The TxEIS How To Guide Series. TxEIS Finance. How to: SET UP FINANCE. Developed by the TEXAS COMPUTER COOPERATIVE

Transcription

1 The TxEIS How To Guide Series TxEIS Finance How to: SET UP FINANCE Developed by the TEXAS COMPUTER COOPERATIVE

2 Copyright 2015 by Texas Computer Cooperative All rights reserved 1314 Hines Avenue San Antonio, TX

3 Table of Contents Overview... 3 Prerequisites... 3 Checklist Overview... 3 Add District Information... 5 Set District Options... 7 Set up Finance Options... 7 Indicate Accounting Periods... 7 Build Default Account Code Tables Run the Default to PEIMS Codes Utility...11 Add Account Codes...12 Create Clearing Fund Accounts Create Chart of Accounts Create Bank Account Fund Groups Build Cross-Reference Table Build 1099 Object Codes Table Add Vendor Information Conclusion

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5 Overview This guide provides an overview of how to set up the Finance application in order to begin productive use of the TxEIS Business system. Perform the listed steps prior to performing any tasks in Finance. Prerequisites This guide assumes you are familiar with the basic features of the TxEIS Business software and have reviewed the TxEIS Business Overview guide. For more detailed information about individual fields, please see Help in the TxEIS Business system. This guide is based on TxEIS Checklist Overview The following steps are covered in this guide: Add district information. Set district options. Build default account code tables. Create clearing fund accounts. Create a chart of accounts. Create bank account fund groups. (Optional) Build an Asset Management cross-reference table. (Optional) Build the 1099 object codes table. (Optional) Add vendor information. 3

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7 Add District Information In the District Administration application use the District Information page to record demographic information for the district such as the district name, address, phone number, fax number, and superintendent name. District Administration > Tables > District Information > District Name/Address Type the necessary data in the demographic fields, and click Save. 5

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9 Set District Options In Finance, use the Finance Options and Accounting Periods tabs to set the appropriate default finance options for the district. Set up Finance Options Complete the required parameters to set up the district finance records. Finance > Tables > District Finance Options > Finance Options Complete the data in the necessary fields, and click Save. Indicate Accounting Periods Indicate the current (open), next, Purchasing, and Accounts Receivable accounting periods. 7

10 Finance > Tables > District Finance Options > Accounting Periods 1. In the Current (Open) Accounting Period field, type the current accounting period. The field is a two-digit number from Notes: z The Current (Open) Accounting Period field is the period not yet closed. After running end-of-month processing, the current period is incremented by one. This feature prevents anyone from posting back to the closed period. z When you log on to the Finance application, the value in the Current (Open) Accounting Period field is used as the default accounting period for posting. z You cannot switch accounting periods (i.e., current or next) unless you have security access to do so. If the period is set to blank, no one can post any transactions. 2. In the Next Accounting Posting Period field, type the next accounting period. The field is a two-digit number from The period must be the same as or one month greater than the current accounting period. 3. In the Purchasing Accounting Period field, type the Purchasing accounting period. The field is a two-digit number from The period can be the same as the current accounting period or the next accounting posting period. 4. In the Accounts Receivable Period field, type the Accounts Receivable accounting period. The field is a two-digit number from The period can be the same as the current accounting period or the next accounting posting period. 8

11 5. Select Lock Current Accounting Period to close the current accounting period. When the field is selected, you can no longer post to the current accounting period. Note: It is recommended that posting to the current accounting period be restricted during the end-of-month closing process to ensure accurate updates of balances. 6. In the Accounting Period field, type a warehouse accounting period for each warehouse listed. The field is a two-digit number from The period can be the same as the current accounting period or the next accounting posting period. 7. Click Save. 9

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13 Build Default Account Code Tables Set up the default account code tables by running the Default to PEIMS Codes utility, or by manually adding account codes to the account codes table. Run the Default to PEIMS Codes Utility Run the Default to PEIMS Codes utility to build default account code tables. The required account code tables are created from previous PEIMS records. If current account code tables exist, you will be notified that there are existing codes, which will not be overwritten. Finance > Utilities > Default to PEIMS Codes 1. By default, the Default to PEIMS Codes field is not selected. To verify that you want to start the Default to PEIMS Codes utility process, you must select Default to PEIMS Codes. 2. Under Default Obj.Sobj, complete the object and subobject codes for each of the following fields: z Budget Fund Balance (e.g., ) z Actual Fund Balance (e.g., ) z Interfund Due From (e.g., ) z Interfund Due To (e.g., ) 3. Click Execute. You are prompted to continue copying the data from PEIMS to Finance. Click Yes to continue. The data is copied from PEIMS to Finance. 11

14 Add Account Codes Instead of running the Default to PEIMS Codes utility, you can use the Account Codes page to manually add the default account codes. Finance > Tables > Account Code 1. Click +Add to add a new row. 2. Complete the necessary fields. 3. Click Save. 12

15 Create Clearing Fund Accounts The Clearing Fund Accounts tab allows you to Create the default clearing fund accounts that are used for the posting pages. Finance > Tables > District Finance Options > Clearing Fund Maintenance 1. In the Codes for Fiscal Year field, the default value is the last digit of the current fiscal year (e.g., for fiscal year , the value should be 5). Select a different fiscal year, if necessary. 2. Select All Computer Checks to Finance Clearing Fund in Bank Recon to display all computer checks on the Finance > Maintenance > Bank Reconciliation page. Leave blank to filter computer checks by bank account group. Cash receipts and district checks posted to funds other than the clearing fund will not be affected by the flag and are always filtered by the bank account group. 3. In the Finance Clearing Fund/Fiscal Year field, type the clearing fund code and the fiscal year. The clearing fund code must be a three-digit number with the first digit beginning with 1, 4, or 8, and the fiscal year code is a one-digit code that is the last digit in the fiscal (school) year (e.g., 864/5). 13

16 4. In the Payroll Clearing Fund/Fiscal Year field, type the payroll clearing fund code and the fiscal year. The payroll clearing fund code must be a three-digit number with the first digit beginning with 1, 4, or 8, and the fiscal year is a one-digit code that is the last digit in the fiscal (school) year (e.g., 863/5). If the original value (before changes) is the same as the Human Resources > Tables > District HR Options payroll clearing fund/ year, a warning message is displayed. You are responsible for changing the HR options. 5. Under Finance Automatic Posting Defaults: z In the Cash Account field, the default four-digit object code is 1110, and the default two-digit subobject code is 00. z In the Payable Account field, the default four-digit object code is 2110, and the default two-digit subobject code is 00. Note: Do not make the Payable Account object/subobject code the same as the Due To object/subobject code ( ). z In the Accounts Receivable field, type the object and subobject codes for use when Account Receivable transactions are created. z In the Overpayment Account field, type the fund, fiscal year, object, and subobject codes to use when Accounts Receivable overpayment transactions are created. The fiscal year is set to the year indicated in the Current Finance Fiscal Year field on the Finance > Tables > District Finance Options > Finance Options tab. 6. Under Payroll Automatic Posting Defaults, you can type or edit the four-digit object and two-digit subobject codes. 7. Click Save. 14

17 Create Chart of Accounts Use the Create Chart of Accounts page to create the list of valid accounts in a chart of accounts. No amounts are entered and no additional records are created when the account is built. Accounts can be deleted if there are no transactions. The Description and Activate/ Inactivate fields can also be changed. Notes: When creating the new funds for the next year, do not duplicate any funds that are inactive here. An option is available in the Budget application when updating from the general ledger to use active only or active and inactive. When adding an account, the account description is set to the description for the object code. If the first digit of the object code is 6, the function code cannot be 00. Alphanumeric code components can be used in subobject, educational span, and project detail components of the account code. Maintenance > Create Chart of Accounts 1. Click +Add to add a row. 2. In the Account Code field, type the new account number, or with the cursor in the field, press F2 and select the desired components for the account code. 3. In the Description field, type the new account name. 4. In the Active/Inactive field, select A Active or I Inactive. 5. To update the Description field, click Refresh Description after an existing account code is entered. The object code description is populated from the Object tab. 15

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19 Create Bank Account Fund Groups The Bank Account Group Funds tab allows you to create multiple group funds for each bank account. This step is optional. For each of the individual funds created, you can have multiple investment and cash object/subobject combinations. You can change between bank groups and also have the ability to edit records. An error message is displayed if a fund is duplicated. Each new fund code is automatically added to the Fund/Fscl Yr field on the Cash Object and Investment Object tabs. Finance > Tables > Bank Account Fund Groups > Bank Account Group Funds 1. In the Group Code field, select a bank account group code from the list. 2. All fund codes and years that exist for the group code are displayed in the Fund Code(s)/Year(s) Assigned field. Select a fund from the list. The noneditable fund description displays the name of the selected fund from the Account Codes table. 17

20 3. Click Refresh Tabs to refresh the Group Code field on each of the Bank Account Group, Cash Object, and Investment Objects tabs if the group code is changed or if a new group code is added. You do not need to exit that page to make changes and refresh the page. 4. To add a row, click +Add. 5. Click Save. 18

21 Build Cross-Reference Table Use the Asset Management Cross-Reference page to create the Asset Management crossreference table to use the object and subobject codes of the account numbers to identify assets that are considered either capital assets or inventory. This step is optional. When a purchase order is processed for payment, items that were purchased under matching account codes are identified by the system for inclusion in the Extract to Asset Management utility. Tables > Asset Management Cross-Reference 1. Click +Add. 2. In the Object/Subobject field, type the four-digit object and the two-digit subobject codes for each item tracked by the Asset Management application. 3. The Object Description field is automatically generated when you click Save, and display only. 4. In the Type field, select the asset type. 5. Click Save. 19

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23 Build 1099 Object Codes Table On the 1099 Object Codes page, you can establish the 1099 object codes table to relate object codes that are appropriate for 1099s to the box numbers on the 1099-MISC forms. When the table is populated, 1099-eligible vendors and transactions that match these object codes are selected when the 1099 work table is created. If the 1099 Object Codes table is left blank when the 1099 work table is created, all transactions are selected from 1099-eligible vendors for file ID C and the Previous File ID field, designated on the Finance Options tab in file ID C. Currently, object codes that begin with 2, 6, or 8 can be used in the table (e.g., 2XXX, 6XXX, and 8XXX). This step is optional. Tables > 1099 Object Codes 1. To add a row, click +Add. 2. In the Object Code field, type or select an object code. Note: The object code must exist in the Object tab on the Account Codes page. 3. The Object Description field displays the description from the Object tab on the Account Codes page. 4. In the Type Payment field, select a code, or type the first letter of the 1099 box code of the transaction that should be printed in the field (e.g., R = Rent). Review the instructions for each box code in the Instructions for Form 1099-MISC on the IRS Web site (go to 21

24 5. To update the Object Description field, click Refresh Description after an existing object code number is entered. The object code description is populated from the Object tab. 6. Click Save. Note: If 1099 transactions exist for objects you do not want to collect, you can delete the object code from the 1099 Object Codes table, and the associated transactions are not included on the 1099-MISC forms or the 1099 file, but are still displayed on the 1099 Report and the 1099 Record Maintenance page. When transactions display on the 1099 Report that are not to be included on the 1099-MISC form, no description is displayed in the Payment Type field on the report. 22

25 Add Vendor Information Establish and maintain a file for each vendor doing business with the school district. You can activate or deactivate a vendor, delete a vendor (if no outstanding transactions are pending), and maintain vendor status or eligibility for doing business with the district. Maintenance > Vendor Information 1. To add a new vendor, click Add. The Vendor Number (if not automatically assigned) and Vendor Name fields are required. 2. Complete the necessary fields to create the vendor record. 3. Click Save. 23

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27 Conclusion You have completed the process of setting up the necessary Finance data, which will assist you in effectively using the Finance application in the TxEIS Business System. For more information about individual fields or pages, please see Help for that page. 25

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