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Section 1: Internal Control

Reconciliation of Student Financial Data

Effective Date:

09/01/10

Approved By:

Lenora Chapman, Associate Vice President, Financial Affairs

Last Revised On:

06/21/11

For Assistance Contact:

Student Information Systems Accounting Manager (210)458-4207

PURPOSE/SCOPE

This guideline describes the process for assuring financial data from Banner Student is fed correctly to the financial accounting system.

AUTHORITY

Effective management of reconciliation activities greatly increases UTSA’s ability to proactively identify and resolve issues that could result in misstatements in financial accounting and reporting records. Timely, accurate account reconciliation is a critical internal control practice.


UNIVERSITY GUIDELINES

Table of Contents

A. Background

Detailed financial records and transactions for all tuition and fee revenue charged to students and others are originated in the Banner Student Administration system. This data must be exported to the financial accounting system known as DEFINE, to record the revenue in general and sub-ledger accounts. An interface was created to take the detailed data from Banner and upload it daily to DEFINE.

B. Reconciliation

For purposes of this guideline, reconciliation assures the total revenues from Banner equal the total revenues posted to DEFINE. An account is considered reconciled when differences have been investigated, proper accounting treatment ascertained, and correcting journal entries (if any) are posted to the general ledger or sub-ledger. UTSA must reconcile all accounts that could contain a significant or material misstatement and post all necessary adjustments to the general ledger in a timely manner.

C. Reconciliation Process and Responsibilities

To ensure all Banner activity correctly feeds to DEFINE, both a daily transaction-level and a monthly sub-ledger level reconciliation is performed.

The daily reconciliation is performed by the Associate Bursar culminating in the approval of the daily Cash Receipts Voucher (CRV). This document includes all daily activity processed by Fiscal Services, any feeds from outsides sources, such as electronic check and credit card payments, and associated changes in receivables and revenue accounts. Banner reports are created which list daily transaction level detail and are used to verify proper feed of data into DEFINE. Cash postings must balance to the daily master balance sheet prepared by Fiscal Services, which includes student payments accepted by each cashier, departmental deposits and all electronic payments. Final approval of this document in Accounting Services offers a secondary reconciliation of the cash totals reported.

The monthly reconciliation includes a review of all statutory tuition accounts, ten mandatory fee accounts, tuition exemption accounts, as well as all accounts receivable and undistributed receipts accounts.

Reconciliation reports (Appworx) created by the Office of Information Technology programming staff are run monthly by Financial Affairs staff and include separate reports detailing Banner activity for tuition detail codes, fee codes, summary accounts receivable, and summary undistributed receipts. These reports are reviewed to verify that all revenue and associated receivables generated from Banner registration and payment activity is properly recorded in DEFINE. The reconciliations are performed by the Financial Affairs Coordinator and reviewed by the SIS Financial Accounting Manager. Any discrepancies found are corrected on a journal voucher and forwarded to the Director of Financial Services and UTSA Bursar for review and approval. Monthly reconciliation folders are maintained in the Financial Affairs Office.


DEFINITIONS

None at this time.

REFERENCES/LINKS

None at this time.

RELATED FORMS/WORKSHEETS

None at this time.


REVISION HISTORY

Date

Description

06/21/11

Revised Section title, Guideline title and Section B. Reconciliation.

09/22/10

Published guideline.


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