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Financial Overview FI_200 Online Course

This online course provides an introduction to the basic concepts of the Financial Modules in the IRIS System. It covers financial accounting, funds management, controlling, grants management, and business warehouse reporting.

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Financial Overview FI_200 Online Course

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  1. Financial Overview FI_200 Online Course

  2. Financial Overview Introduction This is an online course that introduces the basic concepts of the Financial Modules in the IRIS System. This course is intended to give you a high level overall perspective of finance in the IRIS system. It is not intended to be specific in any one area. If you have this course listed on your training plan, this course is available both via the web or classroom training. A Student Guide is intended to accompany this course. It provides additional explanation and clarification to the information presented on the slides. Please refer to the Student Guide as you proceed though this course. There is also a Practice Guide available that provides all the procedures necessary to practice the demonstrations shown in this course in the IRIS Training Sandbox and the way you will get comfortable with the IRIS system is through practice… practice… practice. The following are the components of the FI_200 Financial Overview Online Training Course: FI_200 Financial Overview Online Training Course – Simulation FI_200 Financial Overview – Student Guide FI_200 Financial Overview – Practice Guide FI_200 Financial Overview – IRIS Training Notification form FI_200 Financial Overview – Course Evaluation Important:When you have completed this course you will need to submit the completed IRIS Training Notification form in order to get credit for the class. Please also take a moment to complete the Course Evaluation and let us know what you liked, or didn’t like, about this course. Send any comments and suggestions to IRISTraining@email.uky.edu Remember the Training Sandbox is available 24/7 for you to practice the exercises contained in the Practice Guide as many times as you like. FI_200 Financial Overview Online Training Course (v1)

  3. Course Content • Unit 1 - UK Processes and IRIS Components • Unit 2 - Financial Accounting • Unit 3 – Funds Management • Unit 4 – Controlling • Unit 5 - Grants Management • Unit 6 – Business Warehouse Reporting • Course Summary FI_200 Financial Overview Online Training Course (v1)

  4. Learning Objectives • You will understand at a high level: • UK account structure • Financial document parking (JVs) and posting (DAVs) • Funds Management • Grants Management • Cost Management • You will be able to: • Display FM, CO, and GM Master Data • View Document Information • Generate FI, FM, and CO Reports FI_200 Financial Overview Online Training Course (v1)

  5. Prerequisites and Roles • Prerequisites: • UK_100 IRIS/SAP Awareness & Navigation • Roles: • Financial users of the IRIS system • Financial analysts • Financial accounting users FI_200 Financial Overview Online Training Course (v1)

  6. Unit 1 Unit 1 - UK Processes and IRIS Components FI_200 Financial Overview Online Training Course (v1)

  7. Statutory Reporting FI - Finance Track Budgets &Earmarked Funds ExternalReporting FM - Funds Mgmt. DepartmentalCost Reporting Encumbrance Accounting Company Codes Business Areas CO - Controlling ManagementReporting Financial Mgmt Area, Functional Areas Cost Center, WBS Element, Internal Order General ledger accounts Funds Center, Funds Controlling Area FM Document Commitment items Cost CenterInternal Order CO Document Primary Cost Elements The FM & CO Documents are created by FI in the background. FI, FM, and CO Integration FI_200 Financial Overview Online Training Course (v1)

  8. IRIS System MM Purchasing,Hosp Inventory Batch feeds HR HumanResources FI AP/AR Payables & Receivables FI-GL General Ledger SD SponsorBillings Manual Entry CM Campus Management GM GrantsManagement PM PlantMaintenance Automatic postings into FI-GL Postings to General Ledger Accounts Most FI, FM, and CO documents are created automatically internally. Some FI documents such as JVs, Requisitions, DAVs, etc. are created manually. FI_200 Financial Overview Online Training Course (v1)

  9. Key Terminology IRIS has different names for the same data depending on the module. FI_200 Financial Overview Online Training Course (v1)

  10. Numbering Scheme for Chart of Accounts FI_200 Financial Overview Online Training Course (v1)

  11. Unit 2 Financial Accounting FI_200 Financial Overview Online Training Course (v1)

  12. Financial Accounting (FI) • Financial Accounting module has several sub-ledgers. • Accounts Payable and Accounts Receivable • Cost Centers, WBS Elements, Internal Orders, Grants • Vendors, Capital Projects • Data flows from the sub-ledgers into the general ledger on a real time basis via a reconciliation account. • Every financial based transaction entered in IRIS needs information such as a Company Code, a Business Area, Fund, and a GL Account. Some are entered directly and others are derived from Master data. • Revenue and expense GL items also need a Fund, and a CO cost object (Cost Center, Internal Order or WBS Element). • Business Warehouse is used to display financial ledgers by Fund and Grant. FI_200 Financial Overview Online Training Course (v1)

  13. Office supplies = 540334 FI Finance FM Funds Management CO Controlling GL Accounts Commitment item Primary Cost Element equals equals General Ledger Account • Transactions are posted in FI through the general ledger account. • A general ledger account has a corresponding commitment item in FM and a PCE (Primary Cost Element) in CO. • General ledger accounts represent the WHAT of a transaction in CO. • The FM & CO Documents are created by FI in the background. FI_200 Financial Overview Online Training Course (v1)

  14. GL Account Numbering Convention FI_200 Financial Overview Online Training Course (v1)

  15. GL Account Numbering Convention FI_200 Financial Overview Online Training Course (v1)

  16. Vendor UK Department Accounts Payable Vendor sends invoice for goods or services UK department prepares IRIS DAV Form & attaches invoice A/P audits and posts invoice using FB60 Payment created (Document Type KZ) Vendor inquires for payment information UK department can verify check payments FB03 Accounts Payable sends check to vendor Department Authorization Voucher (DAV) Process Form sent by department, then entered and posted by accounts payable. FI_200 Financial Overview Online Training Course (v1)

  17. General Accounting, Hosp or SPA UK Department Journal Voucher UK department completes FV50 attaches invoice parks as complete JV document, approvals and related docs G/A audits parked documents and approvals UK department can change parked document with FBV2 G/A posts parked documents UK department can delete parked document with FBV0 Files journal vouchers UK department can verify posted document with FB03 Journal Voucher Process Entered and parked by department then posted by accounting. FI_200 Financial Overview Online Training Course (v1)

  18. UK Department “parking” UK Department “posting” Procard Bank Procard chargescreate “parkeddocuments” usingdefault cost center& GL account Procard bank collects and transmits charges to UK overnight UK departmentsre-charge costs tocorrect cost center &GL account via Webportal and parkeddocument is savedas complete UK departments, after approvals, select and post parked documents Procard Editing Process Procard re-charges are posted by departments. The process starts when the Procard is used to purchase goods instead of a PO FI_200 Financial Overview Online Training Course (v1)

  19. DocumentType NumberRange Financial Transaction From To GL Account Document SA 01 0100000000 0199999999 Vendor Invoice KR 19 1900000000 1999999999 Vendor Payment KZ 15 1500000000 1599999999 IRIS Database Goods Receipt WE 50 5000000000 5099999999 Invoice - Gross RE 51 5100000000 5199999999 Invoice - Net Procard RN YY 77 51 5100000000 7700000000 7799999999 5199999999 Document Types and Number Ranges Documents are uniquely identified by a document type and number. FI_200 Financial Overview Online Training Course (v1)

  20. Demonstration Demonstration 2.1 Scenario You want to know the balance for operating expense accounts for a specific month and fiscal year to date. FI_200 Financial Overview Online Training Course (v1)

  21. From the SAP main menu use transaction code S_ALR_87012301 - GL Account Balance Display FI_200 Financial Overview Online Training Course (v1)

  22. After entering the information click the Execute icon. Enter the Chart of Accounts, GL Accounts range, and Company code fields. For this demo we will use reporting period 2 of fiscal year 2006. Fiscal years at UK are July 1st (reporting period 1) thru June 30th (reporting period 12) and are know by the year they end. So…reporting period 2 of fiscal year 2006 is actually August 2005. FI_200 Financial Overview Online Training Course (v1)

  23. This is the GL Account Balance report for reporting period 2 of fiscal year 2006. It shows: GL Accounts/names…debit/credit totals for period 2…debit/credit totals for YTD…total debit/credit balance. FI_200 Financial Overview Online Training Course (v1)

  24. Demonstration Demonstration 2.2 Scenario You need to check the details for a particular document for your Cost Center. FI_200 Financial Overview Online Training Course (v1)

  25. From the SAP main menu use transaction code FBL3N – G/L Account Line Items FI_200 Financial Overview Online Training Course (v1)

  26. To narrow the search to your Cost Center, click on the Dynamic Selection icon. Enter the G/L account range, the Company code (if necessary), select All items, and a date range. FI_200 Financial Overview Online Training Course (v1)

  27. Double click Cost Center to make it available on the right side. FI_200 Financial Overview Online Training Course (v1)

  28. After entering the information click the Execute icon. The Cost Center is now highlighted to indicate it is available search criteria on the right side. Enter the Cost Center number. FI_200 Financial Overview Online Training Course (v1)

  29. In the search results, double click on line item to drilldown into document Use the “sun going over the view of the mountain” icon to display the document overview. View details about the line item FI_200 Financial Overview Online Training Course (v1)

  30. Unit 3 Funds Management FI_200 Financial Overview Online Training Course (v1)

  31. Funds Management (FM) – Fund Centers • Funds Management is used to organize and track revenue and expense in budget format. • Fund • A self-balancing set of accounts used to budget and control costs • Identifies source and use of funding • Funds Center • Represents organizational area of responsibility for budgeting revenue and expenses. • Derived from Cost Center with one-to-one relationship • Example: Cost Center and Funds Center - 1012084710 – IRIS Project • Both Funds and Funds Center can be grouped for reporting purposes. FI_200 Financial Overview Online Training Course (v1)

  32. Additional UK Fund Fields Fund Master Data FI_200 Financial Overview Online Training Course (v1)

  33. Additional UK Fund Center Fields Funds Center Master Data FI_200 Financial Overview Online Training Course (v1)

  34. Enter criteria (grant, fund, funds center, commitment item, or functional area) You can enter a combination or range of the above or leave blank for all data. You can further narrow selection by date FM Document Journal Report - FMRP_RFFMEP1AX FI_200 Financial Overview Online Training Course (v1)

  35. Funds Management – Document Journal Report • Reports can be customized as needed. They can be: • Totaled (e.g., Payment Budget field) • Subtotaled (e.g., Commitment Item field) • Sorted by any field • Exported to Excel • Emailed to someone FI_200 Financial Overview Online Training Course (v1)

  36. Demonstration Demonstration 3.1 Scenario You need to find out what the functional area is that is associated with a particular Funds Center. FI_200 Financial Overview Online Training Course (v1)

  37. From the SAP main menu use transaction code FMSC - Display Funds Center FI_200 Financial Overview Online Training Course (v1)

  38. Enter the Funds Center number (and FM Area if necessary) and press enter. FI_200 Financial Overview Online Training Course (v1)

  39. FMSC displays Funds Center Master data. It has tabs of information and one pushbutton. The Functional Area is shown on this additional screen. FI_200 Financial Overview Online Training Course (v1)

  40. Demonstration Demonstration 3.2 Scenario You would like to see the documents entered for a fund center and then manipulate the report data. FI_200 Financial Overview Online Training Course (v1)

  41. From the SAP main menu use transaction code FMRP_RFFMEP1AX – All Postings FI_200 Financial Overview Online Training Course (v1)

  42. After entering the information click the Execute icon. Enter the FM Area if necessary and the Funds Center number. For this demo we will use reporting periods 1 to 12 of fiscal year 2006. Reporting periods 1 to 12 of fiscal year 2006 is actually July 2005 through June 2006. FI_200 Financial Overview Online Training Course (v1)

  43. This is the Document Journal Line Item report. FI_200 Financial Overview Online Training Course (v1)

  44. To total the Payment Budget column, first identify the column by clicking once on the column header and then click on the Total icon. FI_200 Financial Overview Online Training Course (v1)

  45. Once a column is totaled the sub-total icon appears. To sub-total by GL Accounts, first identify the column by clicking once on the column header and then click on the Sub-Total icon. FI_200 Financial Overview Online Training Course (v1)

  46. The report is now totaled by the Payment Budget column and sub-totaled by GL Accounts. FI_200 Financial Overview Online Training Course (v1)

  47. To sub-total by Fund, identify the column by clicking once on the column header and then click on the Sub-Total icon. FI_200 Financial Overview Online Training Course (v1)

  48. The report is now totaled by the Payment Budget column and sub-totaled by Fund. FI_200 Financial Overview Online Training Course (v1)

  49. The report layout can be changed by clicking on the Change Layout icon. FI_200 Financial Overview Online Training Course (v1)

  50. In the Change Layout dialog box, the right column shows the columns that are now visible in the report and the left column shows the columns that are now hidden. By moving columns from one column to the other they will either become visible or hidden in the report view. Sort orders and filters can also be set. Many layouts can be saved for different report views. The various saved layouts can then be used when required. FI_200 Financial Overview Online Training Course (v1)

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