Mosaic Information Session. A look at the finance and research finance systems launching in December 2013. Introduction. Agenda. General Ledger , Chart of Accounts Commitment Control and Value-Added Tax Purchasing, Accounts Payable, and Reimbursements to Employees BREAK
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A look at the finance and research finance systems launching in December 2013
General LedgerChart of AccountsCommitment ControlValue Added Tax
Operating/ Ancillary/Specifically Funded
Fund (2) Account(6) Department(5) Program (5) = 18
e.g. 20 600001 10003 30006
Fund (2) Account (6) Department(5) Project (8) Project Activity (15) = 36
e.g. 85 600001 10858 10889805 Supplies
110000 – Accounts Receivable
600001 – Materials & Supplies Expense
450000 – Sales Revenue
Unique approach for AR BI due to remote and diverse business needs
Similar to today, the distributed nature of receiving payments will continue however with greater autonomy, responsibility and accountability in the distributed business areas.
The deposit entries will be completed locally, as well as the preparation of the physical deposit bag for the bank. Central finance will no longer need to recount or amalgamate the deposits.
Route ForInternal Approval
Review Account Activity
Expend against award
Submit to Sponsor
Create Project/ Award
Comply with Cost Allowability
Identify Need for Special
Comply with Assurances& Certifications