SSC Financial Services coming April 2015 1 This presentation is an overview of financial services that will be provided by the Shared Services Center (SSC )beginning April 2015. It is designed to give you foundational information to help you and your unit prepare for the upcoming transition of services to the SSC. More detailed information, including new email addresses for requesting and inquiring about SSC In this module: • New SSC financial services • What’s changing and what’s staying the same • What the processes will look like • What’s next • Resources services, will be provided in unit training sessions to be held closer to the go live date. 2 SSC Financial Services – Winter 2015 New Financial Services at the SSC Overview Beginning April 2015, the following new financial transactional services will be provided by the SSC. 3 • Accounting Customer Service • Statement of Activity (SOA) Reconciliation • Gross Pay (GPR) Reconciliation • Expense Report Creation SSC Financial Services – Winter 2015 New Financial Services at the SSC Accounting Customer Service The SSC Accounting Customer Service team keeps the university’s accounting • Accounting Customer Service in SSC will be replacing system up-to-date, monitors key financial your Financial Operations coordinator at Wolverine activity, and helps others at the university Tower, with new contact email addresses use it effectively in their jobs every day. NOTE: There are few changes affecting units: The name has changed from Accounting Services Customer Service to Accounting Customer Service, and these services will be located at the SSC. 4 What’s New? • The team will assist units with approver table* maintenance if requested • Units will request ChartFields and journal entries using new online forms • The Endowment Chart Field Request Form is updated *The approver table is a new M-Pathways tool units may use to delegate AP and JE transaction approval authority to one or more individuals in their unit. SSC Financial Services – Winter 2015 New Financial Services at the SSC Accounting Customer Service Process • Identify need for accounting help and SSC request assistance • Request new ChartFields / journal entry processing • Record various financial activities Units 5 • Provide accounting training • Maintain, update the accounting system • Create ChartFields/ process JEs if requested • Use new ChartFields to track projects, grants, department spending • Use new accounting knowledge in their jobs Units SSC Financial Services – Winter 2015 New Financial Services at the SSC SOA Reconciliation What’s New? The SSC SOA Reconciliation team will reconcile exception based transactions only. The SOA team will also assist units with questions that arise from • View-Only Access in eReconciliation for units using SSC SOA reconciliation services* • Approver Table: A new tool to enable units to identify appropriate transaction approvers will be used to automatically management reports. reconcile transactions in the reconciliation process • Management Reports: Units will look for abnormal patterns and trends to inform decisions NOTE: Units will continue to be responsible for initiating and approving transactions; budgeting; and reporting • Documentation: Units will supply the SSC with supporting documentation when required *Units not using Shared Services – such as the U-M Hospital, among others – will continue to reconcile using eReconciliation. 6 SSC Financial Services – Winter 2015 New Financial Services at the SSC SOA Reconciliation Process • Use available money to support the unit’s SSC activities • Initiate and approve transactions • Maintain approver table appropriately approved • Maintain / update the accounting system Units 7 • Verify charges are • Provide management reports • Work with SSC to resolve discrepancies • Provide supporting documentation • Use new management reports to inform decisions Units SSC Financial Services – Winter 2015 New Financial Services at the SSC GPR Reconciliation The SSC GPR Reconciliation team (part of the SOA Reconciliation team) will reconcile exception based transactions What’s New? • trends to inform decisions only. The GPR team will also assist units with questions that arise from management reports. Management Reports: Units will look for abnormal patterns and • Documentation: Units will supply the SSC with supporting documentation when required NOTE: Units will continue to be responsible for time entry and approval. Payroll processing is not changing, 8 SSC Financial Services – Winter 2015 New Financial Services at the SSC GPR Reconciliation Process • Approve / initiate HR transactions in M-Pathways Units SSC discrepancies • After payroll run, review weekly, biweekly, monthly and off-cycle payroll transactions • Identify errors 9 • Work with SSC to resolve • Provide supporting documentation • Use updated information to inform decisions Units SSC Financial Services – Winter 2015 New Financial Services at the SSC Travel & Expense Report Creation Units have an opportunity to use a new What’s Being Offered at the SSC? team at the SSC to create expense reports on behalf of faculty and staff who • university faculty and staff who use delegates prefer to use delegate assistance, or they can continue to provide these services Prepare expense reports in Concur on behalf of • Reconcile P-Card transactions through delegates within their unit. NOTE: Faculty and staff will still be able to create their own expense reports in Concur, if they choose. The SSC T&E team follows the university’s Travel and Expense policy (SPG 507.10-1) and will apply more restrictive unit policies where requested. 10 NOTE: Units will continue to use the paper Travel and Business Hosting Expense Report form and create/request payment requests in M-Pathways for guests and students who are not eligible for reimbursement through Concur. SSC Financial Services – Winter 2015 New Financial Services at the SSC Travel & Expense Report Creation Process SSC • Request Concur • Notify SSC T&E team of any expense report necessary report corrections preparation • Provide expense information and receipts • Prepare Concur expense reports • Request missing or additional information as • Provide supporting documentation • Submit and approve expense reports needed Faculty/Staff 11 Faculty/Staff SSC Financial Services – Winter 2015 New Financial Services at the SSC Travel & Expense - Requesting Services Faculty and staff requesting expense report creation will email [email protected] and provide the following: • • • 12 ShortCode(s) Business purpose(s) Receipts/supporting documentation SSC Financial Services – Winter 2015 New Financial Services at the SSC Summary of Key Changes Accounting Services 13 SOA / GPR Reconciliation • Accounting Customer Service will be located at the SSC. • The SSC will reconcile exception transactions on behalf of units • Contact information will be provided in unit training and on the SSC website. • Units will maintain the new approver table Travel and Expense Report Creation • A new group of staff at the SSC are available to create Concur expense reports for those who request it. • Units will use new management reports to identify trends to inform decisions SSC Financial Services – Winter 2015 New Financial Services at the SSC Unit Training Sessions Coming Soon! More information about new financial Unit training information will be sent to members of the services will be provided at campus-wide following groups: training sessions in late February and March. Dates, times, locations, and registration information will be available soon via email and published in CTools. Training • AST SSC Unit Reps • SSC Unit Liaisons • SSC.hr.updates (opt-in MCommunity Group) • SSC.finance.updates (opt-in MCommunity Group) sessions will be recorded and published for viewing at a later date. 14 University of Michigan Shared Services New Financial Services at the SSC Stay Informed! Join MCommunity groups to stay informed about SSC processes, tips, updates and more. • • For SSC HR updates, join the group: ssc.hr.updates For SSC Financial updates, join the group: ssc.finance.updates To join: • Go to MCommunity (https://mcommunity.umich.edu) • Click the Log In link to log in • Type the group name you wish to join in the Search field • Click Search • Click Join Group To opt out of MCommunity group(s): • Repeat steps 1 through 3 above • Click Resign 15 University of Michigan Shared Services New Financial Services at the SSC Resources CTools: HR & FINANCE PROCESS SHARING SESSIONS: Information about the Winter 2015 implementation is Winter 2015 Implementation HR and Finance process available on the CTools site and updated regularly as sharing session recordings are available on the AST UTS new information becomes available. website: To access CTools resources: 16 • Log in to ctools.umich.edu • Click Membership • Click Joinable Sites • Search AST UTS • Click Join click here to watch Finance Process Sharing Session click here to watch HR Process Sharing Session University of Michigan Shared Services We know your time is valuable and hope this presentation is helpful in anticipation of the New Finance Services being implemented at the SSC. If you have any questions about upcoming training, please contact the SSC Training Team at [email protected] 17 University of Michigan Shared Services
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