Alternative formats for this presentation
can be found on the Financial Services website. For assistance, visit or contact us. Email us at [email protected]
or give us a call at 613.533.2050 In this video tutorial, you will learn how
to run the FAST Project Summary Report. The Project Summary Report displays financial
information for research projects at a summary level, such as the surplus/deficit, budget,
revenue, expenses, commitments, and future budgets. You can run the report by project, department,
or by Principal Investigator. To navigate to the report you will begin on
the Queen’s University home page. From there, click on the Search and Sign in
button, then choose MyQueensU-Solus. After entering your Queen’s NetID and Password,
and clicking Login, you will be redirected to your Queen’s portal. From there, you will choose My Applications. You then have two options to access the report. You can click on the FAST link to be directed
to the FAST Homepage. From there, you will select Research Reports
in the menu bar at the top of your screen, and select Project Summary. You can also access the report directly from
the My Applications screen by selecting Project Summary under the Research Reports section. You are now at the filter options screen. From here you can specify how you want to
run the report by entering your filters. You can generate this report for one or more
Principal Investigators, projects, or departments, or you can leave the filters blank and run
a wide open report based on your project security. Please note the date field is a required field. If you wish to filter this report by PI, you
can search by name by clicking on the magnifying glass. Enter the PI’s last name and click search. This will bring up a list of PIs that match
your criteria. You may then select the PI you are looking
for and click the add button. You can filter your report using more than
one PI. To add more PIs to your filter, repeat the
search process. To remove any of your filters, click on them,
and click on the red ‘X’ at the right of the filter box. To filter your report by project, enter the
project number in the search field and click the green plus sign. You can filter your report by adding more
than one project number. To add a project, repeat the search process. You can also search by project name, by clicking
on the magnifying glass, entering a keyword, and selecting the project from the list of
matches that pop up. Again, you can remove the filter by highlighting
it and clicking on the red X. To filter your report by department, enter
the department number in the search field and click the green plus sign. You can also search by department name, by
clicking on the magnifying glass, entering a keyword, and selecting the department from
the list of matches that appear. Again, you can remove the filter by highlighting
it and clicking on the red X. Lastly, you can run the report using only
the date criteria, leaving the other filter options empty, simply by clicking on the green
Execute Report button on the right side of the screen The report will run filtering on all projects
you have been granted access to. Remember that the filter trail is always visible
at the top of any report, allowing you to view the filters you have selected for the
report. I will now explain the different features
of this particular report. The Project Summary Report contains the project
number, the project title or description assigned in the finance system, the PI name, the department
number and name the project is affiliated with, the related fund code, the grant or
contract end date and the status of the project. A status of A indicates the project is active
and a status of I indicates it is inactive. If you click on the project number, you can
access additional information from the TRAQ Awards Module. The report will also provide you with the
project spending deadline, which reflects the last date that expenses can be charged
to the project. You will notice that the details in this column
are colour-coded. Dates which appear in green font indicate
there are more than 3 months remaining before the project spending deadline. If the date appears in yellow, this indicates
there are less than 3 months remaining before the project spending deadline. And finally, if the date appears in red, this
indicates the project spending deadline has passed. The surplus/deficit shows at a quick glance
the financial position of the project. The surplus deficit column is calculated by
taking the amount in the expense budget column and subtracting the amount in the expenses
and commitments column. You will notice the surplus/deficit column
is also colour-coded. Amounts which appear in green font indicate
there is more than 10% of the budget remaining to be spent. Amounts which appear in yellow indicate there
is less than 10% of the budget remaining to be spent, and amounts in red indicate project
spending exceeds the expense budget. The Commitments column represents the total
commitments outstanding for the project. Commitments may include future salaries & benefits,
purchase orders, travel advances, subject payment advances, Graduate Research Assistant
Fellowship payments, and overhead. The Expenses and Commitments column represents
the sum of Actual Expenses and Commitments. The Expense Budget column represents the total
budget to date. The Revenue Received column represents the
revenue posted to the project from inception to date. Finally, the Future Budget (non-overhead)
column represents future budgets for the project which are not yet reflected in the Expense
Budget column. The future budget column does not include
budgeted overhead. Any value on a FAST report which appears in
blue font, represents a hyperlink which allows you to drill down in order to access additional
details. For example, if you drill down on the project
number, you will access additional descriptive data from the awards system such as the awarded
amount, agency and program, and the URS contact. Once you’ve drilled down on a value, you
can always return to the original report by clicking the Return to Project Summary back
button at the top of the screen. You can drill down on Actual Expenses in order
to access additional expense transaction details. Drill down on Commitments to access additional
details at the account level and by commitment type. From there, you can drill down further to
view additional details, such as the payee name for salary commitments. To view budget details by year and by account,
drill down on the expense budgets. In order to view details for revenue received,
drill down on these totals. From there you can drill down further to view
the related journal entry details. And finally, you can drill down on totals
which appear under the Future budget (non-overhead) column in order to access future budget details
by year and by date. Additional information contained in the Project
Summary report includes: the finance contact name, TRAQ DSS#, and any comments that Research
Accounting has entered for that particular project. How may we help you today? If you have questions, give us a call at 613-533-2050
Our fax number is 613-533-6433 Email us at [email protected]
Or Visit the Financial Services website We are located at
207 Stuart Street, 3rd Floor in the Rideau Building Our hours of operation are Monday to Friday
from 8:00 am – 4:00 pm This concludes our tutorial. To learn more or to review additional
Training Resources and Video Tutorials
visit the Financial Services Training page