ctcLink Update and Presentations BAR January 29, :00am to noon

Introductions & Agenda Who are we? Emmett Folk – Finance Functional Team Lead Shon Dicks-Schlesinger – Finance Functional Analyst Christyanna Dawson – Finance Functional Analyst What are we doing here?  Quick ctcLink Update  Overview of PeopleSoft General Ledger  Overview of PeopleSoft Commitment Control

ctcLink Update There will be a new FirstLink go-live date:  A new date for FirstLink colleges is expected to be announced mid-February  Project leadership is also assessing the implementation date for the Wave 1 colleges  Still expect to work within the schedule of completing the project by the end of 2017 It’s not too early to be involved! Join our Listserv! Look for ctclinksme_fin on the Mailing List page:

PeopleSoft Financials Overview General Ledger (GL)

Agenda List of Possible Topics:Short Description:Presenter Thursday, January 29th Oracle & GL Overview Review the following GL Setup Components: ERP Review, Business Units, Ledgers, and Chartfields. 10:10am - 10:25amShon Dicks-Schlesinger Journals A grouping of transactions by date, module, or chartfield. Review the following Journal Components: Accounting Entry Definitions, Journal Generator Template and Standard Journals. 10:25am – 10:40amShon Dicks-Schlesinger Spreadsheet Upload Upload external document to populate PeopleSoft fields to avoid manual entry. 10:40am – 10:50amShon Dicks-Schlesinger Month End ClosingReview Open Period Update to close each period.10:40am – 10:50amShon Dicks-Schlesinger ReportingHow to run delivered online reports?10:50am – 10:55amShon Dicks-Schlesinger Trees A grouping of chartfields and their attributes for various reporting purposes. 10:55am - 11:05amShon Dicks-Schlesinger

PeopleSoft ERP Application PeopleSoft Financials PSFIN PeopleSoft Human Capital Management PSHCM PeopleSoft Campus Solutions PSCS Hyperion

PeopleSoft Financials General Ledger Process Flow

General Ledger Business Units A General Ledger Business Unit is typically a subset of the organization that maintains its own set of books or ledger. Each General Ledger Business Unit –maintains its own financial transactions –may have one or more set of books or ledgers containing any type of data such as actual, budget or forecast information.

Ledgers A ledger consists of posted balances that represents a set of books for a business unit. –Ledgers store the posted net activity for a set of ChartField values by accounting period and by fiscal year. –Ledgers are maintained primarily through journal entries, and can store actual, budget, forecast, statistical, or other types of data at many levels. A detail ledger is used to store a journal's accounting transaction details. –After setting up ledger templates, define detail ledgers and associate them with a ledger group. –They are termed detail ledgers to distinguish them from summary ledgers, which are used to record summarized activity.

Physical Ledgers

Ledgers For A Unit Identifies the detail ledgers, ledger groups, and calendars used by this business unit and identifies specific characteristics for each ledger.

Ledgers For A Unit

Ledger Sample – Ledger Table

Chartfield Definitions Chart of Accounts (COA) - The foundation of the PeopleSoft accounting system. The Chart of Accounts provides each business unit, fund, department, project, grant, and account with a unique identification number and a common language for identifying financial transactions. ChartField - The individual components or fields, when combined make up the Chartstring, which defines the accounting structure. Chartstring - A set of ChartFields "strung" together to represent the proper categorization of a financial transaction. Account - Classifies the nature of a financial transaction. This is a required field represents assets, liabilities, and fund equity, as well as revenue and expense codes.

Chartfield (Chart of Accounts)

Chartfields

Journals General Ledger Journal entries for actual transactions are made in a double entry system, in accordance with Generally Accepted Accounting Principles (GAAP), where debits equal credits. Journal A batch of accounting entries entered online or input from a feeders system (payables, receivables, asset management, grants, expenses, etc. to the General Ledger). Journals consists of multiple journal lines and one journal header, identified by the journal ID. Information about the journal as a whole is stored in the Journal Header table. Posting The process by which accounting entries are created or updated. The entry does not become "official" until it is posted. Vouchers and journal entries are examples of items that are posted.

Create/Update Journal Entries

Create/Update Journal Entries: Header

Create/Update Journal Entries: Lines

Create/Update Journal Entries: Errors

Create/Update Journal Entries: Approval

Journal Process Workflow

Standard Journal Entries With SJEs, you can automate the entry of similar or identical journals. You can define three types of standard journal entries: Recurring: Use Recurring journal entries for repetitive transactions that use the same accounting information and amounts. Monthly rent, automobile lease payments, and amortization expenses are examples of recurring items for which you might charge constant amounts to the same ChartField combinations each period. Template: Use Template journal entries for regular, periodic transactions that you charge to the same ChartField combinations using varying amounts. Examples include monthly payroll, utility, and telephone expenses. You can schedule regular, recurring postings for standard journals, such as weekly postings, or schedule postings for selected dates. Spread: Use Spread journal entries for transactions for which the entire cost is spread proportionately throughout the year.

Defining Standard Journal Entries (SJE’s)

Define a Standard Journal

Create a Standard Journal

Accounting Entry Definition Identifies the system source that distributes data to your general ledger and identifies the record and field names for the Accounting Entry table.

Accounting Entry Definition

Journal Generator Template The Journal Generator process creates general ledger journals for any application. The Journal Generator process uses the record and field names from the accounting entry definition to extract data from the Accounting Entry table and create journals.

Journal Generator Template

Generate Journals (Accounts Payable)

Generate Journals (Student Financials)

General Ledger Spreadsheet Import The Spreadsheet Journal workbook enables you to enter journals offline using Microsoft Excel and then import the journals into the PeopleSoft General Ledger module. The Spreadsheet Journal Import supports regular journals and standard budget journals. Spreadsheet Journal Import does not allow the use of Control accounts. By definition, Control accounts originate in the PeopleSoft subsystem modules (example: PS Accounts Receivable, PeopleSoft Accounts Payable, etc.). Spreadsheet Journal Import rejects Control accounts during the import process.

General Ledger Spreadsheet Import

Month End Closing Update Open Periods

Month End Closing Open Period Update

GL Reporting Journal Entry Detail Report Displays all journal entries that were entered in the system for a business unit and ledger within the date range specified. Prints the journal entries in ascending ID order within the ledger and shows the journal date, the source, whether a reversal entry was created, journal status, posted date (if any), and a description. For each line that is included in the journal entry, lists the line number of the entry, the account number, a description, the department, product, and project ChartField values, and debit and credit detail. Also prints statistical information where included in a journal entry. (SQR) GL Activity Ledger Report Activity report lists the beginning and ending ledger balances by ChartField combination and account. Activity report lists the detailed journal line activity that is posted against the ledger for the accounting periods that are specified. (SQR)

Journal Entry Detail Report

GL Ledger Activity Report

Trees Trees play a major role throughout PeopleSoft applications. Some of the many different uses of PeopleSoft Trees are: –Organizing data within a field logically or hierarchically. –Development of efficient report structure used by such tools as PS/nVision reporting (criteria and scopes) as well as query criteria. –Chartfield maintenance. –Year End closing definitions.

Trees

Sample Tree

Questions

PeopleSoft Financials Overview Commitment Control (KK)

What is Commitment Control? Commitment Control (KK) is a tool provided in PeopleSoft to Assist with the management and monitoring of budgets. Commitment Control enables users to control expenses actively against predefined, authorized budgets.

Create and maintain budgets that can be controlled or tracked. Check actual transactions (such as actual expenses and revenues) against fiscal year budgets. Check imminent future financial obligations (pre- encumbrances and encumbrances) against budgets. Check recognized revenue against revenue estimate budgets.

Expense Levels Pre-encumbrance: Amount expected to spend, but for which there is no legal obligation to spend. A requisition is a typical pre-encumbrance transaction. Encumbrance: Expenditure Amount for which there is a legal obligation to spend in the future. A purchase order is a typical encumbrance transaction. Expenditure: Amount for which there has been an expenditure of funds. An expenditure is recorded in Commitment Control for both vouchers and journal entries.

How is Commitment Control Used? There are 3 levels when KK is turned on: 1.Control 2.Tracking with Budget 3.Tracking without Budget

CONTROL Requires a budget value Will stop a transaction once it exceeds the budget. This will require an action (budget revision or find a different funding source).

Tracking with Budget Requires a budget value Will notify Budget Manager if a transaction exceeds the budget, but will not stop the transaction.

Tracking without Budget Does not require a budget value Will track expenses only

KK Decisions Globally: KK has been turned on Locally: Set KK Levels Business units Fund Class Department Project Activity

Parent Child Budgets In Commitment Control, there is a hierarchy between budget definitions such that a parent budget has one or more child budgets. The budget amounts for each child budget together represent the amount in the parent budget's bucket, but divided into smaller buckets, or budgets, for each of the child budgets.

Budget Overview

Houston we have a problem! Type of Budget Issue No Budget Line Exists Exceeds Budget LineOut of Date RangeBudget is ClosedBudget is on Hold Ability to Override NOYES Control Options Control Error Error (Warning Payroll only ) Error Track with Budget ErrorWarningError Track without Budget No Warning/No ErrorWarningError No Error

Adding a Budget Budgets will be added through a journal adjustment in Hyperion After the budget has been approved, Hyperion will then publish it back into PeopleSoft Will track expenses only

Adding a Project Budget Any Project budget increases or decreases will be added in the Project module These will require a contract amendment, in the contract module

Thank you for your time! Please let us know if you have any questions or feedback! Finance SME Listserv: OR Any of the ctcLink Finance Team: Emmett Folk – LeadChristyanna DawsonSherry Stroud AP, Purchasing, Asset ManagementGrants, Contracts, BudgetingStudent Financials Shon Dicks-SchlesingerElena Horton Cash Management, General LedgerAR, Billing, Expenses