Reading the Account Reconciliations - Vendor Detail

Intended audience: 
All users

As stated in UK’s Business Procedures Manual all departments are required monthly to verify financial transactions that ensures the accuracy and integrity of financial reporting records and protects University assets, serving as a key element of the University’s system of internal controls (E-17-6). The vendor detail will contain transactions that are not salary or benefits, such as, purchasing, travel, visiting speakers, JVs, etc. There is one tab for this report that will be updated monthly putting the most recent transactions on the bottom. The name of the tab will be updated to reflect the months/periods included. Occassionally you may see some lines colored in red. This is to note to ASBC and the department that a correction or question needs to occur on that transaction line which will be corrected by ASBC. 

1. Step 1
Log in to Share Point portal (College of Arts and Sciences website under Resources)
2. Step 2
Open the Chair Reports folder located in your department's main folder
3. Step 3
Open the Account Reconciliations folder
4. Step 4
Open the Vendor Detail
5. Step 5
The first six columns (A-F) on the account reconciliation spreadsheet will provide department and account information: department number, department name, cost center number, cost center name, grant number, and grant name.
6. Step 6
The next six columns (G-L) will provide information which is specific to that transactions: G/L Account and Description, SAP document and reference numbers, item text, and assignment number. This information is generated based on the procurement method/type and will differ accordingly. The G/L account number is also shown in other reports as a way to categorize each transaction.
7. Step 7
The next five columns (M-Q) will also provide information related to that transaction. Columns M and N let you know what period the charge posted and the exact posting date. Column O should provide some identifying information (name, triage number, account number, etc.). Column P will list out a SIO, if one is needed, for any allocation which is being tracked. Column Q lists the transaction amount.
8. Step 8
The last five columns on the vendor detail will show the reconciliation steps which will be completed by an ASBC staff member as noted in the BPM policy. This information includes date reconcilied, initials of the reconciler, source (triage ticket number or document source), faculty, department, or other allocation, and if a JV needs to occur to correct something on that charge.
9. Step 9
In this report you have the option to filter by any column of your choosing. This is a way to help sort out information you are wanting to see. Some of the most popular ways to filter could be my account number, account name, SIO, source, faculty name, or general ledger number.
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