TARLETON STATE UNIVERSITY Office of Business Services Canopy Training March 25, 2015

Just a little accounting humor…

What’s new at the tsu campus In Progress Changes Future Changes University Services Fee Collapse. 17 Revenue fees collapsed into 1 fee. Changed about 100 accounts campus wide. Electronic Payroll Action (EPA). Academic Affairs implemented. Other areas are coming soon. Replaces PBAs, PAFs. Buy A&M – Purchasing Documents Electronically. Campus Fully implemented. Replaces RTPs. USF Account structure changes. All USF accounts will only have SL, and will all accounts will start with 201XXX. Different Construction Projects around campus – Admin building included. Area should be ready for the fall semester. Wellness Initiatives, and Fitbits! Designated Tuition Fee Account structure change. Implemented for FY16. Chart of Accounts structure change. Departmental Budget Transfers (DBR) implementation. Automates the process of fund changes. Automation of deposits with cashiers office. More construction projects across campus. New Human Resource Management software. Selected from Texas A&M University System.

The TSU Accounting Language Key Words: (See Handout) Account numbers Sub codes Sub Accounts |Support Accounts Fund Balance Budgets Budget Pools Salary pool Wage pool Benefit pool Operations & Maintenance pool Actuals Expenses Pin Numbers Annual Salary Encumbrances (open Commitments) Fiscal Year GL Account Summary SL Account Summary

Funds, Budgets, Encumbrances, Actuals What are the differences between these categories?

Funds, Budgets, Encumbrances, & Actuals Think of it as four distinct separate categories. Budget is how much to spend on each type of goods/services for the year. Actuals is what has paid up to the current point in time. Encumbrances is a known expense that will pay in the future. Funds is “money in the bank”

Budgets, Actuals, Encumbrances

Funds

Explanation of budgets Budgets is an estimation of revenue and/or expense over a specified period of time. Budgets are usually compiled and re-evaluated on a periodic basis. Adjustments are made to budgets based on the goals of a department, college, division, and/or the organization. Adjustments can be seen as “Budget Revisions” or “Budget Transfers” Budget can be located in the 1100, 1700, 1900, 3000, and 8000 budget pools/subcodes only in Canopy.

The Different Budget Pools 1100 is Salaries. 1700 is Wages 1900 is Benefits 3000 is Operations & Maintenance 8000 is Capital

Explanation of encumbrances Encumbrance is an estimation of an expense over a specified period of time. Adjustments are made throughout the fiscal year. Encumbrances are primarily in the 1105, 1605, 1906 subcodes. 1105 is salary encumbrance 1605 is longevity encumbrance 1906 is benefit encumbrance Encumbrances can also be placed in the operation maintenances subcodes and capital subcodes. Ex: Copier Expense The range of subcodes is 3010-6935 for Operations & Maintenance. The range of subcodes is 8010-8817 for capital.

Link it all together The department of Business Services has a pin number T02515. The pin number has an annual salary of $50,000, for a 12 month term. There are 7 months left in the fiscal year. What are the actuals? What are the encumbrances? What is the annual budget?   Pin Number Budget Actuals Encumbrances Available 1-Sep T02515 50,000.00 - 1-Feb $ 20,833.33 $ 29,166.67 = (50,000/12)* 5 = (50,000/12)* 7 31-Aug

How to find your budget/Funds in canopy A.) September 1 of the new fiscal year: there will be a Ref2 journal entry postings, BUDXXXX. Ex: Bud1415 Ex: On Page 8 B.) September 1 of the new fiscal year: There will be a Ref2 journal entry posting: TXRXXXX. Ex: TXR1415. Both the funding and Budgets should reconcile. (Both totals should be the same.) (For teaching purposes, the example given does not match. A budget revision (non cash transaction) of $54,635 would be needed.) *Note: With the USF account structure, only step A is necessary. As mentioned, the chart of accounts changes will also have the same setup as the USF structure.

GL Funding code details “Transfers In” Subcodes “Transfers Out” Subcodes 4910 – State 4920 – Designated 4930 – Auxiliary 4940 – Restricted 4950 – Restricted 4960 – Restricted 4970 - Loans 4980 – Construction 5910 - State 5920 - Designated 5930 – Auxiliary 5940 - Restricted 5950 – Restricted 5960 – Restricted 5970 – Loans 5980 – Construction

Sl budget for account

Gl Funding for account

Take Break (IF NEEDED) Answer any questions Next Topic: How to utilize Canopy Effectively

How to utilize CANOPY effectively CANOPY.TAMUS.EDU

Canopy Passwords Must Begin with a Letter Must have 8 characters exactly. Must have at least 1 number Cannot be a prior password

Canopy User Friendly Point & Click Cannot be altered Back button function Easy to sign in

Quick canopy tips Change Fiscal Years Turn paging on/off Set themes (customization) User Profiles (System Tab) Account Attributes Tables Menu FRS > Tables GL and SL Codes Department Table

Canopy Modules Financial Records Systems (FRS) Fixed Assets (FFX) Personal Action Module (EPA) Document Routing (Routing) System setting and general information (System)

FRS MODULE: PRIMARY FOR USERS Functions in FRS Tab Financial Accounting - transactions relating to financial operations such as budgets, revenues, expenses, and journal entries Accounts Payable - transactions relating to vendor payment including preparation of checks and files for State of Texas warrants Accounts Receivable - transactions relating to billing and payment receipt for goods or services rendered Purchasing - transactions relating to ordering, receipt and initiation of payment of goods and services Payroll Distribution - processes relating to the distribution of payroll expenses for research projects Budget Preparation - processes relating to the preparation of the annual budget to be presented to the TAMUS Board of Regents

Information needed to search Account Numbers Department Codes Responsible Person Title of Account Ex: USF

10 total Account detail tabs

MY Accounts Tab Account Search Tab Type in Account Ex 231250 (include Support Accounts if needed) Check the Add Check box, on right side of screen. Click the Add Button

Open commitments tab Open Commitments are the encumbrances placed in the account. Salary, Benefits, Longevity, and Operations & Maintenance. Original – Beginning Encumbrance Adjusted – Amounts that have been added/Removed. Liquidated – Amounts that have been paid. Current – Future amounts to pay

Reports tab In the search results box, and the active accounts box, you will see a green excel icon and an Adobe PDF icon for each account. Select single or multiple accounts at a time to view reports. Place a check mark in the box to the right of the icons. To download, click on the icon of preference.

Reports tab Report Will Include: Revenue Activity (if applicable) Expense Activity Encumbrance Activity

Account Details Reconcile Fund Balance of an account Reconcile Beginning Balance of an account Reconcile specific transactions by object code(Subcode). Reconcile specific payroll items

Fund Balance Fund Balance are on the GL Account. (the zero gets move to the beginning of the account, from the end. Ex: SL 231250, GL 023125 Information is found on the GL Account Summary. Formula: “Fund Balance” – “Encumbrances” Fund Balances are line 3200 on GL Encumbrances are line 9620 on GL

Beginning balance Steps: Formula: GL Account Begin Balance Column As of September 1 of new fiscal year. Formula: Fund Balance – Encumbrances If you want Begin Balance during the fiscal year: Ex: Balance as of February 1. Then take Prior months Ending Totals.

Account Activity by Object Code You will see the Object Code on the left with a description You can click on the arrow on the far left of the object code to see each transaction posted to that individual code The account is divided into Budget Pools–Revenue-0001, Salaries-1100, Wages-1700, Benefits-1900, and Other Expenses-3000 You can see your beginning budget figure by viewing the budget column for the ****Total XXX Pool line.

Answer Any questions?

Feel free to call Business services with any questions Budgets office Karen Fincher @ Ext 9109 Susan Gordon @ Ext 9433 Lindsey Davis @ Ext 9379 Accounting Office JoAnna Ince @ Ext 9615 Courtni Howell @ Ext 9431 Kirsten Dollarhide @ Ext 9430 Charlotte Smith @ Ext 9382 Becky Wood @ Ext 1927 Accounts Payable Office Christy Pfau @ Ext 9106 Ashley Starnes @ Ext 9434