Commitment Control (KK1):Budget Inquiry

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Commitment Control (KK1):

Budget Inquiry

Presented by Teri Byrne | August 16, 2016

FO R O CT OB ER 3, 201 6

GO LI VE

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Q & A Forum Read posts

(public)

New Question/Post

(requires Google login)

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Budget Management:

The Big Picture

A

View Budgets, Expenses, Encumbrances

and Balances

B

Run Budget reports and

queries

C

Create a Budget journal

or transfer

D

Edit, Copy and Unpost a Budget journal

or transfer

E

Submit, Approve and Post a Budget

journal or transfer

I N P E O P L E S O F T , B U D G E T M A N A G E M E N T H A S 5 M A I N P A R T S

KK1 KK2

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Objectives

 Navigate to and use the Commitment Control (KK) module

 Use PeopleSoft budget terminology

 View summarized budget information

 Drill down to detail level

 Download information into Excel

 Run and view budget reports

B Y T H E E N D O F T H E S E S S I O N , Y O U W I L L B E A B L E T O :

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Concepts & Terminology

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FIS PEOPLESOFT

Account Number ChartString Adopted Budget Original Budget Revised Budget Adjustment Budget Budgets Commitment Control BUDTRN Budget Transfer page

BUDADJ Budget Journal page – No BUDUPD in PeopleSoft DDACCT Chart Field Values

(Main Menu > Set Up Financials/Supply Chain > Common Definitions >

Design ChartFields > Define Values >ChartField Values)

EXPINQ/REVINQ Budgets Overview>Inquiry Results page MDACCT SDCOE Custom Menu Item

SACS Component ChartField

TRANS Commitment Control Budget Details page VALTBL Combo Edit

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ChartField Names and Examples

FIS ^Fund ^Resource ^Goal ^Function ^Object _Location^School/ ^Location ^Project_Year

PeopleSoft ^Fund ^Resource ^Goal ^Function ^Object ^Site ^Operating_Unit ^Project_Year

Balance Yes Yes

Length 4

(2 + 2)

7 (4 + 3)

4 4 7

(4 + 3)

3 3 1

Materials

Budget Journal 0100 0000000 0001 1000 4300000 111

Revenue

Suspense 1300 9999000 0000 0000 8999000 000

Cardiff Nutrition

- Food 1300 5310000 0000 3700 4700000 222

District School

Supplies 0100 0000000 1110 1000 4300000 000

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 Current District Number will now be referred to as Business Unit (Ex: District Number 063 will be Business Unit 06300)

 Fiscal Year/Budget Period 2016/2017 = 2017 in PeopleSoft

 Accounting Period = Month (ex: Period 1 = July, Period 6 = December, etc.)

 Required ChartFields: Fund, Resource, Goal (specific or 0000), Function 0000, Object & Site or 000.

 Operating Unit is not allowed for Revenue ChartStrings.

 Project Year is optional.

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What is Commitment Control (KK)?

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In PeopleSoft, budget monitoring is done in the Commitment Control (KK) module.

Commitment Control enables you to control or track expenditures to predefined, authorized budgets.

Commitment Control enables you to:

 Create and maintain control budgets for either Expense Budgets (KK_Detail) or Revenue Budgets (KK_Revenue).

 Check actual transactions (such as actual expenditures and revenues) against control budgets.

 Check imminent future financial obligations (pre-encumbrances and encumbrances) against control budgets.

ALL transactions look at the Commitment Control when budget checking.

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Ledger Groups

• KK Detail = Expense Budgets

• KK Revenue = Revenue Budgets

Control vs Track Spending

• Control Spending: High maintenance;

does not allow budgets to go negative.

• Track Spending: Allows budgets to go negative for all transactions

Budget Entry Types

•Original = Adopted Budget

•Adjustment = Adjustment to adopted budget

•Transfer Original = Transfer of original budget

•Transfer Adjustment = Transfer of adjusted budget amounts

•NOTE: Transfers must balance.

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What is Commitment Control (KK)?

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Adjustment Process in PeopleSoft

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Types of Budget Inquiries

 Budget Overview = To view a summary of a budget

Similar to EXPINQ/REVINQ in FIS

 Budget Details = To view detailed budget information

Similar to TRANS in FIS)

 Ledger Inquiry = To view specific ledger pages and budget activity

 Activity Log = To view transaction lines and affected budgets

 Budget Checking Status = To view status of transactions and exceptions

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Budget Reports

A Navigate to the

report

B Enter/find the Run Control ID

C Enter or update the parameters,

then Run

D Monitor the report process

(if desired)

E View, print or save the report

ORDERING ALL REPORTS IN PEOPLESOFT REQUIRES 5 STEPS

Budget Report Types

 Budget Transaction Detail: Overview of transactions for a particular budget; similar to TRANS

 Budget Status: Overview of budgets; similar to EXPINQ/REVINQ

 Revised Budget Summary: Overview of budgets (either Revenue or Expense)

 Ledger Details: Similar to Budget Status, different format/description option/no pre- encumbrances

 Activity Log: Activity for a specific transaction

 Activity Log Summary: Activity for a specific transaction type

 Budget Attributes: Status of a budget (open or closed)

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Q & A

Before we go to the course evaluation, what kinds of questions can we answer?

COURSE EVALUATION

Please go to the Links page on the CRC website.

Scroll all the way to the bottom and click on Charlie Brown.