1 state of connecticut core-ct project financials user group meeting ar/glpost fye ‘04 august 2004

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STATE OF CONNECTICUTCore-CT Project

Financials User Group MeetingFinancials User Group MeetingAR/GLAR/GL POST FYE ‘04POST FYE ‘04

August 2004August 2004

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General Ledger* Update - Post FYE 04* Associated Revenue for FY2004* End of Year Reports * New CFSR Format

Accounts Receivable* Update - Post FYE 04* GIRO Payment Cancellations* User-Created Offsets vs. System-Created Offsets* Set up External Customers for Billing* Training Needs

AgendaAgenda

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General LedgerGeneral Ledger

•Update - Post FYE 04•Associated Revenue for FY2004•End of Year Reports •New CFSR Format

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Post FYE 04 UpdatesPost FYE 04 Updates

•Update your AR SpeedTypes and your PO/AP SpeedCharts or create new ones

•Ledger Reconciliation – Commitment Control vs. General Ledger

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General Ledger > Review Journal/Ledger Data > Journals > KK_APP_EXP

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Commitment Control > Review Budget Activities > Budget Inquiry > Budget Details

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Cash Offset AccountsCash Offset Accounts

When changing Funds and/or SID on an SSJ or AP Journal Voucher OSC requires Cash Offset entries

Cash Offset Account

Usage

10419 Payroll – Salaries, Overtime, Mileage Reimbursement, In and Out of State Travel

10423 Vendor Payments from the AP Module

10436 Interagency payments between State agencies

Credit Expenditure and Debit Cash in old account Credit Cash and Debit Expenditure in new account

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Year End ReportingYear End Reporting

At year end, include Adjustment Period ‘998’ in your GL Reporting Requests

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Year End ReportingYear End Reporting

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Associated Revenues for Advance Funded Grants have been replaced in FY 2005 by direct appropriation and allotment of funds

•No action required by the agency OSC to use Daily Receipts report to increase APPROP and ALLOT budgets accordingly

•Budget Inquiries – look at your Budget line, not your Associated Revenue line for increased spending authority

•Commitment Control > Review Budget Activities > Budget Inquiry > Budget Details >

•Budget Reports - look at your Budget column for increased spending authority

Associated Revenue – FY2005Associated Revenue – FY2005

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End of Year ReportsEnd of Year Reports

•Year End reports will be run and disbursed after August 20

•CTGL311 Trial Balance of Appropriation

•CTGL128 Available Cash Balance

•CTGL316 Detail & Summary Revenue

•CTGL140 CFSR – A,B,C,D

•Same as “June 35” Reports

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New CFSR FormatNew CFSR Format

•All agencies will receive CFSR D

•KK_APPROP and KK_ALLOT

•Compared to APPROP budget ledger

•For funds: 11000, 12001, 12003, 12004, 12005, 12006, 12007, 12009, 12010, 12013, and 12014

•Auditors will receive for all agencies

•OPM will receive CFSR D from all agencies with Projections by the 10th of the following month

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Accounts ReceivableAccounts Receivable

•Update - Post FYE 04 •GIRO Payment Cancellations•AR Monthly Clean Up•User-Created Offsets vs. System-Created Offsets•Set Up External Customers for Billing•Training Needs

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Accounts ReceivableAccounts Receivable

•Users should continue to use the Line field to increment the lines in Items with multiple accounting lines

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Items with Multiple Account Code DistributionsItems with Multiple Account Code Distributions

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Post FYE ’04 UpdatesPost FYE ’04 Updates

•Unprocessed Deposits - Funds Awaiting Distribution

•Open Pending Item Groups for Refunds of Current Year Expenditures – 5XXXX accounts

•Create Open Item OR Direct Journal

•Use SID 18010 and Account 44410

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GIRO Payment CancellationsGIRO Payment CancellationsPayment

StatusAction

RequiredReissue Payment?

-GIRO Payment to Another State Agency

– Deposit Not Yet Processed

-Call Linda Carney (OSC) 702-3396

to cancel payment

-Call Bob Gnocchi (OTT)

702-3108to remove deposit

-If NO, and payment is non-PO, process is complete

-If NO, and payment is PO-related, prepare Reversal Voucher

-If YES, and payment is PO-related but for a wrong $amt and/or the wrong vendor, prepare a Reversal Voucher after OSC contacts you that pmt cancellation is complete. Then prepare new Regular Voucher for the correct $amt and/or the correct vendor

-If YES, and payment is non-PO but for a wrong $amt and/or the wrong vendor, prepare a Regular Voucher for the correct $amt and/or the correct vendor

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1. Identify Item Groups Not Posted or in Error2. Identify Payment Groups Not Posted or in

Error3. Identify Item Groups Not Passed through

Budget Check4. Complete all Unprocessed Deposits5. Identify Direct Journal Deposits Not Passed

through Budget Check

Monthly AR Cleanup Monthly AR Cleanup – Steps for Agencies– Steps for Agencies

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AR Cleanup Job AidAR Cleanup Job Aid

Navigation: http://www.core-ct.state.ct.us/user/finjobaids/2004ye.htm

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Cash Offset – User vs. System CreatedCash Offset – User vs. System CreatedAccounts Receivable > Collections > Item Information > Item Accounting Entries

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Cash Offset – User vs. System CreatedCash Offset – User vs. System Created

Do not change the AR Offset !!!

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Use the lightning bolt to create the Cash Offset !!

Accounts Receivable > Payments > Direct Journal Payments > Create Accounting Entries

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Do not manually enter the Cash Offset !!!

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Training UpdatePO Life Cycle

Establish a Pending ItemFor transfer invoices, for federal drawdowns, for some grant transfers

AR Update ProcessUpdates the Customer Balances by closing Items that have had Payments applied

Lockbox SQR & AR PayloadLoads all bank deposits, including GIRO payments

PENDING ITEM PENDING ITEM LIFE CYCLELIFE CYCLE

AR Revenue Estimate & Revenue ReversalRecognizes the Revenue from Pending Items, then creates journal entries reversing it

AR Budget Check Creates transactions in Commitment Control

Journal GeneratorPosts the Journal entries created in AR that update the MOD_ACCRL and MOD_CASH ledgers

Payment PredictorMatches GIRO payments to Open Pending Items

AR Update & Receivables AgingCloses Items with GIRO Payments applied by Payment PredictorUpdates Customer Balances

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Training UpdatePO Life Cycle

Establish a Pending ItemFor transfer invoices, for federal drawdowns, for some grant transfers

AR Update ProcessUpdates the Customer Balances by closing Items that have had Payments applied

Lockbox SQR & AR PayloadLoads all bank deposits, including GIRO payments

DIRECT JOURNAL DIRECT JOURNAL LIFE CYCLELIFE CYCLE

AR Revenue Estimate & Revenue ReversalRecognizes the Revenue from Pending Items, then creates journal entries reversing it

AR Budget Check Creates transactions in Commitment Control

Journal GeneratorPosts the Journal entries created in AR that update the MOD_ACCRL and MOD_CASH ledgers

Payment PredictorMatches GIRO payments to Open Pending Items

AR Update & Receivables AgingCloses Items with GIRO Payments applied by Payment PredictorUpdates Customer Balances

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Set Up External CustomersSet Up External Customers

Customers > Customer Information > General Information > Find An Existing Value

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Click on the Help link to see the WLA instructions

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Click on the Help link to see the WLA instructions

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Training NeedsTraining Needs

•What are your agency’s training needs?

•Who needs training?

•What training do they need?

•Why do they need the training?

•When do they need the training?

•Email your requests to: Holly.Osburn @ po.state.ct.us

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Thank You for your participation today. We hope this information proved helpful…

• Look for this presentation and meeting Q & A’son the Core-CT Website (http://www.core-ct.state.ct.us/)

• Next Meeting – August 4, 2004101 E. River Drive, Room 1002 A&B AR/GL User Group Overflow

• 1 pm to 4 pm

ClosingClosing

1 state of connecticut core-ct project financials user group meeting ar/glpost fye ‘04 august 2004

Documents

exp slide

new account slide

general ledger slide

year end reporting slide

following month slide

billing training needs

training needs agenda

gl reporting requests