Lump Sum Payments & Funding Swaps. Nicole Šebik Change Management & Training Development

Transcription

1 Lump Sum Payments & Funding Swaps Nicole Šebik Change Management & Training Development

2 When we re finished, you will: Know how to use the funding grid Be familiar with funding information on epar forms Be familiar with chartfield rules, combo-edit and budget checking processes Know how to enter a lump sum payment Know how to enter a funding swap Know how to enter a retroactive funding swap Be familiar with the default chartfield string, suspense combo code, and custom-suspense combo code 2

3 Introductions What s your name? Where do you work? Use your initials to create a phrase about ConnectCarolina Nicole Šebik New Systems 3

4 Ground Rules 4

5 From an dated 7/28/14 Privacy & Confidentiality It is the project s policy never to show real information about a UNC employee, student or affiliate to individuals who do not already have the authorization to see that data. Please make sure that your demonstrations, training materials and presentations to Campus audiences use fake persons you have created for the purpose rather than selecting real examples. Central Administrative staff, of course, have access to broad populations across campus. Therefore, there are fewer restrictions on what you can show them. Matt Brody, Associate Vice Chancellor, Office of Human Resources Brian T. Smith, Finance Stakeholder Chair; Director, Treasury & Risk Management Services, Finance Division Fran Dykstra, Assistant Vice Chancellor, Enterprise Applications, ITS 5

6 Exercise Logistics First Trainwell PID: XX 6

7 What is Commitment Accounting? The area of ConnectCarolina that manages the employee funding process: Budgeting and encumbrances for positions and appointments Payroll processing Distribution of salaries, taxes, and benefits to the appropriate chartfield strings in the General Ledger 7

8 Commitment Accounting is updated through the submission of epar forms. electronic Personnel Action Request 8

9 Funding Grid 9

10 Funding Grid Enter funding sources in one of two ways: Basic Mode Using a combo code Expanded Mode Using a chartfield string 10

11 Basic Mode = Combo Code Combo Code a number used to represent a specific chartfield string Funding Grid: Basic Mode only exists in HR/Payroll; when payroll costs are sent to Finance, the chartfields are sent Combo Code Description Fund-Source-Account-Department for all fund types, except OSR Fund-Source-Account-Project ID for OSR and cost share Tip! Dept numbers are six digits. Project IDs are seven digits. 11

12 Expanded Mode = Chartfield String Chartfield String Funding Grid: Expanded Mode The chartfields used to fund a position, or appointment Always represented by a combo code on epar forms Required Fields For all fund types o Fund-Source-Account-Department For OSR and cost share o Fund-Source-Account-Department-Business Unit PC-Project/Grant-Activity ID 12

13 Funding Information on epars 13

14 Funding Information Funding Dates Effective date Funding end date OSR funds The system fills in the funding end date with the project end date. The date can be changed to an earlier date, but not later than the project end date. All other funds Unless otherwise specified, the funding end date is assumed to be the pay period end date for the last payday of the fiscal year. The date can be changed to an earlier date, but not later than the pay period end date. 14

15 Funding Information Budget and Expense Budget Amount Is the annualized amount. Funding source Entered as a combo code or chartfield string. Future Year Budget The Future Year Amount defaults to the Budget Amount when the Future Year Budget checkbox is marked. Applies primarily to State funds. Future year amount The amount can be changed. 15

16 Knowledge Check Funding sources are entered on the. FUNDING GRID epar stands for a) electronic Personnel Action Record b) electronic Personnel Account Record c) electronic Personnel Action Request Budget Amount is the a) Monthly amount b) Annualized amount Enter a combo code on the tab. a) Basic Mode b) Expanded Mode 16

17 Chartfield Rules, Combo Edit & Budget Checking 17

18 CF Rules, Combo Edit, Budget Checking The Three Edits 1. Must follow chartfield rules Example: An EPA non-teaching account cannot be used on a SPA permanent employee. 2. Must follow combo edit rules Example: Do not use an AA fund with a HA source. 3. Must have sufficient budget based on fund type Example: Must have sufficient SPA permanent budget at the School/Division level for State funds. 18

19 Logic Behind the Forms Basic Mode: enter combo code and press Tab The form ensures the code is valid and fills in the chartfield string. Expanded Mode: enter chartfield value The form checks whether a combo code exists for this chartfield string creates a combo code if needed; fills in the combo code if it exists. Click Submit and the form: 1. Checks the chartfield rules 2. Checks the combo edit rules 3. Checks the budget Approvers are notified if there is not sufficient budget, and may recycle forms. 19

20 Combo Edit & Budget Checking Process When you continue beyond the epar page with the funding grid, the system: Verifies the chartfield string Verifies funding exists in Commitment Control Generates a new Combination Code (if needed) Encumbers funds in Commitment Control 20

21 Errors 21

22 Errors Use the Message to decipher the error. 22

23 Errors Did not pass the chartfield rules 23

24 Errors Did not pass combo edit check 24

25 Encumbrances 25

26 How Encumbrances Work Uses the effective date on the form combined with the funding end date to calculate the new encumbrance For non-osr funds, assumes the funding end date is June 30, 20XX An earlier date can be entered, but not a later date. For OSR funds, fills in the funding end date The date can be changed to end earlier than the project end date, but not later. 26

27 An Example Professor Trainwell Details Hired September 1 Salary of $120,000 Paid on State funds Encumbrance $10,000 per month x 10 months = $100K 27

28 Encumbrance Liquidation Uses the time period between the new effective date and the funding end date from the history to calculate how much to liquidate Susan Trainmore Details Moved off F&A funds Effective April 1 Salary of $60,000 Liquidation $5,000 per month x 3 months = $15K 28

29 Vacant Positions Vacant positions are not pre-encumbered in Commitment Accounting. In other words, budget is not tied up for vacant positions. 29

30 Knowledge Check Vacant positions are not pre-encumbered in Commitment Accounting. HA Fund on an AA Source is a chartfield string error. You can use an SPA account on an EPA employee. I m digging this so far so good! 30

31 Lump Sum Payments 31

32 Lump Sum Payments A one-time payment to an employee. A payment type is required for all lump sum payments. Options displayed depend on the employee's classification. Work period start and end dates are required. Are added to the employee's regular paycheck. Except awards, which generate a paper check; the department's HR Representative picks up at the Payroll office. 32

33 Payment Types Of particular note Dock in pay Entered as a negative amount, and is deducted from the employee's paycheck. Use the current date. The negative lump sum payment will run in the current payroll cycle. Mobile Communication Device - $35 and $70 Now entered as a lump sum payment. Will recur until a stop is issued, or an employee is terminated. o Submit the MCD termination form to Payroll. Employees who currently receive MCD will walk over. 33

34 Work Period Start and End Dates Work Period Start Date and End Date are required. 34

35 Work Period Start and End Dates For MCD payments, enter the Effective Date in both fields. 35

36 Lump Sum Payment Retro MCD Payments Corrections to MCD funding sources are entered on the Fund Swap form. All other LSPs Lump sum payment funding sources that need correction, will be corrected by the Finance BA group. - Submit a Remedy ticket 36

37 Appointments Employees with appointments often have more than one job record. 37

38 Entering a Lump Sum Payment 38

39 Funding Swaps 39

40 Funding Swaps Changes to funding for an existing position or appointment: Change the dollar amount for an existing funding source Remove an existing funding source Add a new funding source To enter a funding source, you need: The effective date The budget amount The chartfield string, or its combo code 40

41 Funding Grid on a Funding Swap 41

42 Funding Swap Form Funding is displayed in grids 42

43 Funding Swap Form A separate grid shows each time funding was modified 43

44 Entering a Funding Swap 44

45 Retroactive Funding Swaps 45

46 Retros are entered on the Funding Swap form. Retroactive Funding Swaps To preserve the employee s funding history, you cannot make changes to existing funding grids. Instead, you copy a grid, and then make changes to the copy. ConnectCarolina contains historical funding sources and actuals distributions dating from July 1, The system also contains budget history beginning July 1,

47 Effective Sequence If grids have the same effective date, the grid with the highest effective sequence is the most recent. Tip! The original funding grid will always have Eff Sequence 0. 47

48 Where does the retro go? Effective Date 06/12/2014 Eff Sequence 0 Effective Date 04/01/2014 Eff Sequence 0 Effective Date 03/01/2014 Eff Sequence 0 Effective Date 11/01/2013 Eff Sequence 0 11/12/ /01/ /01/ /15/2014 Effective Date 07/01/2013 Eff Sequence 2 Effective Date 07/01/2013 Eff Sequence 1 Effective Date 07/01/2013 Eff Sequence 0 48

49 49

50 Effective Date 06/12/2014 Eff Sequence 0 Effective Date 04/01/2014 Eff Sequence 0 Effective Date 03/01/2014 Eff Sequence 0 Effective Date 11/01/2013 Eff Sequence 0 Effective Date 07/01/2013 Eff Sequence 2 Change funding effective 8/01/13 through 6/30/14. Where do I insert the grids? Effective Date 07/01/2013 Eff Sequence 1 Effective Date 07/01/2013 Eff Sequence 0 50

51 Entering a Retro 51

52 Suspense & Custom-Suspense 52

53 Suspense & Custom-Suspense The payroll process is not stopped to resolve funding errors. Funding errors occur when: An employee's funding source has expired. A combo code has been inactivated, but remains as an employee s funding source. Each time Payroll is run, all funding errors are posted to one of the department's suspense combo codes. Every department has a suspense and custom-suspense combo code. F&A funds are used for all of UNCCH and UNCGA, except Athletics 53

54 Suspense Combo Code The suspense combo code is used to fund employees, with one funding source in a department, whose regular funding has ended, and no new funding sources are identified Department # This source is used exclusively for the Suspense combo code. 54

55 Custom-Suspense Combo Code The custom-suspense combo code is used by the department to fund employees: with two or more funding sources in a department, whose regular funding has ended and no new funding sources are identified Department # This source is used exclusively for the Custom-Suspense combo code. 55

56 Posting to Suspense & Custom-Suspense Name Dept. of Genetics (primary) Samantha Brinkley Empl Record Funding Source 1 Funding Source 2 None Genetics Suspense Combo Code Name Dept. of Biochemistry Funding Source 1 Funding Source 2 Samantha Brinkley Empl Record Expired Funding Source Genetics Custom-Suspense Combo Code 56

57 Default Chartfield String 57

58 Default Chartfield String Used to fund department employees who do not have funding sources defined at the appointment or position level. Every department has a default chartfield string. F&A funds used for all of UNCCH and UNCGA Except Athletics, which uses Trust-Athletics Department # Account is used exclusively for Default, Suspense, and Custom-Suspense 58

59 Knowledge Check The Effective Sequence shows you which funding grid is the most recent. The default chartfield string is used for employees with expired funding sources. Retros can be entered back to July 1, ConnectCarolina may not be so bad after all! 59

60 Today we covered: How to use the funding grid Funding information on epar forms The chartfield rules, combo-edit and budget checking processes How to enter a lump sum payment How to enter a funding swap How to enter a retroactive funding swap The default chartfield string, suspense combo code, and custom-suspense combo code 60

61 Logistics 61

62 Consider how your dept. or school will communicate funding information to HR representatives. Chartfield strings will need to include the chartfield name. Will need to tell HR reps if it s necessary to mark the Future Year Budget box. If necessary, will need to provide the amount for Future Year budgets. Provide end dates for OSR funds. And for other funds, if needed 62

63 Parking Lot Visit the ConnectCarolina Training Parking Lot for answers to your questions! 63

64 from ABC Signup with link to the evaluation 10 questions Course Evaluations Goal is to make sure that people are getting what they need from the classes, not to critique the trainers. Do it! 64

65 For More Information 65

66 For More Information Super Trainer (919)