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Training on GLJE, budgeting, Receipt Accrual, 29.03.2013
Transcript of Training on GLJE, budgeting, Receipt Accrual, 29.03.2013
2. Purpose of GLJE (Зачем нам GLJE?)
3. Process workflow (Процесс приготовления)
3.1. Identification of lines for correction (Получение заказа)
3.2. Supporting documents (Ингридиенты)
3.3. Where and how to create? (Технология и рецептура)
3.4. Process of approval and posting (Как и кому подавать)
3.5. Checking (Жизнь удалась))) Budgeting Budgeting for fixed assets under IPSAS 1. General terms
2. Difference between Inventory, Assets and supplies
3. Delivery vs Utilization
4. Budgeting for fixed assets under IPSAS (ЭйчКьюшная презентация)
5. Examples Assets = Liabilities + Capital (Owner's Equity) Expenses Income (Income Statement (Отчет о прибылях и убытках). In case of public sector statement of expenses and income) Statement of Financial position (в народе именуемый балансом) AAA, CDR, CDR Query, IPSAS GL Queries, other queries (Balance, Management Reports - ORO, PRO, FRO, Commitment Control, Asset reports) Commitment Control (budget and resource control) General Ledger (final amounts) For budgeting we use different account than for GL (BA00X accounts) In GL assets are under accounts 18XXX. (e.g. 18100 - fixed asset) Receipt accrual
Момент получения товаров/услуг (receipt):
Dr Supplies* $500
Cr Accrued expenses on supplies (21035)** $500
* Любой другой расходный счет 7XXXX
**Receipt Accrual Liability
Момент оплаты (voucher):
Dr Accrued expenses on supplies (21035) $500
Cr Cash/Bank $500 Receipt accrual
Q&A 1. What is GLJE? GLJE - General Ledger Journal Entry!!!
For the purpose to analyze sample general ledger journal entry first let us distinguish two steps of this concept, i.e.:
business transactions having an impact on the financial position of the business are first recorded in the general journal, which is one of the accounting prime entry books, then
entries from general journal are posted to the general ledger, i.e. to the corresponding account, the universe of which composes general ledger.
This process is divided into 2 steps, since recording of business transactions directly to the general ledger accounts due to significant volume of transactions causes huge amount of mistakes and lost track of their corrections. 2. Purpose of GLJE? a.To create entries that adjust actual transactions as needed for transferring costs or correcting previous entries in Atlas
b. Create transactions, i.e. service billings and fees (Travel, Procurement and etc), GMS and etc.
We should use GLJE to make an adjustment to:
Balance Sheet accounts 3. Process workflow 3.1. Identification (in case of corrections) Track and monitor correct resource utilization and delivery! KK (cash based report).
UN Report -> IPSAS Reports -> Project Budget Balance GL based report.
Home>UN Reports>Financial Management Reports>Accounts Management Reports>Account Activity Analysis 3. Process workflow 3.2. Supporting documents validity (necessary, appropriate, not fraudulent, etc.)
правомерность, уместность completeness
полнота; завершённость correctness
соответствие budget authority
бюджетные полномочия Supporting documents should support the: valid (necessary, appropriate, not fraudulent, etc.)
complete (fully referenced, fully explained)) 3. Process workflow 3.3. Technique (How to create GLJE) 3. Process workflow 3.4. Process of approval and posting 3. Process workflow 3.5. Checking 1. General information 1. General information. ATLAS 3. Difference between fixed assets, inventory and supplies 4. Budgeting for fixed assets under IPSAS Receipt accrual 5. Examples Cash, inventories, supplies, prepayments, PP&E, receivables Делаете необходимые действия в Атласе:
Purchase Order и т.п. Q: Are there any accounting entries related to PO and receipt accrual?
A: The only accounting entries you should be aware of are those relating to receipt accrual. At the end of each month the system debits the PO Distribution Line and credits the receipt accrual account, 21035. This accounting entry is reversed at the beginning of the next month. Q: Why I am seeing negative amount in receipt accrual report that sent by OFA?
A: This usually happens in the report sent to CO quarterly by OFA. When the RA process is posted to General Ledger, it debits the PO distribution line (expenditure account) and credits receipt accrual account. The negative amount represents a credit line in the receipt accrual liability account 21025 since this report is extracted from General Ledger. Q: What is the Receipt Accrual Process?
A: The Receipt Accrual process is the process that captures all “unvouchered” receipts (items for which receipts have been created but no voucher transactions associated), and records them in the General Ledger (GL).
UNDP is required to record an expense for these items under IPSAS and accrual accounting. Management Support Center- https://intranet.undp.org/unit/bom/oist/msc/ Sources Programme Delivery – as measured by CDRs and as reported in donor reports, reflecting expenses as per IPSAS. This is what GMS is calculated on.
Budget Utilization – as measured by the suite of KK-based management reports (RRO, ORO, FRO, PRO, etc.). Equal to IPSAS expenses minus depreciation plus full asset cost.
Why two different concepts needed?
– Treatment of fixed assets;
- Payment against prior year ULO. 2. Delivery vs. Utilization Do not use GLJE for cleaning advances (NEX – Financial Reports and others). For advances use APJV (Accounts Payable Journal Entry) In Atlas GLJE is directly effect general ledger (thus accuracy is very important) Intranet - intranet.undp.org MPN Network Ondemand Training on Atlas Presentation from IPSAS Regional Workshops, 4 October 2012 Other resources Check the status of your GLJE in Atlas. Journal Status should be P (posted) and Budget Status should be V (valid) Check in Project Budget Balance report
(or any other detailed cash based reports) Check in Account Activity Analysis report
(or any other detailed GL based reports) Identify incorrect transaction using Project Budget Balance (or any other cash based reports) Identify incorrect transaction using Account Activity Analysis report (or any other GL based reports) Enjoy your life ))) AND Давайте разберемся в кухне под названием Финансы. Будем рассматривать "блюдо" под названием GLJE. Вы подписали контракт на поставку товаров или оказание услуг (Пример) И ждете, когда доставят товар И вот тот самый долгожданный момент получения товара