Reconciliation Process
*Course offered by Financial Training and Documentation, Office of the Controller.
Course Description:
The integrity of a financial system is dependent on the controls or checks and balances built in to its processes. One important control is reconciliation: comparing two sets of financial records that should match and resolving any discrepancies.
Reconciliation is a required fiscal procedure at OSU and is a departmental, not a central, responsibility. This course presents the reconciliation process and shows how to reconcile departmental records to reports from the central accounting system or General Ledger.
The following topics are covered:
- The importance of the reconciliation procedure.
- The reports and other tools the University provides.
- Fund Exception report.
- Appearance of individual transactions on the detail General Ledger reports.
- Subsystem reports (Human Resource reports, Stores reports, etc.).
- Correcting entries to streamline the reconciliation procedure.
Various charts and job aids are provided.
Prerequisites:
Debits and Credits, Accounting at OSU and Using General Ledger Reports.
Course Length:
Two six-and-a-half hour sessions, usually on consecutive days. The class is instructor-led, presented in a classroom setting.
Audience:
Anyone responsible for reconciling their department's records to the General Ledger.
