Fund Accounting - Information Management

The Fund Accounting System provides reports, audit trails, and displays for looking up and verifying information. The system also provides options for maintaining records on a periodic basis.

• Use the Reports menu options to verify, analyze, and report financial information:

  • Balance Sheets - Generate a balance sheet for each fund, a consolidated balance sheet, or a balance sheet combined by fund group.

  • Budget Control Reports - Monitor monthly or per-period budgets.

  • Expenditure Comparison Reports - Compare the current-year budget, expenses (with or without encumbrances), available balance, and percent of budget spent against the prior year.

  • Expenditure Status Reports - List expenditure information for the period and year specified by account, in a detail or summary format.

  • Project Status Reports - List combined expenditure and revenue data for projects in the current year.

  • Revenue Comparison Reports - Compare the current-year budget, receipts (with or without receivables), balance, and percent of budgeted revenue received against the prior year.

  • Revenue Status Reports - List revenue balances and activity during a specific period and year.

• Use the Financial Statements menu options to produce statements for auditing and analyzing transactions:

  • Financial Reports - Cash Receipts - List all transactions posted with either the Post Receipts or Batch Receipts option.

  • Encumbrance Activity Reports - Audit encumbrance transactions, either by encumbrance number or organization.

  • Encumbrance Status Reports - Audit encumbrance transactions, either by encumbrance number, organization, or cost center (organization/account).

  • Enterprise Fund Income Statement - Produce an income statement for enterprise funds.

  • Prior and Current Yr Cash Report - Compare end-of-month General Ledger cash account balances from the prior year against the current year.

  • Receivable Status Reports - Audit receivables transactions either by receivable number or receivable date.

  • Trial Balance - List account balances by fund for all asset, liability, equity, expenditure, and revenue accounts.

• Use the Financial Report option to create custom reports. You can define a report's content and calculations either from scratch or by copying and changing an existing report format.

• Use the Audit Trails menu options to verify that all transactions were processed and that each account is in balance:

  • Expenditure Audit Trail - Generate a YTD or period summary of Expenditure Ledger entries.

  • Expenditure Transaction Analysis - Generate a detailed listing of Expenditure Ledger entries.

  • General Ledger Audit Trail - Generate a year-to-date or period report of General Ledger entries.

  • GL Transaction Analysis - Generate a detailed listing of General Ledger entries.

  • Project Audit Trail - Generate a summary of Project Ledger entries.

  • Project Transaction Analysis - Generate a detailed listing of Project Ledger entries.

  • Revenue Audit Trail - Generate a year-to-date or period summary of Revenue Ledger entries.

  • Revenue Transaction Analysis - Generate a detailed listing of Revenue Ledger entries.

• Use the Detailed Displays menu options to look up and review transaction records:

  • Encumbrances - Display information from the Encumbrance Ledger, which stores purchase order transactions and encumbrance balances.

  • Transactions - Display information on the full range of transactions supported by the Fund Accounting System.

  • Vendor Transactions - Display transactions associated with a particular vendor, including payments and balances from purchase orders and invoices.

• Use the Check Ledger Balances option to verify your ledger balances. This option lists the totals from the General Ledger's control accounts and its subsidiary ledger accounts.

• Use the Periodic Processing menu options to maintain information in your database:

  • Automated Payroll Interface - Change and post batch files containing payroll expenditures and liabilities interfaced from the Human Resources System.

  • Close Purchase Orders - Close out purchase orders and liquidate any associated encumbrances.

  • Delete Inactive Vendors - Delete inactive vendors from the Vendor List.

  • Delete Prior Year Ledgers - Delete General Ledger, Expenditure Ledger, Budget Control Ledger, Revenue Ledger, and Project Ledger records for a specified year.

  • Delete Prior Year Transactions - Delete all transactions for the fiscal year selected, except uncleared checks and accounts payable records. 

  • Period End - Increment the default period by one so that you can begin recording transactions in the next period.

  • Purge Payment History - Purge payment history records created on or before a specific date.

  • Purge Vendor Check History - Purge vendor check history records created on or before a specific date.