Public Sector Financials includes the following features:
Encumbrance Account Analysis
Funds Available Inquiry
Funds Available Detail Report
Governmental Accounting Standards Board (GASB) 34/35 Asset Accounting
Note: The features described below are available from either the General Ledger Super User or the PSA Administrator responsibilities.
The Encumbrance Account Analysis reports are used to identify encumbrance-related account imbalances between General Ledger and Subledgers.
The following Encumbrance Account Analysis reports are provided:
Encumbrance Account Details Report
Encumbrance Document Details Report
The Encumbrance Account Details Report performs the following tasks:
Determines General Ledger encumbrance account balances, based on parameters entered
Identifies journal entry line amounts that contributed to the General Ledger encumbrance account balances
Identifies the source document that created the journal entry line amounts
Reconciles the General Ledger encumbrance journal amounts against the subledger encumbered amount
The Encumbrance Document Details Report performs the following tasks:
Lists the General Ledger journals associated with the subledger source documents
Lists accounting entries generated from specified subledger source documents
Funds Available Inquiry in General Ledger is the principal budget management tool for organizations using budgetary control. Users can view budget status and available funds for a particular period range in a specified account code combination.
Funds Available Inquiry adds several features enabling users to reconcile General Ledger balances and accounting entries with source subledger documents. The following features are included:
The option to filter results by summary accounts or detail accounts.
The ability to see all detail accounts within a selected summary account.
The ability to separate cumulative funds balances into accounting period balances.
Drilldown from accounting period balances to accounting lines, including both journal lines and pending (approved) transactions lines.
Drilldown from accounting lines to source documents in subledgers.
The Funds Available Detail Report performs the following tasks:
provides a single report with transaction detail for all amount types, enabling users to see budget execution down to the detail transaction level
supplements existing funds available reporting in General Ledger, which shows the budget, encumbrance and actual balances used to determine available funds, but not the underlying transactions that make up those balances
reflects posted transactions only
Governmental Accounting Standards Board (GASB) 34/35 requires users to meet reporting requirements for state and local governments and for public colleges and universities. Public sector organizations must prepare financial statements using the accrual basis of accounting, in addition to providing the modified accrual-based fund statements already required.
GASB 34/35 asset accounting enables users to report capital acquisitions as expenditures in fund statements and as depreciating assets in the government- or university-wide statements, while continuing to charge the acquisitions to expense accounts.