1. Cost Center Reconciliation - Workshop

2. Prerequisites  Introduction to SAP training workshop  Requisitioning – Part I and Part II  Budget Transfers / Check Requests  Balance Reports  Business Warehouse Reporting

3. Objectives  Understand University financial policies and procedures  Understand the types of documents to reconcile monthly and organization of receipts  Understand financial workflow processes  Learn how to reconcile commitments / actuals  Approximate workshop time: 2 hours

4. University Policies and Procedures  Procurement Services  Meals (Off Campus)  Meals (On Campus)  Travel  Budget Transfers/IBs/Recodes  Budget Availability

5. Why Reconcile?  SAP is the University’s system of record  Data accuracy

6. Commitments  Encumbrance of funds available  Funds have not been paid yet  SAP / R3 reports  ZFD1  ZFBC  Business Warehouse reports  Budget Management  PBC Payments  Travel Management Report

7. Commitments  Commitments  Salary Encumbrances  Purchase Requisition  Purchase Order  Personal Services contract (P0 begins w/47)  Goods Receipt not required (P0 begins w/46)  Goods Receipt required (P0 begins w/45)  Travel Requests

8. Workflow  Once a requisition has been saved (and is not under the "Held" status), funds will be encumbered within the cost center.  Procurement Services will create a purchase order liquidating the requisition, and encumbering the PO.  Vendor payments are blocked until both the goods receipt and invoice receipt have been complete.  Any original invoices received by your department should be forwarded to Accounts Payable for invoice receipt processing.  Travel requests remain encumbered until a travel expense report is submitted, or the request is deleted.

9. Actuals  Include costs of expenditures that have cleared accounts payable  SAP/R3 reports  ZFD1  ZFBC  Business Warehouse reports  Budget Management  Labor Distribution/ FI Transaction List by Month – Manual Payroll Entries  FI Transactions by Line Item  Travel Reimbursements  Recipients of Financial Aid

10. Actuals  Actuals  Journal Entries  Payroll Accruals  Parked Vendor Invoices  Travel  Payroll Entries  Procurement Card Charges  Goods Receipt  Invoice Receipt  Bursar Feed

11. Budget  Original Budget – Uploaded at the beginning of the fiscal year, as approved during the BIIP process  Revised Budget – Is equal to the Original Budget +/- any budget transfers  Available Budget – Is equal to the Revised Budget +/- any Actuals, Commitments, Parked Actuals  SAP/R3 Reports  ZFB1  Business Warehouse Reports  Budget Management Report  University Credit Balance Report

12. Budget  Budget Documents  Transfer  Supplement  Carry Forward

13. Budget  Supplements  Supplements are transfers processed by central offices  Includes movement of available revenues to expenditures  Appear under Supplements column on ZFB1  Transfers  Processed by departments  Move expenditure to expenditure  Carry Forward

14. University Credit Balance Report  Run to view the most up to date credit balances in your cost centers  Found under FI Departmental Reports Folder in BW  Should be run monthly as part of your monthly reconciliation, but may need to be run more often around closing (June-July), to ensure no credit balances are carried into the new year

15. Budget Transfer Workflow  The funds from a budget transfer will appear as available as soon as the document is "preposted".  Funds are not actually available until the transfer has gone through the entire workflow process.  Workflow will send the transfer for approval to the responsible person on the cost center, up through the Vice President/Vice Provost level. After being approved at that level, the transfer will be approved by the Office of the Comptroller, and possibly the Budget Office.

16. Fixed Assets  Included as part of the operating pool  G/L account should be coded  Single item that $500 or more but less than $5,000, use G/L range 551005 – 551065  Single moveable item that is $5,000 or more, use G/L range 570105 – 570165  Single fixed item that is $5,000 or more, use 570005 - 570070  Any single item $500 and over must be tagged  Inventory verifications are due mid-April

17. Monthly Reconciliation  Create a binder for each cost center in your department. Each g/l should have its own tab within the binder. Include a folder for “Pending” items.  Run the FI by Transaction List for the month and export to Excel.

18. Thank you!  We sincerely thank you for investing your time with us. Questions?