Creating Your Agency’s SpeedKeys

Introduction

The SpeedKey functionality is essential for managing various Financials and Payroll transactions within the Florida PALM system. This article provides detailed information on making decisions regarding how to use SpeedKeys within Florida PALM.

Things To Know

Use of SpeedKeys require active management by your agency.  An agency policy or procedure on SpeedKey usage should be established to provide information and expectation around the creation and use of “optional” SpeedKeys. 

SpeedKeys are:

• Required for Payroll and for PCards and are available as “optional” for Financials
• Single line or multi-line
• A fixed length of 10 digits and configured values can be up 10 digits, including letters, numbers and alphanumeric characters

Creating or updating SpeedKeys may be done through spreadsheet upload or inbound interface. 

SpeedKeys are not available in all modules. Single line are available for use on transactions in Financials modules such as AR, AP, GL, IU, KK, and PO, but not in AM, CM and PC.  Multi-line are only in AP and PO modules and are required to total 100%.

What Payroll SpeedKeys does my Agency need?

Things To Know

Payroll SpeedKeys require the Account (defaulted to 70001), Organization, Fund, Budget Entity, State Program, and Category. Additional ChartField values (e.g., OA1, Grant, Project) are optional.

Positions funded from FCO Categories (08XXXX or 14XXXX) require a Project ID and related Project ChartFields.

Funding in categories other than Salary (010000), OPS (030000), or special categories 103290 and 104166 require approval by A&A to apply the Payroll Indicator flag.

One or more single-line Payroll SpeedKeys can be assigned to a position for split funding.

Separate SpeedKeys must be established for CJIP and FFIP payments.

Payroll SpeedKeys can be inactivated or reactivated but cannot be updated.

What PCard SpeedKeys does my Agency need? 

Things To Know

The Works system requires the use of single-line SpeedKeys for providing the Fund, Budget Entity, Category, and State Program Component for all PCard transactions.

The SpeedKeys for use in Works MUST be notated as PCard SpeedKeys (i.e., PCard Indicator checked) in Florida PALM; however, PCard SpeedKeys can be used for other  transactions in Florida PALM modules.

In Works, more than one single-line SpeedKey may be used on a single PCard transaction to post a charge to multiple funding sources.

In Works, the additional ChartFields (e.g., Organization, OA1, Grant) can be added on the transaction.

Additional SpeedKeys may be added prior to go live and after.

What “optional” Financials SpeedKeys does my Agency need? 

Things To Know

“Optional” Financials SpeedKeys are an online input tool designed to be used by an end user for ease of entry and should be established with intention to use, not “just in case”.  The focus should be on using SpeedKeys for high volume, online transactions.

SpeedKeys flagged as PCard can be used on other non-PCard Financial transactions. 

Encumbered payments use the coding from the encumbrance, which reduces errors.  Deposits associated with receivables use the coding from the receivable, which reduces errors.

Static coding for transactions make using cheat sheets or other methods of guidance effective to support online user selection of ChartFields.

When considering common coding combinations, look back over a representative timeframe, such as the past year.

For Financials SpeedKeys, there cannot be multiple SpeedKeys with the same name, even for those in “inactive” status.  However, any number or combination of ChartFields can be used in a Financials SpeedKey.

A Financials SpeedKey can be updated by creating a new effective-dated record.  Financials SpeedKeys become available for use in a transaction based on the effective date of the SpeedKey.   The effective-dated record used (and therefore the coding string used) is based on the accounting date (transaction date) of the entry. 

Additional SpeedKeys may be added prior to go live and after.