Streamlined banking newsletter [Apr. 2007 (Issue 9)]

Streamlined Banking Newsletter

April 2007 Issue 9
INSIDE THIS ISSUE
1 Important Dates to
Remember
1 Spotlight: Book to
Bank Reconciliation
4 Approved Policy
Review
6 Take a Peek at
Transition Session #6!
7 Reports & Queries 8 End User Training 9 Pilot Deployment
Schedule
9 Stabilization Schedule 10 Want to be in the
Know?
10 Contact Us!
See Approved Policy Review on page 4

SLBFeedback@sao.ga.gov sao.georgia.gov 404.656.2133
Important Dates to Remember
Dates have changed!
Go-Live HCM Streamlined Banking April 25, 2007
Go-Live Financials Streamlined Banking May 7, 2007
Transition Session # 7 April 5, 2007
Spotlight: Book to Bank Reconciliation
Overview: This is the difference between daily reconciliation and Monthly book to bank recon:
The daily bank reconciliation matches transactional data recorded at the bank to what was entered in Peoplesoft with no tie to balances in the General Ledger.
The Monthly Book to Bank Reconciliation ties the bank balance from the agency main deposit account at Bank of America to the balance in PeopleSoft General Ledger for account 102400.
RECONCILIATION OF DEPOSIT EXCEPTIONS ON A DAILY BASIS MAKES THE MONTHLY BOOK TO BANK RECONCILIATION EASY AS 1 2 3.
Continued on Page 2

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Streamlined Banking Newsletter

Spotlight: Book to Bank Reconciliation

Reconciling Deposits a Daily & Monthly Process
Bank Statement files from the Bank of America for the agency main depository accounts are received on a daily basis by the State Accounting Office and will be automatically loaded into the PeopleSoft system.
Automatic reconciliation will be run on a daily basis to match the system deposits made by the agencies and recorded in PeopleSoft to the bank statement deposits (daily file from bank)
Agencies will need to resolve any deposit exceptions on a daily basis using semi-manual reconciliation and any correcting entries in the Accounts Receivable module.
Entries that could possibly affect the 102400 account include:
Deposits Manual Deposits prepared and entered by the agency; Lockbox Deposits prepared by the lockbox agent; and Credit Card receipts prepared by the Credit Card bank.
EFT Amounts credited by an EFT/ACH payment Wires Amounts credited by wires Returned Deposits Deposit amounts reversed for insufficient funds of payee Allocation General Ledger journal entry to move funds to 101005.
Screenshot - Reconciliation of Daily Transactions page:

(Continued on next page)

Streamlined Banking Newsletter
Spotlight: Book to Bank Reconciliation
At Month End:
Before performing book to bank reconciliation: All subsystem and general ledger transactions should be posted to the general ledger All deposit exceptions should be handled Reconciliation status for all daily reconciliations should be set to "reconciled"
Agencies perform book to bank reconciliation for their main deposit account (102400) in PeopleSoft at calendar month end.

Page 3

Book to Bank Reconciliation Steps:
Review and analyze Book to Bank reconciliation details Process any correcting entries in PeopleSoft (missing/incorrect
deposits in AR or adjustments in General Ledger) Journal Generation run in batch nightly processing Next Day Re-run Book to Bank Reconciliation Book to Bank difference should now be zero Confirm statement as reconciled
Confirming the Book to Bank Reconciliation indicates:
You have reviewed all the differences for the Ledger Balance and the Bank Statement balance.
To the best of your knowledge, the balances tie between the bank and the General Ledger
PeopleSoft

Page 4

Streamlined Banking Newsletter

Approved Policy Payroll Disbursements

Policy Number CM-100005

Section Name Cash Management

Policy Name Payroll Disbursement

Effective Date February 28, 2007

I. Purpose
This section will provide guidelines mainly regarding the centralized payroll disbursement method for Streamlined Banking agencies. Non-Streamlined Banking agencies shall follow polices and procedures relevant to their current disbursement activities.

II. Background
All Streamlined Banking agencies will follow the policies and procedures as outlined below for Payroll disbursements. Organizational changes which were implemented include transferring responsibility to the State Accounting Office (SAO) for processing and monitoring payroll reconciliation transactions. Additionally, Streamlined Banking agencies will not be allowed to manually type and confirm a replacement check for its employees. If necessary, SAO will process any manually typed or On-Line checks
Physical changes on Payroll checks for Streamlined Banking agencies will include the following: (1) The issuing authority on Payroll checks will read:
State of Georgia Payroll Account 200 Piedmont Avenue, Suite 1604, West Tower Atlanta, GA 30334
(2) The State of Georgia's seal will appear on the checks. (3) The agency's name will appear on the top left corner of the check. (4) The Treasurer's signature will be the authorized signature on payroll checks.

Pay To The Order

To: Vendor

Streamlined Banking Newsletter
Approved Policy Payroll Disbursements (cont)

Page 5

III. Policy
A. Agencies should use the most cost effective payment methods available to make disbursements. For HCM users, direct deposit (ACH) is the preferred payment method for payroll disbursements.
B. Agency employees' may be set up for direct deposit or a system check for net pay distribution, but not both simultaneously. Agencies should monitor their records to ensure that employees are adhering to this policy.
C. Employees who elect direct deposit can select a maximum of (3) accounts for net pay distribution. These accounts may include a savings account or checking account at credit unions, banks or other financial institutions. Agencies may selectively enforce this maximum or be more restrictive but may not allow more than the maximum.
D. Agencies will have (3) business days after being contacted by SAO via email or phone to correct ACH returned items.
E. Streamlined Banking Agencies will not be allowed access to blank checks for the purpose of creating a manually typed check. SAO will provide On-Line (Express) checks as a substitute.
F. The minimum amount agencies can request for an On-line Payroll (Express) check from SAO will be $100.

For more information on this policy, visit the Streamlined Banking website @ http://sao.georgia.gov/00/channel_createdate/0,2095,39779022_59931115.00.html

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Streamlined Banking Newsletter

Take a

peek at attendees of Transition Session #6 meeting on March 8, 2007

Most agencies have representatives at Transition Session #6

Participants in Transition Session # 6

Streamlined Banking Newsletter

Page 7

SLB Reports & Queries

Reports to be available at Go-Live for Agency use include:

Accounts Payable Control Group Report This report has been modified to include Vendor ID and address so that SLB agencies may perform a check run audit prior to the actual check run. AP Aging Report This is a new report which will list all outstanding payments with a payment status of paid or un-reconciled. Displays by age in ranges of 30-90-120-180 days. AP Escheatment Report This is a new report which will be used by the SLB Agencies and the State Accounting Office to display payments escheated in the system by age as well as any reissued payment out of the 262002 account.

Accounts Receivable Agency Depository Reconciliation Exceptions Report This is a new report which will lists exceptions between transactions recorded at the bank and transactions recorded in PeopleSoft to the agency's main deposit account.

General Ledger Revenue by Funding Source Report This is a new report which will be used to verify revenue remitted to the treasury for revenue collections. Cash Control Report A new report which will show actual cash paid through the agency cash account (101005) by Funding Source from each SLB Business Unit. It will replace the Allotment Statement for SLB agencies.

HCM

HCM Aging Check Listing This report has been modified to lists payroll checks that have been outstanding less than 30-60-90 days, and greater than 90 days as of the end of the previous month.

Queries to be available at Go-Live for Agency use include:

HCM 0SLB04_HCM_ESCHEATMENT This query will return results indicating a list of payroll checks for Escheatment processing.

Cash Management (partial listing) TRC1010_SETTLEMENT_INSTRUCTIONS - This query will display settlement instructions for all settlement IDs of a specified SetID TRC1014_CASH_FLOW_SETTLEMENTS - This query will display bank, account and settlement information for cash flows for a specified timeframe. TRC3014_SETTLEMENTS - This query will display settlements information for specific dates

For a Complete listing of both Reports and Queries, please see the State Accounting Office website @ http://sao.georgia.gov

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Streamlined Banking Newsletter

SLB End User Training Pilot Agencies Only

Training for Streamlined Banking will be limited to the six pilot agencies at this time. We will be utilizing instructor led UPK training.

Several of the existing UPK topics have been modified to include Streamlined Banking processes and others have been added.

Training will be held on April 17, and April 24, 2007 at the State Accounting Office Training Center.

Each training session will be held for one half day. We plan to hold AP and HCM/Labor Distribution on April 17, 2007. Banking, Cash Management, and AR training will be held on April 25, 2007.

The Accounts Payable training will include Entering Vouchers, Payments, InterUnit Transactions and Escheatment.

HCM and Labor Distribution training will include Payments, Escheatment and reconciling Labor Distribution.

Banking & Cash Management training will include Bank Reconciliation, Managing Agency Cash and Allotments.

Accounts Receivable training will include how to make deposits into the new accounts and recording those deposits.

Training courses have been set up in Enterprise Learning. If you are a pilot agency, sign up today!

Name of Course AP/HCM/LD
Banking/Cash Mgmt/ AR

Course # 407SB01
407SB02

Session # 0001
0001

Dates/Times April 17, 2007 8:30am 12:30pm April 24, 2007 8:30am 12:30pm

Have your Agency Training Coordinator sign you up today! If your agency has no training coordinator or the session is full, please email SLBFeedback@sao.ga.gov and someone will register you for the session number listed above. Please be sure to have you employee ID number, phone number, and email address ready.

Streamlined Banking Newsletter
Pilot Deployment Schedule

Page 9

Stabilization Sessions for Streamlined Banking GoLive!
SAO will be conducting Stabilization sessions during the first seven weeks of Streamlined Banking. Users may call into the toll free number listed to join in the conversation. After dialing the toll free number you will be instructed to dial a room #. Be sure to include the * before and after the room number

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Streamlined Banking Newsletter

Want to be "In the Know"?
"FS Official Communications" are e-mailed on a regular basis to users who have subscribed to the Listserv system. One way to be "in the know" and receive these communications is to sign up for a Listserv!
Put yourself in the "LOOP"! There is no cost to subscribe and it's easy to do! You can also unsubscribe at any time. Please be aware, however, that the more elists (modules) that you sign up for, the more emails you will receive in your inbox. We recommend only signing up for the lists applicable to your job duties.
Listserv is one of the most effective ways for you to obtain information and communications relative to your PeopleSoft system. If you have not already done so, sign up now.
Available lists include: Financials -AP, AR, AM, GL, PC, Labor, Budget, and PO HCM Human Resources, HR Budget, Payroll and CSB's
Visit the SAO Website and click Financial Systems > Related Links > ListServ and subscribe today!

For more information on the Streamlined Banking Project or comments/ questions about the Project Newsletter, contact the communications team at:
SLBFeedback@sao.ga.gov
Additional information can also be found at the SAO Website by clicking on the Streamlined Banking link:
http://sao.georgia.gov
State Accounting Office Statewide Accounting 200 Piedmont Ave., Suite 1604, West Tower
Atlanta, GA. 30334 - Phone: 404-656-2133 - Fax: 404-463-5089