University of Minnesota
Office of Human Resources
http://www.umn.edu/ohr
612-625-2016

Financial Management Courses

Course Descriptions

Accounts Receivable Inquiry

This online course provides departmental staff with background in navigating customer information, billing details, accounts receivable, invoice reprinting, and accounts receivable monitoring in the financial system. As a result of taking this training, participants will be able to research and assist in resolving customer billing questions.

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Accounts Receivable Monitoring

This online course provides an overview of how nonsponsored accounts receivable are accounted for at the University. Participants will review policies and procedures related to accounts receivable, the financial system processes, and reports. Specific emphasis will be on the monitoring activities associated with accounts receivable balances and collections. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts, Basic Accounting II

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Asset Accounting

This online course discusses how capital assets are accounted for on the balance sheet at the time of purchase, and the impacts depreciation expense will have on a department’s monthly balances. Participants will get an overview of balance sheet items, asset accounting, and reporting specific to assets and depreciation expense.

Prerequisites: Basic Accounting, Basic Accounting II, Chart of Accounts

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Bank Card Reconciliation

This online course provides an overview of the process for reconciling point-of-sale bank card payments. Participants will also review policies and procedures related to accepting bank card payments. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts

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Basic Accounting

This online course provides an overview of Basic Accounting principles. Participants will understand how to use debits and credits to balance entries in double-entry accounting, as well as how fund accounting is used at the University. The course will define when the accounting periods at the University begin and end within the fiscal year, and explain what assets, liabilities, equity, revenue, and expenses are and how they affect the financial picture and work into the accounting equation. An online assessment will be available at the end of the course.

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Basic Accounting II

This online course provides a more detailed review of basic accounting principles. Participants will review the different types of assets, liabilities, revenues, and expenses. An overview of the key financial statements used by the University will be provided. An online assessment will be available at the end of the course.

Prerequisite: Basic Accounting

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Budget Development Worksheet

This online course for RRC managers covers how RRC managers will use the PeopleSoft financial system to complete and submit their Budget Development Worksheets. The Budget Development Worksheet is a forecasting tool that RRC managers submit to University Budget and Finance. This worksheet indicates the estimated revenue and expenditures for the remainder of the current fiscal year as well as estimates for the next fiscal year.

Prerequisites: Basic Accounting, Chart of Accounts

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Budget Entry (Dept and RRC)

Budget Entry training is completed within the individual RRC units via a train-the-trainer program. Please see your RRC manager for more information.

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Budget Entry/Position Budgeting Quick Courses

The audience for these refresher courses are employees who are responsible for budgeting at the DeptID or RRC level who already have access to Budget Entry/Position Budgeting in the financial system.

The courses are not a substitute for the required classroom training. However, classroom training does not need to be repeated if it was completed in prior years.

FY 2015 Detailed Budget Entry Quick Course Registration (4-1-14)

FY 2015 Position Budgeting Quick Course Registration

RRC Manager/Designee Quick Course Registration (2-21-14)

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Budget Journals

MINNEAPOLIS WEST BANK

Tue, April 29, 8:30-12:30

This instructor-led course discusses budget adjustments policies and procedures, when and how to use commitment control to enter and process budget journals, when and how to use the General Ledger to enter and process budget journals, how to enter and process a budget transfer, how to view and solve budget errors, and how to search and review budgets for ChartField string. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts

RRC manager approval is required for gaining access to entering budgets. Please have approval sent to finsys@umn.edu before submitting an Access Request Form (ARF) to Data Security.

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Chart of Accounts

Minneapolis West Bank

Thu, April 24, 8:30-4:00

Wed, May 7, 8:30-4:00

Thu, May 22, 8:30-4:00

Tue, June 3, 8:30-4:00

Wed, June 18, 8:30-4:00

This instructor-led course provides a detailed review of the new financial system's Chart of Accounts structure and the importance it plays in the financial well-being of the University. Participants will understand the importance of the ChartFields and how to select the appropriate codes to complete the account string. Through group exercises and discussion, participants will apply the concepts learned in class. An online assessment will be available at the end of the course.

Prerequisite: Basic Accounting

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Chart of Accounts Refresher

This online course provides a review of the new financial system's Chart of Accounts structure and the importance it plays in the financial well-being of the University. Participants will understand the importance of the ChartFields and how to select the appropriate codes to complete the account string. This course is designed to be a review and should be taken in addition to the classroom Chart of Accounts session. Through self-paced exercises, participants will practice the concepts learned in the classroom and online Chart of Accounts courses.

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CPS Change Orders and Amendments

This online tutorial helps procurement specialists and CPS preparers determine the correct change process to use for changes or additions to Contracts for Professional Services. It also covers the different types of approvals that are necessary for CPS change orders and CPS amendments.

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Create Bills

UPCOMING DATES

Request a new session.

This instructor-led course provides an overview of the policies and procedures related to nonsponsored accounts receivable at the University. Participants will learn what constitutes a nonsponsored receivable and how to use the financial system to generate a bill for a customer. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts, Customer Information Overview

Cluster director approval is required before receiving access. Your cluster director should email finsys@umn.edu with your employee information, course/access approved, and the reason training/access is needed.

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Create Requisitions

Minneapolis West Bank

Wed-Thu, April 30-May 1, 8:30-4:00

Wed-Thu, May 14-15, 8:30-4:00

Tue-Wed, May 27-28, 8:30-4:00

Wed-Thu, June 11-12, 8:30-4:00

Tue-Wed, June 24-25, 8:30-4:00

This instructor-led course provides hands-on instructions for completing the different types of purchase requisitions in the financial system, including purchasing from UMarket. Participants will review policies and procedures related to purchasing, the different types of requisitions available, and the process to complete a requisition. This course includes both purchases of standard goods and services and professional services, but it does not include Procurement Card (PCard) purchases. After taking this course you are requested to take the Receiving Purchases online course to gain more knowledge about the receiving purchases process. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts, Vendor Inquiry

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Creating An Interactive Report Dashboard

This online course provides an overview of creating an interactive report dashboard in UM Analytics (Business Intelligence - BI). It is intended for those individuals who will have access to author dashboards in BI. The course includes creating dashboard page layouts and adding dashboard objects.

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Credit Invoice Approvals

This online course covers the credit invoice approvals process in the Enterprise Financial System. Upon completion of this course, the participant will be able to:

  • Understand the role of the credit approval process in helping to ensure preservation of University resources.
  • Distinguish the three types of credit adjustments.
  • Determine if a credit transaction meets requirements for approval.
  • Review and approve credit adjustments as appropriate through the UM approve Credit Transactions page of the Billing module.

Prerequisites: Basic Accounting, Chart of Accounts

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Customer Information Overview 

This online course discusses the customer information that needs to be verified and reviewed prior to bills being entered in the system. Participants will get an overview of customer information, contact information, customer tax status, and credit risk assessment, along with instructions on searching for customers, requesting new customers or changes to existing customers via the UM Maintain Customer page. An online assessment will be available at the end of the course.

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Data Warehouse

This online course provides an overview of the University's Data Warehouse query-building tool. Participants will understand how to use the point-and-click method to build a query.

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Endowments

This online course provides a detailed review of the endowments process from a department’s perspective. All policies and procedures related to endowments and the process for recording and changing an endowment in the financial system are reviewed. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts

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Faculty Reporting: Financials

UPCOMING DATES

TBD

This instructor-led course provides information about the various financial reports available through umreports.umn.edu. Faculty will discuss the interpretation of the data available within the reports and the financial decisions the data supports.

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Financial Management Orientation

This online course provides an introduction to the University of Minnesota and presents an overview of the financial operations at the University.

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Financial System Navigation

This online course is intended to give a brief overview of the navigational features of PeopleSoft. It can be used as an introduction before attending financial system courses, or it can be used as a refresher after attending training. This course is not intended to teach advanced features like searches, inquiries, and reporting.

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Internal Controls

Training Services, the Controller's Office, and the Department of Audits have partnered to assist University management and staff in understanding and implementing internal controls. This course provides a means of prevention and awareness of institutional risks using the Integrated Framework Control Model.

This course is available as a unit session for a group of 10 or more.

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Journal Entry

UPCOMING DATES

Request a new session.

This instructor-led course provides an overview of what constitutes a journal voucher in a department, the accounting principles surrounding journal vouchers, and how to process a voucher in the financial system. Participants will understand how to create and change a journal voucher. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts, Basic Accounting II

Cluster director approval is required before receiving access. Your cluster director should email finsys@umn.edu with your employee information, course/access approved, and the reason training/access is needed.

This course is scheduled by request only. If you need training, please request a new session.

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Journal Entry Approvals

This online course provides instruction for processing approvals for journal voucher transactions. Participants will review policies and procedures as well as system features specifically for approvers. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts, Basic Accounting II

Cluster director approval is required before receiving access. Your cluster director should email finsys@umn.edu with your employee information, course/access approved, and the reason training/access is needed.

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Journal Entry Upload Process

This instructor-led course provides an overview of the journal entry upload process. Attendees are selected and approved by cluster directors and Accounting Services. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts, Journal Entry

Cluster director approval is required before receiving access. Your cluster director should email finsys@umn.edu with your employee information, course/access approved, and the reason training/access is needed.

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Management-Level Purchasing

What do people managing or overseeing purchasing activity in their departments need to know? The University's director of purchasing provides information on the principles and values that govern purchasing processes at the University in terms of how these values and principles are supported by management staff at the department and college levels in the conduct of their department's purchasing activities.

This course is available as a unit session for a group of 10 or more.

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Manager Reporting: Financials

Minneapolis West Bank

Thu, May 8, 1:00-2:30

This instructor-led course provides information about the various financial reports available through umreports.umn.edu. Managers will discuss the interpretation of the data available within the reports and the financial decisions the data supports.

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Navigating and Interpreting UM Analytical Dashboards

Upcoming Dates

TBD

This instructor-led course provides participants with background in navigating financial reports in UM Analytics dashboards. As a result of taking this training, participants will be able to run financial reports using various prompts and understand the business questions answered by each report.

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nVision

This online course provides learners with an introduction to the nVision tool. This tool can be used to create financial reports in PeopleSoft. Learners will review the elements needed to create an nVision report and the order in which to do it. Learners will be provided with a resource page that lists the primary nVision layouts currently available. This course is for learners who are comfortable with report writing tools and are looking for an additional resource for creating financial reports.

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PCard Approvals

This online course provides instruction on processing approvals for procurement card reconciliation. Participants will review policies and procedures as well as system features specifically for approvers. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts

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PCard Cardholder Training: Using the University PCard

This online course provides an overview of the Using the University Procurement Card policy and its procedures. This course will provide participants with the necessary tools to be fiscally responsible and compliant cardholders.

Upon completion of this course, participants will be able to:

  • Explain what a Procurement Card (PCard) is and how it supports the University's overall procurement process.
  • Use the PCard to purchase standard goods and services for mission-related purposes.
  • Distinguish between allowable and unallowable PCard purchases.
  • Understand that personal or inappropriate use of the PCard will result in disciplinary action, including termination of employment.
  • Recognize there are reconciliation tasks that must be completed every month.
  • Use the appropriate resources for troubleshooting when special situations arise such as a lost or stolen PCard.

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PCard Reconciliation

Minneapolis West Bank

Wed, May 14, 8:30-12:00

Thu, June 26, 8:30-12:00

This instructor-led course provides specific information to users responsible for performing monthly Procurement Card (PCard) reconciliation within a department. Specifically, it will provide an overview of the PCard reconciliation process, policies, deadlines, and the proper monitoring of PCard transactions. Users will also perform data entry to gain first-hand practice at reconciling PCard transactions in the financial system. Throughout the course, users will gain knowledge on how to effectively use internal controls and other resources to help them successfully reconcile and monitor PCard transactions. To receive a PCard, follow the process outlined on the Policy Library. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts

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Procurement Process Analysis

Upcoming Dates

Email orgeff@umn.edu to request this course.

This instructor-led course provides information on procurement-related inquiries and queries in the financial system. It provides an overview of the procurement process covering requisition and purchase order creation, receipt and voucher entry, and payment creation. Each session is tailored based on participants’ feedback on a pre-course survey. Participants will learn how to run and interpret procurement-related inquiries and use existing queries that assist in answering the top identified business-critical questions related to the procurement process. In order to run inquiries and queries specific to a college/admin unit, participants will need to bring their M Keys and applicable data such as requisition, PO, and voucher numbers; ChartField values (Fund, DeptID, Program, Project, etc.); vendor names; procurement specialist’s Internet ID; and origin code. Note: This course does not address inquiring into PCard transactions.

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Procurement Specialist

UPCOMING DATES

TBD

This instructor-led course provides detailed instructions on the various responsibilities of a procurement specialist. Particular emphasis is placed on the areas of high risk and financial compliance that a procurement specialist is responsible for, such as change orders, contracts for professional services (CPS), and error resolutions. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts, Create Requisitions, Receiving Purchases, Vendor Inquiry, Vendor Payments

This course schedule is determined once approved registration requests are received by Training Services.

Cluster director approval is required before receiving access. Your cluster director should email finsys@umn.edu with your employee information, course/access approved, and the reason training/access is needed.

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Purchasing Goods and Services at the University of Minnesota

This online course provides an overview of the business processes for departmental purchasing, which are: know the purchasing guidelines, select a supplier, and choose a purchase method. The course concludes with interactive knowledge check activities where learners may navigate through various scenarios focused on making the most common departmental purchases.

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Query Manager

UPCOMING DATES

Request a new session.

This is a 2-day accelerated course for advanced users of the financial system. Due to the complexity of the query tool, the Controller’s Office and the Office of Budget and Finance identified competencies that are necessary to be successful in using this tool. Participants are expected to have a high level of knowledge, skills, and abilities for learning to use the Query tool and analyze the data results. To determine if this tool is right for you, review the course description and required skill set (pdf).

Prerequisites: Basic Accounting, Chart of Accounts

Also recommended: Financial System Navigation

RRC manager approval is required for gaining access to entering budgets. Please have approval sent to finsys@umn.edu before submitting an Access Request Form (ARF) to Data Security.

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Receiving Purchases

This online course provides an overview of the process for receiving purchases in the financial system. Online receiving is an integral part of the financial system and is required for all purchases originated with a requisition. Participants will review policies and procedures as well as the process for receiving in the financial system. An online assessment will be available at the end of the course.

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Reconciliation and Fiscal Responsibility

Upcoming Dates

TBD

This instructor-led course provides participants with an overview of the reconciliation, validation, and verification process. Participants will be introduced to available tools, terminology, and policies for fiscal responsibility.

Prerequisites: Basic Accounting, Chart of Accounts

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Recycle Status Vouchers

This online course provides information on the importance of resolving vouchers in recycle status by defining recycle status and explaining how to identify vouchers in recycle status. As a result of this training, participants will be able to:

  • Define the term: recycle status.
  • Identify vouchers in recycle status.
  • Resolve vouchers in recycle status according to its error, cause, and resolution.

This training was developed as a result of a system enhancement and is highly recommended for current voucher preparers.

Prerequisites: Basic Accounting, Chart of Accounts, Vendor Inquiry, Vendor Payments

Access to this course was automatically granted to current voucher specialists and is available on MyU under the My Courses tab. New voucher specialists will receive this information when completing the Vendor Payments training course. Contact Training Services at 612-626-1373 with questions.

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Requisition Approvals

This online course provides instruction on processing approvals for all types of requisitions. Participants will review policies and procedures as well as system features specifically for approvers. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts

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Travel Authorizations and Expense Reimbursement

Minneapolis West Bank

Tue, April 22, 8:30-3:00

Thu, May 29, 8:30-3:00

Wed, June 11, 8:30-3:00

This instructor-led course provides an overview of the ways employees can record travel-related information and request reimbursement for all expenses, including human subject and travel-related expenses. Participants will review policy and procedures related to travel and other types of employee reimbursement expenses, as well as the process for recording the information in the financial system. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts

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Travel and Expense Approvals

This online course provides instruction on processing approvals for all types of expense reimbursements, including travel. Participants will review policies and procedures as well as system features specifically for approvers. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts

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Traveling on University Business

This online course provides a detailed review of the policy and procedures for arranging and reimbursing travel. Through interactive trivia questions, participants will understand how to apply the University's travel policy and procedure.

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UM Analytics: Space Reports 

This online course is comprised of a series of four videos which provide department space coordinators with background in navigating the Space Management reports through the UM Analytics dashboard reporting tool. As a result of taking this training, participants will be able to locate and download Space Inventory reports using various prompts. Participants will become familiar with how to run various reports to answer business questions as represented in the reference links.

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Vendor Inquiry

This online course is an additional prerequisite for the Create Requisitions and Vendor Payments courses. It provides an overview of the information contained in the vendor file. Participants will understand the critical information required in the file and will be able to complete the vendor request form appropriately as a result. Participants will also be able to use the vendor file to look up information as necessary to complete their financial transactions. No access is granted by completion of this course.

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Vendor Payment Approvals

This online course provides instruction on processing approvals for payment vouchers and internal sales journal vouchers. Participants will review policies and procedures as well as system features specifically for approvers. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts

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Vendor Payments

Minneapolis West Bank

Wed, May 28, 8:30-4:00

Request a new session.

This instructor-led course provides an in-depth review of the policies and procedures associated with payments to external vendors and internal sales transactions. Participants will use case studies and hands-on examples to review the various types of payment vouchers. This course will cover an overview of vendor and tax-related issues necessary to correctly process payments to vendors. An online assessment will be available at the end of the course.

Prerequisites: Basic Accounting, Chart of Accounts, Vendor Inquiry

Cluster director approval is required before receiving access. Your cluster director should email finsys@umn.edu with your employee information, course/access approved, and the reason training/access is needed.

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 To request disability accommodations, please email orgeff@umn.edu.