Presentation on theme: "Slide 1 FastFacts Feature Presentation March 5, 2009 We are using audio during this session, so please dial in to our conference line… Phone number: 877-468-2134."— Presentation transcript:
Slide 2 Todays Topic In todays session, well discuss: An overview of commitments. Defining commitments Using document numbers to identify commitments Researching commitments Identifying and resolving stuck commitments
Slide 3 Todays Presenter Art Kennedy Senior accountant for the Office of Financial Quality Control (FQC) in JHUs Controllers Office
Slide 4 Session Segments Presentation Art will provide an overview of commitments. During Arts presentation, your phone will be muted. Q&A After the presentation, well hold a Q&A session. Well open up the phone lines, and youll be able to ask questions. Art will answer as many of your questions as time allows.
Slide 5 Contact Us If you would like to submit a question during the presentation or if youre having technical difficulties, you can email us at: firstname.lastname@example.org email@example.com You can also send us an instant message! GoogleTalk – HopkinsFastFacts@gmail.comHopkinsFastFacts@gmail.com AOL Instant Messenger – HopkinsFastFacts MSN – FastFacts@jhu.edu
Slide 6 Survey At the end of this FastFacts session, well ask you to complete a short survey. Your honest comments will help us to enhance and improve future FastFacts sessions.
Slide 8 Agenda In todays presentation, well looking at: Identifying various types of commitments. Where to go to find more information on commitments. Tips for researching commitments.
Slide 9 Defining Commitment What is a commitment? An engagement to assume a financial obligation at some future date. (Websters Online Dictionary, 2009) At JHU, commitments might also be called: Encumbrances (legacy CUFS). Funds Commitments. Funds Reservations.
Slide 10 Helpful BW Reports BW Saved FavoritesBW Saved Favorites (http://www.controller.jhu.edu/H1/index.html) Non Sponsored Financial Summary Commitment Reporting Detail Sponsored Revenue-Expense Summary Payroll Commitments / Non Payroll Commitments Differences Summaries provide an overall view, a total for outstanding commitments, and drilldown capability. BW Saved Favorite Commitment reports provide details for ALL commitments. NOTE: Monthly distributed financial detail reports only contain commitments created in that month.
Slide 16 Determining PERNR Use FMZ3 to find the PERNR associated with a payroll commitment. Click Environment, then click Original Document. The PERNR displays in the Object ID field.
Slide 17 Nonpayroll Commitments Common examples Shopping carts Purchase orders Travel Other
Slide 18 Shopping Carts Shopping carts are funds reservations whose 10-digit document numbers start with 1. Once theyre approved, shopping carts become purchase orders. This shopping cart appears to be stucka shopping cart with this posting date would normally have become a purchase order by now (February 2009).
Slide 20 Stuck Shopping Carts Although shopping carts can sometimes become stuck, departments can usually delete shopping carts they no longer need. Departments should delete unneeded shopping carts, unless a PO has already been created. You can find instructions on deleting shopping carts on Supply Chains website ( http://ssc.jhu.edu/supplychain/ support.html ). http://ssc.jhu.edu/supplychain/ support.html FQC can help with further research.
Slide 21 Purchase Orders After a shopping cart has been approved, it becomes a purchase order. Purchase orders are 10-digit numbers that start with 2. There are various types of purchase orders. Purchase orders for large quantities (BLPO) and extended durations (SPPO) remain open until the final portion of the expense is recognized.
Slide 22 Researching Purchase Orders Use R3 transaction code ME23N (Display Purchase Order). Whats wrong with this purchase order?
Slide 23 Closing Purchase Orders If youre sure that a PO should be closed, contact PO Maintenance (firstname.lastname@example.org).email@example.com Your request must include the following. Purchase order number Vendor name Vendor number Assurance that no further goods or invoices will be received Reason for request to close PO For more information on the ME23N transaction, visit the Supply Chain Support site ( http://ssc.jhu.edu/supplychain/support.html ). http://ssc.jhu.edu/supplychain/support.html
Slide 24 Travel Travel commitments are used for business trips commitments The document number and subsequent reference number are also the TRIP transaction number. The first two digits specify the personnel area, and the remaining numbers are based on sequencing. For example, business trip commitments 150xxxxx belong to the Whiting School of Engineering You can research these commitments using R3 TRIP.
Slide 25 Identifying Stuck Commitments Stuck commitment – a commitment that will never be used and needs to be removed. Occasionally, commitments (e.g., payroll, shopping carts, purchase orders) become stuck. One way to identify these commitments is by the Posting Date.
Slide 26 Identifying and Resolving Stuck Commitments Departments responsibility Perform monthly reconciliation of BW financial statements to ensure that expenses have been appropriately charged. If a commitment remains open on your cost object indefinitely, try to determine the problem. Research commitments in R3. Financial Quality Control (FQC) can assist with research and help you resolve problems. firstname.lastname@example.org 410-516-3227
Slide 27 In Conclusion Todays presentation provided an overview of identifying and researching various types of commitments using R3 transaction codes. It also discussed stuck commitments and showed you how to resolve these issues. Although we were using a non sponsored cost object for this session, the same procedures and transactions apply to sponsored programs. Grants cannot be closed with open commitments.
Slide 28 Resources To determine which roles are associated with the transactions discussed today (FMZ3, FMX3, ME23N, and TRIP), visit: http://www.jhu.edu/hopkinsone/Support/documents/RoleMatrix.xls Financial Quality Control – Controllers Office email@example.com 410-516-3277
Slide 29 Q&A Were going to open the phone lines now! There will be a slight pause, and then a recorded voice will provide instructions on how to ask questions over this conference call line. Well be answering questions in the order that we receive them. Well also be answering the questions that were emailed to us during the presentation. If theres a question that we cant answer, well do some research after this session, and then email the answer to all participants.
Slide 30 Thank You! Thank you for participating! We would love to hear from you. Are there certain topics that you would like us to cover in future FastFacts sessions? Would you like to be a FastFacts presenter? Please email us at: firstname.lastname@example.org
Slide 31 Survey Before we close, please take the time to complete a short survey. Your feedback will help us as we plan future FastFacts sessions. Click this link to access the survey… http://connect.johnshopkins.edu/fastfactssurvey/ http://connect.johnshopkins.edu/fastfactssurvey/ Thanks again!