FundWare v7.6 includes document management capability (PaperSave)

Payroll Accruals - vacation and benefit accruals can be setup in FundWare

Timekeeping - 3rd party timekeeping systems such as Krono's can be interfaced to Payroll

Data from multiple reports can be consolidated in Excel using Monarch

Fraud protection is available with positive pay

941's can be generated directly from FundWare

Fundware can have security to the account/department/attribute level with the Advanced Security Module

Payroll rate changes can be changed or overwritten on the fly

Cleared checks can be uploaded into FundWare from your bank

Journal entries posted incorrectly posted to the wrong period can be reversed and posted to the correct period with a few clicks

 

Creating a Journal Entry

 

 

1. Click on General Ledger-Project Grant folder. 
2. Click on Journal Entries.
3. Click on New.
4. Select Journal type from the drop box (ie. GJNLA – General Journal).
5. Change the Posting Action if needed.
   1. Enter an account number and hit Enter.
   2. Enter Ref 1, 2 and 3 as needed.
   3. Enter a Description for this journal.
   4. Enter the Amount.  (Enter credits with a negative number or right-click on the Amount column and choose Debit/Credit.)
   5. Repeat a-d as needed.
6. Verify the Net amount is $0.00 or that Debits = Credits.
7. Click Post.
8. Click Yes to confirm posting.
9. Click OK.
10. Print the Trace Report.

You have many other options with journal entries. 

 

1. To create a reversing journal, follow the steps above and click the Auto Reverse Entries box and select the date they will be reversed.  The system will automatically reverse this journal on the specified date.
3. For a long journal, to review a paper copy before posting, click the Print Grid button.  This will generate another window of the report.  Click the printer icon.
5. To Save Entries until a later time, click the Save Entries button.  Enter a Name that describes the journal. 
7. To continue working with this journal, click Journal Entries/Saved and double-click the journal name.
9. To create recurring journals, follow the journal entry steps above, then click Memorize.  Enter a descriptive name.  Click OK.  To process, click Journal Entries/Memorized and double-click the journal name.  Make edits as needed.

Set Up New User

Log onto Div 00.

System Administration > Security > Users

• Click on New button
• Fill in the fields
  • User ID – this will default to the next available # but can be over ridden
  • Login – the user name used when logging onto FundWare (you can also enter the User ID # when logging on as well)
  • Full Name – full name of employee
  • Password – set up a temporary password and then employee can change the password when logged onto the division (Edit > Password)
  • Report Path – browse to folder where you want reports saved to when they are run
• Workgroups
  • Select the workgroup that you want the employee assigned to
• Basic Security
  • If you want to change the security for an individual person and allow/not allow for a particular function, then you can customize that security here.

Click on Copy button – to copy the setup of another employee

• • You still have to fill in the required fields per above

Set Default Directory on employee workstation

• Log onto a division sitting at employee workstation
• Open Print Manager (File > Print Manager)
• File > Set Default Directory
  • Select the default folder that you want to open when you open files in the print manager.

Set up Attribute Value

 

General Information

• Attributes can be used in reporting and are assigned to accounts
• You can define up to 15 Attributes
  Attribute #1 is System Reserved for the account type

 

 

• General Ledger > Maintenance > Attributes
• Select the appropriate ID Type
• Select the Attribute from the drop down list
• Enter the Attribute Position Name (what you want to call the Attribute)
• Check the box if it is Required on the account
• Scroll to the bottom and click in the first box next to the  “*”, when you start typing, a new line will be inserted.
  • Enter the attribute Value and Description and select Active status
• Click Apply if you have more to enter or OK when finished

 

When adding an account, the attribute values will be available in the drop down list.

 

Associating an Attribute to a Dimension

 

• General Ledger > Maintenance > Dimensions
• Select the appropriate ID Type
• Select the Dimension value, “1-Fund”
• Click on the Edit Attribute Association button and the box will open
• Select the Attribute (1-15) that will be associated with the dimension value
  • Remember that you defined if it is required when you defined dimension
  • Note that any Attributes that are already association with a dimension value will be checked but grayed out with the dimension value in parenthesis on the right of the line.
• Click OK when finished
• Click Apply if you have more to enter or OK when finished

 

If you selected the attribute when you set up the dimension, then when you set up the account, the attributes will automatically be populated.

 

If an attribute is not required, it can either be added to the dimension or to the account.

Account Utilities

 

General Ledger > Accounts > Account Utilities

• You can also link to this function from the Chart of Accounts screen.

 

1 – Duplicate Accounts

• Allows you to create a new set of accounts using an existing set of accounts as the source (or “model”).  You can select the source accounts using an account mask, status, or attributes (included or excluded).
• All new dimension values must be set up before using the Duplicate function.

 The example below will duplicate all the accounts in Fund 01, Dept 01-00 that are active to a new Dept 05-00.  The account mask must be in the same position for the Source and Create account mask.

    

• General Ledger > Accounts > Account Utilities
• Source
  • Account Mask – use X’s for wild card.  This is the highest level of filter to create your source group of accounts.  The Source is what you are duplicating from.  Enter the ID and account numbers you want to duplicate and then you can tab to fill in the X’s.
  • Status – set to the status you want to copy from (most likely Active or Descriptive but you can leave it blank)
  • Include – if you only want to copy accounts with a certain attribute, you can add them here.  (i.e. 1 – you might select AS for just Asset Accounts)
  • Exclude – if you don’t want to copy accounts with a certain attribute, you can add them here.  (i.e. 1 – you might enter FB if you want to add all the accounts except Fund Balance accounts)
• Create
  • Account Mask – the Account Mask that you enter in this text box defines the new accounts (created as a result of the account duplication).  Any wild cards (X’s) must occupy the same position as the Source Account.  Enter the ID and account numbers you want to duplicate and then you can tab to fill in the X’s.
  • Duplicate Data Items on new accounts – select this check box if you want the new accounts to have the same data items and values as the source account group.  If you are not using Data Items on accounts, it is not applicable.
  • Set Status – if you select a Status, that status will be applied to all the new accounts regardless of the status of each source account.  If you do not select a status, each account will retain the status of its individual source account.
  • Set Attributes – any entry here will override the attribute setting of the source accounts. 
    • Tip:  to set an attribute as “blank”, select “**” from the drop down list in the appropriate text box.
  • Required ID Type(s) – if you are using more than one ID type, enter one or more ID types that must be entered when a transaction is posted to the new account.  Leave blank if it doesn’t apply.
  • One of Required ID Type(s) – this field lets you list one or more ID types to require depending on the data to be entered when using the account in a transaction task.  Leave blank if it doesn’t apply.
  • Print Options – select the appropriate one

 

• Click OK or Apply (will leave the screen open so you can make changes for the next duplication).

 

• The report CSIDUPS.L## will be generated.

A common question that I see asked by many clients is where do I go to find information about a new accounting system and who will implement the new system? 

An interesting but disturbing trend that I see is smaller audit firms recommending and implementing accounting software for their audit clients.  This brings up an interesting question of independance by the audit firm.  The potential conflict lies in the fact that the audit firm is in essence auditing their own work.  The revenue generated from selling accounting software and the related audit fee's frequently exceed the fee's generated for the Independant financial audit.

For those of you that do not have a short memory, many of you can remember the Enron debacle.  This is an example of an audit firm generating large consulting engagements and also performing the financial audit.  

Here is what the AICPA says about conflicts of interest.

GAO Yellow Book: Auditor Independence

In 2003, the GAO enacted significant changes to the auditor independence requirements under Government Auditing Standards . Commonly referred to as the Yellow Book, this guide covers federal entities and those organizations receiving federal funds. Various laws require compliance with the comptroller general's auditing standards in connection with audits of federal entities and funds. Furthermore, many states, local governments, and other entities, both domestically and internationally, have voluntarily adopted these standards.

Although the standard deals with a range of auditor independence issues, the most significant change relates to the rules associated with nonaudit, or consulting, services. Auditors have the capability of performing a range of services for their clients. However, in some circumstances, it is not appropriate for them to perform both audit and certain nonaudit services for the same client. In these circumstances, the auditor, their client, or both will have to make a choice about which of these services they will provide.

The focus of the changes to the auditor independence standard is to better serve the public interest and to maintain a high degree of integrity, objectivity, and independence for audits of government entities. The standard includes a principle-based approach to addressing this issue, supplemented with certain safeguards. The new independence standard for nonaudit services is based on two overarching principles:

1. Auditors should not perform management functions or make management decisions.
   
2. Auditors should not audit their own work or provide nonaudit services in situations where the amounts or services involved are significant or material to the subject matter of the audit.

For nonaudit services that do not violate these above principles, certain supplemental safeguards have to be met, for example: (1) personnel who perform nonaudit services are precluded from performing any related audit work, (2) the auditor's work cannot be reduced beyond the level that would be appropriate if the nonaudit work was performed by another unrelated party; and (3) certain documentation and quality assurance requirements must be met.

The standard includes an express prohibition regarding auditors providing certain bookkeeping and recordkeeping services, and limits payroll processing and certain other services, all of which are presently permitted under AICPA auditing standards. At the same time, the standard recognizes that auditors can provide routine advice and answer technical questions without violating these two principles or having to comply with the supplemental safeguards. The standard also provides examples of how certain services are treated under the rules.

Here is a link to there site.  http://www.aicpa.org/audcommctr/toolkitsnpo/Independence_and_Related_Topics.htm

Here is what the Journal of Accountancy says about GAO standards.

Essential Compliance Precepts
Two overarching principles are critical to understanding the new nonaudit services rules:

Audit organizations (referred to in this article as “firms”) should not provide nonaudit services that involve performing management functions or making management decisions.
Firms should neither audit their own work nor provide nonaudit services in situations where the nonaudit services are significant or material to the subject matter of audits.

Here is a link to there site. 
http://www.journalofaccountancy.com/Issues/2002/Nov/TheNewGaoIndependenceStandardWhatAuditorsNeedToKnow.htm

 

We are frequently asked the question on what should we do to make sure that we are properly backing up our FundWare or Financial Edge data?  It is important to make sure that you backup solution takes into account the ability to properly backup your SQL tables.  Many third party backup software solutions sell an add-on product to achieve this task.  For example,  Symantec Backup Exec sells an additional software module called Symantec Backup Exec 2010 Agent for Microsoft SQL License.  It allows you to have point in time restores.  It allows you to make backups of SQL while the database is running.  Also, restoring data is made quite a bit easier with the agent. 

It is also important to make sure that you are backing up all of the required components for FundWare.  If you do not have the additional FW proprietary databases backed up, you will not be able to restore your data. 

Last of all, many people setup their backup system but not review their logs for errors, skipped files, etc.  It can be a costly assumption to make that if the tape is popped out of the tape drive that it must contain all of your required data.  I think that the most important step that is rarely ever completed is to test your restore procedures.  If you had a catastrophic event, do you have all of the pieces required to get back up and running?  Some things to consider are:

Do you know where you software CD's are located?
Do you know where the license key's are located?
Do you have an inventory of all other applications that are residing on the server?
Do you have all of the data required to restore?
Do you know where you would get replacement hardware and how long it would take to procure?

At the end of the day, how do you know it will work until you test out your process?

For those clients that are still using a version FundWare that is utilizing Microsoft Server or SQL Server 2000, it is time to start thinking about upgrading your underlying technology.

For many of our clients that are utilizing these older platforms, their servers are 5+ years old.  Servers in this age category will see an increase in hardware related failures grow exponentially every month.  Due to the fact that we are talking about servers that "house" an organizations financial and payroll information, it is scary to think of the possibilities of extended down time or worse yet, lost data.  

Not only do you have to think about the hardware aspect of running your accounting system but the operating system and database is coming to their end of life.  Please see the above link to the Microsoft Blog about end of support dates.   

Most organizations typically tie all 3 components together in a refresh.  They typically purchase a new server with the latest versions of Microsoft Server and Database software.  The last consideration is upgrading your accounting application to make sure that your FundWare version is compatible with the operating system and database.

An alternate option would be to have someone host your accounting system for you.  Some of the benefits of having your application hosted is that you do not have to worry about all of the upgrade headaches.  Hosting companies will typically have layers of redundancy in their network.  For example, they should have redundant power, internet, hardware, cooling systems, and real time monitoring of the hardware and software.  A vast majority of our clients do not have this type of expertise or infrastructure in place to provide this level of redundancy.  In addition, you get the benefit of spreading out your expenditure over months and years. 

I recently had a chance to view a presentation of a Budgeting system that integrates with both Blackbaud Financial Edge and FundWare.  This budgeting module has some significant features that many of our clients have been looking for over the years.  The product is called City Vision and it was written by PowerPlan Corporation.  This product allows the chart of accounts and actual accounting data to be uploaded into the software.  From there, it can be manipulated and run through several different scenario's to ascertain your final budget.  Once the budget is finalized a file is then uploaded into the accounting application.  Once the final budget has been loaded it is available for your normal actual vs. budget reporting.  Examples of some its advanced features include:

- FTE budgeting.  Employee's can be budgeted based on hire or termination dates.  
    -Allocation of benefits to budget line items
    -Budgeting of seasonal employee's
    -Payroll computations such as FICA, etc.
    -Map payroll periods to budget periods
    -Allocate employees to multiple departments or projects
    -Allow mass changes by job classification

Capital Budgets
    -Define supporting details for the requests, including cost details, and sustaining notes
    -Accomodate asset depreciation
    
Also, all of the standard functionality that you would expect in a budgeting system exist such as:

    -Typical operating budget what if scenario's
    -Viewing line item budget details and notes
    -Publishing budget guidelines and assumptions
    -Review multiple years information

Overall, it was a very impressive presentation.  The level of detail that can be utilized is better than anything that we have seen to date.  

If you would like some additional information about this product, please let us know and fill out the sales contact form located under "Contact" on the main navigation bar.   

Many of our clients have contacted us indicating that competitors in the marketplace are telling them that FundWare is no longer supported and that they need to change accounting systems immediately.  Unfortunately, some software companies attempt to sell on fear, doubt and uncertainty to sell their products. 

The facts are:

- Blackbaud has not declared an end of life for the FundWare product.

- Blackbaud is continuing to provide enhancements to their software and release new functionality.  Please see the FundWare v7.6 post.

- If you are desiring additional functionality that FundWare cannot provide, you have the option of changing to the Financial Edge product at no charge for your existing licensed modules.  Also note, FundWare has functionality that Financial Edge does not currently contain.  It is important to take a detailed look at your specific requirements. 

- Blackbaud is currently in development of their next generation products.  Their new platforms will be 100% browser based.