Financial Supply Chain ManagementMFN1006 - Budget

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Course Summary This course provides an introduction to budget and general ledger transactions in MDConnect

Audience: All employees who will perform budget transfers, budget journals and journal entries in MDConnect

Training Material PowerPoint and Job Aids

Trainer/Contact: MDConnect@mdc.edu

Version Date: July 14, 2016

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Classroom Guidelines

Complete training sign-in

Silence cell phones

Complete post-training evaluation

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Upon completion of this course, you should be able to:

• Understand the overall concept of a budget

• Understand how to view your budget detail or summary

• Download your budget to an excel spreadsheet

• Understand Key Process Changes for Commitment Control (KK) and General Ledger (GL)

• Understand Budget Transfers

• Understand Budget Journals

• Understand Journal Entries

• Approve transactions using worklists

Agenda

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Key Process Changes and Impacts

• View expense, revenue and pooling balances in one screen

• No budget at pooling level, only one level per expense type (500, 600, 700)

• Multiple ledgers. Expense, pooling and revenue are displayed separately

• Pooling accounts will have a budget that will match sum of all accounts in pooling group. Pooling accounts are budgetary only. No expense transactions will be allowed at this level. Multiple categories of pooling within expense type

Current Process New Process

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Use the Budget Overview (Inquiry) to enter budget criteria to retrieve budget data for display on the Budget Overview page.

Navigate to: Main Menu > Financials > Commitment Control > Review Budget Activities > Budget Overview

Budget Overview

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In the Chartfield Criteria section, under Chartfield From Value, delete the % sign, then enter the needed value e.g. Dept (700060), and Oper Unit, ICS (it could be a specific or defined range (e.g., 6xxxxxxx – 6xxxxxxxx).

Budget Overview

Specific or

defined range

Click the Save button.

NOTE: If % sign

is not deleted,

all valid values

for the specific

Chartfield will

display

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Click the

Search button

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Ledger

GroupDescription

KK_BUDG_1Do not use for

Transactions

KK_BUDG_2Used for Expense

Accounts Only

KK_REVUsed for Revenue

Accounts Only

MD_PRJCDo not use for KK

transactions

MD_PRJPDo not use for KK

transactions

For Budget

Expense select

Ledger Group:

KK_Budg_2

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Ledger groups suggestions to better manipulate search:

• KK_Budg_1, is used to see available budget at high level within pooling groups

• KK_Budg_2, is used to see budget details at the expense account

• KK_Rev, this ledger is used to see available revenue

• PRJC and PRJP are used to see available budgets in grants and capital projects

• DETAIL BUDGET PERIOD – used to see from beginning of the fiscal year to present

• DETAIL ACCOUNTING GPERIOD – used for monthly overview activity

• The system will default to DETAIL BUDGET PERIOD

Budget Overview, Contd.

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Chartfield criteria, suggestion to better manipulate search:

• Department and ICS could identify a unique string without having the need to populate other chartfields.

• Account chartfield could be populated with a 6%. The “6” being the first digit of the operating expense account, and % sign to display all accounts within group.

• The % sign on its own will bring all valid values within the chartfield, this will be good as well.

• If you enter the department and leave everything with % sign, all budgets, restricted and non-restricted accounts fields will populate.

Budget Overview contd.

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Budget Overview

Click on the Search button: The

Budget Overview results will be

displayed

Click on the icon to download your

budget into an excel spreadsheet

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Budget Overview results can be downloaded as an Excel spreadsheet.

Max search is defaulted to 100, if

message appears for more rows,

enter 99999 and search again

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You can manipulate the data however necessary for review in Microsoft Excel.

Budget Overview

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Key Process Changes and Impacts – Commitment Control

• Budget Transfers can be one-sided or two-sided

• Rules exist to control restricted funding and transfer between funds is not allowed

• One-sided Budget Transfers are budget journals, two-sided budget transfers are Budget transfers

• No rules exist between budget lines. If transfer is between funds, Business Affairs will reject the request

Current Process New Process

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Budget Transfer is used to create a two-sided transfer of funds.

Navigation: Main Menu > Financials > Commitment Control > Budget Journals > Enter Budget Transfer

Budget Transfer

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Budget Transfer

Business Unit, Journal

ID and date will

automatically populate

Budget Header page

will automatically

populate budget

header information

These optional steps allow you

to enter additional description

and attach supporting

documentation

After entering all required

information in Budget Header

page click “Budget Lines” tab

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Click the Add

ButtonBudget Entry Type

and Parent Budget

Entry Type should be

the same

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Budget Transfer

Scroll right to

access other

fields (see

below)

Enter

Chartfield

values

Enter the

number of

lines to be

added and

click the “+”

button

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Do not use Set

Options or change

Currency2continued

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Budget TransferJournal ID number

will populate

Click the *Process drop-down

and select “Edit Chartfields”

• Click the Save button, Journal ID will populate

• Click *Process dropdown and chose “edit chartfields” to verify chartfieldvalues are correct

• Click Process button, if budget header status is “None”

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Budget Transfer

• If no error occurs, click the *Process dropdown again and chose “Budget Pre-Check” to check fund availability

• Click “Yes” to the pop-up question, “Do you want Budget Check this transaction without posting the results?” and click the Process button

• Budget header status will change to “Checked Only”

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Budget Transfer

• If no error occurs, click “submit journal” from *Process drop-down and click Process button

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Budget Transfer

• Approver Header Status will change to Pending

• Click the “pending” link for an approval workflow status

• Budget transfer has been sent for approval

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Budget Journal is used to create a one-sided transaction.

Navigate to > Main Menu > Financials > Commitment Control > Budget Journals > Enter Budget Journals

Budget Journal

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After selecting “Enter Budget Journal”, the rest of the steps are identical to a “Budget Transfer.” The differences are:

• A budget journal is a one-sided entry

• Budget journals do not have to balance

Budget Journal

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Key Process Changes and Impacts – General Ledger

• Memo to Business Affairs requesting transfer of expense

• Electronic journal entry requesting transfer of expense

Current Process New Process

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A journal entry is used to transfer expenses.

Navigate to > Main Menu > Financials > General Ledger > Journals > Journal Entry > Create/Update Journal Entries

Journal Entry

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Journal Entry

Business Unit, Journal ID

and date will automatically

populate

Click the Add

Button

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Journal Entry

The attachments link allows you to

attach supporting documentation.

The number shows how many files

are attached

Leave blank Source

will always

be “ONL”Can be

populated with

information

Leave

blank

Always be

“General”

Field will

populate to

current date

links are

not used

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5

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After entering all

required

information in

Header page click

“Lines” tab

Leave

blank

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Use the Lines page to record the transactions for the Journal Entry.

Journal Entry

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Use the Lines page to enter the Chartstring.

Journal Entry

1 Operating Unit Field

2 Fund Field

3 ICS Field

4 Department Field

5 Campus/Ctr Field

1 2 3 4 5 6 7 8 9

6 Account Field

7 Course Field

8 Bud Ref Field

9 PC Bus Unit Field

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The Lines page scrolls across three screens; fill in the necessary information.

Journal Entry

Scroll right

After the journal

lines have been

entered, click Save

Enter the

number of lines

to be added and

click the “+”

button

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The Lines page scrolls across three screens.

Journal Entry

From the *Process

dropdown select “Edit

Journal” and then click

the Process button

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Both Journal Status and Budget Status have changed to “V” for valid. This means that the journal has passed budget checking and is ready to be sent for approval.

Journal Entry

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The journal has been sent for approval. A Journal Approval path should appear.

Journal Entry

Click on the Approval tab, then

click Submit

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Navigation: Main Menu > Financials > Worklist > Worklist

Approving Budget Transfer, Budget Journal and Journal Entry

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This is the list of pending transactions requiring your approval.

• Approvers will be able to click the transaction link to review and approve Journals

• Requestors Worklist will only display transactions, they will have to use the Journal ID number and go to the Find Existing Journal navigation page

Worklist

Click on the link to

view transaction

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Review the pending transaction and approve.

Worklist

Click Control Budget

Transfer Page link to see

the actual journal to

review.

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Navigation: Main Menu > Financials > Commitment Control > Budget Journals > Enter Budget Transfer

Requestor – Find Existing Journal

Click on the Find an Existing

Value tab

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Enter the Journal ID in the Journal ID field and click “Search.”

Requestor – Find Existing Journal

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Navigation: Main Menu > Financials > General Ledger > Journals > Journal Entry > Create/Update Journal Entries

Requestor – Find Existing Journal

Click on the Find an Existing

Value tab

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Enter the Journal ID in the Journal ID field and click “Search.”

Requestor – Find Existing Journal

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MDConnect Website is the central location where you can find training material and other resources.

Navigate to: MDConnectinfo.mdc.edu > Training

ONLINE TRAINING - USER PRODUCTIVITY KIT (UPK)• UPK is a tool provided by PeopleSoft which provides step-by-step instructions

on creating and entering transactions in MDConnect• You may access the UPK library here:

– https://mymdupk.oracleoutsourcing.com/UPK/data/toc.htmlNOTE: Processes will be listed, please click the plus sign to expand the topic.There are several different ways to see a process:

MDConnect Help