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Basic Financial Workshop Available on Financial Services Website at Basic Financial Workshop Douglas G. Belliston Director, Financial Accounting and Reporting Kevin L. Walker, Director, Financial Solutions

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Basic Financial Workshop

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Basic Financial Workshop

Available on Financial Services Website at

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Basic Financial Workshop

Douglas G. Belliston

Director, Financial Accounting and Reporting

Kevin L. Walker,

Director, Financial Solutions

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The joint mission of all BYU Financial Employees:

  • Promote effective use of University’s resources

  • Protect the assets of BYU

  • Recognize our obligation to all University stakeholders who provide and use its resources

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Your Role in Internal Control

Control and protect university assets, and promote their effective use

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Why Control?

"Controls protect weak people from temptation, strong people from opportunity and innocent people from suspicion.“

(August1977 IIA magazine)

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Internal Control Basics

Segregation of duties:

  • Separate the request, receipt, payment and review functions

  • Dual signatures on all documents

  • Knowledgeable approver, different from buyer or requestor

  • Financial statement review by knowledgeable managers

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Are YOU an Effective Control?

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Financial Service Web Resources

FS Web page:


  • BYU homepage

    Faculty & Staff, General Services Financial Services

  • Bookmark it!

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Financial Services Web Page

Highlight Services Tab, Accounting sub-tab:

  • Controllers Desk Reference Questions

  • Funds

    Resources ($ support) that are classified into funds according to specified activities or donor objectives

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Financial Systems

  • PeopleSoft - accounting software

    • General Ledger, HR, Payroll, Purchasing, Receiving, Asset Management, Accounts Payable

  • Business Objects (BOb) – reporting software

    • Flexible tool across multiple systems via the Web

  • Extensity – travel approval and reimbursement

  • Kronos – time management

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Financial Systems – cont.

Other limited use systems:

  • Folio – searchable archived financial statements

  • Imaging – imaged financial documents

  • UCA – University receivable and billing system

  • Cashnet – cash and credit card processing

  • Purchasing Card “P-card” – limited use credit card purchasing tool

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Fund Accounting

Funds you will generally deal with:

  • 11 Budgeted—Support from Church

  • 13 Academic Related—Academic Businesses

  • 15 Auxiliary—Campus Business Operations

  • 19 Designated—Designated by Management

  • 23 Restricted—Restricted by Donors

  • 31 Endowment Income/Spending—

    Earnings from Endowments to be spent

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Speedtype 11241000 Fund+Chem Engineering

Account 6100 Supplies Expense

Class (optional)FLSKS various classes may be used

Speedtypes identify activities to be accounted for,8 digit long codes:

2 digit Fund number + 6 digit Department number -or-

An 8 character Project number, beginning with a letter (accounting system ties project to the fund automatically)

Accounts identifythe nature of the item purchased or received

Classes are optional user-defined identifiers

Speedtypes & Accounts

Example Transaction: 11241000-6100-FLSKS

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Payroll and Kronos

Hiring, the basics:

  • People may not work until formally HIRED

  • Employment must get notice of Terminations

  • Employee types:

    • Faculty and Administrative

    • Staff employees

    • Student hourly

    • Student assistant (contract)

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Payroll and Kronos

  • Staff Employees - must be paid for overtime over 40 hours per week

  • Student Hourly Employees - must be paid for hours worked, and OT if > 40 hrs/week

  • Kronos web based time entry and time clocks track hours worked

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Payroll and Kronos

Kronos System

  • Web based time entry:

    • Improved employee management and scheduling, identifies source of time recorded

    • Allows office-based students/staff to record time from their computers

    • Allows home-based workers to record time from home

  • Others will use Kronos clocks

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Payroll and Kronos

Management of Student time

  • Non-resident alien—limited to 20 hours per week by Federal regulation

  • U.S. resident students—limited to 20 hours per week by University policy

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Cash Controls atBrigham Young University

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Good Cash Controls Provide a Safer Workplace for Everyone

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Cash Controls – Safety Equipmentfor Those Handling Cash

Proper Documentation

Segregation of Duties

Custodianship of Cash Funds


Frequent Deposits

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Cash Controls are Strengthened when Combined

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Cash Controls

Safekeeping of Cash

  • Assigned cash custodian

    • Single custodian responsible for cash box

    • Ideally dual custodians to receive mailed cash/checks

  • Issuance of receipts, receipt logs

    • Provides proof to payee

    • Documents payments received—match to recorded cash

  • Independent cash counts

    • Periodic and unexpected counts by a non-custodian ensures controls are in place and working

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Cash Controls

Timely Deposits

  • Frequent deposits

    • Smaller, more frequent deposits are preferred because….

    • Less cash is exposed to risk of loss

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Cash Controls

Accurate Recording of Cash Transactions

  • Cash receipt and recording

    • Segregation of duties assures more than one person is involved in a transaction

  • Documentation

    • Proof of purpose, validity and accuracy of cash transactions

  • Reconciliation

    • Someone different than those that handle cash

  • For a Summary of Cash Controls see

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Purchasing & Vendor Payment

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  • We seek to obtain the Best Net Value for the University:



    -Life-cycle costing-Local availability

    -Warranty-P-card acceptance

    -Discounts-Technical support

    -Freight costs-Training

    -Timely delivery-E-business ready

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Purchasing Products and Services

Many Tools to Purchase Products & Services

  • Fast Track Check Request

  • Purchasing Card (P-card)

  • Convenience Checks

  • Purchase Orders (from Purchase Requisitions)

  • Extensity Reimbursements

  • Corporate Travel Card

  • Petty Cash

  • Agency Checks

  • Limited Purchase Draft (LPDs)

  • Campus Purchase Order (CPOs)

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Purchasing Tools

Fast Track Check Request

  • Initiated only by designated, trained Fast Track Buyers

  • Only used for specific categories of products or service (see Purchasing’s website)

  • Only for established Fast Track vendors

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Purchasing Tools

Purchasing Card (P-card)

  • VERY flexible tool assigned to specific people to purchase many kinds of products (not for services)

  • $2,000 transaction limit ($20,000/mo.)

  • Not for travel (conference fees and first-night hotel are allowed)

  • Electronically approved by cardholder and supervisor

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Purchasing Tools

Convenience Check

  • Same rules as Purchasing Card

  • May not be used where P-card is accepted

  • Penalty for misuse

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Purchasing Tools

Purchase Orders (from Purchase Requisitions) Used for:

  • Requesting Purchasing to locate and negotiate with suppliers

  • Transactions larger than $2,000 where items not allowed by Fast Track process

  • Items not allowed by P-card (e.g. Hazardous materials)

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Purchasing Tools

Purchase Requisitions:

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Purchasing Tools

Extensity Reimbursements

  • System planned to go live during first quarter

  • Approved travel reimbursements

  • Approved reimbursement to employees for personal purchase of business supplies when other payment options are not feasible (use of Purchasing-card, Convenience Check recommended)

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Purchasing Tools

Corporate Travel Card

  • Encouraged for business travelers

  • Automatic download of transactions to Extensity for reimbursement

  • Corporate liability so personal items should not be paid with this card

    • If inadvertently paid, may be excluded from Extensity reimbursement

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Purchasing Tools

Petty Cash

  • Take money to purchase items where P-card cannot be used and return the receipt

  • Count of cash plus receipts always equal to total authorized Petty Cash amount

    Change Funds are NOT petty cash and authorized balance must ALWAYS equal count of cash

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Purchasing Tools

Agency Checks

  • Check stock controlled by campus clubs and certain other areas

  • Funds NOT owned by University

  • University provides accounting reports for transactions

  • Check steward must control check stock under lock and key

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Purchasing Tools

Limited Purchase Drafts (LPDs)

  • Department controlled check that is being phased out during first quarter of 2004

  • Was used for low dollar transactions and to reimburse for personal purchases of business supplies

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Purchasing Tools

Limited Purchase Drafts (LPDs)

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Purchasing Tools

Campus Purchase Orders (CPOs)

  • Department initiated instrument to “sell” or “buy” items between two departments on Campus

  • Requires signature of both buying and selling departments

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Purchasing Tools

Campus Purchase Orders (CPOs)

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Brigham Young UniversityTravel Management

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  • Air, rental car, hotel booking for all campus personnel, students, and departments

  • Travel Accounting

  • Passport processing, photos, forms, etc.

  • Group travel support for Athletics, Travel Study, Study Abroad, Sports Tours, Performing Arts

  • Cliq Book – a travel self-booking/search tool

    • Searches all web reservations sites

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Services Cont.

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Travel System

Extensity Travel System coming

  • Planned first quarter 2004

  • Electronic Travel application approval and travel reimbursement

  • Business reimbursement for authorized purchases on behalf of BYU

  • Direct deposit to employee bank account

  • But until system is live…..

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How To Travel On Business

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How To Travel On Business Cont.

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Web Page Support


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Meal Per Diem Calculation

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Mileage Calculations

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Frequent Questions

  • How do I get my cash advance check?

  • Can I buy airline tickets on the internet?

  • Do I need to fill out a Travel Application?

  • How do I get reimbursed for expenses?

  • Can multiple travelers go on the same form?

  • What if I do not have a receipt for a claim?

  • Can a student get a cash advance?

  • Can students and employees use BYU Travel for personal travel?

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Basic Financial Workshop

Douglas G. Belliston

Director, Financial Accounting and Reporting


[email protected]

Kevin L. Walker,

Director, Financial Solutions


[email protected]

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