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Financial System Upgrade: FY15 Changes Impact on Your Work

Explore how the FY15 changes including new chart of accounts, fund types, vendor records, and automated processing affect your daily tasks in accounting and financial management at Princeton University.

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Financial System Upgrade: FY15 Changes Impact on Your Work

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Presentation Transcript

  1. Princeton Prime and Voyager Changes for fiscal year FY15 May 2014

  2. Why are we here?

  3. Some changes with FY15 • Implementation of a new Chart of accounts • Enhancements to the university’s financial reporting and business processes • Upgrade of financial systems and tools

  4. How does it affect my work? • Funds • Changes in fund types • Changes in some reporting funds • Changes in use of reporting funds • Vendors • Must have necessary documentation in place to be paid.

  5. The Chartfield and the library

  6. Voucher feed to Accounts Payable

  7. Voucher feed to Accounts Payable

  8. Voucher feed breakdown

  9. Voucher feed breakdown

  10. Voucher feed breakdown

  11. Voyager values to chartfield values

  12. Fund changes in Voyager • New reporting funds • Removal of the replacement reporting fund • Change in policy on usage of certain reporting funds

  13. New reporting fund types • Reporting fundCode • Rare map rmap • Rare monograph rmon • Rare score rscore

  14. Rare material in ledger

  15. Goodbye, replacements. • Replacement reporting funds disappear with FY15 • Fund code must map correctly into People Soft • Mapping needs to describe FORMAT of material • Replacements will be purchased on the reporting fund that describes the item purchased – monograph, video, map, etc.

  16. Ejournals vs. subscriptions

  17. Serial single orders • Until now, charged on monograph reporting fund • Now to be charged on subscription reporting fund UNLESS We are buying a serial publication which will be cataloged monographically.

  18. Serial single issue charged as monograph

  19. Music Scores • Some standing orders for scores have mono series or standing order reporting funds. • From now on they will be charged as scores. The reporting fund that we feed into Prime must describe the format of the material.

  20. Vendor records • Changes to vendor records • Describe payment terms • Indicate inactive vendors that must be established in People soft before we use them again • Support automation of previously manual special processing

  21. Vendor types and payment terms

  22. Vendor types

  23. New vendors and inactive vendors • Inactive vendors not used in some time will have a type “Vendor inactive” • New vendors will have to be established at the earliest possible point • Paperwork must be in place to pay them.

  24. New automatic processing of special invoices

  25. Foreign and domestic wires

  26. A work in progress • Questions???

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