ACT101 – Introduction to UNCW Accounting · 2020. 2. 7. · ACT101 – Introduction to UNCW Accounting Business Affairs Finance Certificate Program. Last updated: 2/7/2020. Agenda

ACT101 – Introduction to UNCW Accounting

Business AffairsFinance Certificate Program

Last updated: 2/7/2020

Agenda

• Fund Accounting• Reporting and Inquiry Tools• FOAP – Chart of Accounts• Data Integrity• Wrap-up and Questions• Quiz


Accounting

• The Office of the Controller performs most accounting functions

• Certain level of accountability extended to every department in regards to financial data


What is Fund Accounting?

• Fund Accounting is used mainly for governmental and not-for-profit accounting

• A fund is an accounting entity with a self-balancing set of accounts. Each fund has its own set of revenue and expenditure accounts, as well as assets and liability accounts.

• Why do we use separate funds?– Ensure observance of limitations and restrictions placed on our

resources – Accountability is measured instead of profitability. Fund

Accounting allows us to ensure that resources are being used according to legal and/or other requirements.


Accounting Periods

– An Accounting period is a standard period of time by which financial results are measured

– UNCW Operates on a 12 month, July 1 through June 30, FISCAL year


Period Month Period Month

01 July 07 January02 August 08 February03 September 09 March04 October 10 April05 November 11 May06 December 12 June

14 Accruals

Fund

Money SourceFund Data Entry Range

General funds - Departmental1xxxxx - 18xxxx

Trust - Departmental2xxxxx - 27xxxx

Trust - Overhead28xxxx

Trust - Clearing Accounts299xxx

Auxiliary3xxxxx

Capital Improvement4xxxxx

Contract & Grant5xxxxx

Financial Aid6xxxxx

Endowment7xxxxx

Agendy Funds9xxxxx

UNCW Sponsored Conferences98xxxx

Org

Whose FundsOrg Data Entry Range

Chancellor25xxx - 29999

Academic Affairs30xxx - 34999

Business Affairs35xxx - 39999

Student Affairs40xxx - 44999

Public Service45xxx - 49999

University Advancement50xxx - 54999

Information Technology55xxx - 59999

Unknown60xxx

Account

What is expended/receipted?Account Data Entry Range

Revenues1xxxxx

Expenditures9xxxxx

Fund Balance3xxxxx

Assets4xxxxx

Liabillities5xxxxx

Budget Pools9xxx00

What is expended/receipted?Account Data Entry Range

Expenditure Detail9xxxxx

Budget Pools9xxx00

Prog

Reason for receipt/expenditureProg Data Entry Values

Instruction101

Summer-Term Instruction102

Non-Credit Receipts Supported Instruction103

Organized Research110

Community Services142

Libraries151

General Academic Support152

Student Services160

FY

PeriodMonthPeriodMonth

01July07January

02August08February

03September09March

04October10April

05November11May

06December12June

14Accruals

Sheet2

Sheet3

Reporting Systems

• Banner Production– Real-time activity and balances available within

the Banner System

• Self Service Banner– query only option that returns real time balances

with more parameter options BAN 103 in Finance Training program – Teaches SSB and grants access

• SSRS Reporting Tool– Reporting from a data repository– Pulls data as of end of previous business day


BANNER

– All Accounting data is entered here or feeds from subsystems

• Works, Ushop, Chrome River, etc– Runs accounting processes– Posts transactions to ledger– Allows access to Accounting Data for departments

and managers– Must have specific access to view and process


SSRS Campus Reports

• To access SSRS reports, go to UNCW Faculty/Staff webpage, click on SSRS Web Reports (enter credentials)

• Click “Financial Reports”, then “Campus Reports”, then “FOAPAL Reports”


Useful SSRS Reports• Active Rule Codes

– Useful report listing ALL UNCW Active Rule Codes– Displays rule code and descriptions– Useful when questioning individual transactions to your

funds/accounts– Every transaction has a Rule Code– Rule Codes serve multiple purposes

• Help identify transactions by type• Can be programmed to post to specific funds and accounts,

limiting the need for repetitive data entry

• Funds by Default Org– Displays a list of funds by default Organization Code– Departments may find this report useful when information is needed

at the department or division level about available funding sources


Chart of Accounts

– A list of all funds, accounts, and attributes tracked by an accounting system

– Designed to capture financial information which will be used for reporting, analysis, and decision making

– Consists of assets, liabilities, fund balances, revenues, and expenditures

– Made up of different chart fields


Chart of Accounts

• Chart fields in UNCW’s Chart of Accounts (The FOAP)

–Fund–Organization–Account–Program


FOAP

• Fund (Fund)– Six (6) Digits

– Required for Data Entry

– Numeric designation for a fiscal and accounting entity

– Activity is recorded separately in specific accounts

– Subject to regulations, restrictions, and/or limitations


FOAP-Fund

• Fund Numbering Scheme


Money SourceFund Data Entry

Range

General funds - Departmental 1xxxxx - 18xxxxTrust - Departmental 2xxxxx - 27xxxxTrust - Overhead 28xxxxTrust - Clearing Accounts 299xxxAuxiliary 3xxxxxCapital Improvement 4xxxxxContract & Grant 5xxxxxFinancial Aid 6xxxxxEndowment 7xxxxxAgendy Funds 9xxxxxUNCW Sponsored Conferences 98xxxx

Sheet1

Money SourceFund Data Entry Range

General funds - Departmental1xxxxx - 18xxxx

Trust - Departmental2xxxxx - 27xxxx

Trust - Overhead28xxxx

Trust - Clearing Accounts299xxx

Auxiliary3xxxxx

Capital Improvement4xxxxx

Contract & Grant5xxxxx

Financial Aid6xxxxx

Endowment7xxxxx

Agendy Funds9xxxxx

UNCW Sponsored Conferences98xxxx

Sheet2

Sheet3

General funds

• General funds are used for regular operating/administrative expenses

– Expenses that fall under fund’s scope or business purpose

• Unallowable General fund items• Food• Entertainment• Gifts• Office decorations• Flowers

• Transfer of funds are not allowed in or out of general funds


General funds

• The Controller’s office reviews general fund transactions • P-card team reviews P-card transactions charged to general

funds– Charges must be reconciled in Works and charged to appropriate fund

and account – If charge is inappropriate and has to be moved, holder receives an

infraction– Incorrect charges must be moved via Journal Entry

• Chrome River items reviewed by Chrome River team• General Accounting reviews all general fund expenditures• If you aren’t certain about whether you can use a general

fund for a transaction, contact General Accounting


Banner Fund Establishment

• Banner Fund Setup Form

– As of April, 2014 all fund establishment forms are submitted electronically for approval to a Senior Officer Designee in an ImageNow workflow

– Electronic submission form and instructions can be found on the Controller’s Website http://www.uncw.edu/controller/LinksforForms.htm

– When completing form, it is important to be detailed in the title, purpose , revenue and expenditure fields and include at least two Budget Authorities

– When the form is completed it must be submitted to the Divisional Senior Officer Designee for review and approval. Once approved , the Senior Officer Designee will route it forward in the workflow for processing. The form is also reviewed by the Associate Controller, Tax and the Budget Office before the fund is created in Banner.

– Contact Joanne Ferguson [email protected] or Kim Blankenburg [email protected] for information regarding Fund Establishment


http://www.uncw.edu/controller/LinksforForms.htmmailto:[email protected]:[email protected]

Banner Fund Change• Request for Banner Fund Change

– Fund Change Request Form available online on Controller’s Website http://www.uncw.edu/controller/LinksforForms.htm

– When would I use this form?• Change in fund title• Change in Budget authority or other attributes• Termination of Fund• Inactivate or reactivate fund

– Form must be signed and submitted to General Accounting• Email to [email protected]

– Please note: If you are terminating or inactivating a fund, the fund balance must be ZERO! There can be no encumbrances (ex: unliquidated purchase orders).

– CANNOT BE USED FOR ORG CHANGES• ORG Changes are discussed later in presentation – contact Joanne Ferguson

[email protected] for information regarding org changes


http://www.uncw.edu/controller/LinksforForms.htmmailto:[email protected]:[email protected]

Banner Fund ChangeBusiness AffairsFinance Certificate Program

Preparer and Budget Authority must be different persons Must be signed by Current Budget

Authority

Fund Info-Banner

• You can find more detail about your fund using the BANNER Query screens

• FTIFATA contains information such as:– Who is a budget authority on my fund?

• Budget authority has to sign JE’s, IDI’s, approval travel, etc– Responsible person (which department the fund is

associated with)


FTIFATABusiness AffairsFinance Certificate Program


Hit “GO” Button


Select Fund

Enter Fund Number Hit “GO”

Fund Info-Banner

• FTMFUND contains information such as:• What is the fund’s title?• Is the fund active/inactivate/terminated?• What is the Effective Date of the last change to the fund?• Fund Type • Default Org• Default Prog

• Effective Dates of Records– Most current record displayed– There can be multiple records for any one fund


Banner Screen FTMFUNDBusiness AffairsFinance Certificate Program


Select Filter

FOAP-Org

• Organization (Org)– Five (5) Digits

– Represents the Division, School, and Department

– Will default in Banner and most subsystems based on the FUND you enter


Org Changes

• Requests for Organization Code changes require special attention– Must be requested through the Org Committee– Guidelines on Controller’s website must be followed– Procedures, information and forms located here:

• http://www.uncw.edu/Controller/OrgCommitteeInfo.html

– Contact Joanne Ferguson at [email protected] for information regarding Org Changes


http://www.uncw.edu/Controller/OrgCommitteeInfo.htmlmailto:[email protected]

FOAP-Account

• Account (Acct)– Six (6) Digits

– Required for Data Entry– Numeric designation for an individual asset, liability,

fund balance, revenue, or expenditure account classifications

– Important part of classifying and reporting on specific activity

• If unsure about which account to use, look at Data Dictionary or contact General Accounting


Account-Data Dictionary

• The Data Dictionary• Available on the General Accounting Webpage under “Fund and

Account Information” http://uncw.edu/genaccoun/fundandaccount.html

• Complete list of all Revenue and Expense account codes available in Banner

• Definitions for each Revenue and Expense account code• ACT 105 in the Finance Training Program – detailed instruction on

account codes and using the Data Dictionary


FOAP-Account

• Account Numbering Scheme– Revenues: 1XXXXX– Expenses: 9XXXXX


FOAP-Account

• Budget Pool Accounts• Budget Pools- Budget Entries ONLY

– Account code 9xx000– No actual expenses can be posted to Budget Pool Accounts– Can only do a budget adjustment


Banner Account Info

• Operating accounts

– Revenue and Expenditures– Found on Banner screen “FGIBDST”

• Reflect year to date activity• Reflect current budgets

– At fiscal year-end, balances are rolled up into Fund Balance.


Banner Screen FGIBDSTBusiness AffairsFinance Certificate Program

Banner Account Info

• Balance Sheet Accounts

– Asset, Liability, and Fund Balance accounts– Found on Banner screen FGITBAL– Reflect current account balance

• Balance sheet accounts are continuous; they roll over year to year


Banner Screen FGITBALBusiness AffairsFinance Certificate Program

Banner Account Request

• Requests for account setup should be submitted to Keith Westcott at [email protected]

– Purpose of Account• Provide a detailed description of the type of account you are requesting, including

details about what types of revenues or expenses are going to be recorded in the account

Always refer to the Data Dictionary here http://uncw.edu/genaccoun/fundandaccount.htmlto be sure there is not an existing account code to fulfill your needs


mailto:[email protected]://uncw.edu/genaccoun/fundandaccount.html

FOAP-Program

• Program (Prog)– Required for Data Entry– Three (3) Digits– Numeric designation for group activities, operations or

other units directed to attaining specific purposes or objectives.

– Defined by National Association of Colleges and University Business Officers (NACUBO) standards.

– Will default in Banner and most subsystems based on the FUND you enter


Mission Funds

• Mission funds– Funds to pay for gift cards to give to research

participants– Custodian will request fund from general accounting

• Fund to be charged• Email approval from budget authority to charge fund• Email from custodian that he/she understands guidelines

– Gift Cards• Given to research participants and sign that they have

received • If cards aren’t given out, cash or check must be returned to

General Accounting (deadline is in mid-June-no exceptions)


Foreign Wires

• If wiring money to a foreign entity, you will need to fill out a wire request form– Available on General Accounting website

• Sample on next slide


Wire Request formBusiness AffairsFinance Certificate Program

Financial Reporting & Data

• What do we do with all our financial data?– Management Reporting– Budget Reporting – Annual Financial Reports– Reporting to State, Federal Govt and other

stakeholders


Financial Data Integrity

• Importance of Audit Trails (Supporting documentation)

– Analysis of decisions, purchases, payments– The ability to retrace steps all the way to source documents– Answer questions arising from audits– Easily demonstrate and/or justify previous transactions

– Data integrity– Ensure financial position is accurate– Activity within funds in correct– Compliance with State, Federal, and University policies


Financial Data Integrity

• Why so many rules?• UNCW Guidelines• State Guidelines

– OSC, OSBM, NC State Treasurer, General Administration

• Federal Guidelines

• The importance of Accuracy– Employees, departmental managers, Senior Mgt and state agencies

rely on detailed and combined financial data for:• Determination of Budgets• Decisions about current and future projects• Feasibility studies• Performance evaluation• Financial activity analysis


Contact info

• Who do I call/email if I have questions?– Kim Blankenburg, General Accounting Manager

• [email protected], X27423– Angie Downing, Accounting Specialist

• [email protected], X23148– Karen Headrick, Accounting Specialist

• [email protected], X23150


mailto:[email protected]:[email protected]:[email protected]

ACT101 – Introduction to UNCW AccountingAgendaAccountingWhat is Fund Accounting?Accounting PeriodsReporting SystemsBANNER SSRS Campus ReportsUseful SSRS ReportsChart of AccountsChart of AccountsFOAPFOAP-FundGeneral fundsGeneral fundsBanner Fund EstablishmentBanner Fund ChangeBanner Fund ChangeFund Info-BannerFTIFATAFTIFATAFTIFATAFTIFATAFund Info-BannerBanner Screen FTMFUNDBanner Screen FTMFUNDBanner Screen FTMFUNDBanner Screen FTMFUNDFOAP-OrgOrg ChangesFOAP-AccountAccount-Data DictionaryFOAP-AccountFOAP-AccountBanner Account InfoBanner Screen FGIBDSTBanner Account InfoBanner Screen FGITBALBanner Account RequestFOAP-ProgramMission FundsForeign WiresWire Request formFinancial Reporting & DataFinancial Data IntegrityFinancial Data IntegrityContact info

ACT101 – Introduction to UNCW Accounting · 2020. 2. 7. · ACT101 – Introduction to UNCW Accounting Business Affairs Finance Certificate Program. Last updated: 2/7/2020. Agenda

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