1. Introduction to University Accounting BTFA01
The Florida State University Controller’s Office &
University Business Administrators Present:
Introduction to University Accounting BTFA01

2. Class Objectives
OMNI – Gain an understanding of what OMNI is and how it relates to the fiscal operations at FSU.
Chartfields – Define chartfields and discuss what purpose they serve when it comes to financials.
Ledgers – Define ledgers and discuss what they are used for at FSU
Journal Entries – General definition of journal entries and how they are performed at FSU.
Resources - Where to find university related financial information.

3. What is OMNI? Online Management of Networked Information
Enterprise Resource Planning (ERP) system implemented to best meet FSU’s financial & human resources administration needs.
Implemented in 2004 to replace FLAIR
Developed using PeopleSoft software, a product of Oracle Corporation

4. myFSU Portal Page

5. myFSU Portal Page Financials Focus of this class
Stores all financial information of the University, including areas such as budget, general ledger, procurement services, inventory and reporting tools
Human Resources – Used for Time Entry, benefits information, training signup, job applications, etc.
myFSU BI– Covered extensively in the BTFA02 Financial Reporting Tools class
OMNI e-Market – OMNI online shopping module maintained by Procurement Services
FSU Service Center – All Help “tickets” (or “Cases”) maintained here
Employee Central – Offers quick access to widely used OMNI modules as well as training materials and key websites
E-ORR – Online Role Requests – Interface used to request/approve OMNI and other systems access
Listed under Student Central

6. OMNI Financial Modules
OMNI is a “modular application”
A software or application framework that supports multiple modules
Module – A self-contained, separate but smaller component
SOME examples of OMNI Modules:
Accounts Payable
Procurement Services
Travel
Commitment Control (Budget)

7. ChartFields
ChartField - A means of breaking down accounting transactions within the system in order to organize and report on the data contained in OMNI.
Which three ChartFields are required for ALL transactions in OMNI?
Department ID
Fund Code
Account
Project ID is also a REQUIRED chartfield for Sponsored Research (C&G) projects and construction activity.
Navigate to: Financials 9.1>Set Up Financials/Supply Chain>Common Definitions>Design Chartfields>Define Values>Chartfield Values

8. ChartFields Department ID
Area of financial management at FSU
Field is 6 digits
First three digits refer to an academic, administrative, or other major area.
Last three digits refer to cost center with the area.
Specific department information or a complete listing of FSU departments can be obtained by running the FSU_DPT_CODES_DEPTID query.
Athletics
Football

9. ChartFields Fund Code
A fund identifies the source of monies that are used in a transaction
Each fund may have different restrictions on its use
Often funds have different reporting requirements
Fund Code in OMNI is a three digit numerical code created by central University management
Major FSU Funds:
Education & General (E&G)
Fund 110
Current fiscal year appropriations from the State of Florida
Cash is maintained centrally by Budget Office, so cash balance in E&G departments will always be negative
Carry Forward
Fund 140
Prior fiscal year(s) E&G funds

10. ChartFields Fund Code Major FSU Funds (cont.):
Auxiliary
Fund 320 (generally)
Revenue generating business-type activities
Operate on a cash basis (spending is controlled based on their cash not budget)
Sponsored Research (aka Contracts & Grants or C&G)
Fund 5xx (excluding 510)
Grants and other research-related monies provided by government or private entities
Other commonly used funds include the Medical School (210/240), Construction (8xx) and Athletics (630)
Specific fund information or a complete listing of University funds can be obtained by running the FSU_DPT_CODES_FUND query

11. ChartFields Account
Used to record, summarize, and/or categorize financial transactions as assets, liabilities, equity (fund balance), revenues, or expenses
Two types of Accounts
BUDGETARY—record budget
NON-BUDGETARY—categorize transactions

12. ChartFields Account
The first digit is used to identify the type of account
FSU_DPT_CODES_ACCOUNT
Expense Account Short List

13. ChartFields Optional ChartFields
Allow departments to track expenses at a more detailed or customized level.
Three available (NOT hierarchical)
CHARTFIELD 1
CHARTFIELD 2
CHARTFIELD 3
Using optional chartfields consistently is key
Examples of current use: tracking spending by professor, course number, theater production
See the General Accounting FAQ for more information:

14. ChartFields Summary

15. * Some exceptions apply
Business Unit & Set ID
Business Units:
Operational divisions of FSU
Used in transactions and research
FSU has one primary Business Unit – FSU01*
A Set ID allows different business units to segregate or share information.
Used when creating chartfields or inquiring in OMNI
FSU’s standard Set ID is SHARE*
In OMNI, both Business Unit and Set ID MUST be identified
* Some exceptions apply

16. Fiscal Year & Accounting Period
The fiscal year for FSU is a twelve month period beginning July 1 and ending June 30
Fiscal months are referred to as periods
Fiscal Year
Acct Period
Calendar Month
2013 1
July 2012 2
Aug 2012 3
Sept 2012 4
Oct 2012 5
Nov 2012 6
Dec 2012 7
Jan 2013 8
Feb 2013 9
Mar 2013 10
April 2013 11
May 2013 12
June 2013
2014
July 2013

17. Ledgers
A ledger is a set of books that stores budgeting and/or accounting transactions.
Detailed information is usually stored in smaller (subsidiary) ledgers
Subsidiary ledgers are often summarized and permanently recorded (posted) to one primary ledger called the GENERAL LEDGER (GL)
FSU has two main types of ledgers:
Actuals
Commitment Control

18. Actuals Ledgers Contains actual (non-budgetary) financial information
Used to monitor account activity by a particular department, unit, school, etc.
Starting point for the preparation of the University’s Financial Statements and other compliance required reporting

19. Commitment Control (“KK”) Ledgers
THE BUDGET
Provides a mechanism for controlling expenditures against a pre-defined spending limit, by budgetary account
Can check requisitions, purchase orders and other types of transactions, identify exceptions and give appropriate notification to help monitor available budget balances for both project (C&G/Construction) and non-project transactions.
Budgetary accounts are sometimes referred to as “header accounts”
Budget and Analysis Office

20. Commitment Control Ledgers
Non-Project
Revenue Budgets (Auxiliary only)
Expense Budgets (All types)

21. Commitment Control Ledgers
Project (Sponsored Research)
KKGMPAR – Parent
KKGMCHD - Child
KK = Commitment Control
GM = Grants Management
PAR = Parent
CHD = Child

22. Commitment Control Ledgers

23. Commitment Control
Q: What does every ‘budget manager’ want to know…all the time? A: How much money do I have left to spend?

24. Commitment Control Navigation: Budget Details
Commitment Control > Review Budget Activities > Budget Details
Example:
Ledger group: CC_EXP_GRP
Account: (can leave this blank to receive a search result with all budgetary accounts)
Department:
Fund: 110
Budget Period: (only search current Fiscal Year as previous years will have inaccurate balances)

25. Commitment Control SAVE, then SEARCH Navigation: Budgets Overview
Commitment Control > Review Budget Activities > Budgets Overview
Example:
Inquiry name: Type in your name
Description: Expense account code balances
Ledger group: CC_EXP_GRP
Type of Calendar: Detail budget period
From budget period: 2013
To budget period: 2013
Account: %
Department:
Fund: 110
SAVE, then SEARCH

26. Commitment Control SAVE, then SEARCH Navigation: Budgets Overview
Commitment Control > Review Budget Activities > Budgets Overview
Example:
Inquiry name: Type in your name
Description: C&G budget
Ledger group: KKGMCHD
Type of Calendar: Detail budget period
From budget period: MULTI
To budget period: MULTI
Project:
SAVE, then SEARCH

27. Journal Entries
Journal Entries (JEs) record accounting transactions and MUST be in balance (Debits = Credits)
Information is input into FSU’s ledger by posting JEs from:
OMNI modules (subsidiary ledgers) like Accounts Payable or Asset Management
Third party systems
Systems other than PeopleSoft-based systems
E.g. Student Financial Services, Facilities, Telecommunications
Directly keyed (online) journals
Each Journal Entry in OMNI is assigned a unique Journal ID
Journal IDs
Ten Characters
Some have an alpha prefix used to help identify the purpose of the JE

28. Journal Entry Examples

29. Accounting Concepts for Journals
Debits and Credits vs. Account Types
Account          Type Debit    Credit     Assets (1 or 2xxxxx)           Increases          Decreases Liabilities (3 or 4xxxxx)         Decreases         Increases Income (Revenue) (6xxxxx)     Decreases         Increases Expenses (7xxxxx)          Increases          Decreases
INCREASE
DECREASE
DEBIT
ASSET
LIABILITY
EXPENSE
REVENUE
CREDIT

30. Basics of Journal Entries
Purchase of office supplies from a vendor:
Step 1: Record the purchase (invoice posting):
Debit - Expense (Office Supplies) $1,000
Credit - Accounts Payable $1,000
Step 2: Record the payment (cut check):
Debit - Accounts Payable $1,000
Credit - Cash $1,000

31. Basics of Journal Entries
Revenue Deposited with University Cashier
Debit – Cash $1,000
Credit – Revenue 6XXXXX $1,000

32. Resources
Controller’s Office website -
Forms
Frequently Asked Questions
Departmental Business Management Guide
Expense Account Lists
Departmental Query Listing
OMNI Training website -
Developed by ERP as a “one stop shop” for training resources
Includes online tutorials and job aids on a wide variety of topics

33. Resources Other central office websites Budget Office Human Resources
Procurement Services
Sponsored Research

34. Resources Recommended Listservs University email subscriptions
Useful listservs:
FinRep
OMNI-Financials
Fsupcard
Fsutravel
Accounts_payable

35. Contact Information
Lauren Barrett– Quality Assurance
Paul Harlacher – University Business Administrators
Slides available at: