Lunch & Learn

1. Lunch & Learn From Financial Accounting and Reporting

2. Topic: Journal Entries • Why are we having this session • Most common questions we review: • What kinds of Journals do we have. • How are they processed • General Journal Entries

3. Journal Entries (Cont’) • General Journals Types • Common Mistakes • Were do I go for help

4. Chartfields and Trees • T code • Accounts (Use CC_ACCOUNTS Tree) • ProgFin (for Assets, Liabilities and Revenue is always 000) • Project Chartfields

5. Chartfields and Trees Cont. • Project Chartfields • Project CF is a GL Chartfield • PC Business Unit • Activity (Project specific) • Source (Resource Type) • Category and Sub Category • Analysis Type. (GLE, GLR, CGE, CGR)

6. Basic Accounting Terms • Asset • Liability • Net Asset • Revenue • Expense • Commitment Control • General Ledger

7. Kinds of Journals • From Sub Systems; • AR/BI Account Receivable and Billing • Billing • Payments • Misc Payment ARDJ • AM • Inventory Capital • Depreciation • Contracts Management • CM Un billed and Deferred Revenue • CMGM F&A for Grants

8. Kinds of Journals Cont’ • AP Accounts Payable • Voucher Accrual • Voucher Payment • PCARD Accrual • PCARD Payments • Commitment Accounting CA • Payroll PAY (AKA:PR)

9. Manual Journal Entries

10. Descriptions • Because they said so! • Bob said to do it! • I always did it this way! • Orig kept in my dept. • Dog ate it! OR Say what and why you are doing the JE

11. Manual Journal Entries

12. Helpful Hints • If an Account number begins with a 1, 2, or 3 (a balance sheet account) the Tcode is either B410 (for a credit “-“) or B411 (for a debit “+”). • If an Account number begins with a 4 or 5 (a revenue account) the Tcode is either 410 (for a credit “-“) or 411 (for a debit “+”). Also, revenue accounts MUST have a Prog FIN of “000.” • If an Account number begins with a 6, 7, or 8 (an expense account) the Tcode is either 412 (for a credit “-“) or 413 (for a debit “+”) Also, expense accounts CANNOT have a Prog FIN of “000.” • While any fund can have a project, if the fund is either 1113 or 1253, then there MUST be Project information included (Proj Business Unit, Project, Activity ID, Resource Type, and Analysis Type). For General Ledger accounts, Analysis Types are “GLE” for EXPENSE accounts and “GLR” for REVENUE and BALANCE SHEET accounts. Cost share accounts will use CGE or CGR as directed by Grant Accounting. • If the fund on an EXPENSE account is 1112 the Prog FIN MUST be “081”. NOTE: for a REVENUE account, refer to second point above.

13. Common Mistakes • Missing information • Missing original signatures • Incorrect information • Mismatched Tcode and sign • Wrong Prog Fin • Wrong Fund • Wrong Project Chartstring • Debits and Credits not equal

14. Corrections, Allocations & Transfers • Allocations are only done on actual expenses when PO system will not allow you to because of Security. (Reference Voucher and JE) • Correction are done on actual expenses. Reference JE’s

15. Corrections, Allocations & Transfers cont’ • Transfers- • To move revenue to and from a Dept and a Project outside the Budget and Sponsored funds. • State Supported Funds are done by Budget Amendment. • Transfers can not be made in or out of Grants or Contracts.

16. Money Received for Expenses • If the funds are for overpayments from the vendor. = Recovery • Funds from a source other than the Vendor = revenue/transfer

17. I can’t remember how! • Low volume users. (Share) • Retraining!!!!!! Go again and again. (Tell yourself the course is better now.) • I have done it so many times, I could teach it! (ok please do) • HTTP:\\umbc.edu\peoplesoft

18. Help Resources • PeopleSoft UMBC Website • Peer Mentors • Divisional Coordinators • Financial Services • PS-Support • Chartfield support see CC_Trees • Knowledgebase

19. PeopleSoft End-Users Manual(KnowledgeBase)

20. PeopleSoft Training Plan(KnowledgeBase)

21. Questions!From you and for you!