Legacy Accounting to SFS Transition (LAST)
LAST is a collection of projects focused on transitioning accounting functions and business processes into SFS (Shared Financial System). Changes to Accounting and Grants business processes are entwined and must occur at the same time. LAST projects will align accounting processes with the planned Grants Project.
LAST will enable the UW to standardize on SFS coding across all accounting transactions. The move to a web-based environment will help greatly reduce processing time for accounting transactions. This will position the UW- Madison financial community for additional improvements and simplified processes. It also moves UW System schools closer to an integrated financial system. LAST's use of Non-Sponsored Project accounts will provide better cost accounting for programs and projects.
These overall improvements are not without challenges to end-users. The new system will create the need for changes in long-standing business practices. For example, LAST will eliminate the use of internal encumbrances.Who will use it?
UW-Madison financial community
Goals
- Replace aging data systems – Reduce reliance on systems that are based on outmoded hardware and software platforms
- Reduce need for supplemental and legacy systems – Reduce the need for supplemental systems by colleges, departments, and other UW offices.
- Consolidate, standardize, and simplify systems – use the same technology platforms and software across the UW System
- Complete the transition from Legacy Accounting to SFS
- Reduce redundant data entry and increase automated integration of systems
Timeline
- July 1, 2007: Implementation of Journal Entry Tool, Non-Salary Cash Transfers, and Capital Equipment System coding changes
- 2008 (Prog Release date): Fringe Benefit Allocation, and Editing Tool.
- Post Program Release: Cash Receipts, Sales Tax, internal Revenue Transfers, Budget Load, Year End Closing processes
The project contact for LAST is Al Benzschawel abenzschaw@bussvc.wisc.edu.
To see how the LAST implementation affects UW-Madison business processes, go to Business Process Changes in the 2008 Program Release.