Report P1 Fiscal Year-to-Date Financial Status
As part of your monthly reconciliation process you need to review each transaction that went into each of your accounts in all your projects and understand what each transaction is and that it is in the correct project/account. You can access this information via the WolfPack Reporting System (WRS).
To access the WRS log into MyPack Portal and navigate to Financial System Homepage. You will see a tile for “Wolfpack Reporting System – WRS”.
On the top, left hand side of the page under “Step 1” is a list of reports you have available to you. Report P1 should be chosen already by default.
Enter the project ID # in “Step 2”. If the project you are running the report for has multiple phases and you wish to only run the report for one phase you will need to check the “Exact” box. If you do not check the box the resulting report will show a total for the parent and all the phases together.
Enter the “As of” Date in “Step 3”. You can click on the arrow to get a list of available dates. The report will be run for “Year To Date” through the month end you choose.
Click “View Report”
The resulting report will have seven (7) columns.
The first column is the Account group, followed by the Account Group Description. Then starting with the third column you have: Current Year’s Budget, Current Month Activity, Fiscal Year to Date (FYTD) Activity, Encumbrances and the Remaining Budget Balance after FYTD. Encumbrance amounts have been deducted from the beginning budget and the last column is the Budget Balance Available as of the date of the report.
You can click on any line in the “Current Month Activity” or the “FYTD” activity and get a break down of the accounts in that group and the amount expensed to each account. However since you need to review all transactions for the month the best way to proceed is to click on the “Total Operating Expenditures” in the “Current Monthly Activity” column.You will then see a list of each operating expense account (Account number and description) as well as the amount posted to each account for that month. You can click on each line if you wish to get a detail of transactions for that account or you can click on the “Total” amount and get a list of all transactions into all expense accounts for the month.
If you are the one that reconciles your departmental Purchase Cards and enters invoices for payment most, if not all of these transactions should be known to you. Looking under “Journal ID” you will see a ten character code which will give you information as to where this transaction came from.
If the code starts with:
AP – An invoice entered into the AP system
CP – A Purchase Card transaction. These entries usually also have a link to “View Transaction” that will take you directly to that Purchase Card statement and receipt.
FO – Facilities charge for Work Order
GS – Gas Cylinder Rental
MP – Marketplace
MS – Mail Services
PC – University Graphics
SA – Security Technology
SP – Surplus Property
SS – University Bookstore
TS – Telephone Services
WC – Wolf Copy
Many of these departments can charge items to your projects without your approval such as Mail Services, Facilities and University Bookstore so be sure you know what these charges are for. Having a system in place that ensures you are notified when someone in your department submits a workorder to Facilities or purchases and “charges” items in the Bookstore is very important.
If you find any transactions that were posted/reconciled to the wrong project or account you will need to complete a Journal Voucher request in order to correct the transaction.
Note: You will not be able to access detail for the Salary expense through Report 1. To get a detail by person and payroll of these amounts you will need to run Report P3.
Report P3 Detailed Payroll Expenditures
Report P3 will show you a detail, by person and by payroll, of the amounts on your Report P1 in the Salary section.
If Report P3 is grayed out it means you department has not given you access to view this report. You will need to request it through your supervisor or business office.
Enter the project ID # in Step 2. If the project you are running the report for has multiple phases and you wish to only run the report for one phase you will need to check the “Exact” box. If you do not check the box the resulting report will show a total for the parent and all the phases together.
Enter the “As of” Date in Step 3. You can click on the arrow to get a list of available dates. The report will be run for “Year To Date” through the month end you choose. You can also check the box “Month Only” if you just want the report to run with one month’s transactions listed.
Once the report runs you can click on any person or total line and get a detail of what comprises those amounts.