1. Medical School Year-End Information Session FY 2015

2. REVIEW EARLY & OFTEN 2 During the month of MAY review the transactions posted against your accounts in: RPT FR90, and DMAS/FRS DOLFIN -- FRS Transactional Cube WHAT WE NEED YOU TO DO

3. Cash Items Gift System Deposits –Cash & Check Donations Due Date: Friday, May 29 th, 10:00 AM Form of Submission: Donation Box at UMHC –Credit card donations  Online payments Due Date: Sunday, May 31 st, 11:59 PM Form of Submission: http://advancement.miami.edu/NetCommunity/Page.aspx?pid=343 http://advancement.miami.edu/NetCommunity/Page.aspx?pid=343  Non-web payments Due Date: Friday, May 29 th, 2:00 PM Form of Submission: Fax to Development Services (305) 284-2484

4. Cash Items All Other Cash Deposits Due Date: Wednesday, June 3 rd, 12:00 PM Form of Submission: Donation Box at UMHC  All documentation supporting the cash/checks deposits will be reviewed to determined the proper year in which the related revenue will be recorded

5. Expenditure Items Purchasing –Encumbrances  Review and notify Purchasing of any discrepancies Due Date: ASAP –Purchase Orders  Create new POs or change orders Due Date: Friday, May 29 th, 1:00 PM

6. Expenditure Items Steps to close a PO & release Encumbrance 6

7. 13. Type additional comments explaining why the PO needs to be closed. Note attachments are not required by Purchasing and may be utilized for personal records. 14. Click Submit to begin processing. 7

8. Expenditure Items It is critical that all cardholders reconciling transactions in the Corporate Account Reconciliation system (CAR), pays close attention to the mapping dates and the period that will be mapped. It is a common practice to map weekly during fiscal year end. The following link provides the dates for mapping to FRS and the mapping period. Any reallocation or splitting of charges must be done within the periods shown for fiscal year end. The following link provides the dates for mapping to FRS and the mapping period: https://umshare.miami.edu/web/wda/treasurer/Accounts%20Payable /Fiscal%20Year%20Ending/PCard_Mapping_Schedule_FY15.pdf https://umshare.miami.edu/web/wda/treasurer/Accounts%20Payable /Fiscal%20Year%20Ending/PCard_Mapping_Schedule_FY15.pdf 8 Purchasing Card

9. Expenditure Items Accounts Payable –Invoices  Invoices are to be sent to Gables One Tower, Suite 400, Locator Code 2943  Please mark “OLD YEAR 2015” or “NEW YEAR 2016” as applicable across the top of the invoice Due Dates: Tuesday, June 2 nd (Close 1.0) Friday, June 12 th, 12:00 PM (Close 2.0)

10. Expenditure Items Accounts Payable –eChecks/eBERFs  Must be in the ARIBA queue for approval by the submission deadline  The fiscal year for which the eCheck/eBERF will be processed is based on the date materials or services were received, or the date the expenditure occurred Due Dates: Tuesday, June 2 nd, 12:00PM (Close 1.0) Friday, June 12 th, 12:00 PM (Close 2.0)

11. Expenditure Items Accounts Payable  Final FY2015 close of DEGA & A/P system Tuesday, June 16 th  If an invoice wasn’t sent to AP by the FY2015 cut-off date, and the expense relates to FY2015, Medical Finance can assist with recording the expenditure. Please refer to the “expense accruals” section for further instructions.

12. Expenditure Items DHRS/ Workday –Clear Payroll Default Accounts  These accounts must be at zero by year-end  Review and clear balances in these accounts by submitting salary transfers/corrections  If pay period occurred before Workday go live, please submit salary correction journal  If pay period occurred after Workday go live, please submit salary correction via Workday Due Date: ASAP

13. Expenditure Items DHRS/ Workday –Salary transfers/corrections  DHRS  Submit salary correction journal to Office of Research Administration, Gables One Tower, Suite 650, ATTN: Teresita (Tessie) Ramirez Due Dates: Wednesday, June 3 rd (Close 1.0) Thursday, June 11 th, 12:00 PM (Close 2.0)

14. Expenditure Items DHRS/ Workday –Salary transfers/corrections  Workday  Refer to Workday tips sheets for payroll accounting adjustments, at the following link: http://www.miami.edu/index.php/workday_hr/ training/tip_sheets/finance/ http://www.miami.edu/index.php/workday_hr/ training/tip_sheets/finance/ Due Dates: Monday, June 1 st, (Close 1.0) Friday, June 12 th, 12:00PM (Close 2.0)

15. Expenditure Items Workday – Payroll Accounting Adjustments IMPORTANT TIPS Initiated by the Cost Center Managers or the Finance Business Process Initiator Transmitted to the ORA office for review and approval When approved, data included in the FRS integration file Batches released into FRS For further details how to create payroll accounting adjustment, click link below: http://www.miami.edu/index.php/workday_hr/training/tip_sheets/finance/ http://www.miami.edu/index.php/workday_hr/training/tip_sheets/finance/ 15

16. Expenditure Items Restricted Gift Deficits –By year end no Restricted Gifts Accounts (7 accounts) can be in deficit –Options for curing deficits: 1.Transfer expenses from restricted gift accounts (7 accounts) to unrestricted accounts (1 or 3 accounts) 2.Receive additional gifts to cover deficit Due Date: ASAP

17. 17 Expenditure Items Accruing Non-comp expenses There could be a lag between the time services or goods are received and when the vendor invoice is received and processed. When expenses have been incurred but not yet recorded via the standard business processes, an accrual entry is necessary at fiscal year-end to recognize the expenses in the fiscal year during which the business transactions occurred.

18. Expenditure Items Expense accruals –Non-comp expenses  Please review your accounts online before submitting requests for expense accruals in order to avoid double charging of expenses  No accruals will be accepted until June 17 th, the day after A/P closes  If an invoice doesn’t get posted by A/P prior to final A/P close, please send your expense accruals to Medical Finance Submissions timeline: Wednesday, June 17 th thru Thursday, June 18 th Due date: June 18 th

19. Expenditure Items Expense accruals –Salary accruals  Compensation earned in FY2015 to be paid in FY2016  For more information, refer to incentive/bonus memo distributed by Medical Finance Due Date: Thursday, June 4 th

20. Expenditure Items AMC Taxes –Recorded in DOLFIN by Medical Finance  Updated after FRS Close 1.0, 1.5 and 1.75 –Recorded in FRS by Medical Finance  Will be posted Tuesday, June 23 rd  Departments will be notified via email

21. Revenue Items EPIC –EPIC Front Desk Module  Must be closed out and all batches must be balanced Due Date: Friday, May 29 th –Patient Refund Requests  All request must be submitted to Central Business Office in Gables One Tower Due Date: Friday, May 29 th

22. Revenue Items May IDCs –Distributed by Medical Finance  Tuesday, June 9 th after first sponsored overhead run  Trued-up on Monday, June 22 nd after final overhead run

23. Revenue Items Accruing Revenue There could be a lag between the time a sale of services or goods to a third-party is complete and when the invoicing is done and recorded in the general ledger or the payment from a third party is received and processed. When revenues have been earned but not yet recorded via the standard business processes, an accrual entry is necessary at fiscal year-end to recognize the revenues in the fiscal year during which the business transactions occurred. 23 All accrual journal entries should be supported by documentation showing completion of the sale of services or goods before the end of the fiscal year, and all journals should be appropriately reviewed and approved.

24. Revenue Items Revenue accruals –Non-EPIC revenue accruals  Ex: VA, other service agreements, etc.  Submit support for revenue accruals to your Medical Finance representative Due Date: Friday, June 12 th

25. Routine Journal Entries  Entries Between SOM and Hospitals  All support for corrections/adjustments between the SOM and Hospitals, for purchased service arrangements, must be submitted to:  Adriana Mera for UMH service  Elizabeth Salazarte for UMCH & ABLEH services Due Date: Thursday, June 4 th

26. Routine Journal Entries  Interdepartmental Requisitions (IDRs)  Submit your IDRs to Medical Finance for review and posting  Applies to all Interdepartmental charges regardless of the type of document (journal entry, interdepartmental requisition form, or Sponsored form FA-11) used to submit the charge Due Date: Monday, June 8 th

27. Routine Journal Entries  Correcting entries (within the same department)  Review monthly accounting reports from RDS and/or DOLFIN, as well as the on-line screens of the FRS and DMAS systems during the month of May  Submit entries to correct errors and omissions for FY 2015 Due Date: Thursday, June 11 th

28. Routine Journal Entries  IDC and AMC Tax Redistribution Entries  If applicable, please submit entries to redistribute IDCs and AMC taxes on June 23 rd  IDC final distribution takes place on June 22 nd and AMC taxes will be posted in FRS on the morning of June 23 rd  Please analyze your accounts in the afternoon and submit your entries by end of day Due Date: Tuesday, June 23 rd

29. Net Activity Balancing Entries Entry #1 – Department responsibility  Entries to balance Fund 10 (1 accounts) against Fund 21 (3 accounts)  Use Object Code 7199 for debit and credit side of the entry  No balancing entries will be accepted until June 25 th since entries will be posting in FRS all the way through June 24 th. Due Date: Friday, June 26 th, 12:00 PM

30. Net Activity Balancing Entries Entry #2 – Department responsibility  Entries to balance Fund 21 (3 accounts) against Plant Reserves (8 accounts)  For Plant Reserves with a Net Activity Deficit  Debit 8xxxxx–7116 & Credit 3xxxxx–7172  No balancing entries will be accepted until June 25 th since entries will be posting in FRS all the way through June 24 th. Due Date: Friday, June 26 th, 12:00 PM

31. Net Activity Balancing Entries Entry #3 – Medical Finance responsibility  Entries to balance Fund 21 (3 accounts) against Plant Reserves (8 accounts)  For Plant Reserves with a Net Activity Surplus  Final entries will be posted between Close 2.0 and Final Close based on Medical Center’s performance relative to budget Due Date: Friday, July 10 th

32. FRS Close Dates & Reports  FRS will close 5 different times throughout the close process for the Medical School  Department Income Statements will be available in DOLFIN after each close  Medical Finance will notify departments via email once Financial Statements are ready  RDS reports will be available after Close 1.0 and Close 2.0

33. FRS Close Dates & Reports  Schedule for Close Deadlines:  Close 1.0 (1st Prelim) – June 9 th at 4:00 PM; income statements available in DOLFIN late June 10 th  Close 1.5 (Interim) – June 17 th at 4:00 PM; income statements available in DOLFIN late June 18 th  Close 1.75 (Interim) – June 22 nd at 4:00 PM; income statements available in DOLFIN late June 23 rd  Close 2.0 (2nd Prelim) – June 24 th at 4:00 PM; income statements available in DOLFIN late June 25 th  Final Close (Field Final) – July 10 th at 4:00 PM; income statements available in DOLFIN late July 13 th

34. Other Helpful Information  Departmental Management Accounting System (DMAS)  Research transactions on the Web rather than FRS  10+ Years of Account Summary and Detail Information  Download Account Information to Excel  View Business Expense Reimbursement Form and Check Requisitions  Website: https://dmas.ir.miami.edu/DMAS/signon.asphttps://dmas.ir.miami.edu/DMAS/signon.asp  User Identification and Password the same as for FRS

35. Other Helpful Information