BTFA03 - Controller`s Office

The Florida State University Controller’s Office Presents:
General Ledger Reconciliation
Ledger Reconciliation Objectives / Guidelines
Departmental Ledger Reports
High Level Analysis
Source Documents and Corrections
Reconciling Encumbrances
Reconciliation Objectives
Verify the accuracy of the General Ledger
Ensure sound financial management of University resources
Provide management, auditors, and other users with reliable
financial information.
2007-2008 Controller’s Memoranda #02 - Ledger Reconciliation
Reconciliations help to ensure proper internal controls and
detect/prevent fraud
• This is a critical departmental function
• The Departmental Business Management Guide on the
Controller’s website contains detailed information on internal
Reconciliation Guidelines
What should be reviewed?
Obtain departmental ledger reports
Trace to supporting documentation
• Dollar Amount
• Account Code charged
• Budget charged
• Allowable expenditure
Reconciliation Guidelines
What are the final steps?
Correcting Journal Entries
Finalized recon MUST include:
• GL Balance information
• Name of preparer
• Date prepared
• Name/signature & date of reviewer
• Reconciling items and notes on their resolution
• Adequate supporting documentation of all transactions
Reconciliation Guidelines
Who can perform/review?
• It is critical that proper segregation of duties is maintained
• The Budget Manager/designee should perform the
• Employees who originate and/or authorize transactions being
reconciled SHOULD NOT perform or review/sign off on the
• Preferably, review/sign off should be done by someone at the
supervisor/management level
Reconciliation Guidelines
When is it due?
• Completed, reviewed and signed off by end of the 2nd
succeeding month
• Reconciling items resolved by the end of the 3rd succeeding
Retain Reconciliations 5 years
Departmental Ledgers –
OMNI Monthly Ledgers
Official University Ledgers
OMNI Financials > Reporting Tools > Report Search Page
Reports available:
• Department Ledger Summary
• Detailed Reports (Expense, Revenue, Cash, Encumbrance,
See BTFA02 materials for additional information
Departmental Ledgers –
OBI Reporting Financial Reports
• Data Warehouse accessed via OMNI Portal Page
• Reports Available:
• Summary and Detail Ledgers
• Equivalent of OMNI ledgers
• Transaction Details
• Expense, Encumbrance, Cash, Revenue, Liabilities and Other Assets
transaction-level detail available
• Downloadable to Excel
• Trend Ledgers
• Year-by-Year
• Month-by-Month
Departmental Ledgers OBI Reporting Financial Reports
• Timing of reports
• Data normally one day old
• Recommended that reports be run after OMNI Ledgers
become available
• This helps to ensure data in OBI is final
• Job Aids available
High Level Analysis
Review OMNI Summary Ledgers for:
• Positive/sufficient cash balances (Auxiliaries)
• Positive/sufficient available balances (E&G, Carryforward)
• Changes in OCO
• Any liabilities that did not clear from the previous month
Tie OBI Reports to OMNI Summary Ledgers
Month-by-Month Trend Ledger
• Useful tool for identifying charges out of line with the “norm”
• Pay special attention to abnormally high expenses and low revenues
Expense and Revenue Source
Must support all transactional information on the departmental
Most detailed work relates to Expenses
Revenue source documents will vary widely
Expense Source Documents
Payroll Charges
Verification of Payroll/OPS charges is somewhat cumbersome
Use of the OBI HR-GL Detail report is recommended
• FSU_PY_FI_REP_INQUIRY security role may be needed
• Ensure your report matches total ‘PAY’ journals
• Compare to signed Payroll Certification report (Cost Center)
• Only verifying employees (not amounts)
Expense Source Documents
Accounts Payable Charges
‘AP’ Journals
Non-PCard backup available in OMNI via Document Management
OMNI navigation
• Accounts Payable > Vouchers > Add/Update > Regular Entry >
Find an Existing Value > Related Content
Lookup backup invoices, POs, etc. by the Voucher #
Additional Document Management information available on
Payables & Disbursement Services website
Expense Source Documents
Purchasing Card Charges
‘AP’ Journals to FIA CARD SERVICES Vendor
Older reconciliations available in Document Management
Work with proxies to obtain most recent completed reconciliation
Expense Source Documents
Facilities Charges
Vendor = Facilities
Detailed backup available in BlackBoard
• FACILITIES organization (ADM 13122 ORG)
• Contact Debra West ([email protected]) to obtain access
Monthly file includes all University departments
• Via ‘Department Charges’ link
• Be sure to just print your department’s pages
Expense Source Documents
Postage Charges
‘PST’ journals
Postal Services website -
SLIPS link
• Pull up detail of charge slips entered by your department for a
date range
• Match Order ID to JRNL LN REF field on Ledger
• UPS Charges
Expense Source Documents
Travel & Expense Charges
‘EX’ journals
OMNI Navigation – Travel and Expenses > Travel and Expense
Search by Expense Report ID
Expense Source Documents
Online Journal Entry Charges
Backup available in OMNI via Journal Attachment feature
• General Ledger > Journals >Journal Entry > Create/Update
Journal Entries
Variety of Journal Sources
• Copy Equipment Charges from Business Services (‘BUS’)
• Background Checks processed by Human Resources (‘HR’)
• JRNL LN REF field contains date request processed
• This date should also appear on backup in OMNI
• Other online journals will normally begin with ‘0000’.
Expense Source Documents
Network & Communications Charges
‘TEL’ journals
Access to invoices at
• Budget Manager must submit a request to ITS for this access
• See ITS FAQ for more information at
Monthly email from [email protected] when invoices are available
Revenue Source Documents
Will vary widely from department to department
Source Documents include:
• Revenue Deposit forms (DT118)
• Revenue-to-Revenue Transfer forms
• Departmental Refund Forms
• Bank Deposit Slips
• SFS Cashier Receipts
• Returned Checks
Most backup will not be in OMNI; necessary to work with
appropriate staff in your department
Expenditure Transfer Journal Entry Form
• Consult the Expense Account Lists when determining proper
• Signed form should be emailed to General Accounting
Revenue to Revenue Transfer Form / Student Financial Services
(SFS) OMNI Correction Form
• Be sure to use if correction effects revenue account(s)
• Instructions for forms are available
Reconciling Encumbrances
Encumbrance – An allocation or reservation of funds for a particular
expenditure in the future
Encumbrances are established by:
• Travel Authorizations
• Purchase Orders
• Payroll Charges
Track Encumbrances to make sure they are closed when final payment
is made
• Research encumbrances older than 90 days
• POs: Purchasing > Purchase Orders > Review PO Information > Purchase Orders
• T-Auths: Travel and Expenses > Travel and Expense Center > Travel Authorization > View
Reconciling Encumbrances
• Why would a Purchase Order no longer be needed?
• Vendor could not provide product/service
• Item paid for with PCard or via unencumbered payment
• Item not needed after all
• Cancelling a Purchase Order
• Issue a Change Order
• Form available on Purchasing Website
• Detailed instructions also available on how to use this form
Reconciling Encumbrances
• Why would a Travel Authorization no longer be needed?
• Travel did not occur
• Travel paid from different source
• Expense Report not created by starting from a T-Auth, so
encumbrance not cleared when ER processed
• Cancelling a Travel Authorization
• Cancellation done in OMNI Travel and Expense center
• Travel Rep will likely need to process
Contact Information
Lauren Barrett– Quality Assurance
• [email protected]
• 645-8611
Slides available at:

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