Account Reconciliation and Review

Departmental Ledger Module Training

Statement of Accounts and Reconciliation

Account Reconciliation and Review

To post (reconcile) paid bills to the ledger using LP6:

1. Review bill to ensure it has correct object code, appropriate documentation (bill amount matches payment, payee, etc).  Ensure that bill has a stamp of date received and a stamp noting materials/goods received.

2. Use define to look up documents.

   1. Define: Go to LP6:  Enter account number to look up unposted documents.  Find the one that matches bill. Enter an "e" to post it, after first checking for correct coding and object codes. 

3. Stamp the voucher as "posted" with your initials and date.  File in the accounting file cabinet for that year by account number. 

Open

To look at posted documents, use LR7. 

To look at unposted (unreconciled) documents, use LR3. 

To see how many unreconciled items there are for the iSchool, run LR2 leaving "account" field blank to see all accounts. 

To make a correction, such as adding fields (define codes) 3, 4, or 5 when they were left missing:

1. Use LT6 in define. Enter the account number and in "misc" enter the voucher number". Hit enter.

2. Enter a "u" for update next to the item when it shows up.

3. Add changes/codes where needed.  Hit "u" again. This updates the entry. 

4. Hit "clear" to leave the screen.
   
   

Various bills and charges: 

Annual Charges:

• Austin Disk - post with Financial Manager's ok

  • Adobe Connect - post with Financial Manager's ok

  • Annual Salary/wage encumbrances and fringes, annual budget entries and corrections - Financial Manager will handle annual entries, ok to post monthly entries. 
    
    

Other routine charges:

• PP FMS (Physical Plant): 

  • If you have the invoice, post as above. 

  • If you do not have the invoice, go to WORQs to look up any physical plant charges for which you are missing the invoice. 

    • Print found invoices.  

    • Verify services were provided and document on invoice. Post, stamp and file invoice. 

  • Background checks for new staff and workers: 

    • Using their EID, go to AL2 in Define to look up and ensure it is a person appointed as an employee in the iSchool. If so, approve the charges. 

    • When in doubt, ask Sr HR Coordinator. 

  • Paper and printing: watch for receipt from University solutions to reconcile. For business cards, if no receipt, ask Financial Manager if order was approved.

  • Semi-monthly wages, monthly paychecks, and fringes:  ok to post as the initial appointments have been approved by Financial Manager. 

  • Travel encumbrances:  hold to compare to actual travel charges, be they airfare or reimbursement. Typical encumbrance is $1. 

    •  May be matched up using the TV number to disencumber the $1 or other encumbered amount when the travel is completed and paid. 

  • Avis Car rental: check against travel voucher number to verify travel occurred or verify with Travel Manager.

    • Centrally billed airfare - Financial Manager will provide a report to which you can compare charges using the travel voucher number (starts with a TV) or the document ID number. 

    • Auto-disencumbrances - happen after 60 days have passed since travel date with no activity. Look at original travel date, post accordingly based on travel activity or lack thereof. Use VE5 and enter the TV number in "misc" to check for any document activity. 

    • Maintain spreadsheet of centrally-billed airfare as provided by Financial Manager.

  • Rally - Financial Manager will provide a report for reconciliation or will handle. Coding is "admin", "donate", "donation". For fees related to rally, coding is admin, ccfee, donation. 

  • Contract overhead - Financial Manager will handle.

  • Donations:  Use the "gifts" section of this wiki to review instructions for running this report and posting donations. 

  • Today's Business Solutions, SHI/Government Solutions, CDW Government Inc - Aaron Ulmer will provide receipts once received. These are encumbered items so the encumberance, disencumbrance, and charges must all be posted when the items are received and the receipts/invoices are provided. Sometimes partial deliveries are made and Aaron will hold the paperwork until the order is complete. Confirm stamp of "goods/services received" is present on paperwork.  

  • Procards - Financial Manager will provide the complete procard bill once it has been made.  
    
    

Upon completion of reconciling a month: 

1. Confirm reconciliation with Financial Manager.  

2. Once okay'ed, use LR5 to print a coversheet for that month's Reconciliation report. 

3. Notify Financial Manager so he can print the report and close out the month. 

4. Pick up cover-sheet and reports from Document Solutions at the School of Social Work building. Shelf is 850.

5. Print signature lines on coversheet using template on file. Give to Financial Manager.