OFM OFFICE OF FINANCIAL MANAGEMENT WELCOME! Please Silence Your - - PowerPoint PPT Presentation
APRIL 2020 INTERMEDIATE AGENCY FINANCIAL REPORTING SYSTEM (AFRS) TRANSACTION CODES TRAINING Dan Bode Chris Soots OFM OFFICE OF FINANCIAL MANAGEMENT WELCOME! Please Silence Your Cell Phones Sign In Sheet and Handouts Amenities Restrooms
OFFICE OF FINANCIAL MANAGEMENT
APRIL 2020
Dan Bode Chris Soots
Please Silence Your Cell Phones Sign In Sheet and Handouts Amenities Restrooms Building Emergency Exits Training Material Available on ofm.wa.gov Evaluations
OFM 3/30/2020 2
Introductions What is AFRS Intermediate Trans Code Training? Learning Objectives Other topics of Interest? Review: What are Transaction Codes? Lessons and Exercises Help and Resources
OFM 3/30/2020 3
OFM 3/30/2020 4
WHAT IS AFRS INTERMEDIATE TRANS CODES TRAINING? Addressing more advanced AFRS Trans Code topics that typically result in calls to the Help Desk Practice exercises to apply guidelines for selecting higher level Transaction Codes Advanced level topics that staff with reconciliation and/or in-process duties may come across
Who has reconciliation and/or in-process duties?
OFM 3/30/2020 5
How to look up Transaction Codes Guidelines for selecting Transaction Codes Use the Excel tool to choose the Trans Codes you need Error correction Using “R” to correct errors Questions & Answers
OFM 3/30/2020 6
Sev ever eral to topics i include e a paired ed e exer ercise
No news is good news!
OFM 3/30/2020 7
OFM 3/30/2020 8
A 3-digit code that determines which general ledgers to debit and credit
Determines if a payment is generated Controls coding elements required or not required on a transaction
OFM 3/30/2020 9
Trans Codes are more than just a 3-digit number Every Trans Codes has a description, and… They affect 2 or more General Ledger Accounts
Variable TC allowed for multiple GL accounts
OFFICE OF FINANCIAL MANAGEMENT
OFM 3/30/2020 12
EXERCISE #1
Follow the printed instructions to complete this exercise
REVIEW: GUIDELINES FOR SELECTING TRANS CODES HANDOUT
The Guidelines will help you understand the process for the more challenging of error corrections Provides more information for your AFRS work than what you may have received from your on-the-job training Many of these will be referenced during today’s exercises
OFM 3/30/2020 13
PROCESS FOR SELECTING THE CORRECT TRANS CODES
completing the accounting event
which are not allowed for the transcode
matches the FM indicator of the TC
OFM 3/30/2020 14
RESOURCES FOR CHOOSING THE CORRECT TRANSCODES
reporting-system-afrs/afrs-documentation
the spreadsheet
Table Quick Guide on the TC tab
Following are some samples of other Agencies’ in-process reports These samples will show common in-process issues Even if you don’t deal directly with in-process reports, the knowledge is valuable for avoiding AFRS errors More training for in-process reports is available from SWA
OFM 3/30/2020 16
SOL Warrant cancels from OST
Warrant cancel created by agency
JV or IAP payments from other agencies
Journal voucher rev/expense transfers
Transfers from other agencies
Using the R (Reverse) code is the preferred way of correcting an error in AFRS However, AFRS edits do not allow use of the “R” code for these TCs:
Transfer - TC 210
022
existing # on the document file where no existing document # is on the file
encumbrances: TC 211
Entering a transaction code that generates a payment (such as TC 210) is not the end of the process When that transaction processes and creates the payment, AFRS generates a transaction called a “payment wrap” or simply “wrap”
There is also a transaction posted by the Treasurer to complete the cycle The payment transaction code and the wrap are also shown
OFM 3/30/2020 23
Day Trans nsaction S n Sour urce TC TC DR DR CR CR DR DR CR CR Description Day 1 y 1 Agency cy V Vouch cher 210 210 650 6505 Accrued Exp. 511 5111 Accts. Payable Record accrued expenditure/expense, accounts payable and **create p payment w write r record. From Sy System Pri Print Command** nd** 398 398 511 5111 Accounts Payable 712 7120 Warrants- in-Process 651 6510 Cash Exp. 650 6505 Accrued Exp. **Rel elea ease p e payment w write r e record a and liquidate accounts payable, reduce warrants-in-process, reclassify accrued to cash expenditure/expense. Day 2 y 2/3 Trea easurer er 750 750 712 7120 Warrants-in- Process 431 4310 Current
Activity Clears warrants-in-process, and Reduces Current Biennium Cash NET ET R RES ESULT 651 6510 Cash Exp. 431 4310 Current
Activity
OFM 3/30/2020 24
In each scenario, you have found an error in a past accounting event AFRS cleared the error file because the coding was valid or present on the AFRS tables These errors are usually found from the in-process report, in prior month ER reports, or from those who can see that the revenues or expenses are incorrect We will review the exercises together when completed (Hint: there may be more than one right answer!)
OFFICE OF FINANCIAL MANAGEMENT
OFM 3/30/2020 26
EXERCISE #2
Follow along with the instructor
OFFICE OF FINANCIAL MANAGEMENT
OFM 3/30/2020 27
EXERCISES #3 - #4
Follow the printed instructions to complete these exercises
OFFICE OF FINANCIAL MANAGEMENT
OFM 3/30/2020 29
EXERCISES #5 - #8
Follow the printed instructions to complete these exercises
OFFICE OF FINANCIAL MANAGEMENT
OFM 3/30/2020 31
EXERCISE #9
Follow the printed instructions to complete these exercises
OFFICE OF FINANCIAL MANAGEMENT
OFM 3/30/2020 33
EXERCISE #10
Follow the printed instructions to complete these exercises
OFM 3/30/2020 35
To get copies of the latest system documentation:
reporting-system-afrs
State Administrative and Accounting Manual:
Sign up for AFRS GovDelivery:
ber/new
AFRS:
Accounting Policies and Procedures:
asp
3/30/2020 37
Our other AFRS class:
Please check out other classes offered by OFM Accounting and Statewide Accounting (SWA):
accounting-and-budget-staff
alUrl=/geonext/wasdop/Launcher.geo?unified=class_225107762 89
OFFICE OF FINANCIAL MANAGEMENT
Any questions?
OFM Enterprise Applications Training: Chris.Soots@ofm.wa.gov Kelli.Dowling@ofm.wa.gov