The work in FinPOST is organised into 5 workstreams that cover particular business processes, plus workstreams that cover the breadth of finance activity.
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Source To Pay
This workstream covers sourcing, requisitioning, buying receipting and payment.
The principal areas are:
- Identifying Purchasing Needs & Procuring
- Maintaining Suppliers
- Requisitioning
- Purchasing
- Receipting
- Invoice Processing
- Payments
- Expenses
![](/finpost/t4media/1703_Campus_0085a (2).jpg)
Order To Cash
This covers income processing/accounts receivable. UCD has a wide variety of income sources including
- large blocks of income from State and Research Funding bodies
- student fees
- Vet Hospital and Lyons Farm
- commercial activities
- subsidiary company activities
- miscellaneous other sources
Activities in this area include
- Customer and Master Data setup and maintenance
- Invoicing
- Collecting
- Allocating Payments
- Financial Management of Income
![](/finpost/t4media/2208_Campus_650a-1.jpg)
Projects & Asset Management
Projects are a very important area of activity in the university, with Research Projects and Capital Projects particularly important.
Activities for Research Projects include
- Confirming Project Funding
- Establishing Project
- Tracking Spending & Income
- Reporting To Funding Agency
- Closing Project
Activities for Capital Projects include
- Identifying Project Need & conducting Capital Project Appraisal
- Establishing Project
- Tracking Spending
- Periodically Reviewing Project Progress
- Project Close and Depreciation
![](/finpost/t4media/1805_Campus_011a (2).jpg)
Record To Report & Planning
This process covers activities from recording accounting entries through to producing the financial statements.
- Master Data - Chart Of Accounts & Accounting Policies
- Treasury
- General Accounting
- Period & Year End Close
- Consolidation
- Capital & Tax Accounting
- Financial Reporting including GAAP/FRS 102 and US GAAP Financial Statements, Research Funding Agency accounts and European Investment Bank reporting.
Planning activity includes forecasting, budgeting and financial planning for 1 year and 5 year horizons.
- Operational and University Budgeting
- Staff Planning
- Five Year Planning
- Student Fee Income Census Reporting & Forecasting
- HEA Financial Reporting
- Periodic and Ad Hoc Management Reporting
- Research Overhead Income Calculation and Reporting
Enterprise Architecture
This workstream spans the business processes and covers the integration of the finance system with other systems.
Key systems include
- Ellucian Banner Student System;
- People XD (Core) Payroll and HR System;
- Symplectic Elements Research Funding System;
- InfoHub and Tableau reporting systems.
Data and Conversion
This workstream covers Data and Conversion.
- Developing and implementing a Data Strategy to
- Cleanse
- Enrich
- Migrate
- data across the full breadth of the finance system;
- Manage Master Data including roles and groups;
- Provide Governance over maintenance of data.
- Developing and implementing a Conversion Strategy to
- Convert from old systems to the new systems;
- Provide access to historical data.