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Man holding laptop with eReconciliation on the screenReal-Time Financials: Toolkit

Streamline your unit’s financial reporting processes by utilizing one or more options from the Real-Time Financials toolkit.

eReconciliation

M-Pathways eReconciliation provides Statement of Activity (SOA) reconcilers an online option to verify their unit’s and/or project/grant’s financial transactions.

With eReconciliation you can:

  • View summary journal with its detailed transaction data on one page.
  • Sort the transactions to help you locate transactions for reconciliation or information.
  • Mark transactions as reconciled to provide "at a glance" status information for the transaction.
  • Annotate transactions to provide additional information about the transaction or your reconciliation efforts.
  • Link to all transaction detail (e.g., payroll or vouchers) without needing additional system access.
  • Run eRecon reports as a package or individually.

eReconciliation Reports are run after you complete your online reconciliation. The reports package contains:

eRecon Reports display the following as you applied them in eReconciliation: - The REC value (Y/N) - eRecon Notes (Example of eRecon Note: Transfer was done in error. Entry corrected 1/2010 as noted.)
  • Statement of Activity (journals)
  • Voucher Detail (procurement transactions)
  • Accounts Receivable/Billing Detail
  • Payroll/Benefit Detail
  • Student Financial Detail (financial aid)

There are two versions of these reports. The eRecon Reports use the layout of the M-Pathways Statement of Activity and Detail reports to display data, providing additional financial management data (e.g., Account Group sub-totals) not shown in eReconciliation. The Original eRecon Rpts display data using the layout of the eReconciliation pages.

Note
eReconcilation notes and flags also appear on the Statement of Acivity reports run from M-Pathways and on the Detail? reports (e.g., Voucher Detail) in M-Reports to show your reconciliation efforts.

To learn more about eReconciliation:

  • Schedule a free demonstration through RTF Consulting today!
  • Review the General Ledger Reporting Resources to learn the basics of SOA reconciliation using eReconciliation.

See the Real-Time Financials: Consulting & Training Resources page for information..



Unit Defined Commitments

M-Pathways Unit Defined Commitments (UDCs) provide a way to report encumbrances (i.e., revenues or expenses) not yet accounted for by a central system process for your department or project/grant. 

M-Reports Project/Grant Budget StatusUDCs, along with Real-Time Financials estimates, allow you to see more accurate “bottom-line” projected amounts on financial reports, including:

  • Project/Grant Budget Status in M-Pathways, BusinessObjects, and M-Reports
  • M-Pathways nVision reports

NoteWhen reconciling your SOA, use UDCs to encumber any large, outstanding expense or revenue that did not appear on your Statement of Activity for a particular month and that would not be automatically included in the other RTF Estimates.

To learn more about UDCs:




Reporting Budget Ledger

The M-Pathways Reporting Budget Ledger (RBL) allows units to upload and report on budget data for non-sponsored fund activity (e.g., unit-defined project/grants or general funded departmental programs), facilitating all-funds reporting in the central financial system.

Reporting Budget LedgerThe Reporting Budget Ledger, along with UDCs and RTF Estimates, enables “end-to-end” budget-to-actuals financial reporting through:

  • M-Reports
  • U-M Data Warehouse
  • BusinessObjects reports (pictured on right)
  • M-Pathways nVision reports

To learn more about using the Reporting Budget Ledger for all-funds budgeting:



RTF Toolkit Access

The RTF Toolkit offers three, separate system options that you choose to utilize as best suits your unit business. Work with your Financial Unit Liaison to select the appropriate system role in the Online Access Request System.

  • The FN RECONCILIATION role provides M-Pathways eReconciliation access.
  • The GL UNIT DEFINED COMMIT USER role provides M-Pathways UDC access.
  • The GL BUDGET USER role provides Reporting Budget Ledger access.

Other Real-Time Financials Pages
RTF Introduction | RTF Prior Enhancements | Consulting & Resources