Account Reconciliation
- About Account Reconciliation
As of June 2020, the Handbook of Business Procedures, Chapter 2.5 outlines that all accounts must be reconciled on a monthly basis. While account reconciliation has been around for a long time, what's newer is having an articulated policy that mandates it being done within a specific, regularly occuring timeframe - in addition to the annual certifying of accounts process that we undertake at the close of each fiscal year.
- Reconciling is when a dept/unit level administrative staff member uses *Define or FRMS to go through each month of expenses currently showing unreconciled transactions (on the departmental ledger) and confirm their accuracy and allocability
- Make sure you are clear about your responsibilities for account reconciliation.
- Reconciling is when a dept/unit level administrative staff member uses *Define or FRMS to go through each month of expenses currently showing unreconciled transactions (on the departmental ledger) and confirm their accuracy and allocability
- Methods of Reconciliation
Coming soon
- Reconciliation Instructions
Coming soon
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