grants operational closing procedures fy 2015 june 20151

Grants Operational Closing Procedures FY 2015

June 2015 1

June 2015 2

Agenda

Welcome Revenue Closing Timeline Grant Tasks Questions and Answers SEFA/SIS Reporting

Grants/Projects Revenue Recognition Closing Timeline FY2015

3June 2015

Grant Task 1 – Analyze and take action to close and/or complete Open Grant Items in Accounts

Receivable with dates prior to June 30th

Run query TN_AR18C_ALL_OPEN_ ITEMS_FD_SC

4June 2015

Grant Task 1 cont. – Analyze and take action

Invoice accounting dates greater than 30 days need to be analyze and resolved.

Run Query TN_GR05_BLD_TRANS_BY_INVOICE for each of the items to research source transactions.

Row 2 was for $.01 - might have resulted from drawing from the TN_GR03 amount instead of the invoice.

Row 3 when results of TN_GR05 shows only one voucher payment for the grant – has Federal grant been awarded? Check with program side.

5June 2015

Row 5 Contract LSTA2009 is a credit amount – run query TN_GR05 by invoice to find if this was from a PY Federal expenditure – can it be changed to current grant or does it need to be refunded back to the Feds?

Rows 6 & 7 example of a debit and credit which needs to be closed with a maintenance worksheet.


6June 2015

Note: Some receivables unrelated to Grants


7June 2015

Grant Task 1 cont. Other options or questions to ask

Have all funds received been recorded as a deposit or was the receipt of funds recorded as a journal entry (JE)? Solution: Run query TN_AR04_MISC_DEPOSIT to research Solution: If not recorded as deposit, key with 6/30 date and close

appropriate items before 7/13

If grant is closed and no more funds available? Solution: Run TN_GR05_BLD_TRANS_BY_INVOICE to obtain

transaction details and move via GL journal voucher.

8June 2015

Grant Task 1 cont. Other options or questions to ask

Have all deposit transactions been recorded? Solution: For ACH run query TN_CM51_EN_BALANCE and

reconcile.

Have all checks received been taken to the bank and deposited?

Does an “on-account” item exist that needs to close an Invoice Item listed in the result of TN_AR18B? Solution: Refer to Task #2

9June 2015

Grant Task 2 - Analyze and take action to close any Open On Account Items in AR

Run query TN_AR18B_OPEN_OA_ITEMSAsk: Have any GL journals impacted Acct 35000700?

10June 2015


Row 107 for $.33 - did this result from drawing from the pivot table on TN_GR03 instead of from the invoice?

11June 2015


DOA does not recommend deposits for grants be put on the Customer’s account.

All open OA deposit items should be closed within fourteen (14) days from the accounting date of the OA deposit item.

Create maintenance worksheet with guidelines in the AR manual; change “Accounting Date to 6/30/15 only can be done until 7/10/15.”

12June 2015


Prior to netting any OA credits with open invoices, the TN_GR05_BLD_TRANS_BY_INVOICE query should be used to validate the accounting dates of the source transactions all occurred within the same or prior fiscal year as the applicable OA deposit.

Sufficient documentation should be attached to OA deposit to identify where funds came from, when the funds came in, and why the amounts were put on account.

13June 2015

Grant Task 3 – Reconcile AR Account 12000001 Trial Balance to Open Items - Overview

Timing is extremely important - recommend:Do 1st thing in the morningNo processing occurs in AR and Billing until all queries

have been completed.No pending AR or BI journals can exist or be in error – so

all AR/BI month end queries may have to be run.Single Action job (TBIJOB3) completed for prior day.AR_UPDATE process should not be ran by agency until this

task is complete.Billing other than “Grant” may exist for agency/BU.Prior state year has closed and balances have rolled.

14June 2015


Step 1: Run query TN_GR048_TRIAL_BALANCE_ACCT for Account 12000001 for a month and/or quarter end

Step 2: Identify all billing invoice items run query TN_AR18C_ALL_OPEN_ITEMS_FD_SC

Step 3: Create a Pivot table to view by Source and Fund

Step 4: Compare amounts from Trial Balance to Open Items

15June 2015


Step 5: Run query TN_AR21_ACCOUNT_ANALYSIS –gives one the ability to see all new invoice items created and invoice items which have been closed; allowing one to “back into” balances at any month end period. Query has to be run by a single period. (Periods would be combined if you were doing this past one month.)

If differences still exist, refer to “Trouble Shooting Guide for Reconciling AR Account 12000001” for additional information.

16June 2015

Grant Task 3 – Step 1Reconcile 12000001 Trial Balance to Open Items

Run query TN_GL048_TRIAL_BALANCE_ACCT and remember to include period “0” and end with the same period as previous queries – running only account 12000001 – do one fund at a time if business unit/agency has multiple funds.

17June 2015

Use a Pivot table to

view data. Project

information can be

ignored.


Run query TN_AR18C_ALL_OPEN_GRANT_FD_SC and use the ending accounting date of the current month.

18June 2015

Use a Pivot table

to view data.


Compare the amount from the Trial Balance to the Open Items query

A reconciling difference exist – Accounts Receivable per the General Ledger is more than the AR module shows as open invoice items.

19June 2015


Note – some of the Open Invoice Items are not related to Grant/Project transactions, but are online or other billings created by the agency. These still need to be reconciled and monitored by the agency.

20June 2015


Refer to Trouble Shooting Guide for Reconciling AR Account 12000001 for additional information.

Located on Division of Accounts Job Aids website

21June 2015

Grant Task 4 - Identify and complete any Customer (Revenue) Contracts/Grants in a Pending Status

Run TN_GR22_CONTRACTS_PENDING

22June 2015

Grant Task 4 - Identify and complete any Customer (Revenue) Contracts/Grants in a Pending Status

Transactions on projects in pending contracts do not bill or recognize revenue.

23June 2015

Grant Task 4 - Actions Needed to complete a Pending Contract

Finish Customer Contract Information Finish Bill Plan Information Finish Rate Set Information Make Customer Contract Active Add Notice of Grant Award to Award Profile Add Attributes to the Award Profile Attach documentation to the Award Profile

24June 2015

Grant Task 4 - Actions Needed to complete a Pending Contract continued

Make sure Project budget has been finalized Enter Project Type (Grant or BU specific) Run TN_PR101_PROJECT_COST_DETAIL to

determine if transactions have occurred If yes, provide the Grants team with the BU,

Contract, Project ID, & Accounting range needed to run Pricing.

25June 2015

Grant Task 4 - Actions Needed to complete a Pending Contract continued

Check Commitment Control> Review Budget Activities> Budgets Overview and look by BU/Agency by the PRJ_OVR_PR (Overall project level) to see if expenditures have been budget checked and are in progress

26June 2015

Grant Task 4 - Important Notes Domino effect of wrong “Rate Set”

If flow-through from another state agency “68090” or if received from a non-governmental sponsor “68060”

Could have recognized 68001 Federal Revenue even if you have not billed

Run TN_GR32_CONTRACTS_REVENUE to see revenue recognized

If agency corrects using GL JV’s instead of creating new grant/project – remember domino effect that a billing (BI) journal may be left in the system

Do NOT change rate set dates once Contract created! 7XXX expenditures do not bill on STAT rate sets

27June 2015

Grant Task 5 - Identify and resolve Over-the-Limit (OLT) transactions

Step 1- Run TN_GR19_OLT_CHECK query

28June 2015

Grant Task 5 – Options when addressing OLT transactions - Step 2 Determine if...

1) Contract billing limit should be increased.

2) Expenditures need to be moved to different grant.

3) Expenditures need to be changed to a STATE activity.

4) Expenditures need to be moved to state with no project ID.

Note: Analyze why these transactions occurred by project ID; other transactions may have been charged in error and what is in OLT may be valid for the project/grant.

29June 2015

Grant Task 5 – Options when addressing OLT transactions Step 2 Action 1

If contract can be increased, process a contract amendment. Follow Grant manual Section 3.2

Notify Edison Grants team to run Pricing. Provide BU/Agency, Project ID, Contract/Grant, and Accounting Dates.

30June 2015

Grant Task 5 – Options when addressing OLT transactions – Action 2

If contract cannot be increased and no more Federal dollars are available for that particular grant, run query TN_GR19A_OLT_DETAIL to reallocate

expenditures using an AG source journal voucher.

31June 2015

Grant Task 5 – Options when addressing OLT transactions – Step 2 Action 2

Reallocate using an AG journal to another Project Journal…..

32June 2015

Grant Task 5 – Options when addressing OLT transactions- Step 2 Action 3

Reallocate using an AG source journal to State Activity but keep same Project ID

33June 2015

Grant Task 5 – Options when addressing OLT transactions - Step 2 Action 4

Reallocate using an AG source journal to State and not associated to a Project…

34June 2015

Grant Task 5 – OLT’s

If you see the light bulb –

it’s a reminder !! TN_GR19_OLT_CHECK query

Run weekly and address promptly OLT transaction cannot be partially adjusted – all OLT

transactions must be adjusted Not correcting OLT transactions WILL cause a

difference in expenditures and revenue for specific period(s) and for state years

35June 2015

Grant Task 6 – Identify and resolve errors in Revenue Recognition

Overview:

Step 1: Identify Customer Contracts which have revenue recognized to wrong activity and take corrective action.

Step 2: Resolve other errors in revenue recognition

Step 3: Recognize revenue and expenditures in the same year to avoid improper SEFA reporting.

36June 2015

Grant Task 6 – Identify and resolve errors in Revenue Recognition Step 1: Identify Customer Contracts which have revenue recognized to wrong activity and take corrective action.

Run TN_GR24A_REV_WRONG_ACTIVITY

Analyze

results

and make

corrections

as needed !

37June 2015

Grant Task 6 – Identify and resolve errors in Revenue Recognition Step 1: Identify Customer Contracts which have revenue recognized

to wrong activity and take corrective action. Example A

Agencies 31865 and 32801 have “STATE” Activity

which recognized

68001000

Federal revenue;

31865 has been

corrected

however,

32801

needs a

correction.

38June 2015


to wrong activity and take corrective action. Example B

Agency 31865 has “PROGRAMINC” Activity which has

properly

reduced

68001000

Federal

Revenue.

39June 2015


to wrong activity and take corrective action.

Revenue recognized to wrong activity could be avoided: By monitoring TN_GR27_RATE_SET_ERRORS on a

weekly basis or after activation of new grants into Edison.

By monitoring the “TN_GR03” query daily for the “STATE” activity appearing and billing – it should not appear unless it is correcting a previously billed error.

By monitoring the “TN_GL64_REVENUE” query looking for 68001000 on Projects with “STATE” activity.

40June 2015

Grant Task 6 – Resolve other errors in Revenue Recognition - Identify and resolve Revenue not

recorded to a CN Journal - Step 2Run query TN_GR_A07A_REVENUE_NOT_CREATED

41June 2015

Grant Task 6 – Resolve other errors in Revenue Recognition - Identify and resolve Revenue not

recorded to a CN Journal - Step 2

From the query create a pivot table and analyze…

Unrecognized revenue cannot be resolve if a Customer Contract has had it’s Contract Processing Status marked Cancelled or Superceded!

Closed Contracts cannot be undone!

42June 2015

Grant Task 6 – Identify and anticipate year-end effect of revenue recognized in a different year than

expenditures - Step 3Run query TN_GR06X_REV_EXP_IN_DIFF_YEAR

43June 2015


expenditures - Step 3 cont.

Example:

44

Revenue Expenditure

June 2015


expenditures - Step 3 cont.

Example of year-end effect of expenditures and revenue not being equal:

if an OLT transaction existed at year-end and was not addressedif revenue recognition stopped before expenditure related transactions were closedif Customer Contract was in a “pending” status at year end – when re-priced expenditures in one state year and revenue in another

45June 2015


expenditures - Step 3 cont.Create a Pivot Table to see totals.

Remember SEFA pulls from revenue recognized through projects because it will result in a reconciling item.

46June 2015

Grant Task 7 – Identify and Resolve Indirect Cost (F&A) Errors

Run TN_GR28_SFA_COM_CNTRL_ERRS query

47June 2015


Run TN_GR29_SFA_INTERACTIVE query

48June 2015


F&A (Indirect Cost) Action Errors to fix E6 - Budget Date out of Bounds – change dates. E1 - Exceeds Budget Tolerance – increase budget or

move expenditures to a different project. AD - No Offset Associated Department – notify Edison

Grant team. RF - Funded or Institution Rate Percent not found –

insert rates on Federal Activity F&A page.

49June 2015


F&A (Indirect Cost) If applicable expenditures moved – F&A/Indirect

cost charges move if automated F&A process is being used.

At year end all 89040000 (Indirect Cost Expenditures) and 89035000 (Contra Indirect Cost) accounts should equal.

All F&A errors to be cleared & Edison will stop automated F&A process on August 8th.

50June 2015

Grant Task 8 - Review and analyze projects not associated with a Customer Contract.

Run TN_GR22A_PROJ_NOT_ON_CONTRACT and analyze…

51June 2015

Grant Task 8 - Review and analyze projects not associated with a Customer Contract.

If reporting

project, it is valid

to pull on query.

If costs need to be re-allocated via GL JE, run query TN_PR101_PROJECT_COST_DETAIL to get details.

If Edison does reallocations – review to ensure values were reallocated.

52June 2015

Grant Task 9 - 6/13 & ongoing - Determine and resolve any Abnormal situations which exist or if “analysis types” have been incorrectly used.

Run query TN_GR23_ANL_TYPE_ABNORMAL

The Project “Activity” along with “Analysis type” should identify funding source.

53June 2015

Grant Task 9 – 6/13 & ongoing - Determine and resolve any Abnormal situations which exist or if

“analysis types” have been incorrectly used

Analyze looking for abnormalities….

Example - Abnormal situation: GLR with Expenditure Acct

54June 2015

Grant Task 9 – 6/13 & ongoing - Determine and resolve any abnormal situations which exist or if


Other abnormalities…

55June 2015


“analysis types” have been incorrectly used Run TN_GR23A_JOURNAL_INQUIRY to obtain

information needed to process GL/AG journal Fix the abnormal combinations,

State Activity and GLE

Federal Activity and CGE

Rate Set Federal 68001, but Activity is NONGOV or INTERFED

56June 2015



Analysis types to use only in GL/Interunit Journals GLE – General Ledger Expense CGE – Cost Share General Ledger Expense SJE – Statistical Journal Entry GLR – General Ledger Revenue IUR – Flow-through Interdepartmental Revenue SFA – F&A (Indirect Cost) Expenditure OFA – F&A (Indirect Cost) Contra Offset YAE – Year-End Accrued Expenditures YAR – Year-End Accrued Revenue

57June 2015


“analysis types” have been incorrectly used PROGRAMINC can automatically reduce the draw when

recorded on a JE or a deposit with Project ID, Federal Activity and analysis type “GLR” if agency is configured.

Valid

Program

Income

revenue

accounts:

58June 2015

Grant Task 9 – 6/13 & on-going - Determine and resolve any abnormal situations which exist or if


PROGRAMINC returning as invalid value, but OK if agency is manually recording program income.

Example of manual reallocation journal of program income:

59June 2015

Grant Task 10 - 6/19 – 8/7 - Identify Project-related journals which have not posted

Identify Project-related Journals that have not posted This should be done each Friday through July 31st ! Done daily on these dates from Monday, August 3rd to Friday

August 7th. No reallocation JV/AG/EX journals for grants/projects can be

entered for state FY 2015 after August 4th !!!!

60June 2015

Grant Task 10 Identify Project-related journals which have not posted

Run TN_GR20A_JRNLS_NOT_POST_GR and analyze…

Check budget status Check processing status

61June 2015

Grant Task 10 – 6/19 – 8/7 Identify Project related journals which have not posted

1st - Check budget status E= error, N = has not been processed, V= valid

2nd - Check processing status: G= Pending, P= Approved to post, and

N = None (None can mean agency approvals not done or Div of Accts has denied – if the latter is the case the journal can be reworked and reprocessed)

62June 2015

Grant Task 10 - 06/19 – 8/7 Identify Project related journals which have not posted

Remember to include all open period dates Approve journals not approved by agency Evaluate if any have budget errors and resolve errors If interagency IU journals, email or call

corresponding agency Follow up on journals to determine why they are not

posted If Division of Accounts General Ledger group has

denied – they can be re-worked & re-submitted

63June 2015

Grant Task 10 -6/19 – 8/7 - Identify Project related journals which have not posted

Uploaded journals can cause problems in balancing. the total appears to balance, however the journal lines were NOT rounded to “two” decimal places causing the journal not to balance and process

64June 2015

Grant Task 10 – 6/19 - 8/7 - Identify Project related journals which have not posted

Journals could fail budget checking “No Budget Exists” on the PRJ_FDS_CH level…this means the budget item does not exist on the grant budget

65June 2015

Grant Task 10 -6/19-8/7 - Identify Project related journals which have not posted

Add the budget item (only five digits!) and change accounting date on Project Detail tab to before date of Journal failing budget checking!

66

Need to change accounting date to before JV date

June 2015

Grant Task 10 - 6/20-8/8 -Identify Project-related journals which have not posted

Validate the auto-reversing journals processed for year-end in the next state fiscal year and that no journals fail to post due to budget errors.

If an auto-reversing journal does not post – contact Division of Accounts General Ledger section.

67June 2015

Grant Task 11 – 6/19 & ongoing - Evaluate transactions that have not yet billed

Run TN_GR20_UNBILLED_TRANS_DETAILS query

68June 2015


Results of query TN_GR20_UNBILLED_TRANS_DETAILS

69June 2015


First use Query TN_GR20 to analyze Contract Status and Processing Status with use of Pivot Table

Any status other than “Active” will not bill or recognize revenue.

70June 2015


Then use Query

TN_GR20

to analyze

with Pivot

Table –

Billing

Status in the

Column

71June 2015


Analyze with Pivot Table - Put the Billing Status and Billing Analysis Type in the column then filter on Priced….

and

add

Acctg

date to

Row

BIL will bill - OLT (over the billing limit) will not bill!

72June 2015


Then use Query

TN_GR20

to analyze

with Pivot

Table –

Revenue

Recog

Status

73

C = Revenue processing has not yet

occurred

Distributed = Revenue has

been recognized & posted to GL

Generated = Revenue accounting lines have been created but not

posted to GL

Ignored = Revenue

will not be recognized

S = Revenue is in process None = Revenue has not been recognized

June 2015


Notes to Remember on queries ….

TN_GR20_UNBILLED_TRANS_DETAIL and

TN_GR03_BILLING_DETAIL Just because you delete the temp bill, the transactions

don’t go away If you have Federal project activity – Federal revenue normally has

been recognized & will appear on SEFA for year end Move transactions where no FEDERAL funds are available! DEF lines do not appear on the TN_GR20 but do on GR03 DEF lines do appear on TN_GR20_ELIG_UNBILLED_TRANS_DT

74June 2015

Task 12 – 06/26/2015 Reconcile pass-through Grants BLD

and Revenue (IUR/GLR)

Run TN_GR04_INTERDEPT_AR query for first eleven months…

75June 2015

Task 12 – Reconcile pass-through Grants BLD and Revenue (IUR/GLR) due 6/27 for IU billed

through May 31st Analyze results of query –

76June 2015


through May 31st Does BLD and IUR equal?

If yes, the billed amounts of the invoices equal the IU revenue & Supplemental Schedule will be correct!

Does BLD and IUR not equal? If yes, validate all bills have been approved &

processed through Single Action. Create IU journals If invoice amount different from IU, does billing need

to be adjusted with a GL Journal to move transactions?

77June 2015


through May 31stReview

query

Missing BLD transactions for C14AV for $1546.13 Could run TN_GR20_JRNLS_NOT_POST to identify

whether or not journal has been done If IUR amount was greater, check to see if IU journal has

been done, this query would also tell you where it is in process (pending, in budget error, etc.)

IU journal can’t be entered for less than $1,000.00!

78June 2015

Task 13 Last Day to enter Project Related Travel Expenditures – 06/30/2015

Last day for all travel expenditures with accounting dates of June related to Grants/Projects to be submitted.

Can I enter travel in July and date it with a June accounting date?....only if agency is reallocating on a journal entry travel that has already been entered.

79June 2015

Grant Task 14 New state FY year begins

Date Reminder on TN_GR03

July 1, 2015

Two sets of billing and revenue recognition begins State Fiscal Year 2016 begins

Two temp bills for each Contract/Grant if transactions exist in both state years

JV’s in an Adjustment Period are dated 6/30/2015!

80June 2015

Grant Task 14 New state FY year begins

Remember to BILL the PREPAIDS

that are June transactional accounting dates

with JUNE Billing date!

Can be done until the AR and Billing

modules close on July 13th!

81June 2015

Grant Task 15 and 16 – 7/10/15

Analyze Open Grant Items in AR

Query TN_AR18_OPEN_GRANT ITEMS

Repeat Task 1

Analyze Open On Account Items in AR

Query TN_AR18B_OPEN_OA_ITEMS

Repeat Task 2

82June 2015

Grant Task 17 - 7/10/15 Prepaids

Last day for the Creation and Processing of (Immediate Billing) Prepaids associated to Customer Contracts/Grants for deposits received in June or before!

Before the AR module closes, if you have a prepaid/advance at June 30th that you have collected and is associated to a Grant, it needs to be entered, billed, and deposit recorded to close the open immediate prepaid billing invoice item.

83June 2015

Grant Task 18 - Submodules Closed

July 13, 2015

All Edison submodules closed for FY2015

except for……..

Customer Contract – Revenue recognition F&A (Indirect Cost) automated processing

84June 2015

Grant Task 19 – July 27, 2015Grant Related Accrued Liability entries due

Last day for Accrued Liability entries 1. YAE is the analysis type on expenditure line only.

2. Journal Source – LA type journals

3. May need to increase grant project budget in order to enter the accruals.

4. Auto-reversing journals.

5. Associated revenue to Accrued Liabilities must be entered on an RA journal.

6. Division of Accounts gives detailed directions on LA’s on Job Aids web site.

85June 2015

Grant Task 20 July 31, 2015

Last day of entry of IU journals by creating agency related to projects/grants.

This is a very short window if waiting until the last minute to enter the IU journals. The agency creating

the IU needs to call and notify via email the secondary agency that an IU exists for them to

complete!

86June 2015

Grant Task 21 August 1, 2015

Evaluate and take action to resolve project/grant

related journals in the system which have not

been posted for FY15. Review for budget errors

and missing approvals.

87June 2015

Grant Task 22 – August 3, 2015Grant Related Accounts Receivable entries

by agency due

YAR is the analysis type on Revenue line only with Project ID

Journal source – RA type journals. Auto-reversing journals; be sure to validate auto-reversing

journals post and do not fail in budget checking. Division of Accounts gives detailed directions on RA’s on

Job Aids website Approvals by agency on these journals due by 08/04/2015

88June 2015


Last day for entry and submission by

secondary Agency on IU journals.

Take care of the impact to Projects/Grants where Customer Contracts may be near or at the billing limit; an agency does not want OLT transactions on the last day to do any project re-allocations!

89June 2015


Last day for entry of miscellaneous

JV/AG/EX journals to correct a

previous FY15 transaction

affecting Projects/Grants!

90June 2015


Temp bills related to June 30, 2015 prepaid expenditures should be approved before the AR module closes on July 13th if at all possible!

If not, miscellaneous journal will be needed if prepaids are billed after close of AR module. Run query TN_GR_A06_UTL_IN_NEXT_YR for

values to create the journal with NO project information & see Year End Closing document for example of journal.

91June 2015


Last day for agency approval of Accounts Receivable (source RA) journal vouchers against

Accrued Liabilities

92June 2015

Grant Task 26 - August 4, 2015Repeat Task #12 only through June 30th

Reconcile grants/project related interunit (IU) revenue with billings with an accounting date through June 30, 2015.

93June 2015


Last day of agency/business unit

APPROVALS

of miscellaneous

JV/AG/EX journals to correct a


affecting Projects/Grants.

94June 2015


Last day of APPROVALS

by Division of Accounts

of miscellaneous

JV/EX journals to correct a


affecting Projects/Grants

and IU journals.

95June 2015

Grant Task 29 - August 7, 2015Analyze grant related contra accounts for proper state year-end balancing and clear all errors on

F&A (Indirect Cost) processing. Run query TN_GR_A13_89040000_VS_89035000

96June 2015


F&A (Indirect Cost) processing. Run query TN_GR_A13_IDC_NOT_IN_BALANCE

97June 2015

Grant Task 29 - August 7, 2015Analyze grant related contra accounts for proper state year-end balancing on In-kind transactions.

Run query TN_GR_A13_89300000_VS_893010000

98June 2015


F&A (Indirect Cost) processing.

Normally any errors on F&A (Indirect Cost) processing are brought to the business unit and/or agency’s attention by the Edison Grant’s team on a daily basis to fix

If you have errors – Reference Task 7 for additional information

99June 2015

Grant Task 30 – August 7, 2015Perform Deferred Revenue analysis

Run TN_GL048_TRIAL_BALANCE_ACCT for Period “0” to get beginning balances Use 3500% (wildcard) to only get the deferred accounts

100June 2015


Analyze trial balance to get amounts by grant deferred revenue accounts for period “0”

101June 2015

Grant Task 30 – August 7, 2015 Perform Deferred Revenue analysis

Run TN_GL66_LIABILITY_ENTRIES_PD

for each period and combine into a spreadsheet

102June 2015


From the results, the source of the transactions which have been processed can be seen….

AR = Accounts

Receivable

BI = Billing

CN = Revenue

Recognition &

Utilization

JV = General

Ledger Journals

AL = Allocated Interest

103June 2015


Create a pivot table to show the activity by period.

By adding Period“0” balance from the Trial Balance the current balance in Deferred revenue will be shown…

104June 2015

Grant Task 31 – August 7, 2015 Interest on Deferred Revenue accounts should be posted and Conversion (type) prepaids added to

Customer Contract(s) and processed. Refer to Grant Manual Section 4.2 for prepaid

creation. Don’t forget about Prepaids created for interest

earned on deferred revenue accounts. Conversion close of interest related prepaids has

to be done by Edison financials. Date validation due on Year-end Checklist

105June 2015

Grant Task 32 – August 8, 2015Contracts Module Closed

106

Customer (Revenue) contract module closed for FY 15 (revenue recognition for FY15 will NOT occur after this date)!

June 2015

Grant Task 33 – August 8, 2015F&A (Indirect Cost) Closed for FY15

F&A (Indirect Cost) Closed for FY 15 automated processing for FY15 closed (stops processing for FY15)!

107June 2015

Grant Task 34 – August 10, 2015Billing for FY2015 Stops

Last day for temporary bills on TN_GR03 with 2015 State Year accounting dates to occur!

108June 2015

Grant Task 35 – August 10, 2015Evaluate 2015 Journals

Evaluate miscellaneous JV/EX/AG journals which were NOT approved for FY15 transactions affecting projects/grants and delete the journals not approved.

Run query TN_GR20A_JRNLS_NOT_POST_GR

109June 2015

Grant Task 36 – Submit Schedule of Expenditures of Federal Awards (SEFA) and Supplementary

Information Schedule (SIS)September 18, 2015

110June 2015

For SEFA - Run query TN_GR06_SEFA_EXP


Information Schedule (SIS)SEFA report example….

111June 2015


Information Schedule (SIS)For Supplemental (SIS) Run query TN_GR06S_SEFA_SUPPL

112June 2015


Information Schedule (SIS)SIS – Supplemental Report example

113June 2015

Grant Task 36– Submit Schedule of Expenditures of Federal Awards (SEFA) and Supplementary

Information Schedule (SIS) Reconcile the SEFA and SIS to the GL and Federal Reports SEFA and SIS Reconciling Tips

Program Income transactions which automatically reduce the Federal draws do NOT have associated direct expenditures – run query TN_GR24A_REV_WRONG_ACTIVITY to easily identify the reduction of revenue by the income from Program Income.

TN_GR06X_REV_EXP_IN_DIFF_YEAR from Task 6 can help to identify expenditures and revenue recognized in different state years.

TN_GL048_TRIAL_BALANCE – gives all chartfield values114June 2015


Information Schedule (SIS)Example of part of a reconciliation between Expenditures and Federal Revenue – most of the differences are due to Refund of PY Federal Expenditures affecting 68001000 revenue; however Project ED0000CB13AAX13 is still out of balance….

115June 2015


Information Schedule (SIS)Note the difference between total Federal revenue and expenditures for the project is 68080005 Program Income Revenue which, when recorded, reduces Federal Revenue on project ED0000CB13AAX13. However the recording of Program Income 68080005 does not reduce total expenditures.

116June 2015


Information Schedule (SIS)

It is important when documenting the reconciliations for the SEFA and SIS reports that there is sufficient information to provide a trail that anyone can follow for the reconciling differences…..

117June 2015

Reminder ! Last date for requests for new FY16 speedcharts

for FY16 for July 1st is June 23rd! Submit 100% speedcharts updates separately than splits If “replicated to Cashiering must have an account and

allow extra time for reviewing by Division of Accounts If in-activating a speedchart – make sure the

speedchart/task profile is not a default for an employee – run HCM query TN_TL142A_EMPL_ACCTG_DEF

Can’t submit until Project ID/Grant is in system Submit to Jennifer Lewis & Beverly Bean

118June 2015

NOTE

Remember the Domino Effect…. As you do various steps, you WILL have to

recheck queries…..

119June 2015

http://www.123rf.com/photo_2818785_troubleshooter-simple-conceptual-illustration.html

Questions and Answers

120June 2015

grants operational closing procedures fy 2015 june 20151

Documents

federal grant

account items

current grant

open oa deposit items

result of tn

invoice query

arrun query tn

thrun query tn