Current Period Adjustments :: Standard Accounting Resource Manual (SARM)

Part III - UNM Finance: Practical Applications

Introduction
Lobo Web Self Service
Internet Native Banner
Journal Entry
- Introduction
- Lobo Web
- Internet Native Banner
- Transfer Entries
- Allocations
- 1900 - Reserves
- 1903 - Change in Reserves Entry
- 1901 - Budgeted Use of Reserves
- 8045 - Interdepartmental Support Entries
- Related Budget Entries Reminders
Transfer vs. Allocation: How to Tell
How to Make the Entries
- Reserves Entry
- Allocation Entry
- Transfer Entry
- 8045 Interdepartmental Support Entry
- Budget Entries
- Common Journal Voucher Mistakes to Avoid:
- Flowchart - Transfer or Allocation?
Classifying Expenses ? The Guiding Principles
- Clarifying Those Codes
- Correct Operating Ledger Category?
- Where to find Account Code Lists
- Basic Account Structure
- Item Text and Business Purpose - Be detailed and specific
- Account Code Selection Guideline
Is the Expense Allowable?
- Allowable Funds: Introduction
- Supply or Service
- Facilities & Administrative Expense Excludables
- Foreign Students, Visitors & Vendors
- Moving Expense (relocation related)
- Travel or Food Expense
- Computer (or related) Expense
- Furniture, Fixture, & Equipment Purchases
- Pre Approved DPI Transactions
Frequently Misused Account Codes
- Supplies
- Local Conferences
- Software
- Equipment vs. Warranties & Service Contracts for Equipment
- Plant Maintenance or a Capital Improvement
Common Errors
- Supply or Service?
- Inventory Control PCard Requirements
- Maintenance, Repair, or Renovation?
- Gifts/Souvenirs/Advertising
Terminating an Index
Reports
- MyReports
- EPrint Reports
- Extracting Data
- MyReports
Salary Expenditures
- Labor Distribution
- Creating an EPAF in Lobo Web
- Labor Redistributions In LoboWeb Self Service
- Labor Redistributions in Banner (PHAREDS)
- How Labor Redistributions are Approved
Procurement
- Introduction to Procurement
- LoboMart Purchase Requisitions
- LoboMart - Placing an Order with the P-Card
- Purchasing Cards (PCards)
- Direct Payment Invoices
- Viewing Documents
- Flow Chart - Purchase of Services: External Vendor
Contract and Grant File Set Up
- Organizing UNM Contracts and Grants
- About Contracts and Grants
- Department Responsibilities
- Document Collection Systems
- Documents
- Pre Award Documents
- Post Award Documents
- Closeout Process
- Reporting
- Appendix 1A - FRRGLDS - Contract and Grant Ledger Transaction Detail Report
- Appendix 1B - FRRGLDS Contract and Grant Ledger Summary Report
- Appendix 1C - Contract and Grant Ledger Executive Summary Report
- Appendix 1D - FORFAPI - F&A Generated by PI Report
- Appendix 1E - FRGGR90 Closeout Workflow for Funds Ending on C&G Report
- Appendix 1F - FNRSLBE Salary Labor Benefits and Encumbrance Report
- Appendix 1G - FNRLDST Labor Distribution Report
- Appendix 2 - Department Closeout Checklist
- Appendix 3A - HSC Contract & Grant Checklist
- Appendix 3B - Main Campus Contract & Grant Checklist
- Appendix 4A - Main Campus Closeout Reconciliation Sheet
- Appendix 4B - HSC Campus Closeout Reconciliation Sheet
- Appendix 5 - Signature Authorization Sheet
Contract and Grant Banner Forms
- Banner Research Accounting Module
- Deferred Grant Process
- Banner Contract and Grant Accounting Forms
- FRIPSTG
- FRIORGH
- FRAGRNT
- FRIGISUM
- FGITBAL
- FRIBDET
- 10-FRIGITD
- FRIGTRD
- FRIBUTG
- FTIFATA
- FRIBILL
- FTIFNDH
- FRAAREV
- Tips and Reminders
Contract and Grant Effort Certification
- Contract and Grant Effort Certification Process
- Why Certify Effort
- The Pre-Review and Certification Stage
- Process Flow-Effort Certification
- How to Complete an Effort Certification
- Navigation Tips
- Status Definitions
- Eprint and MyReports Reports
- Pre-Review Scenarios
- Tips for Reviewing Effort
- Current Period Adjustments
- Prior Period Adjustments
- The PI Completes the Certification
- appendix 1 - UNM Effort Certification Training-Pre Review Stage
- Appendix 2 - UNM Effort Certification Training-Certification Stage
- Appendix 3 - Effort Reporting Guidance
- Appendix 4 - HSC Policy on Principal Investigator Effort on Sponsored Project
- Appendix 5 - Signature Authorization Sheet
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- Introduction
- Key Forms and What They do
- Labor Redistributions
- Labor Redistribution Definitions
- Labor Redistribution Process
- Creating Journal Vouchers
- Document Need for JV
- Create the JV on a JV form
- Correcting Index/Account Posting Errors
- Selecting Journal Type
- Encumbrance Queries
Index Reconciliation
- What Does Reconciliation Mean?
- Definitions and Explanations
- Document Organization
- To Reconcile an Index, what do I need to have?
- What do you need to know to Reconcile an Index?
- How do you Reconcile an Index?
- Associated Reporting
- Flow Chart - Index Reconciliation Process
- Finding and Resolving Payroll Discrepancies
- 10_using_payroll_reports_and_screens
- Accessing Payroll Information in MyReportsrts Reports
- Resolving Payroll Discrepancies
- Finding and Resolving Other Expense Discrepancies
- Source Documents
NSF Checking
- Who and What are affected by NSF Reject?
- How Does Banner Calculate NSF?
- Transactions subject to NSF checking
- Transactions NOT subject to NSF checking
- Account codes do not affect NSF
- How to tell you are in NSF status
- Tools to assist you in checking for NSF
- How to avoid NSF Situations
Budget Tips
- Budget Tips
- Reports That Help with Budget & NSF
Forms and Documents
inventory
- inventory
- inventory control and reporting
- university equipment inventory
- physical inventories
- adjustments to inventory
- assistance from the office of inventory control
- disposition of property
- interdepartmental transfer of property
- inventory control and maintenance best practices
- banner inventory form
- common issues and errors
- physical safeguards
Business Purpose
- Business Purpose
- Staff Responsibility for Business Purpose Clarity
- Requisitions
- Requisition Examples
- Chrome River
- Chrome River Examples
- Petty Cash Reimbursements
- Petty Cash Examples
- Correcting Entries
- Journal Voucher Examples
- Labor Redistributions
- Labor Redistribution Examples
- In Summary

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Standard Accounting Resource Manual (SARM)

MSC 0000 00
1 University of New Mexico
Albuquerque, NM 87131

Current Period Adjustments

All labor redistribution changes will be reflected in the correct payroll period regardless of when you do the correction. For example, if you are reviewing the effort report for the period of Jan – June 2013, in August 2013 and make an adjustment to the January labor 5R1, the effort report will reflect the change you made in August for the Jan period in January.

This is how adjustments are expected to occur; in the current period.