Accounting Services' Training Class Descriptions
ABC’s of Accounting
"ABC's of Accounting" is a presentation designed to familiarize units with the ins and outs of the various funds that make up the University’s general ledger. Revenues and restrictions are covered, as well as any other information relevant to a department’s use of a particular fund.
In addition, basic questions such as journal entry processing and recharges are included, along with brief synopses of other important areas like Banking Services.
Service Unit Billings (SUB)
Service Units provide services or goods to other U-M units. They are reimbursed through M-Pathways transactions called Service Unit Billings (SUBs). Service Units electronically submit the SUB transaction files to M-Pathways for processing. The Office of Financial Analysis authorizes the establishment of Service Units and sets and/or updates their recharge rates. They ensure that Service Units comply with U-M business practices as described on their website. Vendor Maintenance establishes M-Pathways Vendor IDs for the authorized Service Units. Financial Operations' Accounting Services approves system access requests to submit SUB files to M-Pathways (email:AccountingServicesCustomerService@umich.edu; phone: 734-763-4163).
Data related to SUBs are available to view on Statements of Activity and Voucher Detail Reports. All SUB data are available to query against in the U-M Data Warehouse.
Building Effective Queries with Business Objects – Including Canned and Ad-Hoc Queries
"Building Effective Queries with Business Objects" is an introduction to querying the data warehouse through predefined reports and ad-hoc queries. Users will see how they can use the system to tailor results to their particular situations and complement their existing review processes. It is recommended that participants have Web Intelligence and InforView access before signing up for the class. If not, we will do our best to pair users up to ensure everyone is exposed to all of the material.
Endowment, Gifts and UIP
This class will cover what are Gifts and their restrictions, the different types of Endowments and the rules for each type. The University Investment Pool will also be covered - what it is, how much is paid, which funds earn UIP, how it is calculated and more.
Understanding Revenue Type Activity and Transfers within the General Ledger
"Understanding Revenue Type Activity and Transfers within the General Ledger" is a presentation that will discuss what reimbursements, rebills and recharges are and also discuss the several sources of revenue. There will also be a discussion on processing retroactive salary distribution changes and manual payroll journal entries using appropriate account codes. Users will also have a better understanding of determining the proper usage of accounts for transferring expenses and revenue between specific fund sources.
Journal Entry (JE) Processing
This class discusses the life cycle of the journal entry with emphasis on determining necessity, appropriateness and the support needed to prepare and submit a journal entry. The presentation covers the roles of the Operator and Authorizer and the different processes for a Sponsored and Non-Sponsored JE. Additionally, step by step instructions on uploading journals and online journals will also be covered. Each participant will receive a copy of the FinOps JE Training Guide and other training materials to use as reference for future journals. Please note this is a lecture based class and will not be "hands-on".Prerequisite: ITS Course GLE102: Working with Journal Entries (JEs) and access to process JE's in PeopleSoft.
Others as developed
We are also available to present a training class in your unit. Please watch this space for announcements of upcoming classes. Classes will also be announced in advance at the monthly Financial Unit Liaison (FinUL) meetings.
To register for a class or if you have a question regarding a class, contact your FinOps Accounting Services Customer Service Representative (FinOps Coordinator) directly or send an e-mail to AccountingServicesCustomerService@umich.edu