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Month End
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Contents
1. Introduction 3
2. Purchasing2.1 Month-End Guidance 5
2.2 Open Purchase Order Report (UFS) 5
2.3 Cancelling/finally closing purchase orders 10
2.4 Returning goods on the system 10
3. Accounts Payable3.1 Month-End Guidance 11
3.2 Supplier Statement Reconciliation 11
3.3 Invoice Register (UFS) 153.4 Invoice on Hold Report (UFS) 16
4. Accounts Receivable
4.1 Overview of Accounts Receivable, Internal Trading & Banking 184.2 Month End Guidance 18
4.3 Incomplete Invoices report 19
4.4 Unapplied Receipts Register 21
4.5 Ageing 7 Buckets By Account (UFS) 22
5. Inventory5.1 Month-End Guidance 24
5.2 Inventory Value Report 24
5.3 Material Account Distribution Detail report 25
6. Fixed Assets6.1 Month End Guidance 27
6.2 Departmental Fixed Asset Report 27
6.3 Asset Additions Report (UFS) 28
7. Grants7.1 Month End Guidance 30
7.2 Expenditure posted to Dummy Suspense grants 30
7.3 Reviewing Funds check failure 31
7.4 Unposted Pre-approved Batches 31
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Appendices Examples of ReportsA Open Purchase Order Report UFS 42
B Unapproved Invoice Register CAPSA 44
C Invoices on Hold Report (CAPSA) 45
D Incomplete Invoices Report 46
E Unapplied Receipts Register 47
F Ageing- 7 Buckets-By Account Report 48G Inventory Value Report 49
H Material Distribution Detail Report 50
I Departmental Fixed Asset Report 51
J Annual Additions Report (UFS) 52
K Budget Comparing to Actual Report (CAPSA) 53
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1. Introduction
This reference manual is designed to complement the Month-End Procedures published
in Chapter 10 of the Financial Procedures Manual.
It expands on these guidelines and includes for each of the reports detailed:
Their purpose How to run them
Guidelines on interpretation Subsequent action that may be requiredIncluded in the Appendices is also an example of each report with some further pointers
regarding interpretation. An electronic version of this manual is also available at:
http://www.admin.cam.ac.uk/offices/finance/training/manuals/
It is designed so that users have the choice of either downloading the whole manual orjust the guidance relating to a particular module. If you experience any problems with
the download please contact the Finance Training Team on extension 66631.
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Module Report Name When to run?
PURCHASING Open Purchase Orders Report (UFS) QuarterlyBefore the 4th working day
ACCOUNTS
PAYABLEInvoice Register (UFS) Monthly
Before the 4th working day
ACCOUNTS
PAYABLEInvoice on Hold Report (UFS) Monthly
Before the 4th working day
ACCOUNTS
RECEIVABLEIncomplete Invoices Report Monthly
Before the 4th working day
ACCOUNTS
RECEIVABLEUnapplied Receipts Register Monthly
Before the 4th working day
ACCOUNTS
RECEIVABLEAgeing 7 Buckets By Account
Report (UFS)
MonthlyBefore the 4th working day
INVENTORY Inventory Value Report (UFS) MonthlyAfter the 4th working day
INVENTORY Material Account Distribution DetailReport (UFS)
MonthlyBefore the 4th working day
FIXED ASSETS Department Fixed Asset Report (UFS) QuarterlyAfter the 8th working day
FIXED ASSETS Department Asset Additions Report
(UFS)
QuarterlyAfter the 8h working day
GRANTS GMS:Award Status Report by
Department (UFS)
QuarterlyBefore the 4th working day
GENERALLEDGER
Budget Report Comparing to Actual(UFS)
MonthlyOnce Financial Accounts have
notified users (via the
Bulletin) that all processing
has been completed
normally after the 8th working
day
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Month-End Guidance - Purchasing
Each month end run Open Purchase Orders Report (UFS)to identifyincomplete purchase orders and close purchase orders by receiving goods or
matching against the invoice/cancelling the order.
2. Purchasing
2.1 Month-End Guidance: Purchasing
An overview of the purchasing cycle is given as follows:Supplier Receipt Payment to
Requisition Selection Purchase Order Goods/Services Supplier
Although raising a purchase order creates a commitment on UFS, once goods/services
have been received then this becomes a legal obligation to pay the supplier. Prior to the
month-end we should establish that any incomplete purchase orders are actioned and
closed.
2.2 Open Purchase Orders Report (UFS) Monthly
This is a new report that has been designed to make it easier for Departments to identify
and clear out unwanted purchase orders/lines. It is an enhancement of the old Open
Purchase Orders (By Buyer) (CAPSA) reportand it provides users with:
Additional Search Criteria Improved layout Choices regarding the level of detail required
Background
Raising an
internal
purchase
requisition
Quotations
Contracts
Pre-Suppliers
Raise Purchase
Order
Receive Goods
and Services
Purchase
Invoice
Payment
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Depending on whether 2-Way or 3-Way matching was selected when the Purchase
Order was raised, it will have one of the following statuses:
3 Way Matched POs 2-Way Matched POsStatus Explanation Status Explanation
Open PO Raised only
funds committed
Open PO Raised only
funds committed
Closed for Receiving Goods have been
received on the
system
Closed for Invoicing Invoice matched to
PO but 100% was
not entered in the
Receipt Close
Tolerance box
Closed for Invoicing Invoice matched to
PO but goods not
received on system.
Closed (will not appear
on report)
Fully matched
Closed(will not appear
on report)
Fully matched and
received.
Finally Closed (will not
appear on report)
PO has been
manually closed to
remove
commitment.
Finally Closed (will
not appear on report)
PO has been
manually closed to
remove commitment
Why this report is useful
It lists all the Purchase Order lines that have not been fully received or fully matched to
an invoice and will assist in identifying where goods need to be received onto the
system, or order lines need to be cancelled or finally closed.
This report should be run at the very least on a quarterly basis (although it could alsobe run more frequently if you wish) as a standard housekeeping task.
Departments who place a large number of Purchase Orders against research grants
would benefit from running this report as it contains useful information with regards to
funds checking and commitments.
Additional search criteria
SLS Department So that the report can be run by Central Finance for a specific
Department.
Creation Date From/
To
So that open Purchase Orders can be tackled by date.
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Levels of Detail
Show Summary Info Analyses and summarises the results by buyer, month, dept, Project
related, PO type.Show Detail Info Outputs Line/ Shipment level detail.
Report Breaks User can optionally choose to section the report by buyer, or vendor
name
How to run this Report
You can run this report under PO Buyer responsibility. In the Report Parameters if youaccept the default parameters you will obtain a complete picture for your department
across all buyers.
Rather than automatically print off a hard copy of your report, run it to screen
first and check to see how many pages it is. If it is exceptionally long you might
want to specify extra parameters such as creation dates or Project orders to
If you wish to investigate
particular cost centres that the
Purchase Orders have been coded
to, you can enter them here
Buyer or
Vendor
Optional
Whatever
you type herewill appear at
the top of
your report
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Creation Date From
Creation Date To Optional (none, one, or both) Purchase Order Creation Date range in the format DD-MON-
YEAR
Buyer Optional An individual buyer can be entered or selected from the list of
values.
Vendor From/ To Optional An individual vendor can be entered or selected from the list of
values.
From/To Cost
Centre Optional An individual cost centre can be entered or selected from the list
of values.
Select Only Project
Orders
No = Selects all Purchase Orders.
Yes = Selects only Project related Purchase Orders.
Show Summary Info Analyses all Purchase Orders reported on by Type, Department,
Creation Month and Buyer.Yes = Show Summary analysis, and PO Header information
(see Example 1)No = Show PO Header information only
(see Example 2)
Show Detail Info No = Does not show Line and Shipment information.
Yes = Shows Line and Shipment information.
(see Example 3)
Report Breaks An optional field that divides the report into sections:
Left blank No sections.
Buyer Name Sections report by Buyer Name
Vendor Name Sections the report by Vendor Name.
Glossary of Purchase Order Status
See Appendix A for an example of this report
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STATUS
NAME
WHAT THIS MEANS & ACTION POINTS
Closed
for
Invoicing
An invoice has been entered in the Accounts Payable module and has been matched
to a Purchase Order BUT the goods have not been received against the Purchase
Order on the system. There could be two reasons why this has happened.
1) The Purchase Order had two-way matching selected, but the receipt closetolerance was not changed to 100%.
In this case, the goods can either be received on the system and the order willautomatically close; or
the Purchase Order can be Finally Closed manually (See Instructions overleaf).2) The other scenario, which will result in this status, is where the full quantity ofgoods originally ordered have not been received but they have been paid for, as
there was an invoice for the full quantity. A hold must have been over-ridden on
the invoice in the AP module, to do this.
In this case the buyer must check that they have definitely received the fullquantity and receive the remaining items on the system.
If the full quantity has not been physically received, then we have over-paid thesupplier who will need to issue you with a credit note.
Once the credit note has been processed, the relevant line can be Finally Closed.Open There are three circumstances where a Purchase Order/ line will remain Open.
1) If the order is recent and delivery of the goods is still awaited,
no action needs to be taken, although you may wish to prompt your supplier.2) If the order was placed some time ago and, due to a change in
circumstances, no goods have ever or are ever to be received against it, then the order must be cancelled (see instructions overleaf).3) If some of the goods have been received, the Purchase Order line will still be
shown as Open on the report. You will need to check that you have paid for the items
you have received (i), but cancelled any remaining items that you no longer expect to
receive (ii).
i) To check that the quantity received equals the quantity billed, enter theShipments screen of the relevant Purchase Order line and select the Alternative
Tabs blue box that says Shipments. Select Status from the pull down menu
that appears and a screen showing the number of items received and the number
billed will appear. This Status screen is a useful tool for checking and
confirming, in detail, the information given in the Open Purchase Order Report
ahead of carrying out any procedures some of which can not be reversed
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2.3To cancel/ finally close a purchase order or purchase order line Open the Purchase Order Summary screen and query back the Purchase Order to be
cancelled. Please note that only Purchase Orders with the status Approved can be
cancelled.
Click on the menu bar under Special/ Control and highlight the line CancelPurchase Order or highlight Finally Close, depending on what you are doing.
Click OK. You will receive a message indicating that you commitment has beenremoved. Review the message and continue to cancel this order.
To Finally Close a line (only to be carried out when fewer goods have been billedand received than originally ordered) follow the same procedure as above and select
Finally Close instead of Cancel Purchase Order.
2.4 To return goods on the system Using the PO Receiver responsibility, navigate to the Returns form and open it. In the Find Returns window, enter the Purchase Order number you wish to return on
and click Find
If you wish only to cancel a line of a Purchase Order, select the button that is
marked Lines at the bottom of this screen to show each line of the Purchase
Order. The screen that appears will allow you to cancel individual lines.
Please ensure that you select the appropriate line before proceeding.
You must enter a reason for canceling the order/ line for future audit purposes
as the PO number will not be deleted from the system but remain with a status
of cancelled.
Make sure that you actually want to Cancel or Finally Close the order before
proceeding with any of these instructions. As once either of these actions have
been carried out they can not be reversed.
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3. Accounts Payable
3.1 Month End Guidance
Accounts Payable (AP) describes the procedure for processing supplier invoices and
employee expense claims, and other disbursements processed via the AP module. A
summary of the AP cycle is given as:
Invoice Entry Coded to an Account Approval Payment
Enter InvoiceUsing the
Batching
System
MatchingInvoices to
Purchase
Orders (where
raised)
~coded directly
to relevant
account/project
Primary andSecondary
Approval of
Purchase
Invoices
Payment ofSupplier/
Employee by
Cheque:
Finance
Division
Month-End Guidance Accounts Payable
Validate all AP invoices for the month (this is ongoing). Review supplier statements and check all invoices are secondary approved/or
current (ie. not due for payment).
Review employee expense claims/advances to ensure they are up-to-date andprocessed
Review credit card statements to supporting receipts/vouchers and journalexpenditure from the department suspense account to relevant cost centre.
Run Invoice Register (CAPSA) report to identify invoices not primaryapproved.
Run Invoices on Hold (CAPSA) Report to list invoices placed on hold and thenaction all holds, as necessary. Since the upgrade to 11i in December 2004 there should no longer be any
invoices that are coded to a project which become unapproved as a result of
the AP Tie Back process.
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How to run this report
To run this report you need to follow the options set out in the box below.
Using the Find Invoices screen enter the suppliers name and the date range that youwant to find.
You should get a list that looks something like this:
Navigate AP Responsibility Enquiry Invoices
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To make the report easier to work with it is recommended that you export the results
into excel. This can be done by clicking on File and selecting the Export option.
Whilst the system exports your data from UFS into Excel you may get a bar acrossthe screen telling you how far through the export the system is:
Once the system finishes exporting your data into excel you should get thefollowing screen pop up, click the Open this file from its current locationoption (as shown below) and click the OK button. (In some cases you may not
be asked this but your data will appear automatically in excel)
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You should then get the following window come up. Highlight Excel (Using yourmouse) and then click OK. Microsoft Excel (version 2000) should open
automatically and your information should be exported into spreadsheet (this can
take a few minutes depending on the size of your list).
Once in Excel you can manipulate the data how you want (Move columns, delete
columns etc.).Note: You may need to widen the width of some columns to view all theinformation, it will sometimes appear as #####, if you can not see everything
contained in the field. If you want the list in date order highlight the whole sheet, by
clicking your cursor in the top left hand corner of your spreadsheet. Then use Data
Sort, select Invoice Date and click OK.
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3.3 Invoice Register (UFS) Monthly
Why this report is useful
An important part of month-end for Accounts Payable is to ensure that all batches/APinvoices to be included in the current months accounts have been completed. This
report will list all invoices that have not been through PRIMARY (i.e. First level)
validation.
How to run this report
The following parameters should be selected
Please Note: If you are in a Central Department, if you run this report you willget every Unapproved AP Invoice across the entire University. The Finance Division
will produce a separate report on your behalf, showing just your own departments
entries, this will be sent to you, in order for you to carry out your month-endprocedures.
See Appendix B for an example of this report
You can use
this report at
other times to
list all the
distributions
for a batch of
invoices, by
batch name or
processors
name.
By changing
this to NO
you will get
all invoices.(Ok if you are
limiting
report to a
single batch)
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3.4 Invoice on Hold Report (UFS) Monthly
Why this report is usefulThis report shows all the AP invoices on hold within your department listed by hold
name. These invoices will not be paid until the hold is resolved and/or overridden.
The following are some of the most common holds found on invoices within Accounts
Payable.
Hold
Name
What does it mean? How did I get it? Over ride?
Credit
Note
Your invoice is on hold
awaiting a credit note
Someone in your department
has manually put this hold on
your invoice
Yes you can manually over
ride this hold
Internal
Dispute
Internal Trading Invoice
that is being disputed
Someone in your department
has manually put this hold on
your invoice
Yes you can manually over
ride this hold
Qty Rec. The quantity you have been
billed for on your invoice
exceeds the quantity you
have received on the
system
Maybe you have only part-
received this order. Or some
items have been sent back.
Need to receive the goods
on the system if the receipt
has been overlooked. Get a
credit note if goods sent
back or no longer required.
You can manually over ride
this hold.
Tax
Difference
The tax name on your PO is
different to that on your
invoice
Either the wrong tax name
was entered on the PO or the
invoice
You will need to check and
amend the invoice
distributions. You canmanually over ride this
hold.
Price The price of the invoice is
different or exceeds the
price that was on the PO
Either the wrong price was
entered onto the PO or the
invoice is wrong.
Check with the Buyer
and/or Supplier. You can
manually over ride this
hold.
Qty Ord. The quantity that you have
been billed for on theinvoice exceeds the
quantity that was originally
ordered.
Was the invoice for several
POs and only been matchedto one? The original PO may
have been incorrect.
Check with the Buyer.
Match against other POs ifnecessary. You can
manually over ride this
hold.
Final
Matching
There is a Final Match hold
on this invoice
You ticked the Final Match
box in the Match screen.
Contact The Accounts
Payable Helpdesk. This
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How to run this report
Action points from this report
All invoices on this report should be investigated. Where the holds are valid and current, efforts should be made to enable the invoice
to be released from hold. Holds for any other reason are to be released to enable the invoice to be paid or the
invoice should be cancelled.
Once all holds have been released, the report should be ran again to ensure allinvoices are processed prior to the financial year end.
See Appendix C for an example of this report
If you are a
CentralDept. you
must enter
your Dept
Code in
here
Leave blank
when runningreport at year-
end. But can
be used when
running thereport as a
house-
keeping tool.
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4. Accounts Receivable
4.1 OverviewAccounts Receivable concerns income generated from sales for services rendered and
involves the following steps.
Send to Debt
Invoice Customer Receipts Management
It will be necessary to raise sales invoices promptly to ensure income is collected
quickly.
4.1.1 Internal Trading
Internal Trading refers to inter-department (internal to the University) purchases andsales when one department trades (sells goods) to another department.
Dept A Dept B Finance Division
Sales Invoice Action Invoice Reviews
Disputes
4.1.2 Banking
It is important to ensure that all monies (cash and cheques) received during the month
are banked and receipted promptly and at least weekly. It will also be necessary to
balance your petty cash float for the period
Raise Sales
Invoice
Invoice Sent to
Customer
Income
Collected and
Receipted
Credit Control
Statements/
DunningLetters
Raise Internal
AR Invoice
Locate Internal
AP Invoice on
UFS, code toappropriate
Dept account
& approve.
Finance
Division
ReviewsMatching of
AP and AR
Invoices
When invoices are disputed, queries should
be resolved by referring to Head of
Department in the first instance. Final
Arbitration is with the Finance Division
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4.3 Incomplete Invoices Report Monthly
Why this report is useful
This report will show all the sales transactions that are currently incomplete on the
system; they will all require some further action by the Department.
How to run this report
Run Unapplied Receipts Register to identify any receipts unapplied to specificinvoices and match these receipts to the invoices report.
Run Aging 7 Buckets by Accounts report to show invoices with no remittance,and review use for credit control.
Review and write-off bad debts (with the Head of Department approval).Internal Trading
Raise Internal Trading AR invoices promptly to departments in accordancewith agreed terms.
Process Internal Trading AP invoices promptly (within the same month ifpossible)
Review and agree Internal Trading invoices in dispute and refer to arbitrationas necessary.
Banking
Complete all receipt batches for cash and cheques received on or before thelast day of the month.
Run the Receipt Register report for cash receipt batches. Arrange for banking of all monies received up to the last day of the month
(including vending machines, photocopier sales, pay phones, key deposits).
Claim BACS receipts/bank transfers from the weekly Finance Divisionspreadsheet. Process monthly petty cash journal for balancing your petty cash float.
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Action points from this report
Each Invoice on this report will have to be reviewed and one of the actions detailed on
the following page carried out.
TYPE QUESTION INSTRUCTIONS/COMMENTS
VOID Is this invoice no
longer required?
Does the Void needcompleting?
Void and complete the invoice according to the
normal procedure. NB: You will get a message
asking you to Rerun AutoAccounting?
Click on Yes and Complete.
If so complete the Void in the normal fashion.
CREDIT
OR DEBIT
Was the credit/debit
memo not completed
because you made an
error on it or it was
raised by mistake?
If yes
Void and complete the credit/debit memo
according to normal procedure.
If no,The credit/debit memo should be completed and
then matched to the appropriate invoice (or
credit/debit memo).
INVOICE Was this an invoice Void and complete this invoice according to the
Please Note: If you are in a Central Department, if you run this report you willget every Incomplete Invoice across the entire University. The Finance Division will
produce a separate report on your behalf, showing just your own departments
entries, this will be sent to you, in order for you to carry out your month-end
rocedures.
See Appendix D for an example of this report
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4.4 Unapplied Receipts Register Monthly
Why this report is usefulThis report will list receipts that are showing against a customers account, but that have
not been applied to a specific transaction (Sales Invoice). Receipt Batch status will be
OPEN when investigated but should be CLOSED wherever possible. The Batch will
close once all of the Receipts have been applied within the batch.
How to run this reportThe following parameters should be selected to run this report
Please Note: If you are in a Central Department, if you run this report you willget every batch with an unapplied receipts across the entire University listed. TheFinance Division will produce a separate report on your behalf, showing just your
own departments entries, this will be sent to you, in order for you to carry out your
year-end procedures.
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Action points from this report
Start Here
4.5 Ageing 7 Buckets By Account Report (UFS) Monthly
Why this report is usefulThis report will show all your Sales Invoices that you have not received remittances for,
it will list all your past due invoices and group the outstanding amount by bucket (time
period). It will also give you an overall figure for all your departments external debtors.
How to run this report
The following parameters should be selected
Query back the
Receipt Batch and
locate the unapplied
recei t
Can the money/funds be
applied?
NO
YES
Having drilled down to the
receipt. Apply the funds to a
transaction (Sales Invoice).NB
it may be necessary to create a
Debit Note in order to have
somewhere for the funds to be
applied against.
Was it an overpayment?
YES NO
Verify that the
amount should
be carried
forward for
future
allocation
Make arrangements
in the AP module to
refund your
customer. (Guidance
on this is available
through the AR
Helpdesk)
Completethe
parameters
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Action points from this report
All outstanding transactions should be investigated All outstanding transactions should be followed up with either
i. Phone Callsii. Statements
iii. Dunning LettersContact the AR Helpdesk for advice on printing statements and dunning letters if
required.
What If a Customer has already paid?
It may become apparent that Customer has already paid their outstanding debt.
Review any receipts previously received from Customer (funds may havebeen allocated against the wrong invoice or directly against a G/L code)
Review the unallocated BACS spreadsheet sent out from Central Financeeach week.
If the funds have been received, but
a) wrongly allocated;
or
b) not yet claimed.
Make arrangements to apply the funds against your Customers outstanding
transaction(s) (further guidance on claiming BACS receipts or re-allocating existing
receipts is available from the AR Helpdesk / Central AR).
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5. Inventory
5.1 Month End Guidance
These procedures only apply to departments using the UFS Inventory module. It will be
important for the departments with stores to ensure an accurate record of stock is
maintained and that stock is allocated accurately within the department.
Receipt Issue Review Reconcile
5.2 Inventory Value Report Monthly
Why this report is useful
This report details the stock value at the end of the period and should be reconciled to
the general ledger inventory codes (the T range of transaction codes). It gives abreakdown of the stock item by item detailing item code, description, unit cost, quantity
(which should agree to the stock take) and the total valuation.
How to run this report
N h i i i l d h d ll h i i d i h d f l
Month-End Guidance Inventory Complete all inventory issues and receipts made during the month (ongoing
process during the month).
Undertake monthly stock-take or cycle count if appropriate Run Value of Inventory report to review stock items and see overall stock
position
Run Material Distribution Retail Report showing issues of stock items with thedepartment.
Receive the
goods in tostores
Issue
individualitems out of
stores
Review stock
levels
Reconcile
Inventory andGL modules
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5.3 Material Account Distribution Detail Report
Why this report is usefulAs well as giving the stock value at the end of the period this report details all the
receipts, issues and adjustments into the inventory value account.
How to run this report
It is possible to run this report for each cost centre and thus give a concise report for all
stock movements.
Accept allof the
default
parameters
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Action Points from this report
Use this report to reconcile the inventory value report to the general ledger making
adjustments for invoice price variances.
See Appendix H for an example of this report
H R M h E d
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6. Fixed Assets
6.1 Month End Guidance
Departments will wish to monitor their fixed assets using the Fixed Assets module from
time to time. In order to maintain the universitys Fixed Asset Register, departments
must ensure that when processing AP invoices, that for Fixed Asset purchases, to tick
the Track as Asset box.
Finance Division Finance Division
Departments Fixed Asset Addition Fixed Asset Capitalised
6.2 Departmental Fixed Asset Report
Why this report is useful
This report allows a department to see information pertaining to all of its non-retired
assets. Examples of such information include the Cost, Depreciation and Net Book
Value (as of the last Mass Additions process run); the Vendor; the Purchase Order; and
the Invoice Number
AP Invoice
Processed Tick
Track as Asset box
Details listed in
holding area of the
Fixed Asset Module
Fixed Asset is
capitalised and
journals created in
General Ledger
Month-End Guidance Fixed Assets
AP Invoices: tick Track as Asset box all fixed assets > 750 (on-goingprocess).
Notify Finance Division (via Fixed Asset Helpdesk) of any fixed assets disposalsduring the month.
Review the Departmental Fixed Asset Report for accuracy, to departments by theFinance Division.
Run the Asset Additions (UFS) report to check new additions during the quarter(not monthly).
H t R M th E d
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How to Run Month End
Complete both of the parameters, remembering to include your department code. If this
field is left blank you will receive a report of all the Universities assets.
Action Points
If you have any concerns about the completeness of the asset list for your department
then run the Annual Additions (UFS) report to double check that any new acquisitions
have been included.
Notify any omissions or adjustments to the Fixed Asset Helpdesk who will make the
adjustments for you in the subsequent month.
6.3 Annual Additions Report (UFS) Quarterly
Why this report is useful
This clear and concise report identifies assets purchased in a department during any
specified time period (not just a year). It displays:
asset number and description date taken into service -normally the purchase date original cost
Note: it is particularly vital that assets over 10,000 are identified so that they may be
capitalised in the Universitys accounts. This means that depreciation will be
calculated and thus their cost spread out over a number of years.
See Appendix I for an example of this report
The only optionavailable from the
list of values
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How to Run Month End
Action Points
Review the report for completeness. If you discover that a recent asset purchase has notbeen included (or alternatively an item has been included on the register by mistake)
please contact the Fixed Asset Helpdesk who will make the adjustments for you in the
subsequent month.
See Appendix J for an example of this report
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How to Run Month End
7. GRANTS MODULE
7.1 Month End Guidance
The Grants Module records expenditure and income for the Universitys research grants
and contracts. Research grants are governed primarily by the length of the grant rather
than accounting periods (months), and therefore departments will need to be pragmatic
when considering their month-end procedures.
7.2. Expenditure Posted to Dummy Suspense Grants Monthly
Some types of costs that are imported into the Grants Module, such as payroll, are not
validated until the import process is run. Oracle Projects rejects expenditure if the item
fails the validation and therefore the expenditure is not imported onto the project.
Included in the standard validation process are checks to make sure that the:
expenditure item date falls within the project dates the project status allows transactions transaction controls set allow the type of charge being made
Month End Guidance Grants
The following tasks should be undertaken monthly
Review expenditure posted to your dummy suspense grant and re-postexpenditures to clear the dummy grant to zero
Review and clear funds check failures Check for unposted pre-approved batches Correct VAT errors as advised by the Tax & Property Finance Section
The following task should be undertaken quarterly
Check the status of all grants and take action to correct erroneous items/resolveoverspends and underspends
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ow to un onth nd
All expenditure items posted to these suspense projects will retain the original
expenditure date. The comments field will contain the original project, award and task
number that the department intended to charge and the reason for rejection.
Expenditures can be transferred from the suspense project using the Tools andTransfer function available in Expenditure Enquiry. At month end departments should
ensure that postings made to their suspense grant have been correctly charged out to
the appropriate grants to leave a zero balance.
7.3 Review Funds Check Failures Monthly
Miscellaneous transactions (journals) and costs that are imported into the grants module(e.g. payroll) are funds checked in the grants module. If there are insufficient funds the
expenditure item will appear in the expenditure enquiry screen but will not be processed
and will be flagged as a funds check failure. Expenditures that have failed funds
checking will not transfer to the G/L.
How to Identify Funds Check Failures in the Grants Module
Please refer to the Funds Checking guidance notes on the UFS Research Services webpage http://www-capsa.admin.cam.ac.uk/researchgrants/docs_rsg/
Resolving Grants Module Funds Check Failures1. Check the budget and available funds by viewing the Funds Check Results
Budget Screen available to Grants Administrators
2. If the budget or budgetary control setting needs to be changed please contactyour Awards Administrator in the Research Finance Group
3. If there are no available funds the transaction may need to be transferred fromthe grant, please discuss this with your Awards Administrator before entering
any journals.
7.4 Unposted Pre-Approved Batches MonthlyAt month end please ensure that all grants module pre-approved batches (journals) have
been posted (submitted and released). Please refer to the guidance notes on the UFS
Research Services web page to check that all batches have been posted
http://www-capsa.admin.cam.ac.uk/researchgrants/docs rsg/
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posted to in your accounts ready for correction. You will need to enter a Pre-Approved
Batch (journal) in the Grants Module to transfer the VAT adjustment from this G/L
code to the project that it relates to.
The VAT adjustment will be posted to your departmental research cost centre, onto thesource of funds and transaction code below
Example: **AG.AAAA.EZZM (where ** is your department code)
Quick Reference Guide
1. In Accounts Payable look up the invoice number and make a note of the researchgrant distribution codes (project, award task etc)
2. In the Grants module set up a Pre-Approved batch header3. Enter journal lines to transfer the VAT adjustment from the G/L code it has been
posted to (**AG.AAAA.EZZM) onto the Grant it relates to.
If your G/L code has been debited you will need to debit the Grant and credityour G/L code.
If your G/L code has been credited you will need to credit the Grant anddebit your G/L code.
4.
Save your journal and submit and release.
For further advice on entering Pre-Approved batches please refer the CUFS Research
Grants web page http://www-capsa.admin.cam.ac.uk/researchgrants/
7.6 Month End processing Monthly
There are several processes run at month end in order to reflect all expenditures onto the
grants:
Monthly payroll imports Overheads (Fixed and Variable) Pooled Labour Telephones Inventory
Posting of Payroll Charges
The payroll is processed on the legacy system; the charges are imported into the Grants
Module and directly into the GL. They are imported anytime between confirmation that
Payroll has done the transfer to the GL and the last working day of the month.
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Posting of Overheads
A grants process at the month end generates the overheads charges. The overheads are
posted as expenditure to the grant, which maps across to the G/L, split between the
Chest and Department share. The Department share is posted as a credit to the researchcost centre, source of funds EDAA, transaction code LZAA. Where the department has
grants from Research Councils and the overhead has to be accounted for separately, a
transfer is made to move the overheads from EDAA to source of funds ECAA.
Departments should spend their overheads directly from the source of funds code it is
posted to, using the correct item codes for the expenditure.
Variable overheads are set to run overnight on the last working day of the month. Fixedoverheads are run during the working day on the last working day of the month.
Posting of Pooled Labour
The pooled labour charges are generated by a grants process at the month end, being
posted as expenditure to the grant. The charge is generated from the budget awarded by
the sponsor, which is allocated over the life of the grant. The pooled labour credit due to
the department is posted to the research cost centre, source of funds ECAA and
transaction code AZZZ.
Pooled labour is run during the last working day of the month.
Telephone and Inventory
Telephones and Inventory costs related to Grants are imported on the last working day
of the month.
Posting of Grants Pre-Approved Batches (journals) to the G/L
When users enter pre-approved batches (journals) into GMS, a grants process will post
the G/L side of the batches into a G/L import table from where it is then imported into
G/L.
Expenditure lines to the same G/L codes will automatically be added together, along
with lines from other batches to the same G/L code with the same ending date, and
shown as a lump sum with the reference Projects. Drill down is available from the
G/L back to grants to view the entries or the Cost Audit Report can be ran for the
projects posting reference to obtain a listing of the entries.
More information regarding the posting of pre-approved batches, G/L drill down and
the cost audit report can be found on the CUFS Research Grants web page
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Expenditure for each Expenditure Category Budget Expenditure (actual) Commitments Total Cost (Actual plus Commitments) Funds Available
Why this report is useful
The report provides up-to-date details on awards including expenditures, amounts
committed and funds available. The report will only show the award and values if theuser is permitted to see this information. The report will provide totals at the task and
award level. The report provides an accumulative summary of each award and is useful
for checking expenditure and available funds.
How to run this report
From the Reports option (N Requests Submit Single Request) select GMS: Award
Status by Department (UFS). A Parameters box will appear. The report can berequested for all awards in the department or for a Principal Investigator (as below). To
request for all awards leave the Principal Investigator parameter blank.
This report currently runs overnight and when requested will appear as below in the
t t ti ll i i ht
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Parameters Explained:
Parameters:
From Award Organisation Enter or select your organisation from the list of
values
To Award Organisation Enter or select your organisation from the list of
values.
Award Number This should be left blank if you wish to review all
awards within a department
Principle Investigator Leave blankor select from the list of values toproduce a report by a named Principle
Investigator.
Include Closed Awards This defaults to No, change to Yes to include all
closed awards.
Show Details This defaults to No, however change to Yes to
show the following:
If the parameter is set to Y, then the reportwill show the expenditure, commitment andtotal cost by expenditure type, and budget and
funds available by expenditure category.
If the parameter is set to N, then the reportwill show the budget, expenditure,
commitment total costs and funds available by
expenditure category.
Funds Check Failures The default is Yes to include any Grants Module
funds check failures.
However, the parameter can be changed to:
No to exclude Funds Check Failures; or Only to only show Funds Check Failures.
Order By Select either, Award Number, PrincipalInvestigator or Project Number. If this field is left
blank the award status reports will be ordered by
Award Number.
Page Break Per Award This defaults to no (N), and can be changed to yes
(Y) if i l d i i d
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8 G l L d
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8. General Ledger
8.1 Month End Guidance
The GL is at the heart of UFS, collating information from the sub-ledgers of all of the
Universitys financial transactions. The GL is used for processing journals, account
enquiries and running reports.
Note on Accruals and Prepayments: When preparing your departmental accounts,
accruals and prepayments can be used to:
more accurately reflect your financial position to monitor your final position.
At present Departments are not expected to accrue their income/expenditure until the
year-end, however, if the amounts are material then they should be processed on a
monthly basis. Advice is available from your Finance Adviser.
Month-End Guidance General Ledger
Pre-GL Close
Review any unposted GL journals. Take actions accordingly. Review and clear any departmental suspense accounts. Journal (or transfer) expenditure to match to correct source of funds. Review GL transactions for potential miscodings and correct as necessary. Review expenditure on Non-Recurrent grants to ensure not overspent. Review and monitor Trust Funds: Finance Division distribute Trust Funds
Statements monthly.
Review and process journals for Deposit Account movements.Post-GL Close
Run Budget Comparing to Actual (CAPSA) report to review the departmentstransactions and balances.
Review the Departments Summary Report distributed by the Finance Division.
How to Run Month End
The report does not show:
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The report does not show:
Commitments Total number of Amalgamated Fund Units held although these can be
found by running other GL reports such as the Transaction Code Balances
Report (CAPSA), and choosing STAT as the currency type.
If you run the report for all of your sources of funds, against all of your cost centres you
will see within the balances:
The balance of reserves held the brought forward balance plus or minus any
adjustments - look at Transaction codes starting
with an X
The balance for the year on all
income and expenditure codes
Including interest received from deposits /
amalgamated fund (AF) unit investments and any
unrealised gains and losses on AF units
The balance invested in deposits
and/or amalgamated funds
Transaction codes starting with a S - displayed in
sterling
The total received by the
department from the centre of all:
Estimates, Allocations Supplementary Allocations Warrants
Displayed in the form of annual budgets and year
to date budgets (i.e. phased over the financial
year).
How to run this report:
The example below shows the parameters that should be entered to ensure that all
possible account code combinations are included for your department.
'
Enter your
own
Department
Code
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Parameters explained
Parameter Options Notes
Period Name
from
Always select the
first month of the
year (e.g. Aug-04)
This report will only you to select the first month of
the financial year.
Period Nameto Choose the month inthe same financial
year for which you
want to run the
report for.
Do not select any periods that start as ADJ-
Dept Segment
value
Enter your
department two
letter ID code
The report balances for only one department at a time.
Primary Page
Break Segment Source of funds Cost centre Transaction
For the year-end report choose Source of Funds. This
primary page break is the main subtotalling choice
and the report will start a new page for every change
in source of funds.
Primary pagebreak segment
low/high
Put in a rangeanywhere from 0000
to ZZZZ
For a complete set of balances choose the range 0000to ZZZZ.
Secondary
Page break
segment
Cost centre Sources of funds Transaction
For year-end report choose cost centre. This
secondary page break choice means cost centre totals
will be displayed within each source of funds,
Secondary
segment
Low/High
Put in a range
anywhere from 0000
to ZZZZ
Again for completeness choose the full range 0000 to
ZZZZ. Importantly, a prior keying error may have
resulted in a balance on a cost centre where it is not
expected; also some opening balances were posted to
0000 cost centre.
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8.3 Financial Summary Reports
Each month Management Accounts forward to Heads of Departments a Financial
Summary Report for the department. It is also the report that will be sent out at YearEnd and which Heads of Departments will be asked to sign off.
Why this report is useful
This concise report represents the summarised financial position (by sources of funds)
for the whole department. It shows:
Budgets Income & Expenditure Cash position Investments: including money on deposit and Amalgamated Fund Units Balance Sheet entries e.g. petty cash, debtors and key deposits A reconciliation to UFS
Departments are unable to run this report themselves, however may be possible to
produce a version of this report run by cost centres as opposed to sources of funds. Ifthis is required please contact Financial Planning & Analysis.
Please note that at the end of the financial year Heads of Department will be required to
sign off the source of funds version.
Understandingthe ReportThe report lists all the sources of funds used in the department during the financial year
and is broken down into three main sections:
Income & Expenditure the position for thecurrent financial year
Overall Financial Position theaccumulatedfinancial position for each source of
funds inclusive of all investments and brought forward
balances
Memorandum is shown for completeness. The column Reconciliation
to UFS equals the column Variance YTD on the
UFS report Budget Report Comparing to Actual.
Income & Expenditure
How to Run Month End
expenditure.
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expenditure.
A total in brackets means the source of fundsis overspent.
A positive number is a favourable variance.
Overall Financial Position
This section represents the accumulated overall financial position for each source of
funds inclusive of money on deposit, Amalgamated Fund Units (AFU) and Other
Investments.
(Overdrawn) / Cash in Hand (5) This column represents the current cashbalance for each source of funds (i.e. excludingdeposit and Amalgamated Fund, which are
shown in columns 6 and 7).
A (deficit balance) here should be investigated.Total (9) =(5)+(6)+(7)+(8) This column is the total of cash in hand (or
deficit) and invested balances.
The total is important because it represents theoverall financial position for each source offunds.
A figure in brackets means a source of funds isin deficit.
Memorandum
Balance Sheet Entries This column represents items that are not
included in either the Income &Expenditure or the Overall Financial
Position sections. The Balances include
items such as petty cash, debtors and key
deposits.
Reconciliation to UFS The figures in this column are the same
as those in the Variance YTD column
on the UFS standard report calledBudget Report Comparing to Actual
(CAPSA).
Grand Total and Department Net Total
G d T t l Sh th b l f ll d t t l ti iti
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APPENDICES
Examples of Reports
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- 43 -
Example 2: Report showing just the PO Header information
Po Number Release Creation Date Buyer Name Vendor Name Project Related
---------- ------- ------------- -------------------- ------------------------------ ---------------
12345 07-JUL-01 JONES, Mrs. K SIMPLY LTD Y
56789 25-NOV-01 JONES, Mrs. K SIMPLY LTD Y
12123 31-JAN-02 JONES, Mrs. K UNIVERSITY COMPUTING SERVICE Y
24680 27-FEB-02 JONES, Mrs. K TRANSTEC COMPUTERS LTD Y
Example 3 :Report showing detailed Information for order lines and shipments
Po Number Release Creation Date Buyer Name Vendor Name Project Related
---------- ------- ------------- -------------------- ------------------------------ ---------------
12345 07-JUL-01 JONES, Mrs. K SIMPLY LTD Y
Line Num Description Shipment Ordered Received Billed Unit Price Status-------- ------------------------------ -------- ---------- ---------- ---------- ---------- -----------------
1 ABC234K PII350MHz 256MB 10GB 1 1 0 0 2849.98 Open
56789 25-NOV-01 JONES, Mrs. K J SIMPLY LTD Y
Line Num Description Shipment Ordered Received Billed Unit Price Status
-------- ------------------------------ -------- ---------- ---------- ---------- ---------- -----------------
1 EZCD Creator Del 3 for Linu 1 1 0 0 156.5 Open
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Appendix D: Incomplete Invoices Report
CAPSA Set of Books Incomplete Invoices Report Report Date: 21-MAY-2005 09:52Order By: Invoice Page: 1 of 8
--------------------Invoice--------------------- --------------------------------Customer---------------------------
Number Type Date GL Date Name Number
-------------------- ------- --------- --------- --------------------------------------------- ---------------------
1213 AG Inte 15-JUL-04 15-JUL-04 ESTATE MANAGEMENT & BUILDING SERVICES 1018
1271 AG Cred 08-AUG-04 08-AUG-04 CLINICAL SCHOOL IT SUPPORT 1119
1294 AG Cred 24-OCT-04 05-APR-05 FALL Mr D 794725770 AG Void 11-JUN-04 ANATOMY 1088
25950 AG Inte 13-JUN-04 13-JUN-04 ESTATE MANAGEMENT & BUILDING SERVICES 1018
26273 AG Invo 14-JUN-04 14-JUN-04 ADDENBROOKE'S NHS TRUST 12232
Transaction
Number
Dept. Code
and invoice
type
Customer Name and Number
Note that Voids do not hit the GL
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- 47 -
Appendix E: Unapplied Receipts Register
CAPSA Set of Books Unapplied Receipts Register Report Date: 22-MAY-2005 17:38GL Date From To Page: 1 of 51
Currency: All
Format Option: Detailed * - Unidentified PaymentEntity: U
Batch Batch Payment Payment On Account Unapplied
GL Date Source Name Method Payment Number Date Amount Amount
--------- -------------------- --------------- ------------ -------------------- --------- ------------------- -------------------
Customer Name: HUISH PLC Customer Number: 121212
01-DEC-04 Manual Receipts AG/01/12/04/B1 Cash AG/TJH/01/12/04/R3 01-DEC-04 0.00 66.35
------------------- -------------------
Total for Customer: HUISH PLC 0.00 66.35
Customer Name: JOES PLACE Customer Number: 10005
18-MAR-05 USDManual Receipts AG/18/03/05/B3 USD Cash AG/TJH/18/03/05/R1 18-MAR-05 0.00 31.98
Total for Customer: JOES PLACE ------------------- -------------------
0.00 31.98
Receipt Batch Name
Receipt Batch
Source
Individual Receipt
Number within the
Batch
Amount Left to be
AppliedNB: This
may not be the
whole amount of
the original receipt
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Appendix G: Inventory Value Report
PK_Pathology Report Date: 06-JUN-2005 16:22
Sort by Item AFINVCST Page: 1Cost Type: Average Detailed (GBP)
Category Set: Inventory
Item
Item Description Status UOM Quantity Unit Cost Extended Value
--------------- ------------------ ---------- --- ------------ -------------- ----------------
AJ0009 OVERHEAD PROJECTION SHEETS A4 PER SHEET PACK/100 Active Ea 17.00 19.99 339.89
Subinventory Asset Description Rev Quantity Extended Value
------------ ----- -------------------------------------------------- --- ------------ ----------------
--------------------------------------------------------------------------
ASSET_PK Yes Primary Sub Inventory 17.00 339.89
AKA0015 PHOTOGRAPHIC FILM POLAROID 667 Active Ea 35.00 12.00 420.00
Subinventory Asset Description Rev Quantity Extended Value
------------ ----- -------------------------------------------------- --- ------------ ----------------
--------------------------------------------------
------------------------
ASSET_PK Yes Primary Sub Inventory 35.00 420.00
Headings wrap
around onto two rows
Item Code
Extended
Value could
be subject to
rounding
Quantity
Available
Average Unit Cost
calculated by the
system.
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Appendix H: Material Distribution Detail Report
PK_Pathology Report Date: 06-JUN-2002 16:22
Sorted by Account Material Account Distribution Detail(CAPSA) Page:314
GBP
Account: U.PK.PKAB.ADAA.TAAA.0000
Txn Date Item Description Reference Source Quantity UOM Unit Cost Txn Value
--------- -------- -------------- -------- -------------- ------------ --- ------------- ---------------12-JAN-01 UDE0011 GLOVES SILK PAIR PA15111 1:VIROLOGY -2.00 Ea 5.75 (11.50)
12-JAN-01 UDE0011 GLOVES SILK PAIR PA15101/PF46022 2:ZOOLOGY -1.00 Ea 5.75 (5.75)
12-JAN-01 UDEG0024 GLOVES - LATEX ANSELL PACK/100 pa15007 1:PROF C HUGHE -4.00 Ea 2.80 (11.20)
15-JAN-01 HEA0002 PAPER TOWELS CENTRE FOLD SPD135 44896 10.00 Ea 1.71 17.10
15-JAN-01 HAD0007 HAND CREAM E45 PA15179 1:MICROBIOLOGY -1.00 Ea 3.90 (3.90)
15-JAN-01 HAD0009 HAND CREAM VASELINE PA15179 1:MICROBIOLOGY -1.00 Ea 1.15 (1.15)
PO Number or
Alias used.
Transaction
Date
Item CodeTransaction
Value = UnitCost x
Quantity
NB: When viewing the Stock Account Transaction Code (TAAA as
shown in this example) a positive figure represents good received and a
negative figure represents goods issued. However, when viewing an Income
or Expenditure account code, a positive figure will represent the goodsissued from stock and a negative figure will represent goods returned to
stock.
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