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ICAO Finance


									ICAO Finance

Regional Offices and Agresso
      Agenda & Introduction

         NEW               Overview of Agresso
                           Impact on cashbooks
IPSAS – International      Real-time data
Public Sector Accounting
Standards compliant        Impact on reporting
UC and CC clients
                           Closing deadlines
        Agresso overview
Core Financials:
• General Ledger
• Accounts Payable
• Accounts Receivable
• Financial Reporting
Projects Costs & Billing
Budget Monitoring & Funds Control
Procure to Pay
Human Resources/Payroll
Fixed Assets
Travel Module (end 2011 / early 2012)

• Regional Offices are recording their own
  transactions in Agresso directly.
• Cashbooks will no longer be loaded by
  Finance staff at HQ.
• Monthly bank reconciliations with bank
  statements must be prepared and sent to
  HQ as soon as possible after closing.
• Common tasks and responsibilities for all
  Regional Offices.
• No delay in transaction recording, better
  control of budget.
• Compliance with new Procurement Code,
  coupled with Agresso database, ensures
  common supplier records and purchase
  order history are visible to all staff.
       Reporting Benefits
• Ability to create reports tailored to
  individual office requirements.
• Real-time data ensures accurate figures.
• Ability of External/Internal auditors to
  review all transactions including
  supporting documentation.
• Better access to information.
• Increased efficiency.
Difficulties & Opportunities
• More in-house training for staff, this will
  alleviate the burden when people are
  sick or absent.
• Laser cheques from the bank. This will
  eliminate the present duplication of work
  and ensure transactions are entered in
  Agresso immediately.
• If unsure how to record a transaction,
  ask questions. Agresso manual has most
  situations covered.
     Difficulties at HQ (a)
Here are some examples of Regional Office
  issues we are experiencing:
• Cash transaction posted in a different
  period; must always be posted in the
  same period as original entry.
• Debits and credits are often inverted.
  Agresso manual has guide to proper
• Wrong currency is sometimes used.
• Wrong fund is sometimes used.
     Difficulties at HQ (b)
• Wrong accounts are used.
• Entries are sometimes duplicated.
• Entries are not recorded.
• Bank charges and interest earned, from
  bank statements, must be recorded
• Ensure that correct project, work order
  and fund are always used.
       Difficulties at HQ (c)
• Finalize all transactions from beginning
  to the end. Complete all steps as per the
  Agresso manual:

•   EI03 post approved transactions
•   SU07 remittance proposal
•   SU08 remittance confirmation
•   SU11C payment

• It is imperative that all of the steps above
  be completed and none are overlooked.
     Difficulties at HQ (d)
• A/P transactions are not processed on
  time, they are often processed after the
  fact. This is causing big problems for
  expenses recognition and for determining
  correct cash position in Agresso. It also
  affects the monthly foreign currency
• Incomplete / not clear transaction
  description (include TA#, ASR#, etc.)
      Difficulties at HQ (e)
• Journal vouchers - actual transaction dates
  are not used but instead the date the
  transaction was processed in Agresso is
• Transaction date for A/P entry should be the
  invoice date, not the date it was entered
  into Agresso.
• Transaction date triggers exchange rate of
  that day to convert transaction into CAD and
• Very important that correct date is used for
  all transactions.
     Difficulties at HQ (f)
• Correct bank accounts should be used:
  Local currency account for local
  currency payments and transactions and
  US$ account for US$ payments and
• Monthly publications sales report must
  be sent to HQ as soon as possible after
  monthly closing.
       Closing deadlines
• Finance aims to close by the 6th
  working day of each month but a
  separate schedule is sent to all
• Monthly closing deadlines must be
  adhered to.
• Year-end closing deadlines are strict
  and must be respected.
• Audit timetable is dependent on the
  year-end closing schedule.
      Summary – Key points

• Review presentation with staff
• Transactions must be processed on
• No transactions after the fact.
• Respect closing deadlines.
• Bank statements are urgently
  required monthly.

Montreal, 3 – 7 October 2011

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