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Compass System Overview

Compass standardizes and automates the financial management process throughout Emory, adding value to the way you work. The Compass system includes:

In addition, Compass integrates with existing Emory PeopleSoft systems:

Click on a module title to read more about each module.


Accounts Payable/Travel and Expense

The Accounts Payable and Travel and Expense modules streamline the process for completing vouchers and how payments are processed at Emory. All employees will use the expense module to enter expense reports for reimbursement of all out of pocket expenses (travel and non-travel).

The modules provides a consistent and standardized process for the Emory community.

The Accounts Payable and Travel and Expense functionality provides:

  • Access to online expense reports and travel authorizations
  • More robust approval and routing for voucher entries
  • Workflow-driven payment processing
  • Improved management of disbursements critical to maintaining strong controls over processes, approvals, and cash flow
  • Increased tracking of vendor management information used to improve control over reporting and vendor relations
  • Integration of Grants Pre-Award and Post-Award with Accounts Payable

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Accounts Receivable/ Billing (non-patient)

Most Emory University and Healthcare departments will key all Non-Grant and Non-Patient billing information directly into Compass, offering a streamlined approach to billing/accounts receivables and management of the invoicing process. All existing legacy (CODA BI-AR, Mass500, and QuickBooks) and shadow systems used for billing converted to the Accounts Receivables and Billing modules.

Billing teams will continue to perform miscellaneous external billings on behalf of their departments, divisions, or sections. Sponsored activity will originate in the Grants, Projects, and Contracts modules. Office of Grants and Contracts will continue to be responsible for sponsored billing and for managing the associated receivables.

The Accounts Receivable/Billing functionality provides:

  • Ability to monitor cash position at any time
  • Creation of one time, recurring and installment invoices
  • Dunning letters and customer statements
  • Ability to process billing adjustments and tolerances
  • Payment processing through the AR module
  • Maintain customer balances
  • Maintain full open AR item history
  • Report in multiple formats, providing a plethora of detailed and summary information
  • Age Receivables by Business Unit, business area, Customer, or other GL ChartFields
  • Incorporate data from other enterprise applications, such as receivables, payables, budgets, CORE Cashiering system, EBO, and Healthquest

 

 

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Asset Management

All University and Healthcare owned capital assets will be recorded in Compass through the implementation of the Asset Management module and its connections with the other Compass financials modules. Assets will be automatically fed from the Accounts Payable and Project Costing modules directly into the AM system, and will be posted to the General Ledger.

The Asset Management functionality provides:

  • Improvements in recording and reporting capital assets (equipment, buildings, land, etc.)
  • Automated maintenance of all assets in one system; departments can view all their capital assets in one integrated system
  • Ability to account for all assets when they are received
  • Improved efficiencies and reduction of time and effort on system reconciliation
  • Ability to store extensive physical asset information which supports maintaining tight control over assets throughout their life cycle
  • Ability to plan, budget, and track capital acquisitions

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Commitment Control

Commitment Control enables the controlling or tracking of expenditures/revenues actively against predefined, authorized budgets.

The Commitment Control functionality provides:

  • Ability to create and maintain control budgets
  • Ability to check actual transactions (e.g., actual expenditures and revenues) against control budgets
  • Ability to check imminent future financial obligations (pre-encumbrances and encumbrances) against control budgets

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General Ledger (GL)

The General Ledger serves as the core of the Financial Management System. Compass delivers multiple ways to enter journal entries into the GL, including journal generator, direct entry, standard journals (journals that can be used on a repetitive basis), flat-file import, and spreadsheet upload. The majority of journal entries will be created by journal generator, which transforms sub-module transactions (AP, AR, etc.) into journal entries.

All journals will be edited and budget-checked prior to posting to the GL. Journals created through the journal-generator process will be approved in the sub-modules prior to submission to the GL. If access is granted, journals should be created in the department where the background knowledge of the transaction exists.

The General Ledger functionality provides:

  • Minimized manual data entry due to new options for creating recurring journal entry templates
  • Options for importing large volume journal entries into Compass
  • More efficient journal entry through shortcuts to commonly used ChartField combinations
  • More efficient ledger utilizing the transaction detail maintained in the modules
  • Journal processing edits which provide better data in the General Ledger, resulting in more accurate reporting
  • Departments with user-defined ChartFields that enhance the ability to further define activities for departmental tracking and reporting
  • Increased flexibility in the selection of ChartField values when creating accounting strings
  • Automation of certain elements of annual reports, including statement of cash flows and various financial statement footnotes
  • Ability to capture a true University and Healthcare wide trial balance (balance sheet and income statement) from a single source
  • Improved clarity of organizational and financial reporting relationships through the use of trees
  • Simplified maintenance of the University's and Healthcare's organizational or financial reporting structures
  • Improved allocations process

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Grants (University Only)

Compass will integrate into one system, the majority of sponsored research data currently captured in the OSP and FAS legacy systems respectively.

The Grants functionality provides:

  • Research administration and proposal generation
  • Transitioning proposals into awards; tracking awards
  • Facilities and administration processing
  • Comprehensive bill generation
  • Flexible financial reporting
  • Cost sharing will be linked to projects within the system
  • F & A processing will be daily instead of weekly
  • The system will allow multiple payments regardless of contract status
  • Sponsored Financial Reporting (SFR)
  • A reporting and billing worksheet
  • Automated letter of credit billing/draw/financial milestone eliminates a manual, time-intensive system
  • Interim billing can be scheduled and automated
  • Workbench functionality which allows administrators to effectively manage their workloads and provide better customer service
  • Ability to identify cost-sharing provides a clear audit trail and decreased risk
  • Automated small business reporting provides increased ability and ease to comply with federal regulations vs. current manual system
  • Eliminate many manual processes in the Office of Sponsored Programs (OSP) and Office of Grants & Contracts Accounting (OGCA), such as account generation/NOA processing, billing, linking cost sharing to each project, and timely agency reporting
  • Integrate the pre-award and post-award office processes into one central system and facilitate the efficiency of a one-stop shop of Research Administration for the campus
  • Pre-award and Post-award data will now be housed in one central location for quick and easy retrieval, and the ability now exists to capture meaningful data in areas never captured before
  • Improve the University's ability to monitor and ensure financial and other mandated compliance requirements of Emory's grant funds
  • Provide consistent information to manage and account for sponsored programs (projects)
  • Standardize and simplify all processes in the propose to close process flow

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PeopleSoft HR (PSHR)

The existing PeopleSoft HR system was updated to share information with Compass. The update facilitates sharing of the new Chart of Accounts and GL Business Unit Structures between the two systems. Existing PeopleSoft HR customizations (related to payroll processing and payroll accounting distribution) were eliminated (where possible) and replaced with delivered HR functionality. The SmartKey, used to simplify data entry of the Chart of Accounts, is similar to codes currently used in transactions.


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PeopleSoft Student Administration (PSSA)

The PeopleSoft Student Administration system was reconfigured to integrate with Compass, utilizing delivered functionality (i.e., PeopleSoft Integration Broker for Student Refunding and General Ledger interfaces). Additionally, the PeopleSoft Student Administration system was reconfigured to accommodate the new Chart of Accounts and Department ID numbering codes.

The Chart of Account values created and maintained by Compass are interfaced nightly to the PeopleSoft Student Administration system, ensuring timely and accurate processing of Student Administration financial transactions.


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