GL Reconciliation Procedure

Procedure: 

Policy:

Purpose: 

Units must reconcile their Revenue Projects and Expenditure Projects no later than 30 calendar days after the end of the month.

The GL procedure provides guidance for the review and certification of transactions processed against revenue and clearing projects administered through the Integrated System General Ledger module (GL).

The purpose of the monthly review is to identify and correct mistakes in a timely manner. Any unusual transactions should be reported promptly to the appropriate dean, department head, or central financial office.

Additionally, departments are required to monitor revenue project balances to ensure that the cash balance is zero or greater before commitments. Without prior authorization, a deficit cash balance in a revenue project or parent is expressly prohibited.

Note: This procedure excludes the monthly review of Project and Award expenditures (See GA Reconciliation Procedure).