slide 1 fastfacts feature presentation march 5, 2009 we are using audio during this session, so...
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Slide 1
FastFactsFeature Presentation
March 5, 2009
We are using audio during this session, so please dial in to our conference line…
Phone number: 877-468-2134 Participant code: 182500
© 2009 The Johns Hopkins University. All rights reserved.
Slide 2
Today’s Topic
In today’s session, we’ll discuss:An overview of commitments.
Defining commitmentsUsing document numbers to identify commitmentsResearching commitmentsIdentifying and resolving ‘stuck’ commitments
Slide 3
Today’s Presenter
Art KennedySenior accountant for the Office of Financial Quality Control (FQC) in JHU’s Controller’s Office
Slide 4
Session Segments
PresentationArt will provide an overview of commitments.During Art’s presentation, your phone will be muted.
Q&AAfter the presentation, we’ll hold a Q&A session. We’ll open up the phone lines, and you’ll be able to ask questions. Art will answer as many of your questions as time allows.
Slide 5
Contact Us
If you would like to submit a question during the presentation or if you’re having technical difficulties, you can email us at: fastfacts@jhu.eduYou can also send us an instant message!
GoogleTalk – HopkinsFastFacts@gmail.comAOL Instant Messenger – HopkinsFastFactsMSN – FastFacts@jhu.edu
Slide 6
Survey
SurveyAt the end of this FastFacts session, we’ll ask you to complete a short survey. Your honest comments will help us to enhance and improve future FastFacts sessions.
Slide 7
Overview of Commitments
Slide 8
Agenda
In today’s presentation, we’ll looking at:Identifying various types of commitments.Where to go to find more information on commitments.Tips for researching commitments.
Slide 9
Defining Commitment
What is a commitment?“An engagement to assume a financial obligation at some future date.” (Webster’s Online Dictionary, 2009)
At JHU, commitments might also be called:Encumbrances (legacy CUFS).
Funds Commitments.Funds Reservations.
Slide 10
Helpful BW ReportsBW Saved Favorites (http://www.controller.jhu.edu/H1/index.html)
Non SponsoredFinancial SummaryCommitment Reporting Detail
Sponsored Revenue-Expense SummaryPayroll Commitments / Non Payroll Commitments
DifferencesSummaries provide an overall view, a total for outstanding commitments, and drilldown capability.BW Saved Favorite ‘Commitment’ reports provide details for ALL commitments.
NOTE: Monthly distributed financial detail reports only contain commitments created in that month.
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Non Sponsored - Financial Summary
Slide 12
Non Sponsored Commitment Reporting Detail (BW Saved Favorite)
Slide 13
Types of Commitments
Payroll commitmentsNonpayroll commitments
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Payroll Commitments
These funds commitments are future salary and fringe encumbrances.Payroll commitments have 10-digit document numbers that start with 9.
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Researching Payroll Commitments
Use R3 transaction code FMZ3 (Display Funds Commitment).
Slide 16
Determining PERNRUse FMZ3 to find the PERNR associated with a payroll commitment.
Click Environment, then click Original Document. The PERNR displays in the Object ID field.
Slide 17
Nonpayroll Commitments
Common examplesShopping cartsPurchase ordersTravelOther
Slide 18
Shopping Carts
Shopping carts are funds reservations whose 10-digit document numbers start with 1.
Once they’re approved, shopping carts become purchase orders.This shopping cart appears to be ‘stuck’—a shopping cart with this posting date would normally have become a purchase order by now (February 2009).
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Researching Shopping Carts
Use R3 transaction code FMX3 (Display Funds Reservation).
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‘Stuck’ Shopping CartsAlthough shopping carts can sometimes become ‘stuck,’ departments can usually delete shopping carts they no longer need. Departments should delete unneeded shopping carts, unless a PO has already been created. You can find instructions on deleting shopping carts on Supply Chain’s website (http://ssc.jhu.edu/supplychain/
support.html).FQC can help with further research.
Slide 21
Purchase OrdersAfter a shopping cart has been approved, it becomes a purchase order.Purchase orders are 10-digit numbers that start with 2.
There are various types of purchase orders.Purchase orders for large quantities (BLPO) and extended durations (SPPO) remain open until the final portion of the expense is recognized.
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Researching Purchase OrdersUse R3 transaction code ME23N (Display Purchase Order).
What’s wrong with this purchase order?
Slide 23
Closing Purchase Orders
If you’re sure that a PO should be closed, contact PO Maintenance (pomaintenance@jhu.edu). Your request must include the following.
Purchase order numberVendor nameVendor numberAssurance that no further goods or invoices will be receivedReason for request to close PO
For more information on the ME23N transaction, visit the Supply Chain Support site (http://ssc.jhu.edu/supplychain/support.html).
Slide 24
Travel
Travel commitments are used for business trips commitmentsThe document number and subsequent reference number are also the TRIP transaction number. The first two digits specify the personnel area, and the remaining numbers are based on sequencing.For example, business trip commitments 150xxxxx belong to the Whiting School of Engineering
You can research these commitments using R3 TRIP.
Slide 25
Identifying ‘Stuck’ Commitments
‘Stuck’ commitment – a commitment that will never be used and needs to be removed.Occasionally, commitments (e.g., payroll, shopping carts, purchase orders) become ‘stuck.’
One way to identify these commitments is by the Posting Date.
Slide 26
Identifying and Resolving ‘Stuck’ Commitments
Department’s responsibilityPerform monthly reconciliation of BW financial statements to ensure that expenses have been appropriately charged.If a commitment remains open on your cost object indefinitely, try to determine the problem.Research commitments in R3.
Financial Quality Control (FQC) can assist with research and help you resolve problems.
fqchelp@jhu.edu410-516-3227
Slide 27
In Conclusion
Today’s presentation provided an overview of identifying and researching various types of commitments using R3 transaction codes.It also discussed ‘stuck’ commitments and showed you how to resolve these issues.Although we were using a non sponsored cost object for this session, the same procedures and transactions apply to sponsored programs. Grants cannot be closed with open commitments.
Slide 28
Resources
To determine which roles are associated with the transactions discussed today (FMZ3, FMX3, ME23N, and TRIP), visit:
http://www.jhu.edu/hopkinsone/Support/documents/RoleMatrix.xls
Financial Quality Control – Controller’s Officefqchelp@jhu.edu410-516-3277
Slide 29
Q&AWe’re going to open the phone lines now!There will be a slight pause, and then a recorded voice will provide instructions on how to ask questions over this conference call line.We’ll be answering questions in the order that we receive them.We’ll also be answering the questions that were emailed to us during the presentation.If there’s a question that we can’t answer, we’ll do some research after this session, and then email the answer to all participants.
Slide 30
Thank You!
Thank you for participating!We would love to hear from you.
Are there certain topics that you would like us to cover in future FastFacts sessions?Would you like to be a FastFacts presenter?Please email us at: fastfacts@jhu.edu
Slide 31
Survey
Before we close, please take the time to complete a short survey.Your feedback will help us as we plan future FastFacts sessions.Click this link to access the survey… http://connect.johnshopkins.edu/fastfactssurvey/
Thanks again!
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