Preparing for Year End Close: Reviewing Open Transactions€¦ · – For campus journals, the...

1

Preparing for Year End Close: Reviewing Open Transactions

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

Purpose of this Webinar

3

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.

Objectives

4

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

Hands-on training available in April

5

• 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.

6

About Year End in ConnectCarolina

Year-end is approaching

7

• 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

Month-end and year-end close

8

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

Reminder: What happens to transactions at month end

9

For this transaction… This happens at end of month …

Budget journal or transfer Accounting Services deletes or posts them.

Campus journal Accounting Services deletes or posts them.

Any type of voucher Accounting Services rolls them forward to the next month (by changing the accounting date to the new month).

Requisitions and purchase orders

Requisitions and POs are posted in the month they are processed in (which can be a future month).

Deposits and billing entries Deposits are posted in current month.

For year end close …

10

• 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.

Some updates to vouchers …

11

• 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.

For year end close …

12

• 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).

So your goal for year end …

13

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.

Year-end is approaching

14

IMPORTANT: Be sure to start addressing open transactions NOW.

We’ve built some queries to help you do that.

!

15

Identifying TransactionsThat Are Stuck

Three areas where your transactions can get stuck:

16

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)

1

23

Queries for managing transactions

17

Transaction

Purchase Orders

Vouchers

Deposits

Campus Journals (GL)

Requisitions

Purchase Orders

Vouchers

Deposits


Budget Journals

Payroll

Requisitions

Vouchers


Edit error queries

Budget error queries

Approval Worklist queries

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

Queries for managing transactions

18

Transaction

Vouchers

Budget Journals


Vouchers, budget journals, and campus journals in unposted status

Query

NC_AP_UNPOSTED_VOUCHERS

NC_GL_BUD_JRNL_NOT_POSTED_DEPT

NC_GL_JRNL_NOT_POSTED_DEPT1

Transaction

RequisitionsRequisitions in any status

Query

NC_EP_REQ_STATUS

19

Queries for Finding Edit Errors

2020

Transaction

Purchase Orders

Vouchers

Deposits


Edit error queries

Query

NC_PO_EDIT_ERRORS

NC_AP_EDIT_ERRORS_VOUCHERS_DPT

NC_AR_EDIT_ERROR

NC_GL_JOURNAL_EDIT_ERRORS_DEPT

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.

Query Viewer

How to get there:

Reporting Tools > Finance Menu >Main Menu > Query > Query Viewer

21

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

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

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

Edit queries: key fields 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

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.

Voucher statuses:• Complete• Deleted• Modified

• Open• Postable• Recycle

• Scheduled for Payment

25

Fixing the error

26

• Go to the Campus Voucher page.• Enter the voucher ID that the query showed to be in

error and click the Search button.

Fixing the error

27

• Click the Invoice Information tab.

Fixing the error

28

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

Fixing the error

29

• 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.

Fixing the error

30

• Change the appropriate chartfields to correct the error.

• Click the Save button, which checks the chartfield string for errors.

Fixing the error

31

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

Fixing the error

32

• Run the budget check process.

• Click the Submit For Approval button.

Rerun the voucher edit query

33

• Rerun the query until it shows no results.

• Your goal – a blank query!

34

Queries for Finding Budget Errors

Transaction

Requisitions

Purchase Orders

Vouchers

Deposits


Budget Journals

Payroll

Budget error queries

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

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.

35

Queries for finding budget errors

• Enter the name of the budget query.

• Click Search.

36

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

Budget query fields Budget error.See Budget Error

reference for a full list.

Where the voucher was

entered 38

Fix budget errors and rerun the budget query

39

• 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!

40

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

41


• 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.)

Transaction

Vouchers

Budget Journals


Transactions that have not posted queries

Query

NC_AP_UNPOSTED_VOUCHERS

NC_GL_BUD_JRNL_NOT_POSTED_DEPT

NC_GL_JRNL_NOT_POSTED_DEPT1

Transaction

RequisitionsOpen requisitions

Query

NC_EP_REQ_STATUS

• The requisition status query shows the status of all requisitions. Requisitions do not “post”.

42

Recommended practice:

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.


1

2


• Enter the name of the query.

• Click Search.

43


• 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


• Your goal – all transactions should be completed through department approval

45

• 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.

46

Queries for Viewing the Approval Worklist

Queries for viewing the approval worklist

47

Approver ID

• 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.

47

Summary

48

• 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

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

Navigation to finance transactions

50

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

51

References on ccinfo.unc.edu

Combo edit errors

52

Comb Edit Rule Description Message field in query

AFSD_IV Account, Fund, Source, and Department are required on every line. Account/Fund/Source/Dept

ACCOUNT/ CLASS_FLD/

DEPTID/ FU

AF_VI Rule 1Revenue on State funds and all expense lines must have a fund with a Purpose code. The Fund cannot end in “00”, such as 20100 and 21100.

Account/Fund

ACCOUNT/ FUND_CODERule 2

Fund codes 29900, 29910, 29920, or 29930 cannot be used with

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

FUND_CODE/CLASS_FLD

SAP_RQ_VV Rule 1

The Source/Account combination requires a specific Program code.Source/Program/Account

CLASS_FLD/ PROGRAM_CODE/

ACCOU

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.

Document name on ccinfo: Combo Edit Rules

Combo Edit Errors

53


AF_UNIT Foundation business units can only use these funds: 29900,

29910, 29920 & 29930.

Account/Fund

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‘.

Fund/Source


P1_ATH Requires a valid Program/Cost Code 1 combination for

Athletics

Program/Cost Code

SD_ATH_IV Requires a valid Source/Department combination for

Athletics.

Source/Department


SF_VI_BO Budget Only Source/Fund combinations cannot be entered

on Data Collect Batch files.

Source/Fund

DF_VI Budget Only Dept/Fund combinations cannot be entered

on Data Collect Batch files.

Dept/Fund

AF_VI*Falls under the same AF_VI rule above.

Occurs when a Budget Only account is entered on the file.

Budget Only accounts are not allowed.

Account/Fund

Combo Edits for Data Collect Batches only

Combo Edits for Athletics only

Combo Edits when a foundation Business Unit is used

Document name on ccinfo: Combo Edit Rules

Budget errors

54

Less common but could occur

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 boundsNote: Only occurs with OSR projects.

Enter a different chartfield string for an open budget

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

Most common

Document name on ccinfo: Common Budget Check Exceptions

Other references on ccinfo.unc.edu

55

Name of document on ccinfo > Documents

Description

Viewing Voucher Statuses Explains the fields on the voucher page. Useful if you are working on a particular voucher.

Voucher Status Lists voucher statuses, including all the three letter codes for 3rd party voucher interfaces, such as INN for Carolina Inn

Voucher Matching and Error Troubleshooting Query

Lists the match error codes and what they mean

Checklist for maintaining requisitions

Summarizes the guidelines for handling requisitions with errors or any other issue keeping it from being processed*

Checklist for maintaining vouchers

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.

More info about queries

The Training tab of the ccinfo.unc.edu website

http://ccinfo.unc.edu/training/

• Recording of the webinar:

• Preparing for Year End Close: Reviewing Open Transactions

56

57

Q&A

Preparing for Year End Close: Reviewing Open Transactions€¦ · – For campus journals, the...

Documents

Transcript of Preparing for Year End Close: Reviewing Open Transactions€¦ · – For campus journals, the...