urfinancials project...2013/03/20  · • current reporting structure frozen at 6/30/14 • data as...

URFinancials Project Demo Days March 20, 2013

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Darren Picciano

For those joining the Webex: • 1) Please access the chat feature at the top of

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(He will then pose the questions on your behalf)

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Topics

UR Financials project update

The Workday Financial Data Model (FDM)

Demonstrations:

1. Demonstration #1 – Inherited Worktags

2. Demonstration #2 – Create a Journal Entry a. Run a Financial Report for cost center

b. Create a Journal entry

c. Rerun a Financial Report for cost center

d. Drill down into detailed transactions

3. Demonstration #3 - Perform a Pro Rate (allocation) a. Run a Financial Report

b. Run a pro rate (allocation)

c. Review the effects of the pro rate (allocation)

Data Conversion Approach

Reporting Approach

Questions and Answers

Survey

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Disclaimer

The material in this presentation is a first look at some of the design concepts of the UR Financials project. It is preliminary in nature and there is a 99% certainty that the design concepts WILL CHANGE over the course of the life of the project (the next 468 days). Please proceed with caution and use it primarily as “talking points” in discussion with the team.

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Scope

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Our primary focus is the elimination of high-risk financial information systems (FRS)

Team to recommend opportunities for business process improvement

Our implementation will be based on a standard solution where ever possible

There will be opportunities to enhance the Chart of Accounts (COA). Integration of COA back into interfaced systems (111) will be evaluated on a system by system basis

Feedback is encouraged and welcome

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Project Update “Planning Phase” of the project complete

Workday is on site holding design workshops

GATE 1 review was held with IT Leadership and received a “Pass”

Currently “refining” project scope

Like for like functionality (FRS vs. Workday)

Business process improvement opportunities

Workday version 19 came out on Monday. We project that much of our implementation will be locked on version 21 (circa November 2013)

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Workday Financial Data Model (FDM)

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FRS separates each grant, contract, or specific activity as individual accounts within their respective general ledger fund. Sub-ledger (S/L) accounts

are used to record the University's revenues and expenses. Each subsidiary ledger number refers to a specific type of accounts (i.e., ledger 1’s are

income accounts, ledger 2’s are expense accounts, etc.).

FRS Account Number Format

L - BBAAA - SSSS

Sub-

code

Account Id • Used to identify Fund Group and Fund

Value

Ledger number

The FRS account number format is as follows:

L- Ledger Number (0) or Sub-ledger Number (1 to 9)

B - Fund Group

A - Account Identifier (e.g., gift, sponsored program, special purpose, endowment principal)

S - Natural account for transactions

The FRS ledgers are as follows:

Ledger 0 – The University's general ledger accounts start with a 0 (zero)

Ledger 1 – Budgeted Revenue - Income Only

Ledger 2 – Budgeted Appropriations and Expenditures - Expenses Only

Ledger 3 – Self Supporting Activities - Revenue and Expenses Recorded

Ledger 4 – Restricted Endowment - Revenue Appropriations - Expenditures Only

Ledger 5 – Sponsored Research and Other Sponsored Projects Appropriation and

Expenditures- Expenses Only

Ledger 6 – Other Restricted Funds Appropriation & Expenditures - Expenses Only

Ledger 7 – Funds for Renewal and Replacement Appropriations - Expenditures Only

Ledger 8 – NOT USED

Ledger 9 – Agency Funds - Revenues and Expenses Recorded

UR Financials - Demo Days 3/20/13

Workday FDM “Worktags” The Financial Data Model is the multidimensional structure of Workday accounting and financial reporting. The FRS accounts and attributes will be

captured as “worktags”. Workday uses tags to identify the various dimensions of the business. These tags are called “Worktags” and will form the

building blocks of the new chart of accounts in Workday.

FRS account, sub-code, and attributes

Company

Fund

Cost Center

Grant

Ledger

Account

Spend

Category

Gift

Revenue

Category Worktags

Project NACUBO

Expense Code

(AICPA/ A21)

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Workday FDM “Worktags”

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Workday FDM Examples Here are few examples of how FRS transactions will be captured in Workday.

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Workday Navigation

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Search Box

“Worklet” Active Links

Report Links

Workfeed

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Demonstration #1 – Inherited Worktags (Grant 527695)

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Input Worktag • Grant

Inherited Worktag(s) • Fund • Cost Center

Journal Header

Demonstration #2 – Run Financial Report (Cost Center 298765)

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Cost Center

Detailed Lines

Demonstration #2 – Run Financial Report (Cost Center 298765)

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Drillable Amounts

Cost Center Summary

Lines

Demonstration #2 – Create a Journal Entry

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Detailed Lines

Journal Posting

Message

Demonstration #2 – Run Financial Report (Cost Center 298765)

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Changed Amount

Cost Center Summary

Lines

Demonstration #2 – Run Financial Report (Cost Center 298765)

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Report by Period

Demonstration #2 – Drill Down Into Financial Report (Cost Center 298765)

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Drill Into $27,000

Demonstration #3 – Run A Financial Report (No Pro Rated Amounts)

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Sender Cost

Centers

Receiver Cost

Centers

Demonstration #3 – Run A Financial Report (With Pro Rated Amounts)

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Allocations Out

Allocations In

Data Conversion Strategy

Team recommends converting the following FRS data into Workday:

G/L - 1 years worth (FY14) of month end balance. Posted as a journal entry. Need to determine the level of detail (i.e. FRS account)

Grants – open receivables

A/P – open invoices

FY14 Budgets (for year over year comparisons)

Can start converting July 2013 data in Fall of 2013

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Reporting Strategy:

• Workday = Go-Live and the Future

• Cognos & FRS = Frozen at Go-Live

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Go Live 7/14 Now until 6/30/14

FRS -DW

Cognos & FRS

Workday

• Current reporting structure

frozen at 6/30/14

• Data as of 7/1/14

• 1 Yr. converted data

• Reporting activities

Workday-

DW

Future

• Limited Workday Data

Warehouse

UR Financials - Demo Days 3/20/13

UR Financials Website

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Home – Current News, Events, etc.

Welcome

Timeline

FAQs

Project Team

Resources – Links to Presentations

Contact Us – Email to project team

Search capabilities UR Financials - Demo Days 3/20/13

Questions and Answers

Please fill out the survey

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