RTF/ Web Rpt: FinOps SP University of Michigan Administrative Information Services e Reconciliation Project update March 19, 2008

2 Topics Real Time Financials (RTF) Project Vision & Update eReconciliation Walk-through Security / Access Approach Q&A

3 Real Time Financials (RTF) Project Vision & Update

4 RTF: Ultimate Vision Make meaningful, easily accessible financial information available to Principal Investigators and Departmental and Project managers and administrators Real-time project balances Richer transaction annotations Reconciliation flags Provide an end-to-end reconciliation tool utilizing central system Reduce the need for costly and time-consuming supplemental systems Eliminate duplicate entry of data Streamline the reconciliation process Provide for an All Funds solution

5 Phase 2: Underway Include BRD and IDC Estimate calculations in the Data Warehouse (complete) Implement Journal Entry (JE) workflow functionality to allow streamlined routing of JEs for approval (complete) Increase the posting frequency of AP vouchers to the General Ledger (complete) Enhance Unit Defined Commitment (UDC) functionality to include the ability to use ShortCodes to post UDC information (complete) Access to reporting ledger functionality to support All Funds Budget Variance reporting (complete) Provide for annotations to expenses that are already in the system (spring ‘08) Ability to flag financial transactions as reconciled (spring ‘08)

6 eReconciliation – Walk-through

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15 Security / Access Approach

16 New Role (FN Reconciliation) - Department Managers & SAPOCs - List to be distributed to add/remove users

17 Q&A Questions / Comments Holly Chris Thank You!