PantherSoft Financials Reporting 101 Welcome everyone to Financial Reporting 101. This class is geared to those who are new to Financials, new to Reporting, or new to the University altogether and will be using the Financials part of Peoplesoft. It is for beginners to introduce them to their budget, and how to use the reports provided by nVision to inquire upon their budget, specifically the DT report. Office of the Controller

OBJECTIVES By the end of today’s class you will be able to: Review financial transactions in system and interpret related info on Detail Transaction (DT) report specifically Use and explain reporting terminology Explain expense reporting categories including the transactions that fall within Run reports and review results via Report Manager Identify the common transactions that populate the Encumbrance, Pre-Encumbrance, and Actuals part of the DT report. Use the drill-down function within nVision to review transactions. Interpret inquiry screens for budget purposes Office of the Controller

AGENDA Terminology Review Review Transaction Source Flow Types of nVision Reports The DT report – interpretation, drilling down Researching Expenses, Encumbrances, and Pre-Encumbrances Online Inquiry – Requisitions/POs/Vouchers examples Appendix Review 30-45 minutes Hands on. Office of the Controller

Overview Panthersoft applications include standard reports that can be customized and other reporting tools in which new reports can be created. There are three functionalities that specifically assist with reporting: the nVision reporting tool, the Query tool, as well as the Inquiry and View pages within the Financial Modules.

Commitment Control Terminology Actuals: transactions that have posted to the GL. Adjusted Budget: Original budget plus/minus any budget transfers. Encumbrance: amount for which there is a legal obligation to spend in the future. A Travel Authorization is a typical encumbrance transaction.  Expense: financial activity when a payment has been processed. Original Budget: budget loaded in KK as of July 1st. Pre-Encumbrance:  amount expected to spend, but for which there is no legal obligation to pay.   A requisition is typically a pre-encumbrance transaction Office of the Controller

nVison Reporting Terminology nVision Report Layout: The report layout is an Excel spreadsheet/template that doesn’t include actual Panthersoft data; it defines the structure of the report. Once a layout has been saved, you can use it repeatedly to run reports. nVision Report Request: A collection of report-specific information such as request name, report title, associated layout, scope, that can be saved and reused.  Similar to a Run- Control. nVision Variables/Syntax:  Variables are used in nVision to display information that might change from report to report and avoid hard-coding. Office of the Controller

nVison Reporting Terminology (cont.) Scope: A scope is functionality used in nVision reports to define the data to include in a report using a single report layout and report request. Trees: In Panthersoft, a tree is a graphic representation of the hierarchical relationships of data in the database. Trees provide a way to organize related data in a logical manner and give a visual summary of the tremendous amount of detailed data the system stores. Multiple trees may refer to the same data but organize it in different ways. Variance: differences between budgeted dollars and actual spend.    Office of the Controller

Revenue, Transfer, & Expense Categories These categories show up on many different reports. For those of you who may have seen a DT report you have seen these as separators already. These are our main budget/expense categories. This table shows the specific financial transactions that affect these categories. You’ll notice that the most common financial transactions usually roll up to the Other Operating Expense category. Office of the Controller

Revenue, Transfer, & Expense Categories (cont.) Office of the Controller

Transaction Flow Revenues Revenues are income to the department including departmental deposits. Student Financials Student Financials is the sub-system that captures all financial transactions on the student's account and sends those transactions to the General Ledger.  These transactions are posted in the general ledger via journals.    Smart Internal Billing Smart Internal Billing is a sub-module in which departments bill other departments for services/goods. Payments are collected within Peoplesoft. These transactions only show in your Actual for the receiver and the biller. So if a transaction is posted directly to the General Ledger where should it show up on your DT report? Encumbrances or Actuals? Office of the Controller

Transaction Flow (cont.) Revenues cont. Credit Card Terminal Payments There are merchant locations throughout the University that process credit card transactions for various purchases, i.e ticket sales. This revenue is recorded in the General Ledger for these types of transactions, also showing up in your actuals. Office of the Controller

Other Operating Expenses Travel Authorizations/Expense Reports The expense type chosen is mapped to a general ledger expense account. Once a TA is budget checked in the system an encumbrance is created for the specified activity number or project. After an ER is budget checked and linked to an approved travel authorization, payment is issued and the encumbrance is released. The payment then becomes an expense.

Other Operating Expenses Requisitions Product categories within the eProcurement module are mapped to a general ledger expense account. Once a Requisition is budget checked a pre-encumbrance is created for the activity/project.

Purchase Orders When the Purchase order is budget checked, an encumbrance is created for the activity/project ID, and the pre-encumbrance is released. Requester enters a receipt for the goods/services received. Accounts Payable processes applicable invoice which generates a voucher; the encumbrance is released and a payment expense transaction is created.

Other Operating Expenses cont. Maximo Maximo is a system that Facilities uses to track work order requests. On a monthly basis, Maximo sends the data to PantherSoft to create journal entries to charge departments for services rendered. All Maximo journal entries post to account # 761001 (Maintenance and Repairs) of an Activity or Project with a 'MAX' journal prefix.

Other Operating Expenses cont. Pinnacle The Pinnacle Billing system is used to bill FIU departments for telecommunications and other services provided by the Division of IT.  The system then generates a general ledger file that is processed each month by Panthersoft to transfer the funds automatically. 

Cash Transfers In/Out Smart Journals Smart Journal is a tool that facilitates the cash transfer process for those activities that are allowed to transfer cash. Only Expense Managers are able to create Smart Journals. Therefore, once the journal is saved and a Journal ID is created, it’s automatically approved.

nVision Tool - Reporting Before running an nVision report, users should know the Report Type, Report Request ID, Scope, and Layout. Knowing the Report Type will aid you in locating your Report Request ID Types of Reports – we will discuss soon which reports provide what information. And as far as the Report Request ID, it should be the initials of the Report you are running followed by the first 6 digits of the department number.

Which report do I run? Do I have revenues? If yes, which report shows them? Where can I find my budget across all my activity numbers? Where can I see my open encumbrances? What is the best report for E&G variance analysis? How can I see if a voucher has been paid? Which report shows if a voucher has been paid? Where can I find my available balance? What reports show my variance analysis? Who are the employees getting paid from my Activity#/Project? Yes – the XA report for variance analysis or the DT for detail per transactions The AS report using the department as the scope yields all activity numbers the DT Report, or Budget Overview drill down The best report for E&G variance is the DI Inquiry pages or the DT report The DT report DT, Budget Overview, or XA report AS for variance analysis by department, XA for revenue generating (auxiliary, A&S…), DI for E&G Payroll Detail Report

nVision Financial Report Types Variance (Budget vs. Actual) Reports Report Level Report ID Recommended scope level Description of the Report Transaction report DT Detail Transaction Reports Detail transaction data for committed (enc & pre)/ paid expenses as well as budget by Activity Nbr/ DeptID/Cost PID/ Budget Account/ Fund code and more Please note that the DT report shows the adjusted budget  

nVison Financial Report Types Variance (Budget vs. Actual) Reports Summary Reports DI Activity Nbr/ Cost PID Detail variance by account with a subtotal by account rollups ( S&B, OCO,OPS, OOE) for a single Activity Nbr Please note that the DI report shows the original budget   XA Detail Inflow (revenue, fund balance & transfers in) and Outflow (Expenses and transfers out) variance with subtotals account and account rollups Please note that the XA report shows the original budget AI Athletics Activity Nbr/ Cost PID Detail Inflow (revenue, fund balance & transfers in) and Outflow (Expenses and transfers out) variance with subtotals account and account rollups for an Athletics Activity Nbr

nVision Report Types – Budget vs Actual Executive Summary AS Business Unit/ Executive Area Actual and budget information for Salaries & Benefits for a range of Activity Nbr with a subtotal by Activity Nbr and funding source Actual and budget information for Other Capital Outlay for a range of Activity Nbr with a subtotal by Activity Nbr and funding source Actual and budget information for Other Personnel Services for a range of Activity Nbr with a subtotal by Activity Nbr and funding source Actual and budget information for Other Operating Expenses for a range of Activity Nbr with a subtotal by Activity Nbr and funding source Actual and budget information for all expenses for a range of Activity Nbr with a subtotal by Activity Nbr and funding source Actual and budget information for revenues for a range of Activity Nbr with a subtotal by Activity Nbr and funding source

Budget Reports Budget Reports Executive Summary EC Business Unit/ Executive Area Available budget information for Other Capital Outlay for a range of Activity Nbr with a subtotal by Activity Nbr and funding source   ES Available budget information for Salaries & Benefits for a range of Activity Nbr with a subtotal by Activity Nbr and funding source EO Available budget information for Other Personnel Services for a range of Activity Nbr with a subtotal by Activity Nbr and funding source

Budget Reports Budget Reports Executive Summary EE Business Unit/ Executive Area Available budget information for Other Operating Expenses for a range of Activity Nbr with a subtotal by Activity Nbr and funding source   DS Available budget information for total expenses for a range of Activity Nbr with a subtotal by Activity Nbr and funding source

Budget Reports Budget Reports Transaction report DT Detail Transaction Reports Detail transaction data for committed (enc & pre)/ paid expenses as well as budget by Activity Nbr/ DeptID/Cost PID/ Budget Account/ Fund code and more

Scope, Layout, As of Date   A scope defines data the report will contain usually specific to a value such as a department or activity number.  The layout determines what fields and rows show up on the eventual excel spreadsheet results. The as of date refers to the time period.

Hands On Department number.#110401000 Activity number. #1104120004

Office of the Controller Website & Links Office of the Controller

Class Survey Go.fiu.edu/oocsurvey

Office of the Controller Questions? Office of the Controller