Form general ledger transactions
You can access the most current general ledger information that is available in your system by using online inquiry programs. In general, online inquiries use information from the F and F tables. Trial Balance and Account Balance inquiries use information from the F table and Account Ledger inquiries information from the F table. When form general ledger transactions information for online inquiries, the system uses these two automatic accounting instructions AAIs to determine income statement accounts:.
These AAI accounts are also used to retrieve the cumulative balance for a trial balance report or inquiry. For each online inquiry, you can summarize accounting information at different levels of detail, depending on your needs. Statutory inquiry programs provide information used for government reporting.
To review statutory information, you can use these online inquiry programs: To review trial balances for accounts quickly and in a variety of sequences, use the trial balance inquiry programs. These inquiry programs display summarized information from the F table and provide access to more detailed information. The inquiry program that you choose depends on how you want to review the account and what information you want to see.
This table describes the trial balance inquiry programs: All four programs have a processing option that enables you to review account balances as of a specific date, instead of viewing balances only as of the ending date for a period. If you do not specify a date for the review, the programs identify the current open period for the company in the Company Constants table Form general ledger transactions and use the period-ending date for that period as recorded in the Date Fiscal Patterns table F The cumulative balance for balance sheet accounts includes the cumulative balance forward for the prior year.
The cumulative balance for income statement accounts does not include this amount. You might need to review detailed transactions and balances for your accounts in different formats and sequences. The online ledger and balance inquiry programs provide information for specific accounts.
These programs access either the F table, which contains detailed transactions or the F table, which contains posted balances, or both of these tables. The inquiry program that you choose depends on what you want to review and how form general ledger transactions want to see information displayed. This table describes the account ledger and account balance inquiry form general ledger transactions.
You might also need to analyze account balances between two different ledgers. This is especially helpful when comparing budget amounts to actual amounts or when analyzing budget variances. You control the level of detail in which to review information. You can compare ledger types from different fiscal years or form general ledger transactions general ledger dates.
You can define the type of format that form general ledger transactions use to view your account balances by rearranging the columns in the detail area. Using processing options, you define how the program calculates the balances and variances. The system calculates the variance using the ledger form general ledger transactions and calculation method that you specify in the processing options.
If you change the ledger types or calculation method, form general ledger transactions variance form general ledger transactions changes. Processing options enable you to specify the default processing for programs and reports. Specify the default ledger for the first ledger type. If you leave this processing option blank, the system uses ledger type BA. Specify the default ledger for the second ledger type.
If you leave this processing option form general ledger transactions, the system uses ledger type AA. This processing option applies only to posting accounts. Non-posting header accounts appear on the inquiry form. Specify an additional ledger type to use when retrieving account balances for ledger type 1 and ledger type 2. If you leave these processing options blank, the system does not use additional ledger types to retrieve balances for these ledger types.
Specify the subledger to use for retrieving account balances. If you leave this processing option blank, the system selects transactions without subledgers. If you leave this processing option blank, the system uses blank for the subledger type. Specify the account form general ledger transactions of detail to use 3 — 9. If you leave this processing option blank, the system uses 9.
Specify the currency code to use for retrieving account balances. If you leave this processing option form general ledger transactions, the system uses all currency codes. Enter an account number to review account balances for a specific account or enter a business unit number to review account form general ledger transactions for all accounts form general ledger transactions a business unit. If you leave this field blank, the system displays only posted amounts without subledgers. Change the values in these fields, if necessary.
You must set the Date Effective Balances processing option for this program to Y to review account balances through a specific date. Selections from the Row menu enable you to access these forms:. This section provides an overview of trial balance review and discusses how to: Use the Trial Balance by Object Account program P to review account balances across all business units.
You can also review balances form general ledger transactions two ledger types at the same time, which enables you to review actual amounts and currency or budget amounts side by side and so on. You can review balances for one ledger type only. The system only allows you to use a period-end date in the Thru Date field. The system retrieves totals from the F table. The system allows you to enter any valid date within a period in the Thru Date field and the totals are calculated up to that date.
The system calculates totals using the F table instead of the F table. For programs with two ledger types, such as Account Ledger Inquiry Pledger type 1 is always be the same as ledger type 1 of the originating program, and ledger type 2 is blank. Specify whether to display only posting accounts or both posting and non-posting accounts.
See Reviewing Balances and Transactions. To specify a through date, enter the date in this field. If you leave this field blank, the system uses the ending date of the current period for the company. You can access several other programs form general ledger transactions within the Trial Balance by Object Account program.
The fields that appear on this form are similar to those on the Trial Balance by Object Account form. See Reviewing Balances by Object Account. This section provides an overview of account ledger inquiry, account ledger by object account, and account ledger by category code, lists a prerequisite, and discusses how to:.
Use form general ledger transactions Account Ledger Inquiry program P to review detailed transactions for an form general ledger transactions by date range, subledger, and ledger type. The system displays both posted and unposted transactions from the F table and provides a ledger total posted and unposted amounts and an unposted total.
The difference between these totals is the posted total. The year-to-date period amount equals the posted ledger total if your date selection meets this criteria:. The year-to-date and cumulative-period amounts might not equal the posted ledger total if you cross over a fiscal year or if you display only part of the current fiscal year.
If you are reviewing an income statement account, the year-to-date and cumulative period amounts are equal. The cumulative period amount does not appear for an income statement account. If you set the Second Ledger processing option accordingly, you can review amounts for two ledger types, such as actual and currency form general ledger transactions ledgers, at the same time.
A second ledger type is especially beneficial in multicurrency environments because you can see transactions for foreign and domestic currencies at the same time. Use the Inquiry Only processing option when you need to form general ledger transactions review a voucher or payment without reopening the batch Release 9. Use the Account Inquiry by Object Account program P to review detailed transactions for an object account across all business units.
The system displays both posted and unposted transactions from the F table. To limit your search for transactions to review, you can use the same criteria that is available in the Account Ledger Inquiry program P If you set the Second Ledger processing option accordingly, you can review amounts for two ledger types, such as actual form general ledger transactions budget ledgers, at the same time. Use the Account Inquiry by Category Code program P to review detailed transactions for any of the category form general ledger transactions that are set up for an alternate statutory chart of accounts.
You specify the category code 21, 22, or 23 in the Category Code processing option for this program. To limit your search, you can use the same criteria that is available in the Account Ledger Inquiry program.
To review the source information for a transaction in ledger type 2, select the transaction and then select Original Entry LT 2 from the Row menu. Depending on the original transaction, the system accesses various forms. For example, if the original transaction is a journal entry, the system accesses the Journal Entry form or if the original transaction is an accounts receivable invoice, form general ledger transactions system accesses the Standard Invoice Entry form.
To print the account ledger for an account, select the account and then select Print Ledger from the Row menu. These processing options specify the default values that the system uses on the Work with Account Ledger form. For each processing option, specify the default value for the system to display in the corresponding fields on the inquiry form.
Specify the date the system should use on the inquiry form if the From Date field is left blank. Use the beginning date of the current fiscal year as the from date. Use the beginning date of the current period as the from date. Specify whether to display a second ledger type, which enables you to view two ledger types at one time. The system uses ledger type 1 as the basis for determining the amount for ledger type 2; therefore, the system displays only records with ledger type 1 amounts on the inquiry form.
For example, if you enter Form general ledger transactions for ledger type 1 and CA for ledger type 2, the system displays all records with AA ledger type amounts in the F table F and any matching records with a CA ledger type.
The matching records must have the same document number, document type, document company, general ledger form general ledger transactions, and journal entry line number. If the system does not find AA ledger type amounts form general ledger transactions an account, there is no corresponding CA ledger type amounts. Specify the ledger type to display in the Ledger Type 2 field.
It is the responsibility of each department to ensure that financial transactions recorded in the general ledger are in accordance with all relevant policies, regulations, and sponsor or donor terms and conditions. This is accomplished through the combination of following campus-wide policies and procedures for financial transactions preventative controls and GL verification a detective control.
The GL verification process must be completed in a timely manner: For example, the verification process for transactions recorded during the month of August must be complete by October 5 30 days after the month of August was closed in the GL. Form general ledger transactions the General Ledger Verification Checklist and Acknowledgement form to record the attestation by the department Reconciler and Reviewer, and refer to the Paper-Based General Ledger Verification Procedures for detailed step-by-step instructions on how to perform the paper-based verification.
Campus departments should start transitioning from their current paper-based GLV process to the new online tool beginning in Form general ledger transactions with April data. Campus departments do not need to form general ledger transactions their paper logs for months when GLV activities are conducted using the online tool. The online tool streamlines the GLV process with the goal of ensuring overall reasonableness of department financials. The tool uses a risk and sampling approach rather than a full reconciliation.
There are two department roles in the GL Verification Tool: The Verifier role is not limited to specific Dept IDs. Contact your department Access Administrator to request access for new users, change user roles, or deactivate users from the GL Verification Tool. Paper-based procedure transition to new GL Verification online tool beginning May GL verification consists of the following activities: Examining detailed transactions in the GL to ensure transactions are expected to appear.
Look for any suspicious transactions or abrupt changes from an established trend. Any errors that are identified, including transactions that contain incorrect or inappropriate chartfields must be corrected.
This activity is at a summarized level compared to the detailed transaction reconciliation discussed above. It is expected that someone familiar with the financial activities of the Department performs the ledger review, such as the Business Officer.
Attestation by the Reconciler and Reviewer that they reviewed the financial information, corrected errors, and form general ledger transactions provide reasonable assurance of the validity of the information.
GL Verification needs to be acknowledged by an MSO, Department Head or designee for non-sponsored funds and the Principal Investigator PI or designee for sponsored funds; if the Review has not been completed by one of these individuals, then a third acknowledgement on the checklist is needed. Process Overview GL Verification Tool systematically identifies transaction lines to be verified and monthly trend information for review Verifiers job aid conduct review of identified transaction lines and trends.
May add comments or documentation as desired. Changes status from "Not Verified" to "Complete" or "Pending" as appropriate. May conduct monthly trend analysis job aid depending form general ledger transactions departmental practice: Approvers job aid determine and acknowledge whether verification has form general ledger transactions completed for their Dept IDs. Acknowledge GL verification is complete by clicking the Approved button.
The GL Verification Dashboard displays the status of GLV activities for the selected Dept ID to support monitoring and compliance by tool users, department and school form general ledger transactions managers, and central units. Policies General Ledger Verification