Presentation on theme: "Accounting Process by Office of Financial Services (OFS) What is this and what do you need to know about it? Click on each slide to advance Use Escape."— Presentation transcript:
Accounting Process by Office of Financial Services (OFS) What is this and what do you need to know about it? Click on each slide to advance Use Escape key to exit
What are Accounting Codes? Accounting codes are identifiers used to capture financial information… They make sure your purchases and expenses are identified correctly and paid from the right pot of funds.
How does this work? 1 st - Office/Division needs goods/services Decide type of purchase, who pays, how to code? Make the purchase or expense Receive goods/services Notify OFS 2 nd - OFS gets bill (from Vendor or Office/Division) Record the transaction Pay the vendor Get money from source identified by Off/Div Report how the money was spent
Why is that important? If the information is wrong….. –Payment can be delayed –The State could lose Federal funds –People have to do extra work to correct & reconcile –Accounting records will be wrong If you dont have time to do it right the first time, when will you ever have time to fix it?
What codes are used? (Use the Enter key to see the list) Class – A grouping of accounts at the state level Account – What the money was used for? –(supplies, travel, etc.) OPB Sub Program – The budget category Department ID – Who spent the money? –(DFCS, OFS, ORS, etc.) Project Code – What area of activity was affected? –(Food Stamp benefits, State, Child Care, etc.) Fund Source – Where should the money come from? –(State, 08 Energy Assist, 09 TANF, etc.) Begin & End Dates – When did the expense occur? (End of list – press Enter to go to next screen)
Class & Account Where is this located? OFS Website/Tools –The Chart of Accounts What does it look like? Description Class Account –Regular Salaries 300 501001 –Retirement ERS 300 515001 –Cost of Goods Sold 301 610001
OPB Subprogram & Department Project & Fund Source Where is it located? OFS Website/Tools –The Department ID Manual What does it look like? OPB Div/Off Desc. Dept. ID Sub-Pgm Project Fund Source DFCS OFI-Elig F/S 4276911109 2014001 20106001 20161 DFCS Foster Care 4276702106 2010102 60013001 01 OFS EBT TANF 4275742241 2010103 13919001 10591
How to use the Department ID Manual Click on the down arrow in Column B to see all Sections in the list. Uncheck the Select All box, click on the box that has the section you need and click OKAY. Div/OffSectionDescriptionDept ID OPB-Sub Program Project Code SELECT ALL LONG TERM CARE HEALTH CARE RESIDENTIAL CHILD CARE OKAYCANCEL
How to use the Department ID Manual (cont.) To further refine your search, using the Description column –Check the box(es) for the description within the Section column that you have already selected. Uncheck the columns in reverse order. Div/OffSectionDescriptionDept ID OPB-Sub program Project Code Start Date End Date Fund Source ORSHEALTH CAREHealth Care-CLIA 427573484520127024272211900110/01/0809/30/0911498 ORSHEALTH CARE Health Care-CLIA-Waiver Project 427573484620127024272211900210/01/0809/30/0911498 ORSHEALTH CAREHealth Care-CLIA-Training 427573484720127024272211900310/01/0809/30/0911498
Dont save the Dept. ID Manual to your computer….it is updated frequently.
Error reduction through teamwork! Call OFS if you have any questions. Use the OFS Contact List on this website to find the appropriate phone number. SCORE!!!!