1 / 15

Journal Entry Project Update

Journal Entry Project Update. October 14, 2008 – BAG October 15, 2008 – Financial UL. Project Goals. Journal Reduction Eliminate unnecessary journal activity by: Reviewing and changing business processes Amending policies Providing comprehensive training Journal Optimization

nirav
Download Presentation

Journal Entry Project Update

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Journal Entry Project Update October 14, 2008 – BAG October 15, 2008 – Financial UL

  2. Project Goals • Journal Reduction • Eliminate unnecessary journal activity by: • Reviewing and changing business processes • Amending policies • Providing comprehensive training • Journal Optimization • Identify the most effective processing methods for journal activity by: • Reviewing business processes • Technology improvements • Investing in functionality • Identifying customer needs

  3. Project Initiatives • Transition journal processing from paper to an electronic online process • Improved timeliness and accuracy • Provides control over the journal process to users • Captures a better audit trail by electronically identifying operators & authorizers • Provide a Comprehensive Training Program • Enhance Departmental Internal Controls

  4. Transition from Paper to Electronic Paper Journal Entry Trend

  5. Transition from Paper to Electronic History of Process Improvements • Added journal comment field for Sponsored Programs routing (July 2008) • Developed a MAC compatible template (February 2008) • Implemented system based work flow for Sponsored Programs journals (November 2007) • Enabled cross-department activity for online journals (September 2007) • Added new field "Journal Authorizer" (September 2007) • Datawarehouse now holds the JE authorizer's emplid, name and phone number as well as the uniqname of the person who entered the JE into M-Pathways • Implemented upload journal improvements (September 2007) • Longer JE Header description for uploads (from 30 to 254 characters) • Added printable view into Excel template • Improved descriptions for journal processing reports • Added additional combo-edit rules (May 2007) • Fund-Account combination focus

  6. Comprehensive Training Program Overview • Provide individual school/unit training for JE authorizers • Instructor led training continues on an as need basis • Provide training to journal operators so that they may process online electronic JEs • Training will be required for all JE users • Instructor led training is currently provided • MyLINC training is being introduced • Includes Internal Controls • Bundled with operator and authorizer training programs

  7. Comprehensive Training Program Formalized the Authorizer Role • Identifies the person responsible for approving a journal transaction in MPathways • Applies to all JE transactions • Ensures that transactions are recorded in accordance with appropriate guidelines (Federal, State, donor, University) • Training highlights key internal control points and proper use of chartfields

  8. Comprehensive Training Program Operator Training – Phase I • Currently there are almost 700 trained journal operators covering 35 schools & units • Customer feedback has been very positive regarding the training program • 80% of participants have indicated that the training “Greatly” meet their expectations; 0% have indicated “Not at all” • On a 5 point scale; 92% of participants have rated the training sessions a 4 (40%) or 5 (52%) • Comments frequently praise the completeness and organization of the training materials and acknowledge the clearness/conciseness of the presenters and their knowledge of the audiences business • Participants have often commented that a hands-on course would have enhanced the training process

  9. Comprehensive Training Program Currently Trained Users • School of Natural Resources & Envir. (7) • Student Residences (3) • University Unions (3) • VP for Student Affairs (4) • Health Service (2) • College of Engineering (101) • Investment Office (2) • MAIS (6) • University Human Resources (2) • Michigan Health Corporation (1) • Alumni Association (1) • Division of Kinesiology (5) • Ford School of Public Policy (3) • ICLE (3) • School of Music (2) • VP for Communications (1) • School of Nursing (2) • School of Dentistry (15) • AEC Department (3) • Flint Campus Finance (4) • Dearborn Campus Finance (3) • College of LSA (133) • Medical School (222) • University Hospitals (136) • Office of Student Publications (1) • Executive VP for Medical Affairs (2) • University Musical Society (2) • Office of Budget & Planning (2) • Office of Educational Affairs (4) • Office of Institutional Tech Affairs (3) • School of Public Health (1) • University Library (1) • Office of the General Counsel (1)

  10. Comprehensive Training Program Operator Training – Phase II • MAIS has created a MyLINC e-learning course based on the Financial Operations training materials • Access for electronic journal processing will be made through the OARS process • Prerequisites for the “GL ONLINE ENTRY USER” role are: • MPO101 – Introduction to M-Pathways • CFE101 – Introduction to Chartfields • GLE102 – Working with Journal Entries • GLE102 will supplement instructor led training • In person training sessions are available in Suite 18 of the Wolverine Tower on November 19 & December 17 • MyLINC training will be available beginning October 15

  11. Departmental Internal Controls • Created an internal controls matrix for JEs • Identifies key risks and control points at the departmental level regardless of method of processing • Key internal controls are emphasized during JE training • Plan to include JE controls for FY2009 unit certification process • Developing written procedure templates for unit use to document local procedures

  12. Internal Controls Model Oversight and monitoring reports • Developed several draft BusinessObjects reports to focus on key areas for department administrators and authorizers • Journal Count by Authorizer • Journal Count by Source • Journal Count by DeptID (range) • Assessing managerial reporting needs to assist units in reviewing their JE activity

  13. Journal Entry Project Update Related Initiatives • Service Unit Billing Improvements (SUB) • Partnered with MAIS & Financial Analysis • Identified and trained over 195 users from 95 different departments to use the SUB process for recharges & rebills • Simplified the SUB loading process • Developed a MAC compatible template (December 2007)

  14. Journal Entry Project Update Summary • Incorporate departmental internal controls into business processes • On target for transitioning the majority of users to electronic journal processing from paper by December 2008 • Open Items • Converting units using supplemental systems to the appropriate process (JE or SUB) • Explore options for line-level workflow for JEs

  15. Questions Brent Haase 3-0260 haasebr@umich.edu Bryan Van Sickle 7-1946bvsickle@umich.edu Dan Mesquiti 3-2393djmesq@umich.edu Deb Lindsley 4-9281 lindsley@umich.edu Deb Talley 7-5564 dtalley@umich.edu Jarrod Van Kirk 7-3773 jvankirk@umich.edu

More Related