User Acceptance Testing Financials Agenda Financial Processes Overview Payable Processes a Bill Creation b Bill Payment 2 Asset Processes a Asset Addition b Asset Retirement 3 Receivable Processes ID: 760239
Download Presentation The PPT/PDF document "Implementation of Management Information..." is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Slide1
Implementation of Management Information System (MIS) including Financial Management System (FMS) in ICARUser Acceptance Testing – Financials
Slide2Agenda
Financial Processes Overview:
Payable Processes
a) Bill Creation
b) Bill Payment
2) Asset Processes
a) Asset Addition
b) Asset Retirement
3) Receivable Processes
a) Bill Creation & Receipt against the Bills
b) Receipts without bills
General Ledger
a) Journal Entry Creation
b) Journal Entry Posting
c) Journal Entry Search
Slide3Employee Payroll Processing Pension ProcessingGPF and GratuityEmployee Loans and Advances
EFC Budgeting Process
Annual Budgeting Process – Non Plan (BE/RE)Annual Budgeting Process – Plan (Scheme wise)Drawl and Disbursement of Funds
Requisitioning Process with Budgetary Control PO Creation Process with Budgetary Control and EFC LinkageReceiving of Material and Inspection process of ItemsTracking of Inventory Items maintained in Stores
DDO - Bill Preparation, Expenditure SanctionTDS Deductions, Bill Validation and Payment ProcessingCash Books PreparationHandling of AdvancesEmployee Expense Reimbursements with Budgetary ControlsRevenue Bookings and CollectionsFixed Assets MaintenanceTrial Balance, Balance Sheet and Consolidated Financial Reporting
Procurement Process
Finance - DDO Cycle and Audit and Accounts
2
3
4
ICAR Finance Solution Overview
Grants and Budgeting
1
Finance and Payroll Integration
Slide41. Logging into Oracle Application
Slide5Payables Processes
Payables processes are classified into two:
1) Bill Creation
2) Approval & Payment of the Bill
Slide6Bill Creation
Bill Creation
:
Bill Creation will be done by DDO (Drawing and Disbursement Officer).
1) Bill Creation without PO
a) Manual Bill Creation without PO
b) Manual Bill Creation with TDS
2) Bill Creation for Advances
a) Vendor Advance
c) Employee Advance
d) Petty Cash Advance
3) LC Creation
4) Bill Creation with PO
a) Bill Creation – PO Matched
b) Bill Creation with LC – PO Matched
c) Bill Creation for Asset – PO Matched
d) Bill Creation for TDS – PO Matched
Slide7Bill Creation process
Slide8Bill Approval & Payment Process
Slide9Bill Creation - Manual Bill Creation
Bill Creation
Slide10Bill Creation - Manual Bill Creation…..cont.
Enter Invoice Line Details
Slide11Bill Creation - Manual Bill Creation…..cont
Enter Distribution Details (Account Information)
Slide12Bill Creation - Manual Bill Creation…..cont
If TDS is applicable, select the applicable TDS section
Slide13Bill Creation - Manual Bill Creation…..cont
Automatic Funds checking
Slide14Bill Creation - Manual Bill Creation…..cont
In case of TDS Invoices, 1 Credit Memo on Supplier and 1 TDS Invoice onCommissioner of Income Tax is generated automatically.
Slide15Bill Creation - Employee Advance
Slide16Bill Creation - Employee Advance …..cont
Slide17Bill Creation - Employee Advance …..cont
Slide18Bill Creation - Employee Advance
…..cont
Validate the Bill
Slide19Bill Creation - Employee Advance
…..cont
Initiate Approval Process
Slide20Reports of Advances Given:Objection Book Report For EmployeesObjection Book Report For Petty CashObjection Book Report For Contingencies
Objection Book
Slide21Settlement of Employee Advance
After paying advances (shown in Payment Process), we need to adjust that advance.
Slide22Settlement of Employee Advance
Slide23Settlement of Employee Advance
Bill Numbers generated automatically once you save the transaction.
…..cont
Slide24Settlement of Employee Advance
Slide25Settlement of Employee Advance
Slide26Settlement of Employee Advance
Slide27Settlement of Employee Advance
Slide28Opening LC Account
Basic steps (for LC Invoice) before entering Bill for LC
Slide29Opening LC Account …..cont
Slide30Opening LC Account …..cont
Slide31Opening LC Account …..cont
Slide32Bill Creation (against LC) – PO Matched
Slide33Bill Creation (against LC) – PO Matched …..cont
Slide34Bill Creation (against LC) – PO Matched …..cont
Slide35Bill Creation (against LC) – PO Matched …..cont
Slide36Bill Passing – Audit & Accounts
Bill Processing:
1) Capturing the ‘File Received Date’ by Dealing Assistant
2) Bill passing by the SF & AO
Slide37Bill Passing – Audit & Accounts …..cont
Slide38Bill Passing – Audit & Accounts …..cont
Slide39Bill Payment
Bill Payment:
1) Bill Payment to Supplier
2) Advance Payments to employee/supplier/LC
Slide40Bill Payment …..cont
Slide41Bill Payment …..cont
Slide42Bill Payment – Electronic Payments
Slide43Bill Payment – Electronic Payments
Slide44Bill Payment – For Bills with TDS
After Receiving the Bill net payment to be paid to the supplier after deducting TDS and TDS amount need to be paid to Commisioner of Income tax.
Slide45TDS Challan Entry
Slide46TDS Challan Entry
Slide47Process TDS Payments
Slide48Generate TDS Certificate
Slide49Generate Form 16
Slide50TDS Quarterly Returns
Slide51LC Register
Slide52Electronic Fund Payment Report
Slide53Invoice Register
Slide54Cash Book
ICAR Cash Book:
Slide55Invoice Turnaround Report
ICAR Invoice Turnaround Report
Slide56Payment Voucher Report
ICAR Payment Voucher Report
Slide57Payment Advice Report
ICAR Payment Advice Report
Slide58Objection Book
Reports for Advances:ICAR Objection Book Report For Employees – Employees Advance and settlementICAR Objection Book Report For Petty Cash – Petty Cash AdvanceICAR Objection Book Report For Contingencies – Contingencies Advance
Slide59Fixed Asset Processes
Slide60Asset Processes
In Fixed Assets the main activities are:
1) Asset Addition
a) Asset Addition against Invoice
b) Manual Asset Addition in case of Gift, Donation, Transfer etc
2) Asset Retirement
a) Complete Asset Retirement in case of total damage etc
b) Partial Asset Retirement in case of partial damage
c) Retirement of Asset with selling price in case of Buyback, Transfer
3) Asset Depreciation
Slide61Asset process
Slide62Asset Capitalization
Run “Mass Additions Create” report from Payables to transfer Asset that areinvoiced.
Slide63Asset Capitalization
Run “Mass Additions Create Report” to get the details of Asset andCorresponding Invoices.
Slide64Asset Capitalization
Creating Asset for the Invoice test test_LC_IN
Slide65Asset Capitalization
Enter Depreciation Account, Asset Category, Asset Location etc and changequeue status to ‘POST’.
Slide66Asset Capitalization
Enter Asset Key (Source of Fund)
Slide67Asset Capitalization
Run “Post Mass Additions” to register the asset
Slide68Asset Capitalization
Slide69Asset Addition (Gift/Donation)
In case of any other “Mode of Acquisition” apart from ‘Transfer’, Institute would be‘000’(default). For transfer, institute would be destination institute.
Slide70Asset Addition (Gift/Donation)
Slide71Asset Addition (Gift/Donation)
Slide72Asset Retirement
Find Asset to Retire
Slide73Asset Retirement
Slide74Asset Retirement
Slide75Asset Retirement
Slide76Asset Retirement
Slide77Transfer of Asset from One Institute to Other Institute
Slide78Transfer of Asset from One Institute to Other Institute
For Transfer, note the NBV value as selling price should be equal to Net Book Value. ForBUYBACK, it might be NBV or Negotiated price.
Slide79Asset Transfer Report
ICAR Asset Transfer Out Register
Slide80Transfer of Asset from One Institute to Other Institute
Slide81Asset Transfer Report
ICAR Asset Transfer IN Register
Slide82Depreciation
Run Depreciation and Close Period
Slide83Fixed Asset Register
ICAR Fixed Asset Register Report
Slide84Fixed Asset Schedule
ICAR Fixed Asset Schedule Report
Slide85Asset Listing Report
ICAR Asset Listing Report
Slide86Revenue and Receipts Processes
Receivables Processes
1) Bill Creation
2) Receipt against Bill
3) Recovery of Employee Advance
4) Project Receipts
5) Recovery of Loans
Slide87Receivable process
Slide88Bill for Sale to Customer
Slide89Bill for Sale to Customer
Slide90Bill for Sale to Customer
Slide91Receipt against Bill
Slide92Receipt against Bill
Slide93Receipt against Bill
Slide94Settlement of Employee Advance
Slide95Settlement of Employee Advance
Slide96Project Receipts
Slide97Project Receipts
Slide98Receipts – Employee Advance Recovery
Slide99Receipts – Employee Advance Recovery
Slide100Treasury Receipt-5 (TR5)
Slide101General Ledger
Slide102General Ledger
In General Ledger user will have following activity
1) Entering Journal Manually
2) Searching Journal from particular source
3) Posting Journal Manually
Slide103General Ledger – Enter Journal
Slide104General Ledger – Enter Journal
Slide105General Ledger – Search Journal
Searching Journal based on Source
Slide106General Ledger – Search Journal
Slide107General Ledger – Post Journal
Slide108General Ledger – Submit Schedules
Slide109General Ledger – Submit Schedules
Slide110Appendix