Cost Center Reporting

      

One of the most effective internal controls and important responsibility of every budget unit head (BUH) is the timely, adequate and independent review of all monthly cost center reports within your portfolio. Cost center reports reflect the transactions that have been posted to your cost center and include revenues, compensation and non-compensation activities. In an organization as large and complex as Temple, there are various situations that can cause inaccurate or erroneous charges to appear on your cost center reports. Examples range from innocent data entry error to possible inappropriate purchases.   

A timely review is one that takes place within two-to-three weeks after the end of the previous month.  An adequate review includes comparing the source documents, such as time sheets and invoices, for a transaction to the charge on the cost center report.  An independent review is one that is performed by someone who did not initiate the transaction.  In the case of BUHs who have other individuals with cost center responsibility reporting to them, you may want to put a mechanism in place to ensure those individuals are performing a timely review of their cost center reports.

Cost center reports can be reviewed using one of two reporting tools; Cognos or Self Service Banner. (Make both of these links. Cognos will have the below on the page, Self Service Banner it's own page as well)

Report Dictionary

 

Accessing Cognos Reports

Once you log into the portal, click on the Banner tab and scroll down to find the Cognos Reporting channel in the center column. Cost Center Summary and Transaction Detail Report links are available. The reports are presented in web format (html). You can also easily rerun the report in PDF or Excel format by clicking on the format presentation globe icon located in the upper right-hand tool bar.

The reports available and the financial activities associated with the centers are as follows:

Report GL210 Cost Center Summary – Revenue
Access this report to view revenue activity associated with budgeted operating centers (100000) excluding auxiliaries. The report includes budget, current month and year to date activity.

Report GL211 Cost Center Summary - Expense
Access this report to view budget, current month and year to date expenditure and commitment activity for budgeted operating centers (100000) excluding auxiliaries. The report excludes all revenue.

Report GL212 Cost Center Summary – Revenue and Expense
Access this report to view all cost centers that are revenue and expenditure based.  It will include revenue, expenditure and commitment activity for all non-grant and non-operating funds.

Report GL214 Cost Center Summary – Grants
Access this report to view revenue, expenditure and commitment activity for sponsored program (24XXXX-49XXXX) funds.


 

 

Also available on the portal are prompted transactional reports. By following the instructions provided when you select a report, you can review revenues and expenses for your portfolio for various periods and combinations of funds, organizations and accounts. The transactional reports available are as follows:

Transactional Report GL050 – Revenue
Access this report to view selected revenue activity for various funds and organizations.

Transactional Report GL051 – Compensation Expense
Access this report to view selected compensation activity (6XXX) for various funds and organizations. (Note:  you must have compensation security to access this report).

Transactional Report GL052 – Non-Compensation Expense
Access this report to view selected non-compensation expense activity (7XXX) for various funds and organizations.

In addition to the transactional prompted reports, all transaction detail is provided in the cost center reports via a drill-through to supporting data from the appropriate account line and column.

Training Available

For those interested in learning more about the COGNOS reporting tool, COGNOS training is available via request. Participants can learn how to schedule and run reports, save output, create report folders, and save report prompts. Please contact Amy Lavin at amy.lavin@temple.edu.

Please do not hesitate to contact anyone in General and Research Accounting or the Budget Office if you have any questions or require any guidance in navigating through these reports.   A directory of department personnel can be viewed at http://www.temple.edu/controller/directory.htm

Available Tutorials (linik to FAQ)

 

 

 

 

 

 

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