General ledger system manual - lsu/fas - Finance and Administrative ...

Reconciling Your AccountsEvery account should be monitored monthly to insure that the entries affecting the account are recordedproperly. The unit responsible for the account must determine the legitimacy of its accounting entries andthe account balances. The process of examining for this legitimacy is referred to as "RECONCILING".Though you may choose any method of reconciling your accounts, the following procedure has beendeveloped as a guideline for your use:Sources of InformationThere are two sources of information which can be used to check the entries that affect an account:1. General Ledger System (GLS)On-line screens provide the most up-to-date information for your accounts. Detailedinstructions for viewing this information are found on page 5 of the "INQUIRING" sectionof the GLS manual.2. LedgersMonthly ledgers are printed and distributed to all accounting units. Detailed instructions forinterpreting the ledgers are found in the Ledger section of the GLS manual. A monthlyledger contains the following sections of information:a. Subsidiary Summary Ledger -- provides totals for budget, revenues,expenditures, encumbrances, account balances, tentative transactions, andtentative balances as of the end of a month.b. Subsidiary Detail Ledger -- provides detail of all current entries affectingan account for the reporting month.c. Tentative Subsidiary Detail Ledger -- provides detail of all non-currententries affecting an account for the reporting month.d. Outstanding Encumbrances Summary Ledger -- provides detail of allencumbrance activity and balances as of the end of a month.RECONCILING Rev 06/93156RETENTION