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General
Ledger
The
general ledger is the repository of all financial transactions for the
University. In the new Oracle environment, the general ledger account
structure will facilitate the collection, management, and analysis of
financial information.
Key functionality provided by a fully integrated general ledger includes
a streamlined data entry and reporting model. This model will allow users
a simple means of entering, researching, and reporting on financial activity
across applications, using robust reporting tools.
New
General Ledger Account Structure
Segment Desriptions
The
following descriptions represent our current expectations of the new general
ledger account structure. These segment descriptions could change following
testing of the applications. Exact placement of codes such as those for
the state and for financial reporting has not yet been determined.
Entity - A required balancing segment for the institution, housing
total debits and credits
Project
• Activity or event with a single purpose that may
be executed over a specified period of time (e.g., a
conference, a research project, a course, departmental
operations, etc.)
• Specific funding sources (designated by
the Award/s in the PTAEO)
• Predetermined budget
• May cross fiscal years
• Not an organization or an employee
Fund and Source - Two required financial reporting attributes
Object Code
• Used to categorize the type of expenditure, revenue,
or balance sheet transaction (salaries, wages, supplies,
tuition, receivables, etc.)
• Will try to standardize on state codes to the extent
practical
Organization
• Unit to which transactions are recorded
• Maintains an identified group of employees
• Ongoing business function engaged in one or more of
the University's activities and missions
• May have assigned space
• An established budget
• Fiscal oversight by a designated individual
• Part of UVa reporting structure (i.e. hierarchy of parent/child
relationships)
Future - A segment held for future use
Sample
Entry
(print
for better legibility)
Mapping General Ledger to the PTAEO
(print
for better legibility)
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