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Session ID:
Prepared by:
Reconciling Project Costing
to the General Ledger
Functional Reconciliation /
Analysis Tips & Tricks
101530
@SpearMC
Jessica Mann
Practice Director – Grants Management
SpearMC Consulting
Agenda
• About Us
• PC to GL Reconciliation Introduction
• Reconciliation Steps
• Other Reconciliation/Analysis Tips & Tricks
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About Us
Your Presenter
Jessica MannPractice Director – Grants Management
866-SPEARMC x815
www.SpearMC.com• 15 Years – PeopleSoft
Consulting Experience
• 12 Years – Specialty in PeopleSoft Grants Management– Grants
– Project Costing
– Contracts
– Billing
– Accounts Receivable
– Commitment Control
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About SpearMC
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Founded in 2004, SpearMC is a technology and professional services firm specializing in
PeopleSoft Financials and Supply Chain Management
PeopleSoft Human Capital Management and Payroll
Maximo Enterprise Asset Management
Oracle Business Intelligence
ERP Architecture and Application Development
Project and Program Management (PMO)
Change Management
ERP Training
Mobile Technology
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About SpearMC
Offices in Chicago, Denver, Houston, Phoenix, Seattle and San Francisco
We focus on local market delivery and capability development in line with industry focus areas unique to the regions we serve.
Our local and well-connected network of top-tier business analysts, technical leads, developers and project managers keep travel cost to a minimum.
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About SpearMC
Each member of our Leadership Team leverages over 20 years of experience in Technology, Financial and Business Transformation.
About SpearMC
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Oracle Gold Partner since 2008: PeopleSoft Specialization Applications Reseller
Hardware Reseller
IBM Advanced Partner:
PC to GL Reconciliation
Introduction
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Project Costing Integration
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Reconciliation Steps
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Reconciliation Steps
• Determine Scope
• Identify Variances at Summary Level
• Identify Cause of Variances
• Determine How to Correct Existing Errors
• Determine How to Prevent Future Errors
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Determine Scope
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Determine Scope
• Identify the type of transactions that will be reconciled
• Expenses, Revenue, Transfers
• Identify the ChartFields that will be reconciled
• Identify Analysis Types for each type of transaction
• Consider creating a new Analysis Group (s) for reconciliation/reporting
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Determine Scope
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Budget (BUD)
Actual Cost (ACT)
GL Expense (GLE)
Indirect Cost (SFA)
Billable Amt (BIL)
Billed Amt (BLD)
Fixed Rev (FRV)
Fixed Billed (FBD)
Budget (BUD)
Actual Cost (ACT)
GL Expense (GLE)
Indirect Cost (SFA)
Billable Amt (BIL)
Billed Amt (BLD)
Fixed Rev (FRV)
Fixed Billed (FBD)
Budget (BUD)
Actual Cost (ACT)
GL Expense (GLE)
Indirect Cost (SFA)
Billable Amt (BIL)
Billed Amt (BLD)
Fixed Rev (FRV)
Fixed Billed (FBD)
Budget (BUD)
Actual Cost (ACT)
GL Expense (GLE)
Indirect Cost (SFA)
Billable Amt (BIL)
Billed Amt (BLD)
Fixed Rev (FRV)
Fixed Billed (FBD)
Projects
Activities Activities
TransactionsTransactions Transactions Transactions
Determine Scope
• Identify Project Costing field/fields to be used for determining Accounting Period
• E.g. Accounting Dt
• Note: must easier to reconcile as of a point in time (closed period if possible)
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Determine Scope
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Accounting Dt An Type Account GL Distrib Amount
1/15/2015 ACT 527500 I $500
1/15/2015 IND 527500 D $100
1/15/2015 BIL 527500 D $500
1/15/2015 BIL 527500 D $100
Accounting Dt An Type Account Amount
1/15/2015 IND 593110 $100
1/15/2015 IND 493999 <$100>
2/28/2015 BIL 132900 $500
2/28/2015 BIL 432034 <$500>
2/28/2015 BIL 132900 $100
2/28/2015 BIL 432034 <$100>
Proj Resource PC/CA GL Staging Table
PC/CA GL Staging Table (CA_ACCTG_LN_PC) can be used to:
• Obtain the Accounting Dt for As Incurred Revenue (as the revenue may not be recognized in the same period as the original cost
• Obtain the account for cost/revenue created in PC (Pricing)
Determine Scope
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Accounting Dt An Type Account GL Distrib Amount
1/15/2015 ACT 527500 I $500
1/15/2015 IND 527500 D $100
1/15/2015 BIL 527500 D $500
1/15/2015 BIL 527500 D $100
Accounting Dt An Type Account Amount
1/15/2015 IND 593110 $100
1/15/2015 IND 493999 <$100>
2/28/2015 BIL 132900 $500
2/28/2015 BIL 432034 <$500>
2/28/2015 BIL 132900 $100
2/28/2015 BIL 432034 <$100>
Proj Resource PC/CA GL Staging Table
Type 1/1 – 1/2015 2/1 – 2/28/15
Total Cost $600 $0
Total Revenue $0 $600
In this example, the PC cost and revenue would be reported as:
Determine Scope
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Accounting Date Tip: For Cost Collection from the GL, Date Type not only can be used to filter down journal entries to bring into PC but it also populates the Accounting Date field in PC (Proj Resource) with the field value of the specified data type - either Journal Date or Posted Date). Default is Posted Date.
Identify Variances at Summary
Level
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Identify Variances at Summary Level
• Build report/query to identify PC to GL variances at the ChartField string summary
• E.g. PCBU - Project – Activity – Fund – Account
• Options:
• Query with multiple unions that reports balances in the PC and GL. Utilize Pivot table to obtain variances
• Custom Report
• Custom View which allow you to build a query reporting variances only
• Composite Query (PeopleTools 8.54)
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Identify Variances at Summary Level
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Identify Variances at Summary Level
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• Keep in mind that the Analysis Group set up determines how the Amounts are brought into Proj Resource for GL
Identify Variances at Summary Level
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• As of 9.2, Direct Journal transactions can be loaded to Project Costing during the Receivables to Project Costing interface process (PC_AR_TO_PC).
Identify Variances at Summary Level
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• As of 9.2, Bills that are entered directly into PeopleSoft Billing can be loaded to Project Costing during the Billing to Project Costing interface process (PC_BI_TO_PC) (Billing Plan no longer needs to be entered.)
Identify Variances at Summary Level
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Cause of Variances
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Cause of Variance
• Build query to identify variances by Journal ID
• Three possible types of variances
1. In PC but not in GL
2. In GL but not in PC
3. In both but the amounts are different
• Start with one project and one variance. Research variance to determine cause. Once the variance is understood, create query to find error for all projects
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Cause of Variance
• Continue process until all variances are explained
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Cause of Variance
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Cause of Variance
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Cause of Variance
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Cause of Variance
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Cause of Variance
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Cause of Variance
• PC to GL template can be helpful to linking each variance to the variance reason to explain all variances
• Tip: Start with the easy variances (not the largest and most complex.)
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Cause of Variance
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Cause of Variance
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Template Demo
Correct Existing Errors
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Correct Existing Errors
• Easy/In progress errors:• Process accounting or journal generate
• Post Journals
• Run or process allocation
• GL Only Entry
• PC Only Entry (Add Transaction)
• Correct Analysis Type-Account mismatch via JE
• Correct Jrnl/Accounting Date mismatch via JE
• Update customization or create new fix• External journal updated to set PC Distrib Status to N
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Prevent Future Errors
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Prevent Future Errors
• Add additional checks/queries to Month End Close
• Create/update combo edits
• Update customizations
• Update batch
• New customizations
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Other Reconciliation/Analysis
Tips & Tricks
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Other Reconciliation/Analysis
Tips & Tricks
• Pivot Table (Excel)
• Concatenate (Excel)
• VlookUp (Excel)
• WorkCenters (9.2)
• Reconciliation Workbench (9.1)
• Project Recon Workbench
• Contracts Reconciliation Summary
• Subsystem Reconciliation/Assignment
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Other Reconciliation/Analysis
Tips & Tricks
• Pivot table• Very quick way to summarize and analyze
data in Excel.• Drag and drop wizard allows you to easily
move between less to more detail.• Page fields allow you to filter
summarized results to a specific value.• Fast way to shift data presented in rows
to columns.• Fast way to shift between amounts
versus count.
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Other Reconciliation/Analysis
Tips & Tricks
• Pivot table• Very quick way to summarize and analyze
data in Excel.• Drag and drop wizard allows you to easily
move between less to more detail.• Page fields allow you to filter
summarized results to a specific value.• Fast way to shift data presented in rows
to columns.• Fast way to shift between amounts
versus count.
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Other Reconciliation/Analysis
Tips & Tricks
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Other Reconciliation/Analysis
Tips & Tricks
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Other Reconciliation/Analysis
Tips & Tricks
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Other Reconciliation/Analysis
Tips & Tricks
• Concatenate• Allows you to merge one or more Excel cells or
text together as one value.
• For the PC to GL reconciliation template, concatenated the string Project – Activity –Account – Fund as one value so that Vlookupcould be used to link each variance to the variance reasons.
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Other Reconciliation/Analysis
Tips & Tricks
• Vlookup• Allows you to “search the first column of a
range of cells, and then return a value from any cell on the same row of the range.” in Excel.
• Used Vlookup to add or subtract each variance reason until all variances were fully explained.
• Tips
List where you are looking for a value must be sorted.
Sometimes adding a prefix to make all data consistent can be helpful (see Concatenate).
– S60134606013460472106629– S29_ABC_FY20143161585527500265
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Other Reconciliation/Analysis
Tips & Tricks
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1.) Look up this value…
2.) in this Column
3.) and when
you find the
value, display
the value in the
6th column.
Other Reconciliation/Analysis
Tips & Tricks
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WorkCenters v9.2
• WC’s are central work area designed for the end user. • The WorkCenter is intended to provide access to key
components within the Financials and Supply Chain application
• Delivers information that a user needs to take action on, such as exceptions, reports and queries.
Other Reconciliation/Analysis
Tips & Tricks
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WorkCenters v9.2 My Work: Critical Exceptions/Work you need to complete
Work Area: Workspace to do your work
Links: Other links you may need to use to complete work
Other important Reports/Queries
Other Reconciliation/Analysis
Tips & Tricks
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Reconciliation
• The Reconciliation Summary page allows you to view the results from the Reconciliation Summary process.
• This page provides the difference between billing and revenue at the detail level as well as the attributes that are related to retainages, withholdings, limits, and fees. The information provided on this page enables you to determine where to complete the remaining process, or to make an adjustment.
Other Reconciliation/Analysis
Tips & Tricks
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Reconciliation
Other Reconciliation/Analysis
Tips & Tricks
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Get in Touch.
Jessica MannPractice Director – Grants Management
866-SPEARMC X815
www.SpearMC.com
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SpearMC Online Resources
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SpearMC Online Resources
• SpearMC online Tools & Resources can be
found at www.spearmc.com
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More SpearMC Sessions at
COLLABORATE 16
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SpearMC Sessions at COLLABORATE 16
• PeopleSoft Pivot Grids A through Z!Session ID: 101480
Date: Tuesday, April 12, 2016
Time: 1:00 PM–2:00 PM
• Upgrading PeopleSoft Grants v9.0 to v9.2 Session ID: 102130
Date: Tuesday, April 12, 2016
Time: 4:45 PM–5:45 PM
• Fast Track PUM Implementation Strategy and Architecture
Session ID: 101430
Date: Wednesday, April 13, 2016
Time: 8:00 AM–9:00 AM
• Extending PeopleSoft WorkCenters to your Supplier Partners Session ID: 101540
Date: Wednesday, April 13, 2016
Time: 9:15 AM–10:15 AM
• PeopleSoft 9.2 Financials Multi-Currency Best Practices and Real-Life Examples Session ID: 101460
Date: Wednesday, April 13, 2016
Time: 4:15 PM–5:15 PM
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Thank You.
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