report no longer have remaining encumbrances • Any Travel or Purchase Order encumbrances (excluding Blanket POs) that are over 90 days old should be researched and explained on the Monthly Reconciliation Certification

18. Liability Detail Report • Verify each liability created is cleared • Research any liability that is carried forward continuously from one accounting period to another

19. Cash Detail Report • Details all cash transactions for the month • Generally the cash balance is checked throughout the month • Controller’s Office is responsible for cash reconciliations • Check Cash balance on the Departmental Summary Report

20. Transaction Details Report • Download Detail Departmental Ledgers to: • Excel • PowerPoint • Excel 2000 • Data • Web Page • Print Option

21. OMNI Financials • Travel and Expense Center • Lookup Travel Authorizations or Expense Reports • Financials 8.9>Travel and Expenses>Travel and Expense Center>select Travel Authorization or Expense Report>View • General Ledger Center • Lookup Journals • OMNI Financials 8.9>General Ledger>Review Financial Information>select Journals

22. Queries • OMNI Navigation • FINANCIALS 8.9>Reporting Tools>Query Viewer • Useful Queries (FSU_DPT) • Cash Balance (Auxiliaries) • GL Journals • Trial Balance • GL Source Codes • P-Card Transactions • Complete list of FSU_DPT queries at http://control.vpfa.fsu.edu/queries.html

23. Corrections • Correcting Outstanding Travel Authorizations • If the travel did not occur, have the travel rep that originated the TAuth delete the Travel Authorization. • If the travel did occur, but was paid from another funding source, have the travel rep that originated the TAuth cancel the Travel Authorization • If the travel did occur, but the travel rep did not choose the Quick-Start option “A Travel Authorization” to copy- from TAuth when creating the ER, have the travel rep print/copy an Expense Receipts page for the ER, write a note to file on the blank page referencing the canceled TAuth, fax the page to Hummingbird DM, and then cancel TAuth

24. Corrections • O/S Travel Auth. Continued – • Hummingbird Fax – Travel Contact List – 645-9501 • If the ER references the Tauth, cancel the TAuth • If the travel did occur and was never paid, have the travel rep complete an Expense Report. • Encumbrance Reduction or Cancellation • Purchasing Website • Forms – • Change Request Form

25. Corrections • Chartfield Error (Dept, Fund, Account, Amount) • Controller’s Forms • Expenditure Transfer Journal Entry Form (Non-Construction) • Deposit Errors • Student Financial Services Forms • Correction Form

26. Retain Records • Reconciliations should be retained indefinitely

27. Helpful websites • Controller’s Office - http://control.vpfa.fsu.edu/ • Forms • Policies & Procedures • Controller’s Memoranda • Fundamental$ • Queries • Budget Office - http://www.budget.fsu.edu/ • Training Manuals and Policy • Auxiliary Manual • Auxiliary Policies

28. OMNI Report Navigation • Reporting Tools • Report Search Page • Input : • Period • Department • Project # • Fund Code • Print Summary Ledger • Print Detail Reports: • Cash, Liability, Encumbrances, Expense & Revenue • Use Search icon to locate your Dept and Print only the pages related to your dept

29. OBI Departmental Ledger ReportsNavigation • OMNI Home Page>OBI Reporting>Login FSUID and Password> Go to top FinancialReports>Select Departmental Ledger AUX, EG or CF • Summary Ledger (top left tab) report default • Detail Ledgers (top left tab) • Job aid – Enterprise Resource Planning website • http://www.erp.fsu.edu/jobAids.cfm?user=obi

30. OBI ReportsHR-GL Detail Navigation • Verify Salary & OPS • OMNI Navigation > OBI Reporting > Enter FSUID and Password>Go to top HR Reports>Select “HR-GL Detail” • Job Aid • http://erp.fsu.edu/job_aids/DeptReps/JobAid_OBIHRGL_Detail.pdf • May need to request role to have access to these reports. Go to: OMNI Portal Home page e-ORR – Online Role Requests • Request: FSU_PR_DEPARTMENT_USER

31. Contact Information • Please contact me with any questions or suggestions. • Kim Coates Controller’s Office/Quality Assurance 644-9482 kcoates@admin.fsu.edu Handouts may be downloaded at ….. Controller’s Office Training Materials/Job Aids GL-4000 http://control.vpfa.fsu.edu/Controller-s-Office-Training-Materials-Job-Aids