Creating a Business Budget

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Creating a Business Budget Powered By Docstoc
					State of Connecticut
    Core-CT Project

Create and Maintain Budget
         Journals
           4 hrs
                             Updated 03/25/2003
                                                                      Welcome

Getting Started

Welcome to the Create and Maintain Budget Journals course!
  • Instructor introduction
  • Participant introduction
  • Training facility orientation
  • Ground rules
  • Parking lot
  • To participate in this course, you should have already completed the
    following training:
        PeopleSoft Navigation Tutorial
        GL Business Process Overview course



                                                                            2
                                                                           Welcome

Objectives

In this training, you will learn to:
   • Apply the new GL processes that you learned about in the Overview courses. We
     will specifically focus on the following processes:
          Understanding the Budget Structure
          Reviewing Budget Information Online
          Creating, Modifying, and Uploading Spreadsheet Budget Journals
          Creating Online Budget Journals and Budget Transfers
          Deleting Online Budget Journals
          Posting Online Budget Journals
          Reviewing and Correcting Online Budget Journals
   • Use Core-CT as a tool in supporting the processes
   • Utilize Core-CT functionality to maximize your efficiency

                                                                                     3
Agenda

 Welcome
 Understanding the Budget
 Structure

 Reviewing Budget Information

 Break                          15 minutes

 Creating Spreadsheet Budget
 Journals
 Modifying Spreadsheet Budget
 Journals
 Uploading Spreadsheet Budget
 Journals

                                             4
Agenda

 Creating Online Budget Journals

 Creating Online Budget Transfers

 Deleting a Budget Journal
 Break                                15 minutes
 Posting a Budget Journal

 Review and Correct Budget Journals

 Inquire on Budget Journals

 Conclusion



                                                   5
                                                                                  Welcome

Training Tools

In this training session, we will use tools created specifically for
this course.
   • Presentation
         We will use a PowerPoint presentation to guide us through our discussion of
          processes and key points related to using Core-CT to support those processes

   • Exercises
         We have developed exercises that will enable you to practice the skills you will
          learn in each module

   • Training Database
         The functionality in our database mirrors the Core-CT production environment
          closely, though changes may be made prior to go-live
         Data has been loaded into the system to help you learn how to use the system,
          not to reflect a specific agency’s transactions
         You can make mistakes and experiment without consequence
                                                                                             6
                                                                       Welcome

Training Tools

We will also use a web-based help system during the class. This
tool will be available to you after go-live.
  • Web Learning Assistant
        Web-based tool that provides help for specific processes (e.g. Create
         an Online Budget Journal)
        Contains: procedures, job aids, glossary
        Will be your primary reference tool once Core-CT goes live
Job Aids are available to reinforce the information introduced in
this course. Job Aids summarize key information and outline
critical processes in Core-CT.
  • General Job Aids
  • Module Specific Job Aids
  • Reporting Job Aids

                                                                                 7
Agenda
 Welcome
 Understanding the Budget
 Structure

 Reviewing Budget Information

 Break                          15 minutes

 Creating Spreadsheet Budget
 Journals
 Modifying Spreadsheet Budget
 Journals
 Uploading Spreadsheet Budget
 Journals

                                             8
                            Understanding the Budget Structure

Overview

The following is a list of the budget structures used by the State:
  • Appropriation
  • Allotment
  • Bond Authorization
  • Bond Allocation
  • Bond Allotment
  • Revenue Estimate
  • Associated Revenue Estimate
  • Agency Level Budgets


                                                                      9
                                       Understanding the Budget Structure
Key Points

Appropriation (Central)
• Required for legislative appropriations
    i.e. the General Fund and most other non-bond funds
• Highest level of budget in Core-CT
• Created and maintained centrally by OSC
• Always established as a control budget
Allotment (Central)
• Required for all General Fund and most other appropriated and non-appropriated Funds
• Created quarterly and maintained centrally by OSC

• Always established as a control budget




                                                                                         10
                                      Understanding the Budget Structure

Key Points

Bond Authorization (Central)
• Required for all legislative bond authorizations
• Budget Reference to capture year of bond authorization rather than creating new Fund
values annually
• Created and maintained centrally by OSC
• Always established as a control budget

Bond Allocation (Central)
• Required for all Bond Commission Allocations
• Created and maintained centrally by OSC
• Always established as a control budget

Bond Allotment (Central)
• Required to allot Bond Funds
• Always established as a control budget


                                                                                         11
                                    Understanding the Budget Structure

Key Points

Revenue Budgets (Central)
• Used by OPM and OSC to track Revenues by Revenue Account
• Created and maintained centrally by OSC

Associated Revenue Estimate (Central)

• Used for the Grant Transfer Process
• Created and maintained centrally by OSC
• May be established as track




                                                                     12
                                     Understanding the Budget Structure

Key Points

Agency Level Budgets
• Used for creating agency-defined lower level Department ChartField budgets
• Used for agency “Non-Project” Project ChartField value
• May be for a different amount than appropriated (e.g. create central reserve), but
budget control will ultimately always reside at Appropriation/Allotment
• Non project budgets: Agency 1 and Agency 2




                                                                                       13
                                       Understanding the Budget Structure

Key Points

Project Budget Structure (Agency)
• Used for creating agency Project budgets based on detailed Project ChartField values
and agency defined Department Chartfield values.
• Capture multiple funding sources in amounts which could differ from the Appropriation,

• Project Budget Structures include:
        Project 1
        Project 2
        Project 3




                                                                                           14
Agenda
 Welcome
 Understanding the Budget
 Structure

 Reviewing Budget Information

 Break                          15 minutes

 Creating Spreadsheet Budget
 Journals
 Modifying Spreadsheet Budget
 Journals
 Uploading Spreadsheet Budget
 Journals

                                             15
                                         Reviewing Budget Information

Overview

Reviewing Budget Information using the Budget Inquiry pages
allows you to:
  • Inquire on specific budget information such as initial budget, available
    budget, expenses, encumbrances and pre-encumbrances

  • Drilldown to view the details behind the summary information such as
    budget journal, budget ledger, and budget line details




                                                                               16
                           Reviewing Budget Information

Process Flow




                           Delete               Reviewing
   Review       Create                 Post
                          Unposted                 and
   Budget       Budget                Budget
                           Budget               Correcting
 Information   Journals              Journals
                          Journals               Posting
                                                 Errors




                                                             17
                                       Reviewing Budget Information

Key Points

Remember the following when performing an Inquiry:
  • Only data that has been posted can be viewed through these pages
  • You cannot update information through these pages
  • If you want to use the parameters in a future search save when you exit
    these pages




                                                                              18
                                        Reviewing Budget Information

Walk-through and Exercise

Let’s log-in to Core-CT.
  • First, we will walk-through the process together:
        Viewing Budget Information
        Scenario: The Department of Consumer Protection wants to view their
         budget information in summary and detail.
     WLA Path:
        Core-CT General Ledger>GL nVision and Reporting>View
         Procedures>Viewing Budget Information

  • On your own, complete exercise #2 in your Exercise packet
        Remember to utilize the Web Learning Assistant
        Raise your hand if you need any assistance



                                                                               19
Agenda
 Welcome
 Understanding the Budget
 Structure

 Reviewing Budget Information

 Break                          15 minutes

 Creating Spreadsheet Budget
 Journals
 Modifying Spreadsheet Budget
 Journals
 Uploading Spreadsheet Budget
 Journals

                                             20
Agenda
 Welcome
 Understanding the Budget
 Structure

 Reviewing Budget Information

 Break                          15 minutes

 Creating Spreadsheet Budget
 Journals
 Modifying Spreadsheet Budget
 Journals
 Uploading Spreadsheet Budget
 Journals

                                             21
                                       Creating Budget Journals

Overview

There are three ways to enter and load budgets into Core-CT’s
budget ledgers:
  • Spreadsheet Budget Journals
  • On-line Budget Journals
  • On-line Budget Transfers




                                                                22
                                     Creating Budget Journals

Process Flow




                           Delete                     Reviewing
   Review       Create                       Post
                          Unposted                       and
   Budget       Budget                      Budget
                           Budget                     Correcting
 Information   Journals                    Journals
                          Journals                     Posting
                                                       Errors




                                                                   23
                               Creating Spreadsheet Budget Journals

Overview

Creating Spreadsheet Budget Journals involves the following:

  • Understanding the Components of the Journal Workbook
  • Understanding Budget Journal Defaults
        Agencies may need to set defaults after downloading the budget spreadsheet

  • Entering Budget Journal Headers and Lines
        Each journal must be created with a unique Budget Journal ID




                                                                                      24
                      Creating Spreadsheet Budget Journals

Process Flow



                 Enter
   Validate                   Create the    Upload    Journals
                Journal
   Journal                     Flat File   Journals   posted to
                Headers
   defaults                                            the GL
               and Lines




                                                                  25
                           Creating Spreadsheet Budget Journals

Key Points

Remember the following when Creating Spreadsheet Budget
Journals:
  • Each user creating a spreadsheet journal entry must have a valid Core-
    CT Operator ID to use when creating the entry

  • Follow the Journal ID naming standard to avoid creating duplicates
        Standard: agency acronym + sequential number
        Example: DAS0000001




                                                                             26
                            Creating Spreadsheet Budget Journals

Walk-through and Exercise

Let’s log-in to Core-CT.
  • First, we will walk-through the process together
        Scenario: Creating Journal Entries using the Spreadsheet Budget
         Journal template.

  • WLA Path:
        Core-CT General Ledger > Using Spreadsheet Journals > Data Entry
         Procedures > Entering Journal Defaults
        Core-CT General Ledger > Creating and Maintaining Budgets > Data
         Entry Procedures > Creating Spreadsheet Budgets

  • On your own, complete exercise #5 in your Exercise packet
        Remember to utilize the Web Learning Assistant
        Raise your hand if you need any assistance


                                                                            27
Agenda
 Welcome
 Understanding the Budget
 Structure

 Reviewing Budget Information

 Break                          15 minutes

 Creating Spreadsheet Budget
 Journals
 Modifying Spreadsheet Budget
 Journals
 Uploading Spreadsheet Budget
 Journals

                                             28
                            Modifying Spreadsheet Budget Journals

Overview

Spreadsheet Budget Journals can be modified in the following
ways:
  • Editing Existing Budget Journals
        To complete incomplete budget journals

  • Copying Budget Journals
        To avoid redundant data entry

  • Deleting Budget Journals
        To delete journals that have not yet been uploaded to Core-CT




                                                                         29
                           Modifying Spreadsheet Budget Journals

Walk-through and Exercise

Let’s log-in to Core-CT.
  • First, we will walk-through the process together
        Scenario: We will walk through three scenarios for copying, deleting,
         and editing spreadsheet budget journals.
        WLA Path:
        Core-CT General Ledger > Using Spreadsheet Journals > Data Entry
         Procedures > Copying Journals
        Core-CT General Ledger > Using Spreadsheet Journals > Data Entry
         Procedures > Deleting Journals
        Core-CT General Ledger > Using Spreadsheet Journals > Data Entry
         Procedures > Changing the Import Status of Journals
  • On your own, complete exercise #9 in your Exercise packet
        Remember to utilize the Web Learning Assistant
        Raise your hand if you need any assistance

                                                                                 30
Agenda
 Welcome
 Understanding the Budget
 Structure

 Reviewing Budget Information

 Break                          15 minutes

 Creating Spreadsheet Budget
 Journals
 Modifying Spreadsheet Budget
 Journals
 Uploading Spreadsheet Budget
 Journals

                                             31
                             Uploading Spreadsheet Budget Journals

Overview

Uploading Spreadsheet Journals involves the following:
  • Creating the Flat File
        Save to a location determined by your agency

  • Running the Spreadsheet Budget Journal Import Process
        Process run as needed by agency




                                                                 32
                     Uploading Spreadsheet Budget Journals

Process Flow




   Validate      Enter                             Journals
                Journal    Create the    Upload
   Journal                  Flat File              posted to
               Headers                  Journals
   defaults                                         the GL
               and Lines




                                                               33
                            Uploading Spreadsheet Budget Journals

Key Points

Remember the following regarding Uploading Spreadsheet Budget
Journals:
  • Agency responsibilities
        Run the Spreadsheet Journal Import Process as needed
        Determine where the Flat File will be saved

  • Each Flat File must be saved with a unique name
        Standard: acronym + date (MMDD) + operator’s initials + sequential number
        Example: DMV0401JS1

  • Central responsibilities
        OSC will review the spreadsheet budget journals online in Core-CT and then
         kick-off the Edit,and Post processes




                                                                                      34
                              Uploading Spreadsheet Budget Journals

Walk-through and Exercise

Let’s log-in to Core-CT.
   • First, we will walk-through the process together
         Scenario: You have finished making your budget journal entries for the day
          and are now ready to save the journals to a flat file for import into Core-CT
         The flat file has been created and is now ready for import into Core-CT.
      WLA Path:
         General Ledger > Using Spreadsheet Journal Entry > Data Entry Procedures >
          Creating the Flat File
         General Ledger > Using Spreadsheet Journal Entry > Process Procedures >
          Running the Spreadsheet Journal Import Process

   • On your own, complete exercises #12 and 13 in your Exercise packet
         Remember to utilize the Web Learning Assistant
         Raise your hand if you need any assistance



                                                                                          35
Agenda
 Welcome
 Understanding the Budget
 Structure

 Reviewing Budget Information

 Break                          15 minutes

 Creating Spreadsheet Budget
 Journals
 Modifying Spreadsheet Budget
 Journals
 Uploading Spreadsheet Budget
 Journals


                                             36
Agenda

 Creating Online Budget Journals

 Creating Online Budget Transfers

 Deleting a Budget Journal
 Break                                15 minutes
 Posting a Budget Journal

 Review and Correct Budget Journals

 Inquire on Budget Journals

 Conclusion



                                                   37
                                        Creating Online Budget Journals

Overview

Creating On-line Budget Journals consist of the following:

  • Enter Budget Header and Line Information
        Chartfield combinations and budgetary control parameters are entered on
         these pages to record the official State and Agency budgets

  • Budget Journal IDs are automatically generated once the journal is saved
        Example: 0000000001, 0000000002




                                                                                   38
                          Create Online Budget Journals

Process Flow




                           Delete               Reviewing
   Review       Create                 Post
                          Unposted                 and
   Budget       Budget                Budget
                           Budget               Correcting
 Information   Journals              Journals
                          Journals               Posting
                                                 Errors




                                                             39
                                         Creating Online Budget Journals

Walk-through and Exercise

Let’s log-in to Core-CT.
  • First, we will walk-through the process together
        Scenario:
        Central: Legislation has passed a law for the Department of Consumer
         Protection (DCP) to increase their appropriation by 1,000,000. Create a
         budget journal for this amount
        Agency: DCP appropriated 500,000 and only alloted 250,000. OSC has now
         allotted you the remainder. Create a budget journal to update your agency
         budget by 250,000.
        WLA Path: Core-CT General Ledger > Creating and Maintaining
         Budget Journals >Data Entry Procedures > Creating Online Budget
         Journals
  • On your own, complete exercise #16 in your Exercise packet
        Remember to utilize the Web Learning Assistant
        Raise your hand if you need any assistance

                                                                                     40
Agenda

Creating Online Budget Journals

Creating Online Budget Transfers

Deleting a Budget Journal
Break                                15 minutes
Posting a Budget Journal

Review and Correct Budget Journals

Conclusion




                                                  41
                                       Creating Online Budget Transfers

Overview

Creating On-line Budget Transfers consist of the following:
  • Enter Budget Header and Line Information
        Chartfield combinations and budgetary control parameters are entered on
         these pages to record the official State and Agency budgets

  • Different Budget Entry type options exist on the Budget Header page
  • Transfer Budget Lines must be in balance
  • Budget Journal IDs are automatically generated once it is saved
  • Must be posted for transfer to occur and view online




                                                                                   42
                          Create Online Budget Transfers

Process Flow




                           Delete               Reviewing
   Review       Create                 Post
                          Unposted                 and
   Budget       Budget                Budget
                           Budget               Correcting
 Information   Journals              Journals
                          Journals               Posting
                                                 Errors




                                                             43
                                    Creating Online Budget Transfers

Walk-through and Exercise

Let’s log-in to Core-CT.
  • First, we will walk-through the process together
        Scenario: The Department of Consumer Protection wants to transfer
         funds between departments.
     WLA Path: Core-CT General Ledger > Creating and Maintaining Budget
      Journals >Data Entry Procedures > Creating Online Budget Transfers

  • On your own, complete exercise #18 in your Exercise packet
        Remember to utilize the Web Learning Assistant
        Raise your hand if you need any assistance




                                                                             44
Agenda

Creating Online Budget Journals

Creating Online Budget Transfers

Deleting a Budget Journal
Break                                15 minutes
Posting a Budget Journal

Review and Correct Budget Journals

Conclusion




                                                  45
                                                Deleting a Budget Journal

Overview

Keep in mind the following when deleting a budget journal:
  • You can only delete a budget journal that has not been posted
  • The Budget Header Status must either be “None”, “Error”, or “Valid”
  • There will be no audit trail of the deleted budget journal




                                                                          46
                                     Deleting a Budget Journal

Process Flow




                           Delete                     Reviewing
   Review       Create                       Post
                          Unposted                       and
   Budget       Budget                      Budget
                           Budget                     Correcting
 Information   Journals                    Journals
                          Journals                     Posting
                                                       Errors




                                                                   47
                                                 Deleting a Budget Journal

Walk-through and Exercise

Let’s log-in to Core-CT.
  • First, we will walk-through the process together
        Scenario: Department of Consumer Protection (DCP) wants to delete a
         journal that has not yet been posted.
        WLA Path: Core-CT General Ledger > Creating and Maintaining
         Budget Journals >Data Entry Procedures > Deleting Budget Journals




                                                                               48
Agenda

Creating Online Budget Journals

Creating Online Budget Transfers

Deleting a Budget Journal
Break                                15 minutes
Posting a Budget Journal

Review and Correct Budget Journals

Conclusion




                                                  49
Agenda

Creating Online Budget Journals

Creating Online Budget Transfers

Deleting a Budget Journal
Break                                15 minutes
Posting a Budget Journal

Review and Correct Budget Journals

Conclusion




                                                  50
                                                Posting a Budget Journal

Overview

After a budget journal is created and saved online you can set it to
post. You can initiate the posting process on the budget line page
for a single budget journal.
  • Budget Header Status must be “None”
        This is the status of the budget journal when created and saved
         without errors

  • Budget Header status changes to “P” once it is posted




                                                                           51
                                     Posting a Budget Journal

Process Flow




                           Delete                    Reviewing
   Review       Create                      Post
                          Unposted                      and
   Budget       Budget                     Budget
                           Budget                    Correcting
 Information   Journals                   Journals
                          Journals                    Posting
                                                      Errors




                                                                  52
                                               Posting a Budget Journal

Walk-through and Exercise

Let’s log-in to Core-CT.
  • First, we will walk-through the process together
        Scenario: Now that your agency has entered a budget journal let's set
         it to post.
        WLA Path: Core-CT General Ledger > Creating and Maintaining
         Budget Journals >Data Entry Procedures > Posting a Single Budget
         Journal

  • On your own, complete exercise #20 in your Exercise packet
        Remember to utilize the Web Learning Assistant
        Raise your hand if you need any assistance




                                                                                 53
Agenda

Creating Online Budget Journals

Creating Online Budget Transfers

Deleting a Budget Journal
Break                                15 minutes
Posting a Budget Journal

Review and Correct Budget Journals

Conclusion




                                                  54
                       Reviewing and Correcting Budget Journals

Overview

Reviewing and Correcting Budget Journals involve the following:
  • Limit your search to only those budget journals in error
  • View error messages
  • Make corrections
  • Post the budget journal




                                                                  55
                Reviewing and Correcting Budget Journals

Process Flow




                           Delete                Reviewing
   Review       Create                  Post
                          Unposted                  and
   Budget       Budget                 Budget
                           Budget                Correcting
 Information   Journals               Journals
                          Journals                Posting
                                                  Errors




                                                              56
                       Reviewing and Correcting Budget Journals

Key Points

The following is a list of potential errors you may encounter:
  • Budget is closed
  • Budget Period is invalid
  • Account type selected is invalid
  • Account value selected is invalid
  • Chartfield value selected is not correct




                                                                 57
                      Reviewing and Correcting Budget Journals

Walk-through and Exercise

Let’s log-in to Core-CT.
  • First, we will walk-through the process together
        Scenario: The Department of Consumer Protection's budget journals
         are marked in error. Review and correct these errors.
        WLA Path: General Ledger > Creating and Maintaining Budget
         Journals >Data Entry Procedures > Reviewing and Correcting Budget
         Journals




                                                                             58
Agenda

Creating Online Budget Journals

Creating Online Budget Transfers

Deleting a Budget Journal
Break                                15 minutes
Posting a Budget Journal

Review and Correct Budget Journals

Conclusion




                                                  59
Conclusion

Wrapping Up Create and Maintain Budget Journals:
  • Summary of Completed Course Objectives
        Understanding the Budget Structure
        Reviewing Budget Information Online
        Creating, Modifying, and Uploading Spreadsheet Budget Journals
        Creating Online Budget Journals and Budget Transfers
        Deleting Online Budget Journals
        Posting Online Budget Journals
        Reviewing and Correcting Online Budget Journals
     •   Final Questions




                                                                          60
Sandbox Goals/ Action Plan/ Adjourn

After this class, Central/Agency users can:
  • Use the Sandbox environment as a database that has been set up to
     utilize for practice on Core-CT to keep reinforcing what you have learned
     today.

  • Use all of the exercises completed here in class as job aids in the
     Sandbox environment when you return to your agencies.

  • Fill out the Action Plan sheet so the participants can plan when they will
     be utilizing the Sandbox and can make the commitment to do so.

  • Complete the course evaluation forms.
  • Wrap up and Adjourn the class.




                                                                                 61

				
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