The Financial System does not have a procurement card module. How will we process these transactions?
We are currently documenting requirements and weighing options to ensure PCard functionality is either met or enhanced in the new system.
What is the difference between cash vs. accrual accounting?
The main difference between accrual and cash basis accounting is the timing of when revenue and expenses are recognized. The cash method is most used by small businesses and for personal finances. The cash method accounts for revenue only when the money is received and for expenses only when the money is paid out. On the other hand, the accrual method accounts for revenue when it is earned and expenses goods and services when they are incurred. The revenue is recorded even if cash has not been recieved or if expenses have been incurred but no cash has been paid. Accrual accounting is the most common method used by businesses. Read more: How does accrual accounting differ from cash basis accounting?
What will be changing with our budget system?
Oracle Planning and Budgeting Cloud Services solution will replace the BCP Access database, including the reconciliation database, as well as the PeopleSoft bolt-on NIBS.
The new financials system does not have functionality to create travel authorizations. How will we comply with the state TA requirement?
We are currently documenting requirements and weighing options to ensure Travel Authourization functionality is either met or enhanced in the new system.
About the FST Project
Will DEMIS no longer be available?
The DEMIS portal will still be used for other reporting (i.e. HR, Academic, etc.). All information on the current reports on the DEMIS ‘Financials’ tab will be accessed in the new Cloud systems.
Will BudCast no longer be used?
BudCast will no longer be used beginning fiscal year 2018.
When will I begin using PBCS?
Budget Preparation is phase 1 for the PBCS implementation. We anticipate budgeteers using PBCS to prepare their FY 2018 budgets during Spring 2017. Budget management and analysis is phase 2 and won't begin until late Fall 2016. We will provide additional information as we start moving into phase 2.
When will PBCS training be offered?
As budgeteers prepare their FY 2018 budgets in PBCS during Spring 2017, we are offering hands on training sessions for all budgeteers starting January 31, 2017. Please see the Training section.
Does this transformation also include Campus Solutions or HRPay?
No, it only includes the financial and budgeting systems.
Will we be able to generate budget transfers at the position level in PBCS Management?
No, budgets will be summarized to the chartfield level (i.e. fund, cost center, etc.) in PBCS Management. Budget transfers will be completed at the chartfield level in FITC, not at the position level. The results of the FITC budget transfers will be reflected in PBCS Management.
Business Intelligence and Reporting
When will PBCS and Oracle Analytics Cloud* (previously BICS) systems be implemented?
PBCS will be implemented in two phases. Phase 1; Budget Initiation and Preparation is projected to be completed December 2016. End user training to begin in early 2017. Phase 2; Budget Management is projected to be completed in 2017. Oracle Analytics Cloud reporting will be available in 2018.
Will the system have salary forecasting tools available?
Yes, the PBCS budget management tool implemented in Phase II will have salary forecasting capabilities.
*As of 6/1/2017, Oracle Analytics Cloud has replaced BICS. Learn more...
Are there any browser issues to be made award of when using Oracle Analytics Cloud (OAC)?
You are able to use all versions of all browsers most commonly accessed by University employees, including Mozilla Firefox, Mozilla Quantum, Internet Edge, Internet Explorer, Google Chrome, and Apple Safari. The only piece of functionality within OAC that may not work as plnned, is when trying to generate a “Bookmark Link” for a “Dashboard” This functionality will only work in Mozilla Firefox version 47 and newer; all other browsers, regardless of their version, will be able to generate a “Bookmark Link” without issue.