You Have How Many Funds?!? Managing Multiple Colors of Money with PeopleSoft Project Costing
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Posted by Quest Customer Learning Team
- Last updated 10/04/23
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The City of Seattle has hundreds of revenue streams with unique spending restrictions, from special-purposes taxes to bonds to grants. Ensuring appropriate tracking and usage of various “colors of money” is a challenge for the City’s accounting staff. In 2018, the City deployed a new project-centric chart of accounts and began using PeopleSoft Project Costing and Funds Distribution to make it easier to assign expenses to various funding sources without forcing complex color-of-money tracking onto non-accounting staff. This session will explore lessons learned from the City’s extensive use of PeopleSoft Project Costing and Funds Distribution to support complicated expense tracking requirements.
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