Aurora Finance 100 Introduction to Aurora Finance - PowerPoint PPT Presentation

Loading...

PPT – Aurora Finance 100 Introduction to Aurora Finance PowerPoint presentation | free to download - id: 57b16f-NWE4M



Loading


The Adobe Flash plugin is needed to view this content

Get the plugin now

View by Category
About This Presentation
Title:

Aurora Finance 100 Introduction to Aurora Finance

Description:

Aurora Finance 100 Introduction to Aurora Finance Objectives At the end of this training session, you will be able to: Identify the elements of the new financial ... – PowerPoint PPT presentation

Number of Views:139
Avg rating:3.0/5.0
Slides: 28
Provided by: ErnieS2
Learn more at: http://umanitoba.ca
Category:

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: Aurora Finance 100 Introduction to Aurora Finance


1
Aurora Finance 100Introduction to Aurora Finance
2
Objectives
  • At the end of this training session, you will
    be able to
  • Identify the elements of the new financial
    information system, including Banner, FAST, and
    the Chart of Accounts
  • Use basic security rules
  • Use budget checking rules
  • Describe the main elements of the FAST finance
    reporting tool

3
Agenda
  1. Introduction
  2. System Overview
  3. Aurora Chart of Accounts - FOAP(AL)
  4. Security Setup
  5. Budget Checking
  6. FAST Demonstration

4
Aurora Finance Training Courses
5
What is Aurora Finance?
  • The Aurora Finance project replaced the
    Universitys previous mainframe accounting system
    (IMS) with a new financial information management
    system.
  • It includes
  • General Ledger
  • Accounts Receivable and Billing System
  • Purchasing/Payables
  • Budget Striking and Maintenance (FAST)
  • I.D. Charges
  • Capital Equipment Inventory System

6
System Overview
Telephone
Postage
Libraries
Bookstore
Purchasing
SIS
Accounts Payable
Accounts Receivable
Raisers Edge
FAST Reporting
FAST Budgeting
BANNER
G/L
Grants
Capital Equipment Inventory
VIP
Endowments
Special Functions
CORE
External Suppliers
EITS
7
How are budget codes constructed?
  • Budget codes consist of six elements commonly
    referred to as a FOAP(AL). The acronym is broken
    down as follows
  • F Fund Required 6 digits
  • O Organization Required 6 digits
  • A Account Required 6 digits
  • P Program Required 4 digits
  • A Activity Optional 6 digits
  • L Location Optional 6 digits
  • Normally 22 characters long, up to a maximum of
    34
  • Codes are no longer hard coded every element is
    variable, and can be used to create an infinite
    number of possibilities

8
FOAP What is it?
  • Fund SOURCE of income (Operating, Research,
    Grants, Endowment, etc.)
  • Organization WHO spent the money (Faculty,
    Admin Unit, Dept., etc.)
  • Account WHAT the money was spent on
    (expenditures supplies, travel, etc.) also for
    reporting income
  • Program PURPOSE of the expense or revenue
    (Academic, Administration, Research, Revenue,
    etc.)

9
FOAPAL Example
  • 110000 312000 700101 1100
  • General Deans Office Domestic Instruction
  • Operating Agriculture Airfare
  • Fund Academic



10
Coding of Transactions
Coding of Transactions
  • Often transactions will use the same FOP
    elements, and various Accounts

11
F O A P A L
  • Account
  • Identifies WHAT the money was spent on, the type
    of revenue, and also used to define assets and
    liabilities. In the IMS system, this was
    typically the Expense/Object Code.
  • There are 8 Account types
  • Assets
  • Liabilities
  • Control Accounts (never used for data entry)
  • Fund Balance
  • Revenue
  • Salaries, Benefits Pay Levy
  • Expenditures
  • Fund Transfers

12
F O A P A L
  • The main Account types that you will generally
    use are
  • Name Data Entry Prefix
  • Revenue 5
  • Salaries Benefits 6
  • Non Salary Expenses 7
  • 4 levels in the Account hierarchy
  • Data entry level (salaries, benefits pay levy
    Accounts only)
  • 5 digits
  • Data entry level (all other Aurora Accounts) 6
    digits

13
Helpful Hints
14
Helpful Hints (continued)
15
Aurora Finance Website
16
Security in Aurora Finance
  • Security is based on what forms and processes a
    user can access, as well as what Funds and Orgs
    they are responsible for. Each user will be
    authorized to access specific Funds or
    Organizations.
  • For example a person who needs Deans Office
    Agriculture will have access to Fund 110000
    (Operating Fund) and Org 312000 (Deans Office).
  • (continued)

17
Security in Aurora Finance, continued
  • A person can have both signing and posting
    capability or just query access.
  • FAST Budgeting and FAST Reporting use the same
    security setup as the Banner system.
  • Aurora does not provide security over the Account
    element. Hence any user can view and post to all
    Accounts (including salaries).

18
Security Example
  • If a person in the Deans Office Agriculture
    needs view and posting access, they will get
  • Fund Org
  • View 110000 312000
  • Posting 110000 312000
  • If the same person also needs the same access to
    a Grant in Food Science Agriculture, the
    following would be added
  • Fund Org
  • View 302550 312500
  • Posting 302550 312500
  • However, what they will end up with is the
    following
  • Fund Org
  • View/post 110000 312000
  • 302550 312500
  • 110000 312500
  • Because this person originally had view access to
    Fund 110000 (Operating), when they received
    access to Fund 302550 for the Research Fund, they
    also received access to the Operating Fund for
    Food Science (Org 312500).

19
Budget Checking
  • Budget checking occurs for the combined FOP.
  • Account is ignored, which allows you to be
    overspent in one Account (e.g. Printing) and
    under spent in another (e.g. Telephone, Equipment
    Rental) and still allow the transaction to be
    posted.
  • Only when the total FOP is overspent will a
    transaction be denied posting.

20
Budget Example
21
Budget Example, continued
Note Total Wages are overspent - A Budget
Adjustment should be done to cover this. Although
Account Type 7M is overspent, the transaction
was allowed to continue as the total FOP is under
spent.
22
Introduction to FAST
  • FAST - What is it?
  • Key features
  • How to access FAST
  • FAST Functionality
  • Demonstration of FAST

23
FAST What is it?
  • F.A.S.T. Financial Administration Support Tool
    (Millennium Computer Systems)
  • A dynamic, web-based budgeting and reporting tool
  • Downloads data from Banner, stores it in the FAST
    database, and presents financial information in
    an easy-to-read and understandable format
  • Replaces IMS screen FRGLA

24
Key Features of FAST
  • Web based
  • Point and click navigation
  • Drill down to transaction level detail
  • Comparative and date range views of data
  • Filter on any combination of FOAPAL elements
  • Report on any period or date range
  • Export to Microsoft Excel

25
Demonstration of FAST
26
Support Resources
  • Aurora resources
  • Training - sessions
  • - e-Learning
  • Website online help
  • Help desk 272-1555
  • Security (John Dinoto 9754)

27
Questions?
About PowerShow.com