Preparing for Year End Close: Reviewing Open Transactions

Transcription

1 Preparing for Year End Close: Reviewing Open Transactions 1

2 Today s Webinar Webinar format Presentation, followed by Q&A Use the chat window to type your questions We will answer them in the order they were received during the Q&A segment The webinar recording will be posted on ccinfo.unc.edu 2

3 Purpose of this Webinar The purpose of this webinar is to explain your responsibility in processing unposted transactions to prepare for year end close. We will also walk through the procedure for ensuring all your transactions are processed. 3

4 Objectives In this webinar, we ll cover: The Month End and Year End Close process for transactions Reasons transactions get stuck How to identify stuck transactions Resources for interpreting error messages 4

5 Hands-on training available in April Starting in April, we will offer hands-on classes for how to identify and process your unposted transactions. The content of the class will be similar to what we cover today, but you will have a chance to work on your actual transactions in ConnectCarolina. To sign up for classes, go to Training > Training Schedule on the ccinfo.unc.edu website. 5

6 About Year End in ConnectCarolina 6

7 Year-end is approaching This is the first fiscal year-end close in ConnectCarolina. Just like in past years, Dennis Press, our University Controller, will communicate cut-off dates for year end close. But there is an important thing you can start doing now to get ready and to make year end easier: Manage your open transactions 7

8 Month-end and year-end close Getting ready for month end close helps you get ready for year end Each month after go live, you ve been managing your transactions, particularly budget journals and campus journals 8

9 Reminder: What happens to transactions at month end For this transaction Budget journal or transfer Campus journal This happens at end of month Accounting Services deletes or posts them. Accounting Services deletes or posts them. Any type of voucher Requisitions and purchase orders Deposits and billing entries Accounting Services rolls them forward to the next month (by changing the accounting date to the new month). Requisitions and POs are posted in the month they are processed in (which can be a future month). Deposits are posted in current month. 9

10 For year end close For year end close, we can t leave transactions open. That means vouchers can t roll forward to a new fiscal year. All vouchers must be posted by the end of the year or they will be deleted. 10

11 Some updates to vouchers Within the next few weeks, you will be able to delete vouchers you ll no longer have to contact Disbursement Services. Within the next few weeks, automated processes will be put in place that will do the following on an ongoing basis (NOT just at year end): Delete all campus vouchers in Denied status and it s been more than 90 days since they were denied. Delete all campus vouchers that were created but never submitted, and it s been more than 30 days since they were entered. Delete all campus vouchers that were submitted but not approved by department-level approvers and it s more than 30 days since they were entered. 11

12 For year end close All requisitions must be closed or fully cancelled. If they are not, they are subject to being cancelled by central office. Purchase orders with an open balance can roll to the next year if all related documents are in the correct status. Note: Within the next month, you will be able to receive by PO ID you won t have to contact buyers to do this for you. Budget journals and transfers, and campus journals will continue to be deleted if they are not processed (department approvals complete). 12

13 So your goal for year end All transactions need to have departmental approval completed. So for each type of transaction that is open, figure out why the transaction is stuck, and then either: Delete it or Resolve the issue and then get it through departmental approval before the date specified by Accounting Services. 13

14 Year-end is approaching! IMPORTANT: Be sure to start addressing open transactions NOW. We ve built some queries to help you do that. 14

15 Identifying Transactions That Are Stuck 15

16 Three areas where your transactions can get stuck: Edit errors: checks the system does on the transaction, such as making sure: the chartfield combination is valid (combo edits) dates are valid the PO, voucher, and receipt match Budget errors Unposted for any reason (for example, still in approvals) 16

17 Queries for managing transactions Edit error queries Budget error queries Approval Worklist queries Transaction Purchase Orders Vouchers Deposits Campus Journals (GL) Requisitions Purchase Orders Vouchers Deposits Campus Journals (GL) Budget Journals Payroll Requisitions Vouchers Campus Journals (GL) Query NC_PO_EDIT_ERRORS NC_AP_EDIT_ERRORS_VOUCHERS_DPT NC_AR_EDIT_ERROR NC_GL_JOURNAL_EDIT_ERRORS_DEPT NC_KK_ERRORS_REQ_DEPT NC_KK_ERRORS_PO_DEPT NC_KK_ERRORS_VOUCHERS_DEPT NC_KK_ERRORS_AR_MISCPAY NC_KK_ERRORS_JOURNALS_DEPT NC_KK_ERRORS_BUD_JRNLS NC_KK_ERRORS_PAYROLL NC_REQ_APPROVAL NC_VCHR_APPROVAL NC_JRNL_APPROVAL 17

18 Queries for managing transactions Vouchers, budget journals, and campus journals in unposted status Transaction Vouchers Budget Journals Campus Journals (GL) Query NC_AP_UNPOSTED_VOUCHERS NC_GL_BUD_JRNL_NOT_POSTED_DEPT NC_GL_JRNL_NOT_POSTED_DEPT1 Requisitions in any status Transaction Requisitions Query NC_EP_REQ_STATUS 18

19 Queries for Finding Edit Errors 19

20 Queries for finding edit errors The most common place for edit errors are vouchers and campus journals. You need to check those every day. Check purchase orders and deposits weekly. Edit error queries Transaction Purchase Orders Vouchers Deposits Campus Journals (GL) Query NC_PO_EDIT_ERRORS NC_AP_EDIT_ERRORS_VOUCHERS_DPT NC_AR_EDIT_ERROR NC_GL_JOURNAL_EDIT_ERRORS_DEPT 20

21 Query Viewer How to get there: Main Menu > Finance Menu > Query > Query Viewer Reporting Tools > 21

22 Query Viewer 1. Enter the name of the query. You can enter part of the name. Query Viewer searches for queries that begin with the values you enter. Examples: NC returns all queries that begin with NC NC_AP_EDIT returns all queries that begin with NC_AP_EDIT Note: The % sign is a wildcard search criteria 2. Click Search. 22

23 Query Viewer 3. Click the HTML link for the query you want to view. The Excel link opens the query directly to Excel The XML link is not useful for these queries The Schedule link is not available The Favorite link saves the query to a Favorites list within Query Viewer 23

24 Query Viewer 4. Enter uncch or uncga in the Unit field. For campus journals, the business unit is uncch, uncga, or a foundation business unit. For all other transactions, the business unit is uncch or uncga. Business unit is required. You can t use the wildcard for the business unit. 5. Enter a department, or a partial department using the wildcard or underscore. The Dept field cannot be blank. 6. Click View Results. 24

25 Edit queries: key fields Origin is where the voucher was entered: CMP Campus voucher XML vendor catalog order RMB web travel voucher ONL non vendor catalog order INN, LAW, etc. these are interfaces. The three letters identify the interface, such as INN for Carolina Inn. Job ID indicates type of error Online = invalid or missing chartfields AP_MATCH = match error APVCHREDIT = error in either amount, chartfield, or accounting date More detail about the error, such as the specific match error or the chartfields in error Voucher statuses: Complete Open Deleted Postable Modified Recycle Scheduled for Payment 25

26 Fixing the error Go to the Campus Voucher page. Enter the voucher ID that the query showed to be in error and click the Search button. 26

27 Fixing the error Click the Invoice Information tab. 27

28 Fixing the error Find the chartfields line with the error and click the Review Errors button. 28

29 Fixing the error Review the error message to determine the problem with the chartfield string. Note: See the Combo Edit Error reference for more information about combo edits. Click the Return button to return to the voucher. 29

30 Fixing the error Change the appropriate chartfields to correct the error. Click the Save button, which checks the chartfield string for errors. 30

31 Fixing the error If the chartfield string is valid for the line you changed, then the Review Errors button disappears. 31

32 Fixing the error Run the budget check process. Click the Submit For Approval button. 32

33 Rerun the voucher edit query Rerun the query until it shows no results. Your goal a blank query! 33

34 Queries for Finding Budget Errors 34

35 Queries for finding budget errors The most common place for budget errors are vouchers and campus journals. You should check those every day. Check other transaction types at least once weekly. Budget error queries Transaction Requisitions Purchase Orders Vouchers Deposits Campus Journals (GL) Budget Journals Payroll Query NC_KK_ERRORS_REQ_DEPT NC_KK_ERRORS_PO_DEPT NC_KK_ERRORS_VOUCHERS_DEPT NC_KK_ERRORS_AR_MISCPAY NC_KK_ERRORS_JOURNALS_DEPT NC_KK_ERRORS_BUD_JRNLS NC_KK_ERRORS_PAYROLL 35

36 Queries for finding budget errors Enter the name of the budget query. Click Search. 36

37 Budget queries: key fields Enter uncch or uncga in the Unit field. Enter a voucher ID, or the wildcard to show all vouchers. Enter a department, or use the wildcard to find multiple departments. Click View Results. 37

38 Budget query fields Budget error. See Budget Error reference for a full list. Where the voucher was entered 38

39 Fix budget errors and rerun the budget query Just like the edit errors, you need to fix the budget errors on each transaction and rerun the budget error query. Your goal a blank query! 39

40 Queries to find: unposted vouchers, budget journals, campus journals; requisitions in any status 40

41 Queries to find: unposted vouchers, budget journals, campus journals; requisitions in any status Unposted queries show all transactions that aren t posted, including transactions: With edit errors With budget errors Still in the approval process Approved but not yet posted. (Posting runs once per day after 6:00 p.m.) Transactions that have not posted queries Transaction Vouchers Budget Journals Campus Journals (GL) Query NC_AP_UNPOSTED_VOUCHERS NC_GL_BUD_JRNL_NOT_POSTED_DEPT NC_GL_JRNL_NOT_POSTED_DEPT1 The requisition status query shows the status of all requisitions. Requisitions do not post. Open requisitions Transaction Requisitions Query NC_EP_REQ_STATUS 41

42 Queries to find: unposted vouchers, budget journals, campus journals; requisitions in any status Recommended practice: 1 2 Run the queries to find edit and budget errors, and fix those errors. Then run the queries to find unposted transactions or requisitions in any status. 42

43 Queries to find: unposted vouchers, budget journals, campus journals; requisitions in any status Enter the name of the query. Click Search. 43

44 Queries to find: unposted vouchers, budget journals, campus journals; requisitions in any status Enter the business unit. Enter a department ID, or use the wildcard to see multiple departments. Enter a specific User ID, or the wildcard to show all vouchers. Click View Results. 44

45 Queries to find: unposted vouchers, budget journals, campus journals; requisitions in any status Your goal all transactions should be completed through department approval Denied you need to work those Approved those are complete Pending could be pending with the department or with central office. The accounting date can be an indicator or where it is pending, i.e., it is typically not pending long with central office. 45

46 Queries for Viewing the Approval Worklist 46

47 Queries for viewing the approval worklist Shows transactions currently in a worklist. If a transaction has been approved or denied, this query won t show it. The approval queries are keyed by approver ID. The approver must be logged in as himself to see the transactions. You can only view one person s worklist at a time. Approver ID 47 47

48 Summary Your responsibility is to have all transactions complete through department approval For month end, budget journals and campus journals are subject to being deleted if department approvals are not complete by the specified date For year end, NO transactions, except purchase orders where all related documents are in the correct status, can carry forward. If you do not have them complete through department approval, they are subject to being deleted by central office. This includes: Budget journals and budget transfers Campus journals (GL) Vouchers Requisitions Purchase Orders where related documents are not in the correct status Deposits On an ongoing basis, you should run the queries to check for edit errors, budget errors, and transactions in any not-posted status 48

49 Query tips Don t leave any of the search fields blank. Use the wildcard % to do a partial search. The underscore _ works as a wildcard for a specific position. You can download queries to Excel. Search fields are not case sensitive. 49

50 Navigation to finance transactions Navigation for managing finance transactions Requisitions: Main Menu > Finance Menu> eprocurement > Manage Requisitions Purchase Orders: Main Menu > Finance Menu > Purchasing > Purchase Orders > Review PO Information > Purchase Orders Vouchers: Main Menu > Finance Menu > Accounts Payable > Review Accounts Payable Info > Vouchers > Voucher Deposits: Main Menu > Accounts Receivable > Payments > Online Payments > Regular Deposit Budget transfers/journals: Main Menu > Finance Menu > Commitment Control > Budget Journals > Enter Budget Journals/Enter Budget Transfers Campus Journals: Main Menu > Finance Menu > General Ledger > Journals > Journal Entry > Create/Update Journal Entries 50

51 References on ccinfo.unc.edu 51

52 Combo edit errors Document name on ccinfo: Combo Edit Rules Comb Edit Rule Description Message field in query AFSD_IV Account, Fund, Source, and Department are required on every line. Account/Fund/Source/Dept AF_VI Rule 1 Revenue on State funds and all expense lines must have a fund with a Purpose code. The Fund cannot end in 00, such as and ACCOUNT/ CLASS_FLD/ DEPTID/ FU Account/Fund Rule 2 Fund codes 29900, 29910, 29920, or cannot be used with ACCOUNT/ FUND_CODE Business Unit UNCCH. A foundation business unit must be used with these funds. FAJ_VV Lines with OSR or Capital Improvement fund codes must have a Project ID. Fund/Account/Project ID FUND_CODE/ PROJECT_ID/ ACCOUNT FS_IV Fund and Source combination must be valid. Fund/Source SAP_RQ_VV Rule 1 The Source/Account combination requires a specific Program code. Rule 2 The Source/Account combination requires the Program field to be entered (not be left blank). Rule 3 The Source/Account combination requires the Program field be blank. FUND_CODE/CLASS_FLD Source/Program/Account CLASS_FLD/ PROGRAM_CODE/ ACCOU 52

53 Combo Edit Errors Document name on ccinfo: Combo Edit Rules Combo Edits when a foundation Business Unit is used Comb Edit Rule Description Message field in query AF_UNIT Foundation business units can only use these funds: 29900, 29910, & FS_CHASF/FS_CHATH Foundation business units require a source code unique to the business unit. For example, CHASF can only use Sources that start with a 'C. Account/Fund Fund/Source Combo Edits for Data Collect Batches only Comb Edit Rule Description Message field in query SF_VI_BO DF_VI AF_VI* Falls under the same AF_VI rule above. Budget Only Source/Fund combinations cannot be entered on Data Collect Batch files. Budget Only Dept/Fund combinations cannot be entered on Data Collect Batch files. Occurs when a Budget Only account is entered on the file. Budget Only accounts are not allowed. Source/Fund Dept/Fund Account/Fund Combo Edits for Athletics only Comb Edit Rule Description Message field in query P1_ATH SD_ATH_IV Requires a valid Program/Cost Code 1 combination for Athletics Requires a valid Source/Department combination for Athletics. Program/Cost Code Source/Department 53

54 Budget errors Document name on ccinfo: Common Budget Check Exceptions Most common Error Description Possible solution E1 Exceeds budget and is over tolerance Take one or more of the following actions: Reduce the dollar amount of the transaction so that it does not exceed the budget available. Use a chartfield string that has sufficient budget available E2 No budget exists Use a chartfield string that has sufficient budget. Enter a budget E3 Budget closed Enter a different chartfield string for an open budget E6 Budget date is out of bounds Note: Only occurs with OSR projects. Enter a different chartfield string for an open budget Less common but could occur Error Description Possible solution E35 Required key CF (chartfield) is blank Enter a chartfield and re-budget check E36 Chartfield combination errors exist Resolve the combination error and re-budget check E45 Non key CF (chartfield) has a value Clear the chartfield from the field that is supposed to be blank E48 Chartfield value not at Tree Level Contact a business analyst E49 Key Chartfield is blank Enter a chartfield and re-budget check E64 Parent budget does not exist Contact a business analyst E91 Translation Tree Error Contact a business analyst 54

55 Other references on ccinfo.unc.edu Name of document on ccinfo > Documents Viewing Voucher Statuses Voucher Status Voucher Matching and Error Troubleshooting Query Checklist for maintaining requisitions Checklist for maintaining vouchers Description Explains the fields on the voucher page. Useful if you are working on a particular voucher. Lists voucher statuses, including all the three letter codes for 3 rd party voucher interfaces, such as INN for Carolina Inn Lists the match error codes and what they mean Summarizes the guidelines for handling requisitions with errors or any other issue keeping it from being processed* Summarizes the guidelines for handling vouchers with errors or any other issue keeping it from being processed* *Look for these in the next couple days. 55

56 More info about queries The Training tab of the ccinfo.unc.edu website Recording of the webinar: Preparing for Year End Close: Reviewing Open Transactions 56

57 Q&A 57