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An Introduction to Finance

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  1. An Introduction to Finance Finance Systems Training Finance Business Solutions – User Support & Training

  2. Workshop Overview MORNING SESSION AFTERNOONSESSION • Taxation • GST Rules • FBT • NS Financials Basics • Portal Menu • Menu explanations • Searching and Inquiring • Process Monitor & Report Manager • Help & Support • Financials Overview • Finance Website • Systems Login • Finance Teams • Forms Directory • Buying Guide • Travel Portal • Reporting Guides • Financial Delegates • Online Training • NS Financials Knowledge Base • Reference Guides • Introduction to Chartfields

  3. Our Systems Finance Portal Student Administration FIMS (Calumo) NS Financials General Ledger updates overnight HRMS / Payroll Management Reporting n/Vision

  4. Tour of the Finance Website www.fin.unsw.edu.au

  5. NS Financials Login?

  6. Signinginto NS Financials

  7. Financial Delegation

  8. NS Financials Knowledge Base

  9. Training Workshops

  10. Online Training

  11. Training Environment

  12. Online Training Tool

  13. Finance Reference Guides

  14. Introduction to Chartfields

  15. Transaction Type Expenses Asset Management Credit Card eProcurement Accounts Payable Purchasing Billing Accounts Receivable General Ledger

  16. Introduction to Chartfields /

  17. Introduction to Chartfields Business Unit Budget Fund Department Account Program Class Project / Grant

  18. Translation Business Unit (usually faculty or division) Business Unit Accounting Period Budget UNSW allocates $ to core activities at the University, such as Research, Teaching, Operating, etc. Fund Physics- (Faculty of Science) Department Where this transaction is going to appear in the General Ledger Account 0000 00 Program/Class What money Physics has allocated to a specific task (project) Project

  19. UNSWA - Primary University PRESS - Unipress INTER - International House UNISL - Unisearch Ltd NSGLO - New South Global GL Business Unit • A General Ledger Business Unit: • Has reporting requirements to external bodies • Holds title to its own assets • Requires a separate Chart of Accounts • Holds a unique ACN & Payroll Group Number • Is responsible for its own audit Business Unit Budget Fund Department Account Program Class Project / Grant

  20. GL Business Unit Expenses General Ledger Purchasing eProcurement Credit Card Billing PCARD ADFA1 UNSW@ADFA ADFA2 University College eProc ARTSS Faculty of Arts and Social Sci BUILT Faculty of Built Environment BUSFI Finance COFA1 College of Fine Arts COMEC Australian School of Business CSERV Client Services Central DEPVC DVC (Research) DIVIS Information Services DONAT UNSW Donate EDFO1 Executive Director of Finance Ops EDUS1 University Services ENGIN Faculty of Engineering FACIL Property and Facilities KENCL Kensington College LAW01 Faculty of Law LIBRY Library LIFE1 Faculty of Science MEDIC Faculty of Medicine PVCRS PVC Research REGDP DVC (Academic) SCTEC Faculty of Science STSER Student Services SUMAN Purchasing Operations TRAVL Travel TRAVU ADFA Travel Orders UGYM1 University Gymnasium WCOMP Workers Compensation ADFA1 UNSW@ADFA ARTSS Faculty of Arts and Social Sci BUILT Faculty of Built Environment CAREM Careers and Employment CASH1 UNSW Treasury UNSWA CNFCE Venues & Events COFA1 College of Fine Arts COMEC Australian School of Business COMMS Communications Unit COOP1 UNSW Co-op Program DIVIS Information Services EDTEC Learning & Teaching @ UNSW EDUCT Educational Testing Centre ENGIN Faculty of Engineering FACIL Property and Facilities FSAR1 Accounts Receivable Office LAW01 Faculty of Law LIBRY Library LIFE1 Faculty of Science MEDIC Faculty of Medicine PRIZE Students Information - Prizes PUBLP Publishing & Printing Services RAPID Rapid Services RENT1 Rent RSCH1 UNSW Research Services SALAR Salaries Unit SCHOL Scholarships SCTEC Faculty of Science STSER Student Services UGYM1 University Gymnasium UNEXP ADEXP UNSWA NSGLO PRESS INTER /

  21. Budget Period of Time Indicates which BUDGET YEAR the system checks and updates during transaction processing. NS Financials allows transactions to be posted in the current Budget Period only. Example : March2012 = Budget Year 2012 BusinessUnit Budget Fund Department Account Program Class Project / Grant UNSW 2012 Budget Year

  22. Budget Checking Expenses - immediate Credit Cards - overnight Requisitions - immediate Purchase Orders - immediate Billing - overnight

  23. UNSW Financial Periods

  24. Funds BusinessUnit Budget Fund Department Account Program Class Project / Grant NB: Tree Manager – FUNDS_CALUMO

  25. Department BusinessUnit Budget Fund Department Account Program Class Project / Grant Represents the divisional breakdown of an entity. Faculty School School School Department Department Approx 1,100 operational departments NB: Tree Manager – ALL_ORGS

  26. Department NB: Tree Manager – ALL_ORGS

  27. Accounts BusinessUnit Budget Fund Department Account Program Class Project / Grant • Balance Sheet • - Asset • - Liability • - Equity • Profit & Loss • - Revenue • - Expense NB: Tree Manager – ALL_ACCOUNTS

  28. Accounts Expense Revenue Payroll Equipment Materials & Maintenance Travel Internal External 4000 Series 5000 Series 6000 Series 7000 Series 0900 - 1300 1401 - 1507 NB: Tree Manager – ALL_ACCOUNTS /

  29. Program BusinessUnit Budget Fund Department Account Program Class Project / Grant Always 0000

  30. Class BusinessUnit Budget Fund Department Account Program Class Project / Grant Always 00

  31. Project / Grant Project ID Projects are an activity of Organization which are defined by specific purpose. Captures and controls transactions for specific projects within the university. Called Project Codes or Project IDs (SpeedCharts are sometimes set up to make entering this information easier.) BusinessUnit Budget Fund Department Account Program Class Project/ Grant

  32. Chart of Accounts

  33. Questions?

  34. Tax

  35. Tax Invoices • Tax Invoices vs. Receipts • Tax invoices shows - supplier’s identity, ABN, GST details, and Tax Invoice • Supporting transaction • Greater than $82.50 (including GST) - Tax Invoice required • If no Invoice / Receipt - Tax code must be changed to NIAO • Matching • It is important the Invoice GST and systems VAT treatments match

  36. GST Deferral Scheme UNSW is registered with the Australian Tax Office (ATO) for the “GST Deferral Scheme”. For taxable imports, quote the UNSW ABN number - 57 195 873 179 to Customs and/or the Customs Broker and advise we are registered for the GST Referral Scheme.  Any assessed Customs duty will still be payable. Any GST Customs would otherwise collect on taxable imports is automatically accounted for when our monthly BAS is lodged.

  37. VAT Type

  38. VAT Transaction Types Credit Card & Expenses: Business Purposes & Expense Type Purchasing: Category Codes Note:Line & Header VAT

  39. VAT Transaction Types GST Incl. GST Free FRAO AO FRAC AC >=$5000 <$5000 Capital >=$5000 <$5000 Capital Capital Non-Capital Non-Capital Capital

  40. VAT Transaction Types Purchasing eProcurement Expenses Credit Cards Billing Accounts Payable • Purchasing Codes for Assets • AC AUS Acquisitions Capital • FRAC AUS GST Free Capital Acquis • NIAC AUS Cap Acq-Non Inc Tax Deduct • ACIT AUS AcqCapit-Input Taxed Supp • Purchasing Codes for Non-Assets • AO AUS Acquisitions Other • FRAO AUS GST Free Other Acquisitns • NIAO AUS OthAcq-Non Inc Tax Deduct • AOIT AUS Acq Other-Input Taxed Supp • SALE Standard Taxable Sales • FREE GST Free AUS-Sls & SGP-Sls&Pur • EXCL Exclude from GST Return

  41. Line & Header VAT GST errors can occur when Line & Header VAT codes are out of synch. These errors are most common in Billing. Confirm the Line & Header VAT details match to resolve these errors. For guidance with these errors you may need to contact Accounts Receivable.

  42. GST Mixed Supply • Tax Invoices with Taxable & Tax Free Items • Each of the Expenses & Credit Card modules require these transactions to be split when entered into the system. • Effectively the one Tax Invoice or Receipt is treated as two separate transaction items. • UPK Topics – http://training.nss.unsw.edu.au/ODS/toc0.html • Expenses: EX.02.04 - Claim a GST mixed supply Expense • Credit Card: CC.01.07 - Applying Mixed Supply GST to a Transaction

  43. Fringe Benefits Tax A Fringe Benefit is a ‘payment’ to an employee but in different form to salary or wages • Allows an employee to use a work car for private purposes • Gives an employee a cheap loan • Provides entertainment by the way of free tickets to reimburse an expense incurred by an employee, such as school fees • Provides benefits under a salary sacrifice arrangement with an employee

  44. Tax Guide & Further Help

  45. Tax Guide & Further Help