Below you will find
learning resources that are helpful when running a monthly financial report.
· m-Fin Revenue and Expenditure Summary - Used to view summarized balances
for revenues and expenditure accounts for a SpeedType.
· m-Fin Financial Detail - Shows an itemized
list of all transactions for revenue, expense, and balance sheet accounts.
· m-Fin Financial Detail II - Shows all
transactions for revenue/expense and balance sheet accounts with additional
features and options not available in m-Fin Financial Detail.
· m-Fin Outstanding Encumbrances - Shows an
itemized list for all financial expenses committed but not yet occurred for a
given SpeedType or purchase order.
· m-Fin Operating Summary -Shows a
one-page-per-SpeedType report that shows the available balance calculation, as
well as revenue and expenditures by various account levels. To view assets and
liabilities, if it is relevant to fund type.
· m-Fin SpeedType Summary - Shows a
one-line-per-SpeedType report showing budget, actuals, and available balance
for a given period, as of the close of business for the previous day.
· m-Fin Resource Deficit & Abnormal Balance -
Shows SpeedTypes with negative cash balances or positive net assets. Shows
account codes with abnormal balances (i.e., debit accounts with credit balances
or credit accounts with debit balances).
· m-Fin SpeedType One-Liner - Shows the
financial basics for multiple SpeedTypes, in a one-line-per-SpeedType
encumbrance is the recording of a claim or commitment against University funds.
On your financial reports, an encumbrance reminds you of this outstanding
commitment by reducing the available balance of your SpeedType until the actual
expense is payable and recorded.
Encumbrance entries will show under the Encumb column, with a
BAE (Budget, Actual, Encumbrance) Code beginning with EN. Your actual expense
entries will show under the Actual column, with a BAE Code of ACTUALS.
common example is when a Purchase Order (PO) is created:
When your PO is created, the funds are encumbered. This
decreases your SpeedType’s available balance, but does not decrease its actual
When an invoice is received, depending on the invoice amount,
part of the PO’s encumbrance is converted into an actual expense. Your
SpeedType’s encumbered and actual balances are both decreased by the amount of
the invoice. Your available balance is not decreased because your available balance
already understood there was a claim against the funds. Balances will continue
to decrease until the purchase is completely paid.
The encumbrance will
continue to show on your report unless the entire PO amount is invoiced.
If payment is
complete and there will be no more invoices, and there is still an encumbrance
showing on reports, the PO needs to be closed.
Want to see a financial report that focuses only on
encumbrances? You can run the m-Fin Outstanding Encumbrances report to see a
list of encumbered POs and their current encumbrance amounts for a specific