The Accounting/Finance Department utilizes Banner Finance software to manage, track, and process financial data. The software integrates accounting, purchasing, grants, human resources, payroll, fixed assets, and budget.
The Banner Finance system contains two ledgers:
The General Ledger (GL) is the university's system of record for all financial transactions. It is used to create the balance sheet and will show the current assets, liabilities, control accounts, and fund balances at a particular point in time.
Use FGITBSR in Banner to obtain General Ledger information
The Operating Ledger is used to record the year-to-date activity of the university. It creates the income statement and displays the revenue, expenses, encumbrances, transfers, and budget activity of a fund.
Use FGIBDST in Banner to obtain Operating Ledger information
The Chart of Accounts (COA) is the complete listing of every account in an accounting system. The (COA) is the coding structure within Banner that serves as the foundation for the (GL) and financial reporting.
The coding structure consists of six elements Fund, Organization, Account, Program, Activity, and Location.
| Index | Used to tie the coding elements Fund, Organization, Account, and Program together. |
| Fund | Identifies the source of the funding. |
| Organization | Identifies the department responsible for managing the funds. |
| Account | Describes the revenue or expense activity taking place in a transaction. |
| Program | Identifies the category the funding is used for (Ex: Instruction, Academic Support, Student Services, Institutional Support, Research, Physical Plant, Auxiliary, etc.) |
| Activity and Location | Both optional elements and only used by specific departments. |
The basis of accounting determines when revenue and expenditures/expenses are recognized in the accounts reported in the financial statements. Under the accrual basis of accounting revenues are recognized when earned and expenses are recognized at the time the liabilities are incurred.