IUIE Financial Reports

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IUIE Financial ReportsVPCFO TRAINING & COMMUNICATIONS

Agenda Review of report-related terminology. IUIE overview. Current Balances. Activity 1. 5-minute break. Detail Transactions. GL Budget Analysis. Activity 2.

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Learning objectives Navigate in IUIE. Successfully run three IUIE reports:o Current Balances.o Detail Transactions.o GL Budget Analysis.

Select the most appropriate IUIE report to run in a given scenario.

Interpret the data presented in an IUIE report.

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Terminology review

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What is the General Ledger (GL)? The official repository of IU’s financial and budget

information. Stores detailed records of all financial

transactions. When an e-doc reaches final status, it is recorded

to the GL and affects balances. The basis for IU’s financial reports.

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What is the financial decision cycle?

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General Ledger

ReportE-doc

What is a budget? A plan for how resources will be used. Budgets at IU are built using object codes.

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Base Current

What are actuals? The total of all actual activity for a given balance

line of the selected fiscal year. Transactions that have posted to the General

Ledger.

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What are encumbrances? Amounts set aside to cover future anticipated

expenses.

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External Encumbrance (EX). Internal Encumbrance (IE). Pre-Encumbrance (PE).

Expense Variance

Current Budget– Actuals– Encumbrance

Variance

What are variances? The amount of funds remaining (either to spend

or to earn) for the fiscal year.

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Income Variance

Actuals– Current Budget

Variance

IUIE overview

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IU Information Environment Enterprise-wide, web-based operational reporting

system. Maintained by Decision Support Services (DSS). Collection of reports that allow users to access

IU’s institutional data, including financial data. Must be added to the KFS Labor Reports group to

access financial reports.

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Characteristics of IUIE reports Data is current as of the previous day. Data only includes finalized transactions. Reports can span multiple FYs and/or multiple

accounts. Search parameters and result fields are highly

customizable.

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Common report types Predefined Query.o Commonly-requested data.o Limited search fields and predefined results.

Data Group.o Highly customizable.o Many search fields and flexible results.

Linked Reports.o Reports hosted on an external website.o Listed in IUIE for convenience.

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Common IUIE reports Current Balances. Detail Transactions. GL Budget Analysis. General Ledger Balance. GL Actuals. July 1 General Ledger Budget. Fiscal Approvers’ Voucher Audit Report. Object Code Listing.

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Current Balances

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Current Balances query Predefined IUIE query ( ). Used to check the status of an account. Displays cumulative balances for an account,

listed by object code.o Only income and expense object codes are included.

Includes budget, actual, encumbrance, and variance data.

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Current Balances example report

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Demo: Current Balances query

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https://one.iu.edu“IUIE” or “IUIE Reports”

Activity 1CURRENT BALANCES

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Question 1Use the Current Balances query in IUIE to answer the following question as though it is FY19.You are the Fiscal Officer for the Indianapolis English department. You want to compare the current and adjusted base budgets for object code 4080 (Teaching Supplies) in the 12-922-00 account. What is the difference between the two amounts?

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Base: 0.00. Current: $418.87

Question 2Use the Current Balances query in IUIE to answer the following question as though it is FY19.The Office of International Services, a University Administration department, had an unplanned expense of $5,323.17 on object code 5211 in their 23-111-17 account. Was the $5,323.17 expense charged to a sub-account within 23-111-17? If so, which one?

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Yes – ADMIN.

Question 3Use the Current Balances query in IUIE to answer the following question as though it is FY19.You are the Fiscal Officer for Biology on the Bloomington campus. You know you spent a total of $710.00 on Parking Fees (object code 4210) on one of the 10-246 accounts you manage, but you can’t remember which. Run a report to identify where the $710.00 of expenses booked.

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10-246-01.

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Break

Detail Transactions

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Detail Transactions Data group ( ).o Users can set very specific search parameters.o Users can select the columns to display in the report.

Used to review transaction history. Displays General Ledger entries. Can return results across:o Multiple fiscal years.o Multiple accounts.

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Demo: Detail Transactions

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https://one.iu.edu“IUIE” or “IUIE Reports”

GL Budget Analysis

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GL Budget Analysis Predefined query ( ). Used to verify the accuracy of salary expenses vs.

salary budget. For each position, displays:o July 1 budget.o Adjusted budget.o Calculated Salary Foundation (CSF).o Variance.

Salary is 67% of IU’s expenses, so it’s important to make sure it’s budgeted.

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“Summary” report type

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“Detail” report type

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Next Steps

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Either adjust the budget during budget construction (spring to early summer) or submit a Budget Adjustment (BA) doc

Refer to University Budget Office for questions

Activity 2WHICH IUIE QUERY?

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Question 1Answer the following question as though it is FY19. You work in the Office of International Services. Your Fiscal Officer asks you how many Internal Billing documents (document type code “IB”) have booked to the 23-111-17 account. How many were there? What query did you use the find the answer?

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Detail Transactions; 2 IBs and 2 offsets.

Question 2Answer the following question as though it is FY19. It is your responsibility to make sure that all salaries on the IU East campus are appropriately budgeted. How many positions on the 03-686-00 account do not have enough budget to cover the salary commitment? What query did you use to find the answer?

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GL Budget Analysis; 14.

Question 3Answer the following question as though it is FY19. You are Kelley School of Business’ Fiscal Officer. You know that, due to a recent transaction, your Printing & Duplicating budget (object code 4166) has a negative variance on the 10-366-00 account. You think the Copy Machine expenses (object code 4110) are under budget, but you need to make sure. Is there budget under object code 4110 to cover the negative variance on object code 4166? What query did you use to find the answer?

39Current Balances; yes, with $1,141.70 left over.

Question 4Answer the following question as though it is FY19. You are an administrative assistant for Bloomington Athletics. You want to understand how much you’ve spent on Hospitality Expense (4025) on the P-Card (doc type PCCR) with account 60-274-45. How much did you spend? What query did you use to find the answer?

40Detail Transactions; $780.92.

Wrap-up

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Next steps Sign up for the financial reports trainings again in

3-12 months. Review your reference guides. Attend additional VPCFO trainings:o Intro to Financial Reportso Common KFS Documents

Subscribe to VPCFO Communications

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Resources VPCFO Training Documentation Library. IUIE resources on the UCO website:o Auxiliary Accounting.o Capital Assets.o Non-Student Accounts Receivable.o Payroll.

UCO Customer Service. UITS IT Training: IUIE Reporting Basics and Excel

2016: Formatting and Analyzing IUIE Data.43

Training evaluation Let us know what you thought!o https://go.iu.edu/fineval

You will receive an email this afternoon with a link to the survey.

Feedback is anonymous.

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