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1 Banner Finance Presentation. 2 Agenda Banner Finance System Overview Banner Finance vs. Oracle Financial (Table comparison) Banner Finance Implementation.

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Presentation on theme: "1 Banner Finance Presentation. 2 Agenda Banner Finance System Overview Banner Finance vs. Oracle Financial (Table comparison) Banner Finance Implementation."— Presentation transcript:

1 1 Banner Finance Presentation

2 2 Agenda Banner Finance System Overview Banner Finance vs. Oracle Financial (Table comparison) Banner Finance Implementation Plan Banner Interfaces Customization Risks and Difficulties Questions and Answers

3 3 Banner Finance System Overview

4 4 Banner Finance – System Overview An online product which utilizes the Oracle Relational Database Management System (RDBMS) Can function as a stand-alone system or integrate with various Banner Systems, enables you to access information that already exists on any of the other systems Has both the functionality and flexibility to serve multiple users through a common database of financial information Not only responds to accounting requirement, but also addresses your need for strategic and operational information Provides a comprehensive, integrated financial management system that enables you to track, maintain, and process all of your relevant financial data

5 5 Major Features of Banner Finance Comprehensive Reporting – numerous standard hard copy reports and online inquiry forms Menu and Help Forms – to assist you with online documentation Online Data Entry – the system subjects the data to the appropriate validation test Validation Forms – flexibility to enter values that meet specific requirements, do not need to make any coding changes Maintenance Forms – allows to enter data with ease and assurance Audit Trail – provides for tracking data from point of entry through archiving Processing Rules – can format the processing rules for specific requirement, requires some coding User-defined Security – ensures that only authorized users can view and / or update certain data Online Documentation – comes with a dynamic help set to help you navigate through the system and its forms

6 6 Modules in Banner Finance 1.General Ledger 2.Purchasing and Procurement 3.Research Accounting 4.Accounts Payable 5.Accounts Receivable 6.Budget Development and Position Control 7.Fixed Assets 8.Store Inventory 9.Cost Accounting 10.Endowment Management 11.Investment Management

7 7 General Ledger Module Core of the Banner Finance System Supports complete Fund Accounting User-defined Chart of Accounts Rule-based processing User-specified security options Provides extensive financial information query capability

8 8 List of Banner Finance Ledgers General Ledger Operating Ledger (OPAL) Encumbrance Ledger Grant Ledger

9 9 Chart elements (C-FOAPAL) C = Chart code (1 character) F = Fund code (6 characters – 5 levels) O = Organization code (6 characters – 8 levels) A = Account code (6 characters – 4 levels) P = Program code (6 characters – 5 levels) A = Activity code (6 characters – 0 level) (optional) L = Location code (6 characters – 5 levels) (optional)

10 10 Banner Finance VS Oracle Financials

11 11 Banner Finance vs. Oracle Financials Banner Finance Oracle Financials 1.Structure of COA (FOAPAL) 1.Structure of COA Consists of 7 segments (Chart-Fund-Orgn-Acct-Prog- Activity-Location) Consists of 6 segments (Fund-Prog-Acct-Orgn-Controller- Institution) Consists of 37 characters (of which 12 are optional) Consists of 26 characters Allow several levels of hierarchy for each segment except Activity Code Has to define Parent / Child Segment Values, Rollup Groups and Summary Account Template Fund Type – links to user- defined fund codes, and provides a definition of each fund for proper categorization Not applicable

12 12 Banner Finance vs. Oracle Financials Banner Finance Oracle Financials Account Type – links to user- defined account codes, and provides a definition of each account Not applicable No code combinations, can use index code Has code combinations Pool accounts for budgetary control Summary Accounts for budgetary control

13 13 Banner Finance vs. Oracle Financials Banner Finance Oracle Financials 2.Operating Ledger Transactions of income and expenditure types would be posted to the income / expenditure accounts in the Operating Ledger and the control accounts in the General Ledger. General Ledger shows all the balance sheets accounts and the control accounts only. Has to refer to the Operating Ledger for details of the income and expenditure accounts. No Operating Ledger, all transactions are recorded in the General Ledger.

14 14 Banner Finance vs. Oracle Financials Banner Finance Oracle Financials 3.Bank Fund, Cash Account & Cash Interfund Accounts The Bank Fund is a special fund created to show the total cash and the breakdown of where that cash is deposited. The use of Bank Fund and Cash Interfund Accounts permits individual cash balances by fund and enables you to see the entity’s cash position in total. No bank fund is maintained. 3.Bank Fund, Cash Account & Cash Interfund Accounts

15 15 Banner Finance vs. Oracle Financials Banner Finance Oracle Financials 4.Research Accounting Module Enables you to track grants from the time you submit a proposal to a funding agency through the award and disbursement process. Enables you to perform accounting, reporting and billing functions after you receive a grant award. The Grant Inception to Date Report displays operating account information from the inception of a grant to the specified as of date. Not applicable

16 16 Banner Finance vs. Oracle Financials Banner Finance Oracle Financials 5.Accounts Receivable Feed data from the Banner Student, can refer to the system for individual records. Receipts are entered into the system by batch, have to refer to other system for individual records. Refunds to students are processed by the Accounts Receivable Section. Refunds to students were processed by the Payment Section.

17 17 Banner Finance vs. Oracle Financials Banner Finance Oracle Financials 6.Purchasing and Procurement The search function is less powerful The search function is more powerful (e.g. PRs & POs can be searched by description, buyers, etc.) The Document History Form – displays the processing history of purchasing and payment documents, identifies and provides the status of all documents in the processing path for the document you select. No such summary is available.

18 18 Banner Finance vs. Oracle Financials Banner Finance Oracle Financials 7.Accounts Payable With the soft copy of the bank statement from bank, bank reconciliation could be done automatically by the system. Bank reconciliation is done manually May enter more than one vendor invoices in one Invoice Document. One Invoice Document is for one vendor invoices only Need to determine which Bank Code to use when processing the invoices. Bank Code is required when issuing cheques.

19 19 Banner Finance vs. Oracle Financials Banner Finance Oracle Financials 8.Reporting Standard Reports from the system are inadequate and not informative. Standard reports from the system are more informative. No Financial Statement Generator Financial Statement Generator (FSG) – users may define financial reports as necessary to meet special reporting needs.

20 20 Banner Finance vs. Oracle Financials Banner Finance Oracle Financials 9.Others General Encumb. – able to encumber or reserve fund for future commitments without issuing POs.  To encumber or reserve fund for future commitments, need to issue POs. Users can choose whether to use document or commodity level accounting when inputting PRs, POs & invoices. Not applicable Committed encumb.are identified as having been rolled from the prior year & the amount of the encumb. when liquidated would be reflected in the Prior Year Encumb. Control A/C in the current year. No such distinction is maintained.

21 21 Banner Finance or Oracle Financials? Your Choice!

22 22 Banner Finance Implementation

23 23 Banner Finance Implementation 1.Initial Setup and Installation Hardware and Software set up 10 man-days Designed the COA in Excel file format and uploaded to the Banner Finance Database Tables Oct 2001 – Jan 2002 Developed and entered applicable validation table data in various modules Dec 2001 – Jan 2002 First test for the Banner Finance – before any approval and security set up Feb 2002 – Mar 2002 Revised the COA and initial set up of various modules Mar 2002 Remarks : Agreement with SCT was signed in July 2001, Banner Finance was implemented on 1 July Major TasksDuration / Time Spent

24 24 Banner Finance Implementation Major Tasks Duration/Time Spent Interfacing tasks and their testing  Vax Payroll System Banner Finance  Citibank Paylink ---- Banner Finance  E-payment & JETCO ---- Banner Finance Jan 2002 – Jun 2002 Set up in Accounts Receivable and testing of Interface from Banner Student Apr 2002 – Jun 2002 Report Development – ITSC to create various essential reports (around 30) that are not available in the Banner Finance 90 man-days Second test for the Banner Finance – after the approval and security set up Apr 2002 – Jun 2002

25 25 Banner Finance Implementation Major Tasks Duration/Time Spent 2.Training / Consultation Initial training Problem solving during implementation & Year end Data Conversion of GITD Aug 2001 – Apr 2002 Apr 2002 – Aug 2002 Jul 2002 – Oct Data Conversions Vendor, Commodity listings from Oracle Tables to Banner Tables Entered the outstanding POs in Oracle Financials to Banner Finance manually Mar 2002 – Apr 2002 July 2002

26 26 Banner Finance Implementation Major Tasks Durations Reviewed the forms and processes in various modules, classified into different categories Set up security and approval queue in the system Jan 2002 – Mar 2002 Mar Form and Data Securities

27 27 Banner Interfaces

28 28 Banner Interfaces Banner Student A/R to Finance Banner Alumni to Finance Banner Payroll to Finance (not yet implemented)

29 29 How to Interface? Student A/R Alumni Payroll Process (A) Interface Process to pass the transactions from corresponding modules to GURFEED table GURFEED Process (B) Interface Process to retrieve And validate the GURFEED Data and transform them into General Ledger and Journal Vouchers transactions Finance Rule Class FOAPAL Pass Retrieve (Note: GURFEED is a collector table through which all interfacing transactions to the Finance System are passed.)

30 30 Banner Student A/R to Finance Student Deposits  Hostel Deposit, Chinese Test Deposit  After a certain period, when a deposit is released or returned to the payee, the record will be converted to the Student Charges & Payments Student Charges and Payments  Laser Copies Fee, Hostel Fee, refund of Hostel Deposit Miscellaneous Charges  Transactions other than Student Deposits & Student Charges and Payments

31 31 Banner Student A/R to Finance Run a data extraction process to feed Student A/R data to GURFEED table Run a data retrieval process to get data from GURFEED table and insert them to the Ledger and Journal Voucher Tables Student A/R Interface Process A/R Transactions (1) GURFEED (2) Finance Interface Process Ledgers and Journal Vouchers (3)

32 32 Banner Alumni to Finance Gift and Payments  Actual hard accountable dollars that are received by the institution Pledge  A promise to give money Due Payments  Actual hard accountable dollars  Used within the Membership portion of the system to pay for the various membership programs

33 33 Banner Alumni to Finance Run a data extraction process to feed Alumni data to GURFEED table Run a data retrieval process to get data from GURFEED table and insert them to the Ledger and Journal Voucher Tables Alumni Interface Process Alumni Transactions (1) GURFEED (2) Finance Interface Process Ledgers and Journal Vouchers (3)

34 34 Banner Payroll to Finance Encumbrance Actual Payroll Position Budget

35 35 Banner Payroll to Finance Run a data extraction process to feed Budget and Actual Expense to GURFEED table Run a data retrieval process to get data from GURFEED table and insert them to the Ledger and Journal Voucher Tables Payroll Interface Process Payroll Budget & Actual Expense (1) GURFEED (2) Finance Interface Process Ledgers and Journal Vouchers (3)

36 36 Banner Interfaces Summary “Pass and Retrieve” Interfacing Processes  Student A/R, Alumni, Payroll “pass” the data to a table for interfacing i.e. GURFEED table  Finance “retrieves” the data from the GURFEED table and transforms them into General Ledger and Journal Voucher transactions Rule-Based Processing  Define the FOAPAL for the rule class. The rule class then selects the appropriate account (FOAPAL) for liquidating General Ledger or Operating Ledger account balances

37 37 Customization

38 38 Customization Reasons:  Banner’s reports are relatively inadequate and not perfectly fit the needs of Lingnan  Develop a more user- friendly interface to download/ upload records from/ to Banner Finance

39 39 Customization by Lingnan Oracle Report (Oracle Developer)  Management Reports in PDF or Excel format Excel Data File Generation Program (Visual Foxpro) File Upload Program (Visual Foxpro)  Journal Voucher Batch Upload Print Report Program (Visual Foxpro)  Print Bank Checks, Budget Balance Report, etc. Web Report (HTML, Javascript, PL/SQL)

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46 46 Risks and Difficulties

47 47 Risks and Difficulties with Banner Finance Due to the limited supply of manpower and time, we were not able to arrange for the parallel run. Not enough testing for the COA, problems arose after the implementation. The SCT consultants were not well prepared for the training session and were not helpful in solving our problems. Training material were inadequate and we had to download the user manuals from the Banner website, which was extremely time consuming and confusing. The system cannot handle Chinese characters. Difficult to avoid the creation of duplicate Banner ID. Causes changes in workflow and re-allocation of job duties both within the Office of the Comptroller and among various departments. Electronic PR through the Web for Finance does not cater for commodity level accounting. Difficult to trace feed documents. Standard reports are inadequate and do not fit our requirements.

48 48 Q&A

49 49 The End


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