Reconciling in InfoPorte Nicole Šebik Change Management & Training Development

2 1.Highlight a few key points about InfoPorte 2.Expense & Revenue Reconciling…What? Where? When? How? 4.Q&A Agenda

3 Navigation You can access InfoPorte in two ways: 1.Go directly to InfoPorte, infoporte.unc.edu infoporte.unc.edu 2.From ConnectCarolina, click General Links on the left How do I get to InfoPorte?

4 Data Feed InfoPorte is updated early each morning with the previous day’s business. Data Feed

5 Navigation At the top of every page in InfoPorte Navigation bar

6 Finance When you click Finance, the landing page is Dept Accounting > Ledger Rollup You’ll accomplish most of your day-to-day accounting work – including reconciliation – in this area. Dept Accounting

7 Exporting Data The icons are on the right, top side of the page The SAS VA reports on the Financial Reporting tab can only be exported to Excel. —Right click on the row and select Export List Table. Data may be exported to Excel or PDF Tip! Excel downloads sometimes don’t work well in Internet Explorer. If you have problems, save the file before you open it.

8 Expense & Revenue 101

9 The new look of finance transactions

10 Expense & Revenue 101 Ledgers are similar to the old Transaction Codes *The Collected ledger applies only to units using AR/Billing module, and is not included on the Ledger Rollup. EXPENSE (5xxxxx) Budget Pre-encumbrance Encumbrance Expense REVENUE (4xxxxx) Budget Recognized Collected*

11 Expense & Revenue 101 Ledgers are listed on the Transactions tab F&A Expense ledgers OSR Expense ledgers State Expense ledgers State Revenue ledgers Trust Expense ledgers Trust Revenue ledgers

12 Expense & Revenue 101 What’s in the different ledgers? Budget —Budget Journals, Budget Transfers Pre-encumbrances —ePro orders, Purchase Requisitions Encumbrances —Purchase Orders, Personnel Expenses —Vouchers that have passed budget checking —Transactions in Accounts Payable —Paid transactions Budget —Budget Journals, Budget Transfers Recognized —Deposits, Revenue from batch feeds (InfoPorte Cores, for ex.), etc. EXPENSE LEDGERSREVENUE LEDGERS * Personnel encumbrances are posted for the period November 1, 2014 to June 30, 2015.

13 Expense & Revenue 101 In ConnectCarolina, you do not budget F&A on the account level, which is why the Budget Amt is F&A Budget

14 Reconciling

15 The Questions The process of ensuring a balance is correct. What is reconciling? InfoPorte Where do I reconcile? After the month is officially closed. When do I reconcile?

16 What do I reconcile? Reconcile these ledgers: *The Collected ledger applies only to units using AR/Billing module, and is not included on the Ledger Rollup. EXPENSE (5xxxxx) Budget Pre-encumbrance Encumbrance Expense REVENUE (4xxxxx) Budget Recognized Collected*

17 ?

18 What do I reconcile? STATE: Fund – Source – Dept ID F&A: Source – Dept ID —Use source when reconciling Trust: Source —Two exceptions: o Endowments – Filter by Fund – Source to see Principal and Income o For Trusts allocated across multiple departments, use Source – Department OSR: Source – Project ID to exclude cost share —Project ID only to include cost share Use the following combination of chartfields: If you budget by Program, include Program when you reconcile.

19 How do I reconcile? Ledger Rollup OSR Ledger Rollup – for contracts and grants Transactions To reconcile you’ll need access to:

20 Questions?

21 For More Information