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Account Reconciliations

Financial Reporting & Analysis

Reconciling Your Account

Provided below are best practice suggestions to help guide you through a monthly financial reconciliation and review process required by UPPS No. 03.01.09 Fiscal Responsibilities of Account Managers at Texas State. No prescriptive format for the reconciliation is provided because each department’s activity will be unique and depend on available funding sources.

The basic premise of a reconciliation is to match transaction data in the financial system to the source documents to ensure the system record is accurate, complete, and in compliance with university polices and other applicable laws or regulations.

Typically, there will be a preparer and reviewer of the reconciliation comprised of two individuals responsible for separate parts of the task, similar to how purchasing roles are segregated.

Follow these steps at month-end, or on demand, to perform the reconciliation and review:

  1. Compile receipts and invoices (source documents) for known activity during the applicable period
  2. Run the All Postings Report (review procedures on the Budget Office How To & Reference Documents page) or Reconciliation Report for Operating Expenses for the same time frame
  3. Compare source documents to the report(s), noting any inaccuracies, discrepancies, or errors which need additional research or correction
  4. Document your reconciliation and retain the record in accordance with the University Records Retention Schedule
  5. Complete research and make corrections via e-IDT in accordance with e-IDT Procedures. Visit the Financial Reporting & Analysis Forms & Resources page to review the e-IDT procedures.

The same steps should be applied to personnel cost by running the salary related reports to confirm only eligible employees are being paid.

To identify accounts associated with your unit, look them up in the Chart of Accounts. Procedures are located on the Budget Office How To & Reference Documents page, which also includes assistance documents and procedures for other helpful queries and reports.

Account Reconciliation Certification

Use the below template to certify your monthly account reconciliations.

Helpful Hints

Review the below aid for account reconciliation hints and suggestions.

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