Transactions LIVE!
We are pleased to announce that the MyFD transactions application will launch on December 3rd! On the 3rd, a limited group of users will be able to submit salary and non-salary expense transfers online. Also beginning December 3, Payroll will enter all Retroactive Salary Transfers (RSTs) via MyFD. Check the Payroll website to make sure you are using the most current version of the RST form. If an RST transaction posts to one of your budgets after this date, you will be able to drill down from the Transaction Summary Report to view the completed online salary transfer form. If you run any queries to report on RSTs, please watch for a separate email explaining changes in how these transactions are processed and related changes in the data for these transactions.
For those units not implementing in December, all new functionality will be available in January 2009. Administrator and general campus training will be offered beginning in January. Keep a lookout for our training announcements and get ready to start using a great tool!
If you have any questions about implementation, training or timelines please contact myfdhelp@u.washington.
Transactions Application and Reporting Impacts
Some significant changes have been made in how salary transfers (RSTs) are processed, resulting in benefits to end users, as well as changes to the data related to these transactions. We wanted to make sure you are aware of these changes, in particular if you use data downloads or extracts to produce your own reports or analysis.
Currently RSTs and their related benefit transfers are processed by FAS as journal vouchers (TC35s).
Salary transfers will be processed by FAS as payroll transactions (TC70s), and the related benefits transfers will be processed by FAS as automatic benefits transactions (TC73s). Users may need to modify their saved queries in MyFD in order for reporting of salary transfers to be accurate beginning in December. There will be a query template available when we go live in December, to facilitate your getting the data you need via MyFD.
The benefit of treating salary transfers as payroll transactions is that all of the payroll information is included in the transfer, including Employee ID, pay period end dates, FTE, and earn type. In addition, the related benefits transfer will be automatically triggered in FAS, ensuring the correct benefit budgets and historical rates are applied.
To identify expense transfers processed in MyFD using data downloads or other reporting systems:
- Use the “Originating System Code” field and a value of “W” in your criteria. The “W” indicates the transaction originated in MyFD.
- Use the “Originating Area Code” field and a value of “88” in your criteria. The “88” indicates the transaction was an expense transfer.
- If you want to see only salary transfers, use the “Account Code” field and a value of “01[wildcard]” to your criteria.
Benefit transfers related to salary transfers will be identified by their description.
- A value of “RST Staff Benefits” in the “Description” field indicates a benefit expense transfer triggered by a salary transfer processed in MyFD.
- A value of “Payroll Staff Benefits” in the “Description” field indicates a benefits transaction triggered by a salary transaction coming from HEPPS.
Please share this information with anyone in your groups that may benefit from it. In addition, if you have questions, please contact the MyFD Customer Team at myfdhelp@u.washington.edu.
Project Cost Accounting Team Celebrates Major Accomplishments
This past summer, the Financial Desktop’s Project Cost Accounting (PCA) teams wrapped up several years of hard work aimed at enhancing the ability of campus units to use PCA to better manage their finances. The PCA User Task Group, and subsequently, the PCA Coordinating Team were formed to address the project cost accounting needs identified in the Financial Desktop Initiative feedback sessions. These teams did an outstanding job surveying the user population to better understand, define, and prioritize their work in this area. The groups adapted their strategy as needed, and were able to achieve major improvements by working with individual billing units on campus. They also established a support system for new and existing PCA users on campus through online help pages, the MyFD customer support team, the PCA mentor contact program, and PCA community discussion email group. Their final recommendations are being shared with other parts of the Office of Information Management, to ensure that all opportunities for meeting those remaining user needs are explored. In the meantime, the success of their efforts is evident in the near 100% support of PCA by internal billing units, and in the increased number of new PCA users on campus that now uses this tool to help manage their finances.
You can view the PCA Closing Report here here.
Option for Printed BAR & BSR Reports
Administrators now have the ability to voluntarily “opt out” of receiving printed BAR (Budget Activity Reports) and BSR (Budget Status Report) reports in their department. They may choose to stop receiving reports for a particular budget, or for all budgets within an organization code.
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