Debit Credit Memo

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Debit Credit Memo Powered By Docstoc
					                       EPIC
Payment Request and Credit Memo Documents

       Charlie Sinex, Accounts Payable Manager, FMS
        Sherry Kapperman, Transaction Analyst, FMS
                       October 9, 2008
Main Content Area
• Payment Request
   • Routing
   • Delegate Roles
   • Actions
• Credit Memo
• General Ledger
• Extracting to PDP
• Search Screen
• IUIE Reports for AP documents overview
Payment Request Documents
Vendor Invoice to Vendor Payment
                                    Departmental
                                    user creates a
                                     Requisition


           Funds are                                            Requisition is
          disbursed in                                            approved
              PDP                                               creating a PO




     PREQ is                                                          Vendor Invoice
    extracted to                                                       arrives and is
      PDP for                                                          processed by
     payment                                                                 AP




                                                       Invoice is
                    PREQ is Auto-
                                                     scanned and
                     Approved or
                                                      indexed to
                    Dept-Approved
                                                     begin routing
                                        PREQ Flow
 AP Approval        •Image attached
 (APAD)



Sub-Account         Fiscal Officer
Manager                                 Chart/Org
                    Approval
Approval (ASAA)                         Review (ACHA)
                    (AFOA)


   Required       Tax Approval (ATAX)
                  •Foreign Vendor
   Optional       •Employee
       Who can view the Invoice Image?
• Access to the image button depends on the
  accounting on the PREQ and in FIS
   • Fiscal Officers
   • Active PREQ delegates
   • Active ALL delegates
• Select other user groups – like AP, PUR, Internal
  Audit
• Electronic Invoices do not have an image attached
• Must be viewed through Internet Explorer
    PREQ Document Routing

• (Required routing) Fiscal Officer routing:
  defined by FIS accounts and delegation (if
  any)

• (Optional routing) Sub-Account Approval
  rules and Chart/Org Review rules are set up
  in workflow
Workflow Action Lists – what to
look for…
PREQ as shown in the action list…




• Auto-approvals show as “Acknowledge”
      Route log information

• While in an Action List, select the icon:



• While in the EPIC document, select the link:
PRIMARY
DELEGATE




     FISCAL
     OFFICER




     SECONDARY
     DELEGATE
      Account Delegates
• To view delegates search FIS
  Inquiries/Reference Tables „Account Delegates‟
 Secondary PREQ delegate can filter
 the action list to review a PREQ
• Within the 2ndary PREQ‟s workflow action list…
Secondary PREQ delegate can search
by document number to review a PREQ




                 1




             2



3
Secondary delegate can also search in
EPIC; then link to the workflow document
Customize footer: View menu/Header and Footer   January 17, 2011
During Routing: Request Cancel

During Routing: Hold
EPIC Notes
• Notes are required for certain actions:
  „Hold‟, „Remove Hold‟, „Request Cancel‟,
  „Remove Request Cancel‟, and „Cancel‟.
• Notes are a permanent audit trail.
• When to NOT ADD A NOTE: do not add
  a note to EPIC to document an SSN# or
  a Bank Account #.
Approving a PREQ, means…
• The goods or services have been
  satisfactorily delivered

• The proper accounts have been charged

• The payment amount is accurate and
  should be disbursed
       Separation of duties – an internal
       control note…
• Appropriate separation of duties means that at least two
  people from the department have been involved in the
  process of creating a requisition, approving a requisition
  and approving a payment request.
Optional Routing

– Sub Account Manager approval

– Chart / Org Review approval
          Tax Approval Routing

• Route level used when a vendor on the payment
  request is indentified as an employee, a foreign
  vendor, or a non-resident alien.
        Special Disbursement :
  Wire Transfers (and Foreign Drafts)
• Disbursement is processed in FIS on a DV

• EPIC PO notes and EPIC Payment Request
  notes document the disbursement

• Note: Do NOT add bank account information to
  the EPIC or FIS notes screen.
Credit Memo Documents
Vendor Credit Memo
                                         •Image
                 AP Approval
                                         attached
                 (APAD)



                 Complete (CMPT)

                                   Fiscal Officer
                                   receives an FYI in
                                   Action List
Who can view the Credit Memo Image?
• Access to the image button depends on the
  accounting on the CM and in FIS
   • Fiscal Officers
   • Active PREQ delegates
   • Active ALL delegates
• Select other user groups – like AP, PUR, Internal
  Audit
• Must be viewed through Internet Explorer
Credit Memo as shown in the
   workflow action list…
General Ledger Transactions for
        AP Documents
   PREQ GL entries and encumbrances
         book at AP Approval

• Encumbrance                  • Expense and liability
   Credit encumbrance            Debit expense object code
   Debit offset fund balance     Credit liability object code
  Account BL 10-232-00           Account BL 10-232-00
9892 EX FB      4100 EX EX       4100 AC EX       9041 AC LI
295.18               295.18      295.18               295.18
           Pairs of Balance and Object Type

Balance Type                Object Type             Description

EX                          EX                      EX EX = Encumbrance Entry
– External Encumbrance      – Expense Expenditure   (Debit record at PO open.)
EX                          FB                      EX FB = Encumbrance Offset
– External Encumbrance      – Fund Balance          (Credit record at PO open.)
AC                          EX                      AC EX = Expense Entry
– Actuals (Balance Sheet)   – Expense Expenditure   (Debit record at PREQ AP Approve.)
AC                          LI                      AC LI = Liability Entry
– Actuals (Balance Sheet)   - Liability             (Credit record at PREQ AP Approve.)
PDP GL entries at disbursement
• Cash and liability entries
  Debit liability object code
  Credit cash object code
           Account BL 10-232-00

    9041 AC LI           8000 AC AS

  295.18                          295.18
  GL entries
• At AP Approval (07/26/08) „PREQ‟
                                       Expense debit


                                        Liability credit


• Fiscal Officer did not edit the accounts
• At disbursement (08/11/08) „PDP‟
                                       Cash credit


                                        Liability debit
Fiscal officers or FO PREQ delegates
can edit accounting during routing …
shown on next slide…
      T-accounts for prior slide FO edits
  GL entry from AP Approve
Account BL 2142652   4502 AC EX       9041 AC LI
                     100.00                   100.00



  FO edits – reverses original entry; books edit
Account BL 2142652   4502 AC EX       9041 AC LI
                              50.00   50.00


Account BL 2142651   4502 AC EX       9041 AC LI
                     50.00                    50.00
   Credit Memo at AP Approval

• Encumbrance                   • Expense and liability
   Debit encumbrance              Credit expense object code
   Credit offset fund balance     Debit liability object code
Account BL 10-232-00             Account BL 10-232-00
  9892 EX FB    4100 EX EX        4100 AC EX      9041 AC LI

      295.18   295.18                  295.18    295.18
         Credit Memos referencing…
• …the payment request..will populate accounting
  from the PREQ.




• …the purchase order…will populate weighted
  average accounting from all payments against the
  PO.
• …the vendor…accounting must be manually
  entered by AP.
Extracting Payments and Credits to
               PDP

      PDP: Check or ACH ?
         Pay dates and Disbursement
• DPTA and AUTO payment requests will extract
  based on the pay date

• DPTA payments - immediate pay functionality

  Exceptions:
  • payments on „Hold‟
  • outstanding Credit Memo which is greater than
    the sum of the payment requests
 Pay dates and Disbursement (continued)
• Conditions that prevents PREQs from reaching Auto
  Approved status
  • PREQ is on „hold‟ or „request cancel‟
  • PREQ exceeds a defined dollar limit
  • PREQ contains at least one account that requires
    positive approval
  • Vendor is Foreign (requires Tax review and approval)
  • Vendor is Institution Employee (requires Tax review
    and approval)
        Credit Memo bundling
• Bundling is based on
  • Processor campus
  • Vendor including division extension
     • Example: Credits from vendor #123-0 will NOT bundle
       with payments to vendor #123-1
     • Zip code on payment and credit memo
• Payments and credits will not extract for
  disbursement until a positive pay condition exist
• Credits disburse via check (not ACH)
          Check versus ACH
• If an ACH record has been established for a
  vendor, the payment is eligible to disburse via ACH

  • A check will print if the payment has
     •   Immediate print
     •   Attachment flag
     •   Special Handling instructions
     •   A credit memo
  Reviewing PDP Payment Information
• PREQs that have been extracted to PDP for
  payment will display a button on the face of the
  PREQ:
• Linking to the PDP information provides a wealth
  of information…
EPIC Search for AP documents
Searches for PREQs and Credit Memos

• Searching on a specific PREQ#, CM# or the
  related Document ID is facilitated.

• A general search, for example on a vendor
  name, will require department users to enter a
  Chart / Org.
IUIE Reports
Drum roll please…
…9041 reports have arrived
Available today
• 9041 Out of Balance
• 9041 Payment Request – EPIC
• 9041 Credit Memo – EPIC

Soon to be published…
• 9041 FIS GL Detail Report
Pause for IUIE 9041 demo…




…continue slide show
AP documents
• Master Catalog/Financial
     Quick hints – select IUIE reports
• PREQ Printout
   o Nice print of PREQ on occasion that paper is needed;
     can input series of PREQ #s or PO#
• AP Hold Report
   o Department can monitor HOLDS to prevent aging;
     suggestion: create shortcut with “Last Update User Id”
     listing any user id that could place PREQ on hold
• Payment Request Accounting
• Credit Memo Accounting
   o Accounting reports facilitate study of accounting for
     payments at the PO level and vice versa
      Questions?
…are welcomed today or any day…

Charlie Sinex            Sherry Kapperman
856-2268                 855-7115
csinex@indiana.edu       skapperm@indiana.edu

				
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Description: Debit Credit Memo document sample