[Msoadm] Retracted July 2023 Period Close Reports

[Bobbi McCracken]

Dear Colleagues,

Thanks for your thorough and prompt review of the July 2023 Financial Transaction Detail Reports (FTDR).  Several issues were identified requiring the reports to be revised and regenerated (e.g., BC75/76/77, C&G Project carryforward budgets, etc.).  As the FTDR are the official campus ledgers, the July reports generated on 9/5/2023 must be retracted.  An additional communication will be distributed once the new July reports are available. I apologize for the inconvenience.

Bobbi

From: Bobbi McCracken
Sent: Tuesday, September 5, 2023 3:22 PM
To: lrss_users at lists.ucr.edu; msoadm at scotmail.ucr.edu
Cc: Asirra Suguitan <asirra.suguitan at ucr.edu>; jerry.monahan at ucr.edu; Impact23 <impact23 at ucr.edu>
Subject: July 2023 Period is Closed in Oracle Financials

Dear Colleagues,

The first Accounting Period, July 2023, under the new Oracle Financial system has been closed.  Financial Transaction Detail Reports are now available in RSpace under the Tools section "Financial Web Reports<https://finwebreports.ucr.edu/>".   A few notes and reminders:

  1.  Regardless of the process used to reconcile your monthly ledgers, the Financial Transaction Detail Report (FTDR) should be used as the basis to ensure completeness of the data being reconciled
     *   The FTDR is a fiscal year-based report. At this time reconcilers are asked to reconcile PPM project costs against the FTDR.
     *   Reconcilers must be provisioned inquiry access to the related systems for the transactions they are responsible for reconciling.

                                                    i.     Reconcilers should be provisioned the Oracle Financials UCR Inquiry role at a minimum.

                                                   ii.     Individual reconciling payroll transactions will need to complete the Gender Recognition and Live Name training in LMS, sign the Non-Disclosure agreement, and be provisioned access to Looker-Finance-Payroll Distribution role.

     *   Reconciliations should be to source documents (such as purchase orders, invoices, etc.) When reconciling payroll transactions, the user should be validating against source documents (e.g.,  signed offer letters, promotion letters, leave notices, etc.) and the Time & Attendance Reporting System (TARS).  A reconciliation of the FTDR to the Payroll Distribution Database is insufficient.
     *   If errors in the data are identified, the departments must have established procedures to ensure corrections are tracked and confirmed.
     *   Please review UCR Policies and Procedure-Ledger Reconciliation & Review Guidelines 200-97<https://fboapps.ucr.edu/policies/index.php?path=viewPolicies.php&policy=200-97>.  Although updates are required to address the new systems, the objectives are the same.
     *   If a system error is identified, please submit a ticket using the Impact23 support site: https://ucrsupport.service-now.com/finadmin_portal
  1.  The updated Ledger Reconciliation and Storage System (LRSS) under the new COA is not yet available.  Ledgers should continue to be reviewed and reconciled.  Once the updated LRSS is deployed, users will be asked to mark the July ledgers as reconcile and certify in LRSS

Note: Department SAA will need to recreate the LRSS matrixes once the replacement system is deployed.  Additional guidance will be provided upon deployments, so please begin evaluating if changes in roles are necessary.

  1.  Please work with your department financial manager to evaluate your reconciliation procedures under the new financial systems and Chart of Accounts.   As you are aware, most transactions are processed using workflow approval (versus the Post Audit Notification (PAN)).
  2.  At this time, the Financial Web Reports<https://finwebreports.ucr.edu/> only contain the FTDR.  In the near future, the monthly PI Summary Reports by PI and the Encumbrance Reports will be housed at this site.
  3.  Payroll journals for July:
     *   Please note you will see the posting and reversal of several journals.  This situation will not re-occur after the August ledgers
     *   July payroll journals are mislabeled "August"; this situation has been corrected going forward.
Thank you for your patience during the system transitions.

Sincerely,

Bobbi McCracken
Associate Vice Chancellor and Controller
Business & Financial Services
http://bfs.ucr.edu/
[signature_2034439392]

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