Finance and Accounting Wire - 2004-05 #001

In accordance with new UF rules for most direct support organizations (DSOs) as reflected in the June 11th, 2004 DDD memo and attachment from the University Controller, all expenditures made for and on behalf of the University will be paid through UF rather than directly from the DSO. These new rules apply to the following DSOs:

• University of Florida Foundation
• University of Florida Law Center Association
• Florida Foundation Seed Producers
• Florida 4-H Club Foundation
• Southwest Florida Research and Education Foundation
• Citrus Research and Education Foundation
• Florida Leadership and Education Foundation
• Treasure Coast Agricultural Research Foundation

The UF Foundation has two additional documents available on their Web site to help explain the impact on your department or college with regard to UFF funds and how to transfer funds: Memo of Understanding and New UF Requirements for Spending DSO Moneys.

The primary procedure is offered as the quickest method to receive your funds from the DSOs.

  Funds Request Primary Procedure: Move Money from DSO to the University  

1. Complete a Disbursement Request as required by the DSO (i.e., for UFF use a UFF-D form).
   

   See sample included with New UF Requirements for Spending DSO Moneys. Please call Judy Kratzer (392-5971) if you have any questions about UFF rules or transactions.

2. Enter a deposit in the PeopleSoft Accounts Receivable (A/R) module.
   

   The security role UF_CR_AR_CASHIER is required in order to have access to enter deposits in PeopleSoft. Contact your Departmental Security Administrator to add this role. A deposit unit has been added for each DSO, i.e., UFF for the University of Florida Foundation. Select the unique deposit unit for the DSO you are requesting money from. Detailed procedures for entering a deposit are located at http://www.bridges.ufl.edu/training/instruction-guides.html, scroll down to Direct Journal Deposits, "Example of Editing Direct Journal Deposit Entries". A condensed version follows at the end of this document, see Direct Journal Deposit Procedure. Use Fund 171 and account 430000 for most moneys from DSOs. Moneys deposited for scholarships will need to be moved to the appropriate UF fund using a Cash Transfer.

   Moneys deposited to UFF must not be for specific sponsored research or have reporting requirements or deliverables, budget requirements or end dates. If they do, UFF should send directly to DSR and no UFF fund should be established. Moneys to support research on humans and animals must also be sent directly to DSR for management.

   All UFF moneys transferred to UF should be deposited Fund 171. That way we have a clear record that UFF moneys from Fund XXXXXX were deposited to a specific CF String with the appropriate Source of Funds value. To the extent those moneys support travel, salary supplements, and other purchase like computers and supplies, we capture that information wtith the SOF value. If later those funds are needed to support IRB/IACUC activities, they should be transferred out of Fund 171 to a Project in Sponsored Research Fund 209 that manages these activities. Any money transferred out of Fund 209 would clearly be going to support DSR supervised activities and we would have that trail. This would provide the correct accounting back to UFF and ultimately to the donors.

3. Print three copies of the Deposit Transmittal Form (DTF).
   

   Information from the deposit you created will print on this form. An instruction guide is available at http://www.bridges.ufl.edu/training/instruction-guides.html. Look for Finance -> Customer Relations -> "Deposit Transmittal Form". Sign and provide contact information on the form. Be sure contact information is provided on the DTF (name, phone, address).

4. Send two copies of the Disbursement Request with the three copies of the DTF to the DSO.
    
5. The DSO will process the Disbursement Request.
    
6. The DSO will send the check and two copies of the DTF to the University Cashiers at S-113 Criser Hall (POB 114050).
    
7. The University Cashiers will verify the deposit and send the money to the bank.
    
8. The University Cashiers will return one copy of the DTF to the UF department as confirmation of the deposit.

  Funds Request Alternate Procedure: Move Money from DSO to the University  

An alternative procedure is also offered until departments have staff trained to prepare deposits in the PeopleSoft A/R module. This process may take longer to get the money to the department.

In these alternative procedures complete step 1 as listed above.

In lieu of steps 2 and 3 listed above complete a Transfer to UF paper form as provided by the DSO (i.e., for UFF complete a UFF-U form). This form is used to provide the correct accounting information needed to process the deposit.

For the remaining steps 4 through 8, where the Deposit Transmittal Form (DTF) is referenced substitute the Transfer to UF paper form. Please supply the number of copies as requested.

Please contact Linda Shreve or Kathleen Tillett at 392-0779 if you have any questions about the new UF process.

  Direct Journal Deposit Procedure  

The following instructions provide a quick list of steps to create a direct journal deposit in PeopleSoft.

1. Direct Journal Deposits
   Navigation:
   myUFL -> Accounts Receivable -> Payments -> Online Payments -> Regular Deposit
    
   1. Add Deposit Page
      
      1. Select Add a New Value Tab
      2. Pick Deposit Unit: To look up, click on magnifying glass to see list
      3. Select ADD
   2. Control Totals Page
      
      1. Acctg Date: Date submitting to DSO, same as date on Disbursement Request.
      2. Deposit Type: Use K for Check
      3. Control Currency: type in USD
      4. Go to Control Totals Box
      5. Enter Control Total Amount: Enter the total of the Disbursement Request
      6. Count Total is one
      7. Go To Control Data Box
      8. Fields default in, can change dates if desired
   3. Payments Page
      
      1. Click on Payments Tab
      2. Go To Payment Information Box
      3. Enter Payment ID - i.e., check number or reference ex. UFF070104 (DSO & Date)
      4. Enter Amount - same as total on Disbursement Request
      5. Check (Select) Journal Directly
      6. Click Refresh (bottom of screen) - will update the page information
      7. Balance Status now reflects: Balanced (upper right corner)
      8. Click Save
      9. Deposit ID# assigned
          
2. Create Accounting Entries
   Navigation:
   myUFL -> Accounts Receivable -> Payments -> Direct Journal Payments -> Create Accounting Entries
    
   1. Select Search (deposit unit and id should default on search page)
   2. Enter DeptID
   3. Enter Fund Code: Use 171 for transfers from DSOs
   4. Enter Program Code
   5. Enter Account: Use 430000 (revenue) for transfers from DSOs
   6. Enter Source of Funds (i.e., for UFF, F and the UFF Fund number (Fxxxxxx)).
   7. Bud Ref - always CRRNT (Current) can enter in lowercase
   8. Line Amount (scroll to right) - enter as a negative since it is a credit to revenue
   9. Select the + button to add additional accounting lines as needed
   10. Select the icon to Create Accounting Entries (lightning bolt), cash entries are created
   11. Select Complete box
   12. Select Save
        
3. Department Transmittal Form
   Navigation:
   myUFL -> Accounts Receivable -> Payments -> Reports -> Deposit Transmittal Form
    
   1. Enter the DSO Deposit Unit
   2. Enter the Deposit ID
   3. Enter a Run Control ID, select Add New Value if needed, can use name like DTF or RPT, this is required to run the report
   4. Click Run
   5. Click OK
   6. Click Process Monitor (blue link next to Run button)
   7. Click Refresh, until 'Success' is shown (wait a few seconds between refreshes)
   8. Click Details
   9. Click View Log Trace, bottom right (look in 'File List', usually the middle file)
   10. Click on file: ends in .pdf or .htm
   11. Print copies
   12. Sign the DTF(s) and provide contact information on the forms (name, phone, address)
   13. Submit the DTF(s), Check(s), calculator tape and other backup documentation as required in the past
        

Information from the deposit you created will print on this form. An instruction guide is available at http://www.bridges.ufl.edu/training/instruction-guides.html.

Please contact Linda Shreve or Kathleen Tillett at 392-0779 if you have questions about preparing a direct journal deposit.