Reconciling Loans: Financial Aid through Finance

Transcription

1 SUNGARD SUMMIT 2007 sungardsummit.com 1 Reconciling Loans: Financial Aid through Finance Presented by: Kate Wilson Drexel University March 20, 2007 A Community of Learning

2 Introduction The purpose is to follow the trail of loan funds from entry in Financial Aid to accounting in Finance and the General Ledger. Benefits: Gain a cross-functional understanding of interfaces between Financial Aid, Accounts Receivable and Finance Increase in understanding reconciliation procedures for the different departments 2

3 Agenda Slide Tracking a loan disbursement s journey through the various Banner forms/tables. Topics: Financial Aid: loading, posting, disbursing loan funds Accounts Receivable: Disbursing and then feeding to Finance Finance: where does the loan end up? Tips provided along the way 3

4 Presentation Summary Feeling out of control? New and intermediate users will benefit from tracing loan funds disbursed through Financial Aid to Student Accounts Receivable and the feed to Finance. 4

5 Rules Forms Critical to the Interfaces RFRBASE TSADETC 5

6 Financial Aid Phase Disbursements Loaded (RPREFTL) Disbursements Posted (RPAEPMT, RPREFTP) Disbursements Fed (RPEDISB) Monitor Aging (RPRLNAG) Monitor disbursements results (Reporting) 6

7 Loading Disbursements Access job RPREFTL. File name must be eft001.dat and be located in the dataload/finaid directory. This job will load the roster to form RPAEPMT in anticipation of Receiving the funds. Only check off to receive the funds once it is verified that amount has been deposited into EFT bank account. 7

8 Posting Disbursements Access job RPREFTP. Parameter of Reference ID: enter today s roster ID for just listing of those; leave blank to view listing of all outstanding non-posted disbursements. Can view outstanding non-posted disbursements via RPAELDB. This job will only post those rosters that are checked off on RPAEPMT to receive (that have not already been received.) 8

9 TIPS on Posting Take care not to load or post a roster more than once! If you load but don t post a duplicate roster, just remove the extra record on RPAEPMT. If you load AND post a duplicate roster, review flat file student by student and record/remove the extra disbursement on RPALDSB. DO NOT run disbursements (RPEDISB) until extra disbursements are removed they WILL feed to the Student Account. 9

10 More TIPS on Posting Review the listing from RPREFTP job to resolve errors Common Errors include: Incorrect loan type disbursement sub versus unsub No RPRLAPP record exists for unique loan ID (ULID): either the loan was processed outside of banner or the servicer did not use the banner ULID Loan Disbursement Number error/sequence: usually spring disbursement moved up to fall. 10

11 Feeding Loans through to Student Accounts Receivable Access and run job RPEDISB. Can see the initial results of disbursement on Feed Indicator on RPALDSB: F = Fed to Student AR Y = Not fed, but the disbursement is here and held up for some reason N = Not fed, the disbursement has not yet been posted. 11

12 TIPS on Feeding disbursements If funds are posted, but not fed, check ROIDISB (table is RPRRSLT) for exact results. If money has been posted, but not fed and ROIDISB reads: No records found this situation usually means there is a disbursement date error. Check the date and term in RPALDSB. In AR, a Fed loan will appear with a source code of F indicating it was fed from Financial Aid module. Beware of disbursements manually posted to TSAAREV (source code = T) if the money comes in through finaid, then it could disburse again. NEVER manually post electronic loan funds to TSAAREV! 12

13 Student Accounts Receivable Phase TGRCLOS all open cashiering sessions; then run again to finalize Apply payments (TGRAPPL) resolve this listing each time. TGRFEED set up feed to Finance assigns F-doc number to be pulled off TSAAREV(TBRACCD) TGRRCON run this job first after going live. 13

14 Tips for Reconciling Outages Most problems with Reconciling are covered by the following: Incorrect Detail code set up Changes to detail codes Suspended documents resolve then post via FGIJVCD Timing issues with closing cashiering sessions and feeding before opening new sessions. 14

15 Finance Phase FURFEED Finance feed sweep FGRTRNI Interface process FGRTRNR Transaction error report trying to post to a closed/or not yet opened period FGRACTG Once posting is run, you can now view in FGIDOCR; FGITBAL (Options menu FGIGLAC) 15

16 Questions & Answers? 16

17 Thank You! Kate Wilson Please complete the online class evaluation form SunGard, the SunGard logo, Banner, Campus Pipeline, Luminis, PowerCAMPUS, Matrix, and Plus are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. Third-party names and marks referenced herein are trademarks or registered trademarks of their respective owners SunGard. All rights reserved. 17