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STATE OF CONNECTICUT Core-CT Project

Agenda for the Core-CT Project Financials User Group Meeting covering various topics such as GL, AR/Billing, Year-End Preparation, and SP-2 impacts. Includes FAQ's and issues.

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STATE OF CONNECTICUT Core-CT Project

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  1. STATE OF CONNECTICUTCore-CT Project Financials User Group MeetingAR / GL / Billing February 2005

  2. Agenda • GL • SP-2 Impacts • Reviewing PO Encumbrances • GL Reporting • Year End Preparation • AR/Billing • SP-2 Impacts • Transition from AR to Billing • Closing Periods Update • Housekeeping BREAK • Billing FAQ's and Issues • EPM Impacts - SP-2

  3. Acknowledgements • SP2 User Acceptance Testing Participants • SP2 User Validation • Billing User Acceptance Testing Participants • Billing User Validation

  4. Agenda GL • SP-2 Impacts • New Run Controls • GL Reporting/Inquiry • Grants: Tying Revenues and Expenditures • Commitment Control vs. General Ledger • Encumbrance Accounting Entries • Budget Reference vs. Budget Period • PO Accounting Entries • Year End Preparation

  5. SP2 Impacts • Budget Transaction Detail Report • GL Trial Balance Report • GL Activity Report • Budgets Overview

  6. Budget Transaction Detail Report Do not Select

  7. Trial Balance Report Inactive Chartfields Available

  8. GL Activity Report Blank From To Values OK

  9. Budgets Overview Wildcards OK

  10. GL Reporting / Inquiry • Grants: Linking Revenue and Appropriation Budgets • Commitment Control vs. General Ledger

  11. Grants • Revenue Budget Inquiry • Recognized Revenue • Collected Revenue • Appropriation Budget Inquiry • Budgeted Amount • Expenditures

  12. Grant Revenues

  13. Grant Appropriation

  14. Commitment Control vs. General Ledger • Ledger Characteristics • Reports • Balances

  15. General Ledger Ledgers: MOD_ACCRL, MOD_CASH, ACCRUAL Balances by Period (Periods 1-12) No Encumbrances Posting Journal Entries update Ledgers Detail Account and Department Values SSJs, ONLs, DCs, PCs Accounting Date / Fiscal Year Commitment Control Ledgers: KK_APPROP, ALLOT, AGY, PRJ Balances YTD (Budget Period 2005) Encumbrances Budget Check updates Ledgers Roll-up Account and Department Values Budget Journals Budget Date / Budget Period Ledger Characteristics

  16. Reports / Inquiries Commitment Control> Review Budget Activities> Budget Reports • Trial Balance of Appropriations • Budget Status Report Commitment Control> Review Budget Activities> Budget Inquiries • Budget Transaction Details EPM Reporting Tools> PS nVision> Define Report Request • CFSR

  17. Reports / Inquiries General Ledger> General Reports • Trial Balance • Expenditure Detail Report • Journal Entry Detail • GL Activity General Ledger> Journals> Process Journals • Detail and Summary Revenue • Cash Trial Balance Report General Ledger> Review Journal Ledger Data • Journal • Ledger

  18. Commitment Control Balances

  19. Commitment Control Balances

  20. Budget Status Report

  21. General Ledger Balances

  22. GL Trial Balance Report

  23. Encumbrance Accounting Entries • Budget Reference vs. Budget Period • PO Accounting Entries

  24. Budget Reference Chartfield Value Entered Online Determines which pool of funds are being used for this transaction. Where is the money coming from? Budget Period Calculated based on Budget Date 7/01/2004-6/30/2005 = Budget Period 2005 Determines which Budget Year the transaction will be posted to. When is the transaction recorded? Bud Ref vs. Bud Period

  25. PO Accounting Entries Q: Is this PO Encumbering Funds in the Current Budget Period?

  26. PO Accounting Entries Q: Is this PO Encumbering Funds in the Current Budget Period? A: Yes. See entry for Budget Period 2005.

  27. PO Accounting Entries Q: Is this PO Encumbering Funds in the Current Budget Period?

  28. PO Accounting Entries Q: Is this PO Encumbering Funds in the Current Budget Period? A: No. Budget Period for all transactions is 2004.

  29. PO Accounting Entries Q: Is this PO Encumbering Funds in the Current Budget Period?

  30. PO Accounting Entries Q: Is this PO Encumbering Funds in the Current Budget Period? A: No. Encumbrances for Budget Period 2005 have been fully reversed.

  31. Year-End Preparation • Review Agency Budgets Budgets Overview Inquiry

  32. Budgets Overview ABC10000 ABC10000

  33. Budgets Overview Look for potential issues that may require attention, prior to year-end.

  34. Budgets Overview Payroll?

  35. Budgets Overview What type of transaction would cause this? Drill down.

  36. Budgets Overview

  37. Year-End Preparation • Review UnMatched POs • Review UnSourced Reqs • Review Transactions in Budget Error

  38. Year-End Preparation • Review Trial Balance Reports • Confirm all General Ledger journal entries have been edited and posted to the General Ledger. • EPM> CT_CORE_FIN_GL_JRNL_ERRORS • EPM> CT_CORE_FIN_GL_VALID_JRNLS

  39. AR/Billing • SP-2 Impacts • Transition from AR to Billing • Closing Periods Update • Housekeeping • Open Items • OA Payments • Auto-Matching • Maintenance Worksheets • Billing FAQ's and Issues

  40. Critical Reminders • Check your open items before direct journaling deposits • Don’t unpost an item if the payment has been applied • Keep your deposit processing current SP-2 Impacts • Payment Worksheets

  41. AR SP2 Impact

  42. AR/Billing Transition Agencies can no longer Direct Journal payments from: External Customers GIRO payments Federal Receivables ONLY miscellaneous cash deposits can be Direct Journaled Agencies should no longer issue or accept pre-printed CO-608 State Transfer Invoice forms, except from DOIT and DAS Fleet Operations Agencies should issue or accept only system-generated invoices, with the exception of DOIT and DAS Fleet Operations own system-generated invoices

  43. AR/Billing Transition Users won’t have to separate payments according to type. A portion of a Deposit can be applied to an open Item The remainder can be Direct Journaled, if it is miscellaneous cash Agencies will create Bills for: External Customers Expenditure Transfer Invoices Service Transfer Invoices Grant Transfers Federal Receivables Agencies can use Payment Predictor for: State Customers External Customers Federal Customers

  44. AR/Billing Transition If you need to credit an Item that was created in AR prior to Billing go live, users should Credit and then enter a New Bill. If you need to credit an Item that was created in Billing, users can Adjust Bill Lines or the Entire Bill using the Credit/Rebill function. Users should not use Spreadsheet Journals or Online Journals to correct accounting errors for Items or Bills. Users should use Spreadsheet Journals or Online Journals to correct accounting errors for Direct Journals.

  45. AR • Collections • Maintenance • Payment Predictor (Auto Maintenance) • Auto Maintenance matches debits and credits under a Customer ID in AR so users do not have to manually match them up on a Payment or Maintenance worksheet • Auto Maintenance will not match items if there is more than one item for the same amount under one Customer ID for a Business Unit

  46. AR> Collections • Before Issuing Customer Statements, Dunning Letters or Overdue Charges • Research Outstanding Balances • Online • Aging Report

  47. AR> Collections> Customer Information> Credit Profile

  48. AR> Collections> Customer Information> Credit Profile> 121+

  49. AR> Collections> Customer Information> Credit Profile> 121+

  50. AR> Collections> Reports> Aging Reports> Aging Detail by Unit

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