This process covers the reconciliation of those general ledger balance sheet accounts having account detail independent of the general ledger database.
This technique does not cover the activities related with the reconciliation of the following:
Each balance sheet account is reconciled each period having account source documentation independent of the general ledger database is reconciled to that source not having account source documentation independent of the general ledger database is reconciled through confirming that the account balance is exact, based on the superlative obtainable info
Bank account reconciliations
All bank account is related with a single general ledger object code.
Accounts recorded as other receivables not supported by an invoice should be supported through a legal document, such as a note or contract.
The GL Accounting Manager is responsible for
The Director of Accounting Services is accountable for confirming that this document is essential, imitates actual practice, and supports University policy.
This activity is executed each month after the close of the general ledger.
The accounts covered through this activity are those having account detail independent of the general ledger database. The reconciliation of balance sheet accounts is planned towards confirm that
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Consistent Data Source – Reconciliationaccounting business give you consist and precise data which can be easily used for the benefits of the decision-making desires. This in turn guarantees competence in workflow and there is no expenditure of time.
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