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Grants Operational Closing Procedures FY 2015
June 2015 1
June 2015 2
Agenda
Welcome Revenue Closing Timeline Grant Tasks Questions and Answers SEFA/SIS Reporting
Grants/Projects Revenue Recognition Closing Timeline FY2015
3June 2015
Grant Task 1 – Analyze and take action to close and/or complete Open Grant Items in Accounts
Receivable with dates prior to June 30th
Run query TN_AR18C_ALL_OPEN_ ITEMS_FD_SC
4June 2015
Grant Task 1 cont. – Analyze and take action
Invoice accounting dates greater than 30 days need to be analyze and resolved.
Run Query TN_GR05_BLD_TRANS_BY_INVOICE for each of the items to research source transactions.
Row 2 was for $.01 - might have resulted from drawing from the TN_GR03 amount instead of the invoice.
Row 3 when results of TN_GR05 shows only one voucher payment for the grant – has Federal grant been awarded? Check with program side.
5June 2015
Row 5 Contract LSTA2009 is a credit amount – run query TN_GR05 by invoice to find if this was from a PY Federal expenditure – can it be changed to current grant or does it need to be refunded back to the Feds?
Rows 6 & 7 example of a debit and credit which needs to be closed with a maintenance worksheet.
Grant Task 1 cont. – Analyze and take action
6June 2015
Note: Some receivables unrelated to Grants
Grant Task 1 cont. – Analyze and take action
7June 2015
Grant Task 1 cont. Other options or questions to ask
Have all funds received been recorded as a deposit or was the receipt of funds recorded as a journal entry (JE)? Solution: Run query TN_AR04_MISC_DEPOSIT to research Solution: If not recorded as deposit, key with 6/30 date and close
appropriate items before 7/13
If grant is closed and no more funds available? Solution: Run TN_GR05_BLD_TRANS_BY_INVOICE to obtain
transaction details and move via GL journal voucher.
8June 2015
Grant Task 1 cont. Other options or questions to ask
Have all deposit transactions been recorded? Solution: For ACH run query TN_CM51_EN_BALANCE and
reconcile.
Have all checks received been taken to the bank and deposited?
Does an “on-account” item exist that needs to close an Invoice Item listed in the result of TN_AR18B? Solution: Refer to Task #2
9June 2015
Grant Task 2 - Analyze and take action to close any Open On Account Items in AR
Run query TN_AR18B_OPEN_OA_ITEMSAsk: Have any GL journals impacted Acct 35000700?
10June 2015
Grant Task 2 - Analyze and take action to close any Open On Account Items in AR
Row 107 for $.33 - did this result from drawing from the pivot table on TN_GR03 instead of from the invoice?
11June 2015
Grant Task 2 - Analyze and take action to close any Open On Account Items in AR
DOA does not recommend deposits for grants be put on the Customer’s account.
All open OA deposit items should be closed within fourteen (14) days from the accounting date of the OA deposit item.
Create maintenance worksheet with guidelines in the AR manual; change “Accounting Date to 6/30/15 only can be done until 7/10/15.”
12June 2015
Grant Task 2 - Analyze and take action to close any Open On Account Items in AR
Prior to netting any OA credits with open invoices, the TN_GR05_BLD_TRANS_BY_INVOICE query should be used to validate the accounting dates of the source transactions all occurred within the same or prior fiscal year as the applicable OA deposit.
Sufficient documentation should be attached to OA deposit to identify where funds came from, when the funds came in, and why the amounts were put on account.
13June 2015
Grant Task 3 – Reconcile AR Account 12000001 Trial Balance to Open Items - Overview
Timing is extremely important - recommend:Do 1st thing in the morningNo processing occurs in AR and Billing until all queries
have been completed.No pending AR or BI journals can exist or be in error – so
all AR/BI month end queries may have to be run.Single Action job (TBIJOB3) completed for prior day.AR_UPDATE process should not be ran by agency until this
task is complete.Billing other than “Grant” may exist for agency/BU.Prior state year has closed and balances have rolled.
14June 2015
Grant Task 3 – Reconcile AR Account 12000001 Trial Balance to Open Items - Overview
Step 1: Run query TN_GR048_TRIAL_BALANCE_ACCT for Account 12000001 for a month and/or quarter end
Step 2: Identify all billing invoice items run query TN_AR18C_ALL_OPEN_ITEMS_FD_SC
Step 3: Create a Pivot table to view by Source and Fund
Step 4: Compare amounts from Trial Balance to Open Items
15June 2015
Grant Task 3 – Reconcile AR Account 12000001 Trial Balance to Open Items - Overview
Step 5: Run query TN_AR21_ACCOUNT_ANALYSIS –gives one the ability to see all new invoice items created and invoice items which have been closed; allowing one to “back into” balances at any month end period. Query has to be run by a single period. (Periods would be combined if you were doing this past one month.)
If differences still exist, refer to “Trouble Shooting Guide for Reconciling AR Account 12000001” for additional information.
16June 2015
Grant Task 3 – Step 1Reconcile 12000001 Trial Balance to Open Items
Run query TN_GL048_TRIAL_BALANCE_ACCT and remember to include period “0” and end with the same period as previous queries – running only account 12000001 – do one fund at a time if business unit/agency has multiple funds.
17June 2015
Use a Pivot table to
view data. Project
information can be
ignored.
Grant Task 3 – Step 2Reconcile 12000001 Trial Balance to Open Items
Run query TN_AR18C_ALL_OPEN_GRANT_FD_SC and use the ending accounting date of the current month.
18June 2015
Use a Pivot table
to view data.
Grant Task 3 – Step 3Reconcile 12000001 Trial Balance to Open Items
Compare the amount from the Trial Balance to the Open Items query
A reconciling difference exist – Accounts Receivable per the General Ledger is more than the AR module shows as open invoice items.
19June 2015
Grant Task 3 – Step 4Reconcile 12000001 Trial Balance to Open Items
Note – some of the Open Invoice Items are not related to Grant/Project transactions, but are online or other billings created by the agency. These still need to be reconciled and monitored by the agency.
20June 2015
Grant Task 3 – Step 5Reconcile 12000001 Trial Balance to Open Items
Refer to Trouble Shooting Guide for Reconciling AR Account 12000001 for additional information.
Located on Division of Accounts Job Aids website
21June 2015
Grant Task 4 - Identify and complete any Customer (Revenue) Contracts/Grants in a Pending Status
Run TN_GR22_CONTRACTS_PENDING
22June 2015
Grant Task 4 - Identify and complete any Customer (Revenue) Contracts/Grants in a Pending Status
Transactions on projects in pending contracts do not bill or recognize revenue.
23June 2015
Grant Task 4 - Actions Needed to complete a Pending Contract
Finish Customer Contract Information Finish Bill Plan Information Finish Rate Set Information Make Customer Contract Active Add Notice of Grant Award to Award Profile Add Attributes to the Award Profile Attach documentation to the Award Profile
24June 2015
Grant Task 4 - Actions Needed to complete a Pending Contract continued
Make sure Project budget has been finalized Enter Project Type (Grant or BU specific) Run TN_PR101_PROJECT_COST_DETAIL to
determine if transactions have occurred If yes, provide the Grants team with the BU,
Contract, Project ID, & Accounting range needed to run Pricing.
25June 2015
Grant Task 4 - Actions Needed to complete a Pending Contract continued
Check Commitment Control> Review Budget Activities> Budgets Overview and look by BU/Agency by the PRJ_OVR_PR (Overall project level) to see if expenditures have been budget checked and are in progress
26June 2015
Grant Task 4 - Important Notes Domino effect of wrong “Rate Set”
If flow-through from another state agency “68090” or if received from a non-governmental sponsor “68060”
Could have recognized 68001 Federal Revenue even if you have not billed
Run TN_GR32_CONTRACTS_REVENUE to see revenue recognized
If agency corrects using GL JV’s instead of creating new grant/project – remember domino effect that a billing (BI) journal may be left in the system
Do NOT change rate set dates once Contract created! 7XXX expenditures do not bill on STAT rate sets
27June 2015
Grant Task 5 - Identify and resolve Over-the-Limit (OLT) transactions
Step 1- Run TN_GR19_OLT_CHECK query
28June 2015
Grant Task 5 – Options when addressing OLT transactions - Step 2 Determine if...
1) Contract billing limit should be increased.
2) Expenditures need to be moved to different grant.
3) Expenditures need to be changed to a STATE activity.
4) Expenditures need to be moved to state with no project ID.
Note: Analyze why these transactions occurred by project ID; other transactions may have been charged in error and what is in OLT may be valid for the project/grant.
29June 2015
Grant Task 5 – Options when addressing OLT transactions Step 2 Action 1
If contract can be increased, process a contract amendment. Follow Grant manual Section 3.2
Notify Edison Grants team to run Pricing. Provide BU/Agency, Project ID, Contract/Grant, and Accounting Dates.
30June 2015
Grant Task 5 – Options when addressing OLT transactions – Action 2
If contract cannot be increased and no more Federal dollars are available for that particular grant, run query TN_GR19A_OLT_DETAIL to reallocate
expenditures using an AG source journal voucher.
31June 2015
Grant Task 5 – Options when addressing OLT transactions – Step 2 Action 2
Reallocate using an AG journal to another Project Journal…..
32June 2015
Grant Task 5 – Options when addressing OLT transactions- Step 2 Action 3
Reallocate using an AG source journal to State Activity but keep same Project ID
33June 2015
Grant Task 5 – Options when addressing OLT transactions - Step 2 Action 4
Reallocate using an AG source journal to State and not associated to a Project…
34June 2015
Grant Task 5 – OLT’s
If you see the light bulb –
it’s a reminder !! TN_GR19_OLT_CHECK query
Run weekly and address promptly OLT transaction cannot be partially adjusted – all OLT
transactions must be adjusted Not correcting OLT transactions WILL cause a
difference in expenditures and revenue for specific period(s) and for state years
35June 2015
Grant Task 6 – Identify and resolve errors in Revenue Recognition
Overview:
Step 1: Identify Customer Contracts which have revenue recognized to wrong activity and take corrective action.
Step 2: Resolve other errors in revenue recognition
Step 3: Recognize revenue and expenditures in the same year to avoid improper SEFA reporting.
36June 2015
Grant Task 6 – Identify and resolve errors in Revenue Recognition Step 1: Identify Customer Contracts which have revenue recognized to wrong activity and take corrective action.
Run TN_GR24A_REV_WRONG_ACTIVITY
Analyze
results
and make
corrections
as needed !
37June 2015
Grant Task 6 – Identify and resolve errors in Revenue Recognition Step 1: Identify Customer Contracts which have revenue recognized
to wrong activity and take corrective action. Example A
Agencies 31865 and 32801 have “STATE” Activity
which recognized
68001000
Federal revenue;
31865 has been
corrected
however,
32801
needs a
correction.
38June 2015
Grant Task 6 – Identify and resolve errors in Revenue Recognition Step 1: Identify Customer Contracts which have revenue recognized
to wrong activity and take corrective action. Example B
Agency 31865 has “PROGRAMINC” Activity which has
properly
reduced
68001000
Federal
Revenue.
39June 2015
Grant Task 6 – Identify and resolve errors in Revenue Recognition Step 1: Identify Customer Contracts which have revenue recognized
to wrong activity and take corrective action.
Revenue recognized to wrong activity could be avoided: By monitoring TN_GR27_RATE_SET_ERRORS on a
weekly basis or after activation of new grants into Edison.
By monitoring the “TN_GR03” query daily for the “STATE” activity appearing and billing – it should not appear unless it is correcting a previously billed error.
By monitoring the “TN_GL64_REVENUE” query looking for 68001000 on Projects with “STATE” activity.
40June 2015
Grant Task 6 – Resolve other errors in Revenue Recognition - Identify and resolve Revenue not
recorded to a CN Journal - Step 2Run query TN_GR_A07A_REVENUE_NOT_CREATED
41June 2015
Grant Task 6 – Resolve other errors in Revenue Recognition - Identify and resolve Revenue not
recorded to a CN Journal - Step 2
From the query create a pivot table and analyze…
Unrecognized revenue cannot be resolve if a Customer Contract has had it’s Contract Processing Status marked Cancelled or Superceded!
Closed Contracts cannot be undone!
42June 2015
Grant Task 6 – Identify and anticipate year-end effect of revenue recognized in a different year than
expenditures - Step 3Run query TN_GR06X_REV_EXP_IN_DIFF_YEAR
43June 2015
Grant Task 6 – Identify and anticipate year-end effect of revenue recognized in a different year than
expenditures - Step 3 cont.
Example:
44
Revenue Expenditure
June 2015
Grant Task 6 – Identify and anticipate year-end effect of revenue recognized in a different year than
expenditures - Step 3 cont.
Example of year-end effect of expenditures and revenue not being equal:
if an OLT transaction existed at year-end and was not addressedif revenue recognition stopped before expenditure related transactions were closedif Customer Contract was in a “pending” status at year end – when re-priced expenditures in one state year and revenue in another
45June 2015
Grant Task 6 – Identify and anticipate year-end effect of revenue recognized in a different year than
expenditures - Step 3 cont.Create a Pivot Table to see totals.
Remember SEFA pulls from revenue recognized through projects because it will result in a reconciling item.
46June 2015
Grant Task 7 – Identify and Resolve Indirect Cost (F&A) Errors
Run TN_GR28_SFA_COM_CNTRL_ERRS query
47June 2015
Grant Task 7 – Identify and Resolve Indirect Cost (F&A) Errors
Run TN_GR29_SFA_INTERACTIVE query
48June 2015
Grant Task 7 – Identify and Resolve Indirect Cost (F&A) Errors
F&A (Indirect Cost) Action Errors to fix E6 - Budget Date out of Bounds – change dates. E1 - Exceeds Budget Tolerance – increase budget or
move expenditures to a different project. AD - No Offset Associated Department – notify Edison
Grant team. RF - Funded or Institution Rate Percent not found –
insert rates on Federal Activity F&A page.
49June 2015
Grant Task 7 – Identify and Resolve Indirect Cost (F&A) Errors
F&A (Indirect Cost) If applicable expenditures moved – F&A/Indirect
cost charges move if automated F&A process is being used.
At year end all 89040000 (Indirect Cost Expenditures) and 89035000 (Contra Indirect Cost) accounts should equal.
All F&A errors to be cleared & Edison will stop automated F&A process on August 8th.
50June 2015
Grant Task 8 - Review and analyze projects not associated with a Customer Contract.
Run TN_GR22A_PROJ_NOT_ON_CONTRACT and analyze…
51June 2015
Grant Task 8 - Review and analyze projects not associated with a Customer Contract.
If reporting
project, it is valid
to pull on query.
If costs need to be re-allocated via GL JE, run query TN_PR101_PROJECT_COST_DETAIL to get details.
If Edison does reallocations – review to ensure values were reallocated.
52June 2015
Grant Task 9 - 6/13 & ongoing - Determine and resolve any Abnormal situations which exist or if “analysis types” have been incorrectly used.
Run query TN_GR23_ANL_TYPE_ABNORMAL
The Project “Activity” along with “Analysis type” should identify funding source.
53June 2015
Grant Task 9 – 6/13 & ongoing - Determine and resolve any Abnormal situations which exist or if
“analysis types” have been incorrectly used
Analyze looking for abnormalities….
Example - Abnormal situation: GLR with Expenditure Acct
54June 2015
Grant Task 9 – 6/13 & ongoing - Determine and resolve any abnormal situations which exist or if
“analysis types” have been incorrectly used
Other abnormalities…
55June 2015
Grant Task 9 – 6/13 & ongoing - Determine and resolve any abnormal situations which exist or if
“analysis types” have been incorrectly used Run TN_GR23A_JOURNAL_INQUIRY to obtain
information needed to process GL/AG journal Fix the abnormal combinations,
State Activity and GLE
Federal Activity and CGE
Rate Set Federal 68001, but Activity is NONGOV or INTERFED
56June 2015
Grant Task 9 – 6/13 & ongoing - Determine and resolve any abnormal situations which exist or if
“analysis types” have been incorrectly used
Analysis types to use only in GL/Interunit Journals GLE – General Ledger Expense CGE – Cost Share General Ledger Expense SJE – Statistical Journal Entry GLR – General Ledger Revenue IUR – Flow-through Interdepartmental Revenue SFA – F&A (Indirect Cost) Expenditure OFA – F&A (Indirect Cost) Contra Offset YAE – Year-End Accrued Expenditures YAR – Year-End Accrued Revenue
57June 2015
Grant Task 9 – 6/13 & ongoing - Determine and resolve any abnormal situations which exist or if
“analysis types” have been incorrectly used PROGRAMINC can automatically reduce the draw when
recorded on a JE or a deposit with Project ID, Federal Activity and analysis type “GLR” if agency is configured.
Valid
Program
Income
revenue
accounts:
58June 2015
Grant Task 9 – 6/13 & on-going - Determine and resolve any abnormal situations which exist or if
“analysis types” have been incorrectly used
PROGRAMINC returning as invalid value, but OK if agency is manually recording program income.
Example of manual reallocation journal of program income:
59June 2015
Grant Task 10 - 6/19 – 8/7 - Identify Project-related journals which have not posted
Identify Project-related Journals that have not posted This should be done each Friday through July 31st ! Done daily on these dates from Monday, August 3rd to Friday
August 7th. No reallocation JV/AG/EX journals for grants/projects can be
entered for state FY 2015 after August 4th !!!!
60June 2015
Grant Task 10 Identify Project-related journals which have not posted
Run TN_GR20A_JRNLS_NOT_POST_GR and analyze…
Check budget status Check processing status
61June 2015
Grant Task 10 – 6/19 – 8/7 Identify Project related journals which have not posted
1st - Check budget status E= error, N = has not been processed, V= valid
2nd - Check processing status: G= Pending, P= Approved to post, and
N = None (None can mean agency approvals not done or Div of Accts has denied – if the latter is the case the journal can be reworked and reprocessed)
62June 2015
Grant Task 10 - 06/19 – 8/7 Identify Project related journals which have not posted
Remember to include all open period dates Approve journals not approved by agency Evaluate if any have budget errors and resolve errors If interagency IU journals, email or call
corresponding agency Follow up on journals to determine why they are not
posted If Division of Accounts General Ledger group has
denied – they can be re-worked & re-submitted
63June 2015
Grant Task 10 -6/19 – 8/7 - Identify Project related journals which have not posted
Uploaded journals can cause problems in balancing. the total appears to balance, however the journal lines were NOT rounded to “two” decimal places causing the journal not to balance and process
64June 2015
Grant Task 10 – 6/19 - 8/7 - Identify Project related journals which have not posted
Journals could fail budget checking “No Budget Exists” on the PRJ_FDS_CH level…this means the budget item does not exist on the grant budget
65June 2015
Grant Task 10 -6/19-8/7 - Identify Project related journals which have not posted
Add the budget item (only five digits!) and change accounting date on Project Detail tab to before date of Journal failing budget checking!
66
Need to change accounting date to before JV date
June 2015
Grant Task 10 - 6/20-8/8 -Identify Project-related journals which have not posted
Validate the auto-reversing journals processed for year-end in the next state fiscal year and that no journals fail to post due to budget errors.
If an auto-reversing journal does not post – contact Division of Accounts General Ledger section.
67June 2015
Grant Task 11 – 6/19 & ongoing - Evaluate transactions that have not yet billed
Run TN_GR20_UNBILLED_TRANS_DETAILS query
68June 2015
Grant Task 11 – 6/19 & ongoing - Evaluate transactions that have not yet billed
Results of query TN_GR20_UNBILLED_TRANS_DETAILS
69June 2015
Grant Task 11 – 6/19 & ongoing - Evaluate transactions that have not yet billed
First use Query TN_GR20 to analyze Contract Status and Processing Status with use of Pivot Table
Any status other than “Active” will not bill or recognize revenue.
70June 2015
Grant Task 11 – 6/19 & ongoing - Evaluate transactions that have not yet billed
Then use Query
TN_GR20
to analyze
with Pivot
Table –
Billing
Status in the
Column
71June 2015
Grant Task 11 – 6/19 & ongoing - Evaluate transactions that have not yet billed
Analyze with Pivot Table - Put the Billing Status and Billing Analysis Type in the column then filter on Priced….
and
add
Acctg
date to
Row
BIL will bill - OLT (over the billing limit) will not bill!
72June 2015
Grant Task 11 – 6/19 & ongoing - Evaluate transactions that have not yet billed
Then use Query
TN_GR20
to analyze
with Pivot
Table –
Revenue
Recog
Status
73
C = Revenue processing has not yet
occurred
Distributed = Revenue has
been recognized & posted to GL
Generated = Revenue accounting lines have been created but not
posted to GL
Ignored = Revenue
will not be recognized
S = Revenue is in process None = Revenue has not been recognized
June 2015
Grant Task 11 – 6/19 & ongoing - Evaluate transactions that have not yet billed
Notes to Remember on queries ….
TN_GR20_UNBILLED_TRANS_DETAIL and
TN_GR03_BILLING_DETAIL Just because you delete the temp bill, the transactions
don’t go away If you have Federal project activity – Federal revenue normally has
been recognized & will appear on SEFA for year end Move transactions where no FEDERAL funds are available! DEF lines do not appear on the TN_GR20 but do on GR03 DEF lines do appear on TN_GR20_ELIG_UNBILLED_TRANS_DT
74June 2015
Task 12 – 06/26/2015 Reconcile pass-through Grants BLD
and Revenue (IUR/GLR)
Run TN_GR04_INTERDEPT_AR query for first eleven months…
75June 2015
Task 12 – Reconcile pass-through Grants BLD and Revenue (IUR/GLR) due 6/27 for IU billed
through May 31st Analyze results of query –
76June 2015
Task 12 – Reconcile pass-through Grants BLD and Revenue (IUR/GLR) due 6/26 for IU billed
through May 31st Does BLD and IUR equal?
If yes, the billed amounts of the invoices equal the IU revenue & Supplemental Schedule will be correct!
Does BLD and IUR not equal? If yes, validate all bills have been approved &
processed through Single Action. Create IU journals If invoice amount different from IU, does billing need
to be adjusted with a GL Journal to move transactions?
77June 2015
Task 12 – Reconcile pass-through Grants BLD and Revenue (IUR/GLR) due 6/26 for IU billed
through May 31stReview
query
Missing BLD transactions for C14AV for $1546.13 Could run TN_GR20_JRNLS_NOT_POST to identify
whether or not journal has been done If IUR amount was greater, check to see if IU journal has
been done, this query would also tell you where it is in process (pending, in budget error, etc.)
IU journal can’t be entered for less than $1,000.00!
78June 2015
Task 13 Last Day to enter Project Related Travel Expenditures – 06/30/2015
Last day for all travel expenditures with accounting dates of June related to Grants/Projects to be submitted.
Can I enter travel in July and date it with a June accounting date?....only if agency is reallocating on a journal entry travel that has already been entered.
79June 2015
Grant Task 14 New state FY year begins
Date Reminder on TN_GR03
July 1, 2015
Two sets of billing and revenue recognition begins State Fiscal Year 2016 begins
Two temp bills for each Contract/Grant if transactions exist in both state years
JV’s in an Adjustment Period are dated 6/30/2015!
80June 2015
Grant Task 14 New state FY year begins
Remember to BILL the PREPAIDS
that are June transactional accounting dates
with JUNE Billing date!
Can be done until the AR and Billing
modules close on July 13th!
81June 2015
Grant Task 15 and 16 – 7/10/15
Analyze Open Grant Items in AR
Query TN_AR18_OPEN_GRANT ITEMS
Repeat Task 1
Analyze Open On Account Items in AR
Query TN_AR18B_OPEN_OA_ITEMS
Repeat Task 2
82June 2015
Grant Task 17 - 7/10/15 Prepaids
Last day for the Creation and Processing of (Immediate Billing) Prepaids associated to Customer Contracts/Grants for deposits received in June or before!
Before the AR module closes, if you have a prepaid/advance at June 30th that you have collected and is associated to a Grant, it needs to be entered, billed, and deposit recorded to close the open immediate prepaid billing invoice item.
83June 2015
Grant Task 18 - Submodules Closed
July 13, 2015
All Edison submodules closed for FY2015
except for……..
Customer Contract – Revenue recognition F&A (Indirect Cost) automated processing
84June 2015
Grant Task 19 – July 27, 2015Grant Related Accrued Liability entries due
Last day for Accrued Liability entries 1. YAE is the analysis type on expenditure line only.
2. Journal Source – LA type journals
3. May need to increase grant project budget in order to enter the accruals.
4. Auto-reversing journals.
5. Associated revenue to Accrued Liabilities must be entered on an RA journal.
6. Division of Accounts gives detailed directions on LA’s on Job Aids web site.
85June 2015
Grant Task 20 July 31, 2015
Last day of entry of IU journals by creating agency related to projects/grants.
This is a very short window if waiting until the last minute to enter the IU journals. The agency creating
the IU needs to call and notify via email the secondary agency that an IU exists for them to
complete!
86June 2015
Grant Task 21 August 1, 2015
Evaluate and take action to resolve project/grant
related journals in the system which have not
been posted for FY15. Review for budget errors
and missing approvals.
87June 2015
Grant Task 22 – August 3, 2015Grant Related Accounts Receivable entries
by agency due
YAR is the analysis type on Revenue line only with Project ID
Journal source – RA type journals. Auto-reversing journals; be sure to validate auto-reversing
journals post and do not fail in budget checking. Division of Accounts gives detailed directions on RA’s on
Job Aids website Approvals by agency on these journals due by 08/04/2015
88June 2015
Grant Task 23 August 4, 2015
Last day for entry and submission by
secondary Agency on IU journals.
Take care of the impact to Projects/Grants where Customer Contracts may be near or at the billing limit; an agency does not want OLT transactions on the last day to do any project re-allocations!
89June 2015
Grant Task 24 August 4, 2015
Last day for entry of miscellaneous
JV/AG/EX journals to correct a
previous FY15 transaction
affecting Projects/Grants!
90June 2015
Grant Task 24 August 4, 2015
Temp bills related to June 30, 2015 prepaid expenditures should be approved before the AR module closes on July 13th if at all possible!
If not, miscellaneous journal will be needed if prepaids are billed after close of AR module. Run query TN_GR_A06_UTL_IN_NEXT_YR for
values to create the journal with NO project information & see Year End Closing document for example of journal.
91June 2015
Grant Task 25 August 4, 2015
Last day for agency approval of Accounts Receivable (source RA) journal vouchers against
Accrued Liabilities
92June 2015
Grant Task 26 - August 4, 2015Repeat Task #12 only through June 30th
Reconcile grants/project related interunit (IU) revenue with billings with an accounting date through June 30, 2015.
93June 2015
Grant Task 27 August 5, 2015
Last day of agency/business unit
APPROVALS
of miscellaneous
JV/AG/EX journals to correct a
previous FY15 transaction
affecting Projects/Grants.
94June 2015
Grant Task 28 August 7, 2015
Last day of APPROVALS
by Division of Accounts
of miscellaneous
JV/EX journals to correct a
previous FY15 transaction
affecting Projects/Grants
and IU journals.
95June 2015
Grant Task 29 - August 7, 2015Analyze grant related contra accounts for proper state year-end balancing and clear all errors on
F&A (Indirect Cost) processing. Run query TN_GR_A13_89040000_VS_89035000
96June 2015
Grant Task 29 - August 7, 2015Analyze grant related contra accounts for proper state year-end balancing and clear all errors on
F&A (Indirect Cost) processing. Run query TN_GR_A13_IDC_NOT_IN_BALANCE
97June 2015
Grant Task 29 - August 7, 2015Analyze grant related contra accounts for proper state year-end balancing on In-kind transactions.
Run query TN_GR_A13_89300000_VS_893010000
98June 2015
Grant Task 29 - August 7, 2015Analyze grant related contra accounts for proper state year-end balancing and clear all errors on
F&A (Indirect Cost) processing.
Normally any errors on F&A (Indirect Cost) processing are brought to the business unit and/or agency’s attention by the Edison Grant’s team on a daily basis to fix
If you have errors – Reference Task 7 for additional information
99June 2015
Grant Task 30 – August 7, 2015Perform Deferred Revenue analysis
Run TN_GL048_TRIAL_BALANCE_ACCT for Period “0” to get beginning balances Use 3500% (wildcard) to only get the deferred accounts
100June 2015
Grant Task 30 – August 7, 2015Perform Deferred Revenue analysis
Analyze trial balance to get amounts by grant deferred revenue accounts for period “0”
101June 2015
Grant Task 30 – August 7, 2015 Perform Deferred Revenue analysis
Run TN_GL66_LIABILITY_ENTRIES_PD
for each period and combine into a spreadsheet
102June 2015
Grant Task 30 – August 7, 2015Perform Deferred Revenue analysis
From the results, the source of the transactions which have been processed can be seen….
AR = Accounts
Receivable
BI = Billing
CN = Revenue
Recognition &
Utilization
JV = General
Ledger Journals
AL = Allocated Interest
103June 2015
Grant Task 30 – August 7, 2015Perform Deferred Revenue analysis
Create a pivot table to show the activity by period.
By adding Period“0” balance from the Trial Balance the current balance in Deferred revenue will be shown…
104June 2015
Grant Task 31 – August 7, 2015 Interest on Deferred Revenue accounts should be posted and Conversion (type) prepaids added to
Customer Contract(s) and processed. Refer to Grant Manual Section 4.2 for prepaid
creation. Don’t forget about Prepaids created for interest
earned on deferred revenue accounts. Conversion close of interest related prepaids has
to be done by Edison financials. Date validation due on Year-end Checklist
105June 2015
Grant Task 32 – August 8, 2015Contracts Module Closed
106
Customer (Revenue) contract module closed for FY 15 (revenue recognition for FY15 will NOT occur after this date)!
June 2015
Grant Task 33 – August 8, 2015F&A (Indirect Cost) Closed for FY15
F&A (Indirect Cost) Closed for FY 15 automated processing for FY15 closed (stops processing for FY15)!
107June 2015
Grant Task 34 – August 10, 2015Billing for FY2015 Stops
Last day for temporary bills on TN_GR03 with 2015 State Year accounting dates to occur!
108June 2015
Grant Task 35 – August 10, 2015Evaluate 2015 Journals
Evaluate miscellaneous JV/EX/AG journals which were NOT approved for FY15 transactions affecting projects/grants and delete the journals not approved.
Run query TN_GR20A_JRNLS_NOT_POST_GR
109June 2015
Grant Task 36 – Submit Schedule of Expenditures of Federal Awards (SEFA) and Supplementary
Information Schedule (SIS)September 18, 2015
110June 2015
For SEFA - Run query TN_GR06_SEFA_EXP
Grant Task 36 – Submit Schedule of Expenditures of Federal Awards (SEFA) and Supplementary
Information Schedule (SIS)SEFA report example….
111June 2015
Grant Task 36 – Submit Schedule of Expenditures of Federal Awards (SEFA) and Supplementary
Information Schedule (SIS)For Supplemental (SIS) Run query TN_GR06S_SEFA_SUPPL
112June 2015
Grant Task 36 – Submit Schedule of Expenditures of Federal Awards (SEFA) and Supplementary
Information Schedule (SIS)SIS – Supplemental Report example
113June 2015
Grant Task 36– Submit Schedule of Expenditures of Federal Awards (SEFA) and Supplementary
Information Schedule (SIS) Reconcile the SEFA and SIS to the GL and Federal Reports SEFA and SIS Reconciling Tips
Program Income transactions which automatically reduce the Federal draws do NOT have associated direct expenditures – run query TN_GR24A_REV_WRONG_ACTIVITY to easily identify the reduction of revenue by the income from Program Income.
TN_GR06X_REV_EXP_IN_DIFF_YEAR from Task 6 can help to identify expenditures and revenue recognized in different state years.
TN_GL048_TRIAL_BALANCE – gives all chartfield values114June 2015
Grant Task 36 – Submit Schedule of Expenditures of Federal Awards (SEFA) and Supplementary
Information Schedule (SIS)Example of part of a reconciliation between Expenditures and Federal Revenue – most of the differences are due to Refund of PY Federal Expenditures affecting 68001000 revenue; however Project ED0000CB13AAX13 is still out of balance….
115June 2015
Grant Task 36 – Submit Schedule of Expenditures of Federal Awards (SEFA) and Supplementary
Information Schedule (SIS)Note the difference between total Federal revenue and expenditures for the project is 68080005 Program Income Revenue which, when recorded, reduces Federal Revenue on project ED0000CB13AAX13. However the recording of Program Income 68080005 does not reduce total expenditures.
116June 2015
Grant Task 36 – Submit Schedule of Expenditures of Federal Awards (SEFA) and Supplementary
Information Schedule (SIS)
It is important when documenting the reconciliations for the SEFA and SIS reports that there is sufficient information to provide a trail that anyone can follow for the reconciling differences…..
117June 2015
Reminder ! Last date for requests for new FY16 speedcharts
for FY16 for July 1st is June 23rd! Submit 100% speedcharts updates separately than splits If “replicated to Cashiering must have an account and
allow extra time for reviewing by Division of Accounts If in-activating a speedchart – make sure the
speedchart/task profile is not a default for an employee – run HCM query TN_TL142A_EMPL_ACCTG_DEF
Can’t submit until Project ID/Grant is in system Submit to Jennifer Lewis & Beverly Bean
118June 2015
NOTE
Remember the Domino Effect…. As you do various steps, you WILL have to
recheck queries…..
119June 2015
Questions and Answers
120June 2015