Manage Supplier Banks (30.1.5)
- 03 Jul 2024
- 7 Minutes to read
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Manage Supplier Banks (30.1.5)
- Updated on 03 Jul 2024
- 7 Minutes to read
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Business Process Overview
The banking management process within Florida PALM involves receiving a monthly file of authorized banks from the bank through the U.S. Federal Reserve, which is then shared with agencies for integration into their systems. Florida PALM conducts a match of the authorized bank file with supplier banking information, updating routing numbers accordingly. The DFS AP Supplier Banking Processor monitors exceptions and updates through reports, managing electronic payment methods and banking information. Reasons for updates may include discrepancies or supplier-initiated changes. Corrective actions may involve research or contact with suppliers, and updates are made accordingly. If banking information is updated by the supplier, the DFS AP Supplier Banking Processor enters the changes into the system. Payments are adjusted based on the updated information, with temporary methods like System Check used if necessary. Wire payment method requests are reviewed by the Treasury AP Supplier Approver, who assesses data completeness and communicates decisions to the DFS AP Supplier Banking Processor for implementation. Approved wire payments are processed through Voucher Workflow, while suppliers failing to meet requirements retain their existing payment methods.
Business Process Diagram
Business Roles
The Business Process Flow Diagrams use horizontal swim lanes to depict where activities are performed by different parties or systems. Each swim lane is titled with a role, either agency-based or within DFS, and in some cases, are representative of an external entity or system. The swim lanes may change from page to page within a single business subprocess as more or fewer roles are required to execute sections of the business subprocess.
- AP Reporter (role not shown as a swimlane on flow diagram) role assigned to view AP reports in Florida PALM
- Confidential AP Viewer (role not shown as a swimlane on flow diagram) role to view confidential data in AP reports in Florida PALM
- DFS AP Supplier Approver: DFS role responsible for maintaining the supplier record in Florida PALM, to include reviewing and approving supplier registrations and change requests and monitoring and updating supplier records, as needed
- DFS AP Supplier Banking Processor: DFS role responsible for managing supplier electronic Payment Methods and banking information
- Treasury AP Supplier Approver: DFS Treasury role responsible for approving supplier records to be set up with a Wire Payment Method
Business Process Flows Details
The tables below describe steps in each business subprocess as reflected on the Business Process Flow Diagrams. The tables also reflect information associated with each step describing the intent of the specific process. Florida PALM screenshots are included within the sections to allow connections to be made from specific business subprocess steps to screens within Florida PALM. This information should be read in conjunction with the Business Process Flow Diagrams. This information should be read in conjunction with the Business Process Flow Diagrams.
Process Step ID | Process Step Title | Description of Process |
|---|---|---|
1 | Inbound Authorized Bank Titles (API030) | The state's disbursement bank provides a monthly file to Florida PALM of authorized banks as a passthrough from the U.S. Federal Reserve. |
2 | Share Authorized Bank Titles File | Florida PALM shares the Authorized Bank Titles file with agencies by placing the file on the server for use in enterprise or agency business systems as needed. |
3 | Match Supplier Bank Accounts and Update Records | Florida PALM runs a match of the Authorized Banks Title File with Supplier banking information in Florida PALM. When matches are found within supplier banking information and it is noted as a change, the bank routing number and bank name is updated on the supplier record per the information included within the Federal Reserve file. |
4 | Manage Bank Exceptions and Updates | The DFS AP Supplier Banking Processor reviews the Supplier Authorized Bank Exceptions and Updates report for any exceptions or updates that may need attention. |
5 | Identify Need to Update Supplier Payment Method | The DFS AP Supplier Banking Processor manages the supplier electronic Payment Methods and banking information and may identify the need for an update to a supplier record resulting from a review of the Notice of Changes received from the bank as part of the Manage ACH/EFT Notifications standardized business subprocess or the supplier may submit a form to update their banking information. |
6 | Update Supplier Payment Method | The DFS AP Supplier Banking Processor may have several reasons that the Payment Method or banking information needs to be updated. Based on their review of the Supplier Authorized Bank Exceptions and Updates report, they may need to initiate corrective actions including research and possible contact with the supplier. The DFS AP Supplier Banking Processor updates the supplier record to change the Payment Method, as needed. The Supplier Detail Report is available for review. |
7 | Enter Supplier Banking Information | If the supplier submits the appropriate form to DFS to update their banking information, the DFS AP Supplier Banking Processor enters the updated banking information into the appropriate fields within the Location tab on the supplier record within Florida PALM. |
8 | Supplier Record Updated | Upon save the supplier record is updated with the updated information that was entered by the DFS AP Supplier Banking Processor. |
9 | Supplier Payment Method System Check | If the Payment Method on the supplier record needs to be updated, but the Wire or ACH/EFT is not yet available for use, the supplier will receive payments via System Check (warrant) within the MAIN Location until the banking information has been validated via the prenote process within the Process Pay Cycle business subprocess. |
10 | Review Supplier Record | If the Payment Method on the supplier record needs to be updated to Wire, the DFS AP Supplier Viewer reviews all Payment Method updates/requests where the Wire Payment Method has been selected. The DFS AP Supplier Viewer reviews the supplier record to determine if all of the required data elements exist or if anything else is needed. If more information is needed, the DFS AP Supplier Viewer and the DFS AP Supplier Banking Processor work with the supplier or agency to obtain the appropriate information. |
11 | Inform DFS of Supplier Approval Decision | The DFS AP Supplier Viewer communicates the decision for the Wire Payment Method for the supplier to the DFS AP Supplier Banking Processor. |
12 | Update Supplier Record | If the requirements are met to approve the supplier with a Wire Payment Method, the DFS AP Banking Supplier Processor updates the supplier Payment Method to Wire. All Vouchers with a Wire Payment Method are routed through Voucher Workflow. If the requirements are not met to approve the supplier with a Wire Payment Method, no updates are necessary on the supplier record. |
Accounting Events
Accounting events originate during transaction processing in the applicable source module. The accounting events impact the source module, Commitment Control ledgers, and the General ledger (Actuals).
- Source Module accounting entries require user input (I) of the primary line (i.e., expenditure, revenues) with an automated (A) system offsetting line (i.e., payable, receivable) during transaction entry. The source model transaction must pass Edit Check, Budget Check, and Cash Check (on applicable entries) prior to posting the transaction.
- The Run Budget Check (Commitment Control) process automatically affects balances in the appropriate budget ledger (i.e., appropriation, spendable cash) if the transaction passes the budget check process.
- After the transaction is posted in the source module, an automated system process summarizes and posts the entries in the General Ledger module to the Actuals Ledger.
The table below provides the most common accounting events applicable to this business process.
Acct Event ID | Accounting Event | Commitment Control Ledger(s) Impact | Source Module Accounting Entry | General Ledger (Actuals) Entry |
|---|---|---|---|---|
N/A |
Reports
Key Reports are displayed as icons with the Report Number on this Business Process. The table below provides the reports identified to be produced at a particular process step or is used to support the completion of a process step.
Report Number | Report RICEFW ID | Report Description | Report Source | Report | Audience |
|---|---|---|---|---|---|
R1 | APR068 | Supplier Detail Report – a report that lists suppliers by name, TIN, or other identifying information | Data Warehouse | Periodic | Agency, DFS |
R7 | APR112 | Supplier Authorized Banks Exceptions and Updates Report – a report of supplier banks in Florida PALM not listed on the Authorized BankTitles File and Updates made to supplier records based on the Authorized Bank Titles File | PeopleSoft | Periodic | DFS |
Interfaces
The table below provides the Interfaces identified on the Business Process.
Interface Number | Interface Description | Interface Frequency | Source | Target |
|---|---|---|---|---|
API030 | Inbound Authorized Bank Titles – Inbound interface containing valid financial institution routing numbers along with names to be matched against the supplier file from the US Federal Reserve. | Daily | Bank | Florida PALM |
Forms
The table below provides the forms identified on this Business Process.
Form Number | Form Description | Audience |
|---|---|---|
N/A |
Workflows
The table below provides the workflows identified on this Business Process.
Workflow Number | Workflow Description | Audience |
|---|---|---|
N/A |
Version History
Date | Revision Description |
|---|---|
02/08/2024 | Original Version |
| 02/13/2024 | Defined updates to payment methods |
| 07/02/2024 | Added roles:
|
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