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PeopleSoft User Group May 8, 2013 Finance Impact Department

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Page 1: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

PeopleSoft User Group

May 8, 2013

Finance Impact Department

Page 2: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

User Group Agenda

• Scout Executive Role / User Role Query

• Revised AP Check

• Month End GL Transmittal Process

• General Ledger User’s Guide Update

• Year-End Close Update

– Changes to PeopleSoft year-end close rules

Page 3: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

Conversion Status

• Eight groups converted in 2013 – 88 councils

• Eleven councils here this week

• Total councils on PeopleSoft = 139

• Thirteen groups remain between now and

September 20

Page 4: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

Scout Executive Role

• Being created for security double-check

• Scout executive will have high level roles

• Scout executive will have private query

• Completed by July 1

Page 5: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

Revised AP Check

• Issues

– Check printed on second perforation

– Need additional address lines

– “Pay to the order”

• Repair check form

• Test new form

• Move check to production

Page 6: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

Month End GL Transmittal Process

Page 7: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

• In order for PeopleSoft council data to be

reflected Journey to Excellence the council

must transmit to the national database.

Month End GL Transmittal Process

Page 8: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

Month End GL Transmittal Process

At the point of closing the month, submit balances using the following breadcrumb:

Page 9: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

Create or Search for a Run Control and Click Add

Page 10: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

Enter Business Unit, Fiscal Year, Period

Page 11: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

Process Scheduler Request

Page 12: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

User’s Guide Updates

• Updating content due to some process

changes

• Reorganization of chapters

• Expect to have new Guide available July 1

• Help us improve…

Page 13: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

Year-End Close Rules Update

• Introduced last month

• Multiple councils requested a change in PS

business rule

• Requires change in closing rules and testing

• Currently in testing mode

Page 14: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

Funds 2 & 3 Unrestricted Net Asset Accounts

• Council Reported Issues

– Fund 2 and 3 unrestricted net asset account

balances do not match Scoutnet balances

– Fund 2 and 3 unrestricted net assets class totals

match Scoutnet totals

– In PeopleSoft, some unrestricted net asset

accounts have balances with project codes that no

longer exist

Page 15: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

PeopleSoft Unrestricted Net Asset Closing Rules

– Business rule change in PeopleSoft

– Closing rules do not retain project codes in Fund 2

and 3 for unrestricted net assets

– As a result of historical data conversion (2007-

2011) related entries, some net asset accounts

may have balances with project codes that no

longer exist.

Page 16: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

What Happens

Assets

Periods 0-12

Assets

Period 0

Revenue

Expense

Periods 1-12

Liabilities Liabilities

Periods 0-12 Period 0

Net Assets

Net Assets

Period 0Period 0

Page 17: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

PeopleSoft Closing Rules

Page 18: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

Unrestricted Closing Rules

Page 19: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

Unrestricted Net Assets Closing Rules

Page 20: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

Year End Journal Entry Example

Page 21: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

Fund 2 Closing Journal Entry

Page 22: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

Solution to Correct Fund 2 and 3 Net Asset

Account Balances

– Change closing rules to retain project codes in

Fund 2 and 3 for unrestricted net assets

– Change the net asset adjusting entry rules

– Publish step-by-step instructions

– Councils to make journal entries to adjust net

asset account balances

Page 23: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

PeopleSoft Information Updates

Page 24: PeopleSoft User Group 20130508 - · PDF filePeopleSoft User Group May 8, 2013 Finance Impact Department. ... PeopleSoft Unrestricted Net Asset Closing Rules – Business rule change

For the Good of the Order

• User Guide

• Best practices

• Needs