Business Object’s
Departmental Reconciliation
By Dalana Moore
2007
AGENDA
 Why use the BO Departmental Reconciler Query?
 Documents it accesses
 Statement of Activity
 Voucher Detail Report – SUB, PO, NonPO, PCard
 Gross Pay Register
 Organization Budget Status – Flint Gen Fund Only
 Statement Reconciliation (Hands On Example)
 Source Documents
 Verification
 File Retention
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Tips
Errors
Don’t Forget!
Resources
Why use the BO Departmental Reconciler
Query?
It combines pertinent information from
multiple reports.
It is electronic.
Can be saved, printed, or copied to Excel
It is EASY and SAVES TIME!
Campus Goal: No more hard copy reports
from Accounting except the Org Budget
Status Report.
Report Relationship Diagram
ATTRIBUTES
•Hard Copy Reports
•Not Electronic
•Many Pages
Gross Pay
Register
Detail: Salary &
Fringe
Benefits (limited)
•Difficult to Reconcile
•Difficult to Cross Reference
•They Get Lost!
•Print When you Want
•Mailed Late!
Voucher
Detail Report
Detail: PO, SUB,
NonPO, PCard
Statement
Of
Activity
Detail: JE & CR
Org Budget
Status Report
Detail: Budget
Totals
BO Departmental Query Diagram
ATTRIBUTES
•Electronic
•Easy to see all “relevant” info at
one time
•Payroll Summary with Salary &
Fringe Benefits
Flint GF
Departmental
Reconciler Query
•Print, Save, transfer to Excel
•Won’t Get Lost!
•Run when you want even prior FY!
Gross Pay Register
•Person
•Salary
•Fringe Benefits
•Shortcode Assigned
Voucher Detail Report
•SUB Vendor
•PCard Holder
•Voucher#
•Merchant Info
•Item Detail
Org Budget Status Rpt
•Program Totals
•Budget Transfers
Statement of Activity
•Journal Entry Detail
Additional Reports from Query
 Payroll Summary Report
Summarizes all salary and fringe benefits by person for
the current month
 SUB Detail Report
Detail information that was processed through the
Service Unit Billing Process for the Current Month.
 Examples: Printing and ITCom Charges
 FY Summary of Activity
Revenue & Expense Account Group totals Year-to-Date
Statement Reconciliation
 Run CMB Flint GF Departmental Reconciler Query for Example
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Account End Date – 12/31/2006
Accounting Period – 6 (December 06)
DeptID#956400 – Fin Services & Budget
Fiscal Year – 2007
Fund – 10000 – General Fund
Program - % (=all programs) or #12774 - Accounting
 Reconcile Sources to Activity
 Timesheets to GPR
 Name, Appointment Data, Salary Amount, Overtime
 Monthly PCard Reconciliation Report
 Non PO, PO (if invoices have been received), & SUB
 Journal Entries & Cash Receipts
 Other
 Expense Transfers
 Corrections Journals
TIPS
 Start reconciliation after email from Flint Accounting Office (Rick).
 Validate “Tick Off” the Activity
 TAKE CREDIT FOR YOUR WORK – write on the statements and
sign/date when completed. This can be done manually or electronically.
 Create a “Cheat Sheet”
 For Payroll, create a list all employees and expected monthly salary
amounts and update as needed (more often with Professors &
Adjuncts).
 For PCards, create a list of PCard holders.
 For Telephones, create a list of department phone numbers.
 Project Grant List, create a list of Project Grants that are associated to
your DeptID and Programs
 Valid Account List
 A list of all valid Revenue & Expense by Fund. This list provides the
account title, long description, account group.
 You can open the list (Excel) from the web from the Financial
Operations home page.
 www.umich.edu/~finops/
 Under “General Information” button, under “Valid Account Listing”.
Errors
 Payroll Errors
 For all Regular Facility/Staff have to be corrected through HR.
HR will create a correction journal. You have 120 days after a
yearend close to fix payroll errors (until Oct. 30th).
 For Temporary employees, all corrections are done on a journal
entry.
 Journal Entry, Cash Receipt, PO, PCard, SUB, NonPO
Errors should be corrected by a journal entry.
 Chartfield Errors
 All corrections need to be corrected by a journal entry if the
Fund, DeptID, Program, Class, Project-Grant, or Account is
wrong.
DON’T FORGET!
 To Reconcile all Fund/DeptID(s) and
Project/Grants that you are responsible for!
For Flint General Fund:
 Fund: 10000
 CMB Flint GF Departmental Reconciler Query
For Flint Non-General Fund:
 Funds: 30000,40000,5xxxx,90000,20000,25000,8xxxx
 CMB Departmental Reconciler Query
For All Project Grants:
 Funds: All Funds
 CMB Project/Grant Departmental Reconciler Query
Resources: File Retention
SPG 604.1
http://spg.umich.edu/pdf/604.1.pdf
Sponsored Programs / Gifts & Endowment – 7 years
General, Designated and Auxiliary Funds – Current
year plus 2 years
Rebilling Units – 7 years
Sales Tax Documentation – 6 years
Unrelated Business Income Tax Documentation – 6
years
Tax Returns – 7 years
Resources: Contacts
 Flint Accounting & Budget
http://vca.umflint.edu/fs/
 Financial Operations
http://www.finops.umich.edu/index_js.htm
 Procurement
http://www.umich.edu/~purch/AP/
 Flint HR
http://vca.umflint.edu/hr/
 ITCom
http://www.itcom.itd.umich.edu/