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COLUMBIA UNIVERSITY Financial Accounting System (FAS)

COLUMBIA UNIVERSITY Financial Accounting System (FAS). Kenneth G. Williams. Call Financial Accounting & Operations. Manager, Financial Accounting & Operations Kenneth Williams, 854-1012 Journal Entries, Budget Entries and Account Creates Interdepartmental Invoices (non-project accounts)

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COLUMBIA UNIVERSITY Financial Accounting System (FAS)

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  1. COLUMBIA UNIVERSITYFinancial Accounting System (FAS) Kenneth G. Williams

  2. Call Financial Accounting & Operations • Manager, Financial Accounting & Operations Kenneth Williams, 854-1012 • Journal Entries, Budget Entries and Account Creates Interdepartmental Invoices (non-project accounts) Deleting and Freezing non-project accounts • Diana Ramirez, 854-1013

  3. What is FAS? • FAS is the University’s Financial Accounting System • FAS is the final, legal accounting record of the University

  4. Direct Information • Journal Entries • Attribute Modifications • Budget Entries from the end user departments • Financial Front End System (FFE)

  5. Indirect Information Sub-system feeds from: • Columbia University Alumni & Development System (known as Advance) • Research Administration • Labor Distribution • Procurement Services - Accounts Payable • - Purchasing • Student Financial Services

  6. Kinds of Accounts in FAS • General Ledger (“0” Ledger) 0-XXXXX-XXXX

  7. Kinds of Accounts in FAS Revenues/Expenses or Subsidiary Ledgers (SL) • 1-xxxxx-xxxx • 2-xxxxx-xxxx • 3-xxxxx-xxxx • 4-xxxxx-xxxx • 5-xxxxx-xxxx • 6-xxxxx-xxxx • 7-xxxxx-xxxx • 9-xxxxx-xxxx

  8. Remember • Every Revenue/Expense Ledger must be related to a General Ledger (“0” Ledger) account.

  9. General Ledger Structure Assets, Liabilities, Fund Balances 0 - XXXXX - XXXX Account Control Account Identification Ledger Example of General Ledger Account 0-44320-4220

  10. Subsidiary Ledger Structure Revenues and Expenses 1 - XXXXX - XXXX Thru 9 - XXXXX - XXXX Subcode Account Identification Ledger Example of Revenue/Expense Ledgers 1-60114-0790 6-44320-2100

  11. Subsidiary Ledger - General Ledger Relationship Unrestricted Sub Ledger General Ledger Revenue 1-XXXXX 0-10000 Expenditure 2-XXXXX Thru (General Income) 0-10099 Internally Restricted 4-46xxx 0-13500 (Designated) Extension B Thru 0-13999 Internally Restricted 4-10XXX 0-15000 (Designated) Thru Addition (Ledger 40 on FFE) 0-15599 Auxiliary Enterprises 3-XXXXX 0-16000 Thru 0-16149 Faculty Practice 3-74XXX 0-15600 Addition Thru 0-15999 Faculty Practice 3-7XXXX 0-17XXX Internally Restricted 4-XXXXX 0-18000 (Designated) Thru 0-19999

  12. Subsidiary Ledger - General Ledger Relationship(Continued) Unrestricted Sub Ledger General Ledger Internally Restricted 4-55000 0-16150 (Designated) Thru Thru Extension 4-55599 0-16499 (Ledger 4H on FFE) Internally Restricted 3-6XXXX 0-16500 (Designated) Thru Thru Extension 3-69999 0-16999 (Ledger 4X on FFE) Internally Restricted 4-25000 0-74000 (Designated) Thru Thru (Ledger 42 on FFE) 4-26999 0-74999 Restricted Gov’t. Grants & Contracts Prime 5-20000 0-20000 Thru Thru 5-39999 0-39999 Scope 5-40000 Map 2XXXX Thru & 5-99999 Code 3XXXX Mapcode - is a five digit number that when a zero is placed in front, it will tell the GL account to which an SL account relates.

  13. Subsidiary Ledger - General Ledger Relationship Other Restricted Sub Ledger General Ledger Private Grants Prime 6-40000 0-40000 (Ledger 6A) Thru Thru 6-41999 0-41999 Scope 6-5XXXX Mapcode 40XXX & 41XXX Private Grants Prime 7-78100 0-78100 (Ledger 6A) Thru Thru Extension 7-78999 0-78999 Scope 7-88200 Mapcode 78100 Thru Thru 7-88999 78999 Private Grants Prime 7-70000 0-70000 (Ledger 6A) Thru Thru Addition 7-70499 0-70499 Scope 7-81000 Mapcode 70000 Thru Thru 7-81499 70499

  14. Subsidiary Ledger - General Ledger Relationship(Continued) Other Restricted Sub LedgerGeneral Ledger Private Gifts Prime 6-42000 0-42000 (Ledger 6B) Thru Thru 6-44999 0-44999 Scope 6-6XXXX Mapcode 42XXX Scope 6-7XXXX Mapcode 43XXX & 44XXX

  15. Subsidiary Ledger - General Ledger Relationship(Continued) Other Restricted Sub Ledger General Ledger Private Gifts Prime 6-45500 0-45500 (Ledger 6B) Thru Thru Addition 6-45999 0-45999 Scope 6-00001 Mapcode 45500 Thru Thru 6-02000 45999 Private Gifts Prime 6-73000 0-73000 (Ledger 6B) Thru Thru Addition 6-73999 0-73999 Scope 6-02001 Mapcode 73000 Thru Thru 6-04999 73999

  16. Subsidiary Ledger - General Ledger Relationship(Continued) Other Restricted Sub Ledger General Ledger Endowment Income Prime 6-46000 0-46000 (Ledger 6C) Thru Thru 6-49999 0-49999 Scope 6-8XXXX Mapcode 46XXX Thru 48XXX Scope 6-9XXX Mapcode 49XXX Endowment Income Prime 6-53000 0-53000 (Ledger 6C) Thru Thru Addition 6-53999 0-53999 Scope 6-87000 Mapcode 53000 Thru Thru 6-88999 53999

  17. Subsidiary Ledger - General Ledger Relationship(Continued) Other Restricted Sub Ledger General Ledger Student Loan Funds NONE 0-5XXXX (not 0-53000 Thru 0-53999) Endowment NONE 0-60000 Principal Thru 0-69999

  18. Subsidiary Ledger - General Ledger Relationship Plant Funds Sub Ledger General Ledger Prime 7-71000 0-71000 Thru Thru 7-72999 0-72999 Scope 7-3XXXX Mapcode 71XXX & 72XXX Prime 7-75XXX 0-75XXX Scope 7-5XXXX Mapcode 75XXX Clinical Trials (Ledger 7A) 7-79000 0-79000 Thru Thru 7-79999 0-79999 Scope 7-88000 Mapcode 79000 Thru Thru 7-88199 79999

  19. Subsidiary Ledger - General Ledger Relationship Other Restricted Sub Ledger General Ledger Clinical Trials ( Ledger 7A) Prime 7-76200 0-76200 Addition Thru Thru 7-76499 0-76499 Scope 7-89000 Mapcode 76200 Thru Thru 7-89199 76499 Agency Funds Prime 9-9XXXX 0-9XXX Scope 9-1XXXX Mapcode 9XXXX

  20. SUBSIDIARY LEDGERS (REVENUES/EXPENSES) 1-XXXXX CURRENT UNRESTRICTED REVENUES include unrestricted gifts and other unrestricted resources earned such as student tuition and fees, Indirect Cost Recovery, etc. 2-XXXXX CURRENT UNRESTRICTED EXPENDITURES include economic resources which are expendable for any purpose in performing the primary objectives of the institution, i.e., instruction, research, and public service, and which have not been designated by outside donors or the governing board for other purposes. 3-XXXXX AUXILIARY ENTERPRISES AND OTHER ACTIVITIES include revenues and expenditures of residence halls and dining services. 3-6XXXX INTERNALLY RESTRICTED (DESIGNATED) & include revenues and expenditures of funds expendable for operating purposes but 4-XXXXX restricted by the University’s governing board as to the specific purpose for which they may be expended, i.e., discretionary funds. 5-XXXXX CURRENT RESTRICTED EXPENDITURES - GOVERNMENT GRANTS AND CONTRACTS include grants from governmental sources for research, training, or other sponsored programs.

  21. SUBSIDIARY LEDGERS (REVENUES/EXPENSES)(Continued) 6-XXXXX CURRENT RESTRICTED EXPENDITURES -OTHER include private gifts and endowment income restricted to a school or a department or restricted for specific operating purposes such as scholarship grants, professorships, purchase of library books, etc. 7-XXXXX PLANT FUND / CLINICAL TRIALS EXPENDITURES Plant funds are used for the acquisition, renewal and replacement, and retirement of indebtedness on physical properties for institutional purposes. Clinical trials are used for the study in human subjects involving a therapeutic or diagnostic intervention with a drug, device, or health care product. 8-XXXXX (Unassigned) 9-XXXXX AGENCY FUNDS included revenues and expenditures of funds held by the institution as custodian or fiscal agent for others such as student organizations, individual students, or faculty members.

  22. System Input Forms Used for FAS Transactions • Request for Journal Entries • Request for Expenditure Corrections • Interdepartmental Invoices • Cash Receipt Voucher Financial Front End System (FFE)

  23. System Output (FAS Reports) • AM090 - Summary Accounting Statement in Whole Dollars (Revenues/Expenses) • AM091 - Detail Report of Monthly Transactions (Revenues/Expenses) • AM091 - Detail Report of Monthly Transactions and Summary to Date (General Ledger) • DSR - Departmental Summary Report (All Ledgers)

  24. ENCUMBRANCES (OPEN COMMITMENTS) Encumbrances represent outstanding purchase orders and other commitments for materials or services not paid as of the reporting date (FAS statement date). In our accounting system, there are three types of encumbrances (open commitments): 1) open purchase orders 2) petty cash 3) payroll FISCAL YEAR/PROJECT YEAR • Monthly reporting at Columbia, on the FAS reports, is either on a fiscal year or project year basis. • The fiscal year is from July to June, and project year covers one fiscal year or several fiscal years.

  25. EXPLANATION OF THE AMO90 MONTHLY SUMMARY(REVENUES/EXPENSE) 1) Sub-code and Description: The sub-code (and its description) when a budget has been assigned or transaction has been processed on that line of account. 2) Budget: The amount of the original budget for the sub-code plus (or minus) supplemental budget amounts or budget amendments. 3) Actual to Date: The Actual revenues or expenses posted to each sub-code for “this month”, “the fiscal year”, or the “project year”. 4) Balance Before Commitments: Budget (Column A) less fiscal year (Column C) for fiscal year accounts, or budget less project year actual (Column D) on project accounts.

  26. EXPLANATION OF THE AMO90 MONTHLY SUMMARY(REVENUES/EXPENSE(continued) 5) Outstanding Commitments: The amount of open commitments that are outstanding as of this report date for each sub-code. 6) Budget Balance Available: The budget balance available (not yet expended or committed). This is equal to the Budget less Fiscal Year Actual and less Outstanding Commitments. On a project account, calculate Budget less Project Actual less Outstanding Commitments. 7) PERC Used: The percentage of budget used on a given sub-code line. (If no budget has been given, percent used will be 0). 8) Open Commitments Status Report: A list of all commitments that were outstanding at the beginning of the month, or created during the month, with their current (month-end) status.

  27. EXPLANATION OF THE AMO91 DETAIL REPORT OF TRANSACTIONS (REVENUES/EXPENSES) 1) Sub-code: Identifies type of revenue or expenditure. 2) Description: Description per input document. 3) Date Input: Date transaction was coded for processing. 4) Order Number (Ref.1): Purchase order number referenced by transaction. 5) EC: Entry Code identifying type of transaction: 2 x = Budget 3 x = Cash Receipts 4 x = Cash Disbursements 5 x = Commitments 6 x = Journal Entries 6) Loc Ref. 2: For transactions originating from Accounts Payable system, the Accounts Payable location code and voucher number are printed here.

  28. EXPLANATION OF THE AMO91 DETAIL REPORT OF TRANSACTIONS (REVENUES/EXPENSES)(continued) 7) Offset Account or Invoice: For transactions originating from Accounts Payable System, the vendor’s invoice number is printed here. On other journal entries, the offset account is printed here. 8) Budget Entries: Dollar amounts for transactions affecting the account’s budget will be reported in this column. 9) Revenues/Expenses: Dollar amounts for transactions affecting revenue or expense will be reported in this column; budget entries are not shown in this column. 10) Commitment Activity: Dollar amounts for transactions affecting commitments are reported in this column. 11) Batch Ref. Date: Identifies the batch reference and the date for each transaction line.

  29. EXPLANATION OF THE AMO91 REPORT FOR A GENERAL LEDGER ACCOUNT (“0” LEDGER) 1) Account Controls: The account controls identify Assets (1xxx), Liabilities (2xxx), Fund Balance (3xxx), Fund Additions (4xxx), Fund Deductions (5xxx), and provide summaries of the Revenues/Expenses or Subsidiary Ledger Accounts (9xxx). 2) Description: Transaction description from the input document or sub-system feed. 3) Date Input: Date of transaction per input document. 4) Ref. 1: On gift transactions represents Argis (Gift) control number. 5) EC: Entry codes identify types of accounting transactions: 3 x = Cash Receipts 4 x = Cash Disbursements 6 x = Journal Entries 6) Loc Ref. 2: An additional reference, e.g. cash deposit number, etc. 7) Offset Account or Beg Balance: On total lines for account controls 1100 (cash) and 3xxx (fund balance), the fiscal year beginning balances are reported here.

  30. EXPLANATION OF THE AMO91 REPORT FOR A GENERAL LEDGER ACCOUNT (“0” LEDGER)(continued) 8) Previous Month’s Balance: This column shows the status of this General Ledger Account at the end of the previous month. 9) Current Month’s Activity: This column shows the transactions and changes which have taken place during the current month. 10) Current Balance: This column shows the status of this General Ledger Account at the end of the current month. 11) Batch Ref./Date: This identifies the Batch Reference and Date for each transaction line. 12) Fund Balance Lines: Total Fund Balance: Fund Balance before consideration of committed funds (Open Commitments). Fund Balance Less Commitments: Fund Balance less committed funds. 13) Starred Items: Represent items that are already reflected on the fund balance line.

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