Although your DLC may have its own distinct process for month-end financial review and control (FRC), you’ll find helpful guidelines and Institute-wide standards on the FRC application in Atlas.

Open the Atlas Financial Review and Control (FRC) application

Open the FRC application in Atlas by selecting "Reports" from the menu, and then "FRC Monthly Review Application" in the "Finance" section. Log in to gain access to the profit centers and cost objects that you are authorized to review.

Customize your review options

When you log in to the FRC application, you’ll have two options. You can sort your data by “CO” (cost object) or by “TT” (Transaction Type). After you specify one or more profit centers, supervisors, or cost objects related to your review, choose whether to show reviewed items (choose “Yes”) or to show only unreviewed/unresolved items (choose “No) and run your report.

You also can rerun your report at any time to change your review options. The application doesn’t automatically save your work, so always save your changes before running a new report.

Complete visual and detailed reviews

The expenses displayed in your report will be color-coded according to the status of your review:

  • Green-shaded expenses have been reviewed successfully (only displayed if you select “Yes” to show reviewed items).
  • Unshaded expenses require only a visual review.
  • Yellow-shaded expenses require a detailed review.
  • Red-shaded expenses are those you have marked as “Issue Identified.” 
Comment on identified issues

You must list a reason for any expense you mark as “Issue Identified.” The FRC report window provides a drop-down “Reason” menu that lists the most common reasons. If your reason isn’t displayed, choose “Other.” The system will then activate the “Comment” field so you can provide the required explanation.

Document resolved items

Once you have resolved an issue, mark the “Resolved” column. As with expenses marked “Issue Identified,” you must select a reason and provide a comment (if applicable) when you resolve an expense.

Save your FRC report updates

Be sure to save any changes that you want to remain in the system. The FRC application does not back up automatically. In addition, if you leave the application open for more than 60 minutes, the system will time out and you will lose any unsaved changes.

The Details

Open the Atlas Financial Review and Control (FRC) application

Open the FRC application in Atlas by selecting "Reports" from the menu, and then "FRC Monthly Review Application" in the "Finance" section. Log in to gain access to the profit centers and cost objects that you are authorized to review.

Customize your review options

When you log in to the FRC application, you’ll have two options. You can sort your data by “CO” (cost object) or by “TT” (Transaction Type). After you specify one or more profit centers, supervisors, or cost objects related to your review, choose whether to show reviewed items (choose “Yes”) or to show only unreviewed/unresolved items (choose “No) and run your report.

You also can rerun your report at any time to change your review options. The application doesn’t automatically save your work, so always save your changes before running a new report.

Complete visual and detailed reviews

The expenses displayed in your report will be color-coded according to the status of your review:

  • Green-shaded expenses have been reviewed successfully (only displayed if you select “Yes” to show reviewed items).
  • Unshaded expenses require only a visual review.
  • Yellow-shaded expenses require a detailed review.
  • Red-shaded expenses are those you have marked as “Issue Identified.” 
Comment on identified issues

You must list a reason for any expense you mark as “Issue Identified.” The FRC report window provides a drop-down “Reason” menu that lists the most common reasons. If your reason isn’t displayed, choose “Other.” The system will then activate the “Comment” field so you can provide the required explanation.

Document resolved items

Once you have resolved an issue, mark the “Resolved” column. As with expenses marked “Issue Identified,” you must select a reason and provide a comment (if applicable) when you resolve an expense.

Save your FRC report updates

Be sure to save any changes that you want to remain in the system. The FRC application does not back up automatically. In addition, if you leave the application open for more than 60 minutes, the system will time out and you will lose any unsaved changes.

Did You Know?

Use the Recommended Revenue G/Ls to identify appropriate G/L numbers for revenue transactions.
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