What's New With FAST 3.6?

What's New With FAST 3.6?

Introduction to.. Company LOGO Agenda Whats in your Training Package? Understand Aurora Finance and its suite of software available Gaining access to Aurora Finance and Security Use the FAST Tool for financial reporting needs Navigate within BANNER What is Aurora Finance? Aurora Finance is the University of Manitobas fully integrated suite of

administrative application software for financial management. Every accounting transaction and associated detail is recorded and reported within the system There are 5 primary Financial Applications BANNER Administrative Forms FAST (Financial Administrative Support Tool) Travel & Expense Management System EPIC

Financial reporting, budget transfer and external invoice tool Concur Core systems for Finance and Student information (G/L) E-Procurement system for purchases & payments UMPlan

Planning and Budgeting tool Aurora Finance Customer Service Aurora Finance Customer Service provides Customer Service, Access & Training for the Aurora Finance financial systems . Aurora Finance Training Banner & FAST Training

Introduction to Aurora Finance Aurora For Researchers BANNER Navigation Fundamentals Journal Entries & Interdepartmental Charges (JEs & IDCs) Advanced FAST External Invoicing (FAST A/R) Budget Transfers Concur Travel and Expense Management

EPIC Introduction to EPIC EPIC After the Order EPIC Contracts How many certificates can you achieve? System Overview U of M Finance Terminology

The Chart of Accounts is a series of codes used to account for every financial transaction that occurs at the University. The Universitys new Chart of Accounts consists of six elements commonly referred to as a FOAPAL. The acronym is broken down as follows: F Fund 6 digits O Organization 6 digits

A Account 6 digits P Program 4 digits A Activity 6 digits

L Location 6 digits U of M Finance Terminology Fund Used for identifying the source of funds. Examples are Operating, Research, Endowment, etc. Organization Identifies who spent the money. Usually a unit of budget responsibility and/or department(s) within an institution. This can be a faculty, school, department or administrative unit.

Account Identifies what the money was spent on, the type of revenue, and also used to define assets and liabilities. Program Classifies the revenue or expense as defined by the purpose of your Unit or Grant. Activity Used to define unique activities such as Campus Beautification Day, Emergency Preparedness activities, etc. Location Optional in Aurora and cannot budget by this category. Primarily used by, but not limited to, the Fixed Assets module. U of M Finance Terminology

FOPWhat is a FOP? FUND (6 digits) Identifies the source of funding eg: Operating, Research, Endowment ORGANIZATION Who spent the $$? Identifies responsibility. (6 digits) eg: faculty, school, department, unit PROGRAM (4 digits) Classifies the expense or revenue according to purpose/function eg: Instruction, Research, Support etc.

FOP: What is it? FOP Examples 120012 333000 1100 Startup Forestry Academic K. Smith Dept Expense 300236 333000 2000 MB Conservation Grant

Forestry Dept Revenue U of M Finance Terminology What is a FOAP? Additional code is the ACCOUNT which details what the funding was spent on or where the funding came from. Examples: Revenue 562001 Federal Grant Revenue 564001 Province of MB Grant Revenue Payroll

63210 Research Associate Salary 68000 Employment Insurance Expenditures 706107 Lab Equipment <$2500 726411 Scientific/Research Equipment >$2500 U of M Finance Terminology FOAP Examples 120012 Startup K. Potter - 333000 - 706105 Forestry

Dept Chemicals 300236 - 333000 - 66201 MB Conservation Grant Forestry Dept

PT Student Support Casual - 1100 Academic Expense - 2000 Sponsored Research Expense

U of M Finance Terminology What is a FOA? Excludes the Program code identifying the purpose of the Unit Used only in UM Plan for planning and budgeting Example: 300236 - 333000 - MB Conservation Grant Forestry Dept

66201 PT Student Support Casual The FOAP All FOAP elements are built into a hierarchy Used to facilitate financial reporting Upper levels of the hierarchy referred to as levels, predecessors or types Last level of the hierarchy referred to as data enterable level

The FOAP Fund Helpful Hints: Funds are built into a hierarchy to facilitate financial reporting Most popular funds are: Name Fund Type Unrestricted Operating Funds Internally Restricted Operating Funds Research Grants 01 11 28, 30

Data Entry Prefix 1 12 3 The FOAP Accounts are broken down into 8 different Account types: 10Assets 20Liabilities 30 Control Accounts (never used for data entry) 40Fund Balance 50Revenue 60 Salaries and Benefits 70 Non Salary Expenditure

80 Fund Transfers The FOAP Main account types you will use are : Name Revenue Salaries & Benefits Non Salary Expenditures Account Type 50 60 70 Data Entry Prefix

5 6 7 Salaries & Benefitsdata entry level is 5 digits All other accountsdata entry level is 6 digits The FOAP Impact of Account Codes: The FOAP Why are Organization & Program codes important? RESEARCH EXPENSE BY FACULTY (Total $132.6 Million) Medicine; 69.2 Environment, Earth & Resources; 7.7

Science; 11.7 Graduate Studies; 3.9 Engineering; 8.9 Arts; 4.7 Other; 11 Agricultural & Food Sciences; 15.5 FOAPAL: What is it? Addition of 2 other elements: Activity= Used to define unique activities to the University (e.g. Pandemic planning, flood preparation activities) Location = Primarily used, but not limited to the Fixed Assets module identifies location of capital assets (e.g. 404A Administration Bldg)

Aurora Finance Security Gaining access to the University Financial Systems Complete the Aurora Finance Systems Access Request form Identifying which systems access is required Indicating if a user needs to create transactions and/or report on FOPs, FOAPs, or FOAPALs ie. Journal Entries, ID Charges, Budget Transfer Different access required for support staff type role and a Researcher

Aurora Finance Security Access is based on what Funds and Orgs a user is responsible for Example: o Employee who needs Deans Office Agriculture will have access to: o Fund 110000 (Operating Fund) and o Organization 312000 (Deans Office) Access can also be given according to a fund/org hierarchy for example: o Fund Type 11 o Fund Type 28 o Org pred 3440 Aurora Finance Security Type of Access

Query & Posting capability OR Query only OR Posting only Aurora does not provide security over the Account (FOAP) element any user can view and post to all accounts (including salaries) FAST FAST: What is it? Financial Administration Support Tool

Houses 3 applications Accounts Receivable Budget Transfers Finance Reporting FAST Dynamic, web-based budgeting and reporting tool Downloads data from Banner, stores it in FAST database and presents financial information in an easy-to-read and understandable format Updates every morning

Check Budget Available Exercise Determine the amount available to spend on a FOAP and find detail on a transaction: View the Expenditures Only report, as follows. At the Main Menu, leave blank to see all FOAP combinations you are authorized to see. Select the Fiscal Period January 2018 Select the Expenditures Only Report from the Report drop-down list. Select ENTER to generate the report. View the Budget Available column total. Drill down on the Unrestricted blue hyperlink 110 until you get to the desired level of detail for org 312200, Animal Science Find account code 706003 and click on the amount $193.66 Find Invoice # I1746116 for $165.43, click on the document to find the description of what the amount was for.

Budget Checking Something to remember: Budget Checking occurs for the combined FOP upon creating entries against the FOP Account is ignored which allows you to be overspent in one account (e.g. Printing) and under spent in another (e.g. Telephone, Equipment rental) Budget Example overspent under spent overspent Banner Finance Aurora Finance Module

Module Form Structure of Banner Form Key Block Info Block Record Form Acronym Grant Code Inquiry Form FRIGRNT

o F Financial System o R Research Account Module o I Type of Form Query or Informational o GRNT shortened version of form name Form Acronym Fund Organization Responsibility Tracking FYMFORS o Use to query signing authorities on a fund, for a department/organization code Signing Authorities There are several types of signing authority or responsibility that can be provided to an employee of the University of Manitoba for each FOP or FA combination. The types that exist are:

PS Primary Signing Authority The person ultimately responsible for the FOP or FA, also known as the principal investigator of a grant. Only one person per FOP or FA combination. AS Alternate Signing Authority An employee who has been given the authority by the PS to sign off on expenditures for the FOP or FA combination. PM Payroll Mail Person who will receive all payroll related printed materials. Only one person per FOP or FA combination. No signing authority rights. VR VIP Report Access Person responsible for running the VIP payroll reports for the FOP or FA combination. No signing authority rights. FS Financial Services Responsibility The accountant in Financial Services responsible for the FOP or FA combination. http://umanitoba.ca/admin/financial_services/budgrant/signing_authorities.html Summary

Aurora Finance is the suite of University of Manitobas financial systems Chart of Accounts is comprised of the FOAPAL elements Access to Aurora Finance and understand basic security rules Use the FAST Tool for financial reporting needs How Navigation within BANNER works Assistance Need additional support? Aurora Finance Customer Service Desk for system & process support at 204-480-1001 or [email protected]

Visit the Aurora Finance website http://umanitoba.ca/computing/renewal/aurora/finance/index.html Aurora Chart of Accounts Online Help FAQs Manuals/Guides and more! ASK Aurora! Sessions

Subscribe to our client email list! http://umanitoba.ca/computing/renewal/ aurora/finance/subscribe_to_list.html Questions Thank you! Company LOGO

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