urfinancials project...2013/03/20 · • current reporting structure frozen at 6/30/14 • data as...
TRANSCRIPT
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URFinancials Project Demo Days March 20, 2013
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Darren Picciano
For those joining the Webex: • 1) Please access the chat feature at the top of
your screen. • 2) Please chat directly with Darren Picciano
(He will then pose the questions on your behalf)
• 3) Select Darren in the drop down menu in the chat window (do not select “everyone”)
Chatting for WebEx Participants
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Topics
UR Financials project update
The Workday Financial Data Model (FDM)
Demonstrations:
1. Demonstration #1 – Inherited Worktags
2. Demonstration #2 – Create a Journal Entry a. Run a Financial Report for cost center
b. Create a Journal entry
c. Rerun a Financial Report for cost center
d. Drill down into detailed transactions
3. Demonstration #3 - Perform a Pro Rate (allocation) a. Run a Financial Report
b. Run a pro rate (allocation)
c. Review the effects of the pro rate (allocation)
Data Conversion Approach
Reporting Approach
Questions and Answers
Survey
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Disclaimer
The material in this presentation is a first look at some of the design concepts of the UR Financials project. It is preliminary in nature and there is a 99% certainty that the design concepts WILL CHANGE over the course of the life of the project (the next 468 days). Please proceed with caution and use it primarily as “talking points” in discussion with the team.
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Scope
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Our primary focus is the elimination of high-risk financial information systems (FRS)
Team to recommend opportunities for business process improvement
Our implementation will be based on a standard solution where ever possible
There will be opportunities to enhance the Chart of Accounts (COA). Integration of COA back into interfaced systems (111) will be evaluated on a system by system basis
Feedback is encouraged and welcome
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Project Update “Planning Phase” of the project complete
Workday is on site holding design workshops
GATE 1 review was held with IT Leadership and received a “Pass”
Currently “refining” project scope
Like for like functionality (FRS vs. Workday)
Business process improvement opportunities
Workday version 19 came out on Monday. We project that much of our implementation will be locked on version 21 (circa November 2013)
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Workday Financial Data Model (FDM)
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FRS separates each grant, contract, or specific activity as individual accounts within their respective general ledger fund. Sub-ledger (S/L) accounts
are used to record the University's revenues and expenses. Each subsidiary ledger number refers to a specific type of accounts (i.e., ledger 1’s are
income accounts, ledger 2’s are expense accounts, etc.).
FRS Account Number Format
L - BBAAA - SSSS
Sub-
code
Account Id • Used to identify Fund Group and Fund
Value
Ledger number
The FRS account number format is as follows:
L- Ledger Number (0) or Sub-ledger Number (1 to 9)
B - Fund Group
A - Account Identifier (e.g., gift, sponsored program, special purpose, endowment principal)
S - Natural account for transactions
The FRS ledgers are as follows:
Ledger 0 – The University's general ledger accounts start with a 0 (zero)
Ledger 1 – Budgeted Revenue - Income Only
Ledger 2 – Budgeted Appropriations and Expenditures - Expenses Only
Ledger 3 – Self Supporting Activities - Revenue and Expenses Recorded
Ledger 4 – Restricted Endowment - Revenue Appropriations - Expenditures Only
Ledger 5 – Sponsored Research and Other Sponsored Projects Appropriation and
Expenditures- Expenses Only
Ledger 6 – Other Restricted Funds Appropriation & Expenditures - Expenses Only
Ledger 7 – Funds for Renewal and Replacement Appropriations - Expenditures Only
Ledger 8 – NOT USED
Ledger 9 – Agency Funds - Revenues and Expenses Recorded
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Workday FDM “Worktags” The Financial Data Model is the multidimensional structure of Workday accounting and financial reporting. The FRS accounts and attributes will be
captured as “worktags”. Workday uses tags to identify the various dimensions of the business. These tags are called “Worktags” and will form the
building blocks of the new chart of accounts in Workday.
FRS account, sub-code, and attributes
Company
Fund
Cost Center
Grant
Ledger
Account
Spend
Category
Gift
Revenue
Category Worktags
Project NACUBO
Expense Code
(AICPA/ A21)
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Workday FDM “Worktags”
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Workday FDM Examples Here are few examples of how FRS transactions will be captured in Workday.
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Workday Navigation
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Search Box
“Worklet” Active Links
Report Links
Workfeed
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Demonstration #1 – Inherited Worktags (Grant 527695)
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Input Worktag • Grant
Inherited Worktag(s) • Fund • Cost Center
Journal Header
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Demonstration #2 – Run Financial Report (Cost Center 298765)
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Cost Center
Detailed Lines
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Demonstration #2 – Run Financial Report (Cost Center 298765)
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Drillable Amounts
Cost Center Summary
Lines
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Demonstration #2 – Create a Journal Entry
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Detailed Lines
Journal Posting
Message
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Demonstration #2 – Run Financial Report (Cost Center 298765)
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Changed Amount
Cost Center Summary
Lines
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Demonstration #2 – Run Financial Report (Cost Center 298765)
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Report by Period
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Demonstration #2 – Drill Down Into Financial Report (Cost Center 298765)
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Drill Into $27,000
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Demonstration #3 – Run A Financial Report (No Pro Rated Amounts)
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Sender Cost
Centers
Receiver Cost
Centers
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Demonstration #3 – Run A Financial Report (With Pro Rated Amounts)
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Allocations Out
Allocations In
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Data Conversion Strategy
Team recommends converting the following FRS data into Workday:
G/L - 1 years worth (FY14) of month end balance. Posted as a journal entry. Need to determine the level of detail (i.e. FRS account)
Grants – open receivables
A/P – open invoices
FY14 Budgets (for year over year comparisons)
Can start converting July 2013 data in Fall of 2013
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Reporting Strategy:
• Workday = Go-Live and the Future
• Cognos & FRS = Frozen at Go-Live
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Go Live 7/14 Now until 6/30/14
FRS -DW
Cognos & FRS
Workday
• Current reporting structure
frozen at 6/30/14
• Data as of 7/1/14
• 1 Yr. converted data
• Reporting activities
Workday-
DW
Future
• Limited Workday Data
Warehouse
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UR Financials Website
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Home – Current News, Events, etc.
Welcome
Timeline
FAQs
Project Team
Resources – Links to Presentations
Contact Us – Email to project team
Search capabilities UR Financials - Demo Days 3/20/13
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Questions and Answers
Please fill out the survey
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