The Preparer is the person responsible for the detailed reconciliation, including maintenance of source documents to verify all transactions are legitimate. This role is known as the “Fiscal Contact” in the Integrated System and is a required role in the Recon@UVA system.
All preparers must attend the Reconciling Expenditures in Recon@UVA training class. An online System Simulation Training is also available but this does not substitute for the required training.
For each Project-Award combination, gather supporting documentation for all transactions from the previous month.
Log on to Recon@UVA.
Review all charges for accuracy, and ensure supporting documentation is adequate.
Flag issues and record comments as appropriate.
Update reconciling items as appropriate.
When the review is complete, send the reconciliation forward. This step records the Preparer’s signature and date.
- Follow up on any transactions that remain outstanding for more than one accounting period
Note: When reconciling Human Subject Payments on sponsored projects, check with your Clinical Research Group in order to obtain the information redacted in financial systems.
The Preparer should resolve as many accounting errors as possible. Any questions about the appropriateness of particular charges should be brought to the immediate attention of the Approver for clarification and/or correction. Cost transfers should be initiated as soon as the error is identified. Preparers should verify that the expenditure type charged is appropriate and accurately reflects the item or service that is identified in the supporting documentation.
Supporting must be filed in such a manner that allows the documents to be readily retrieved and presented when requested for audit review (i.e., by Project-Award combination).
This documentation must be retained by the department in accordance with guidelines specified by the University Records Management Office to satisfy University, state, and federal audit requirements, as well as state and federal records retention requirements. See Policy IRM-017:Records Management for more information.