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Accounting Office

 


General Ledger

Department Responsbilities

  • Be aware of what funds and projects are assigned to the department
  • Review financial transactions credited and charged to department’s funds and projects
  • Become familiar with elements of the Oracle/PeopleSoft chart of accounts (described below)
  • Coding financial transactions as accurately as possible and using the Oracle/PeopleSoft systems to monitor funds and projects
  • Establish procedures to ensure a proper matching of expenses to the related revenues in funds and projects
  • Monitor general ledger funds and projects assigned to departments as follows
    • Local Fund
      • monitor balance sheet accounts for accuracy or reasonableness, and awareness of resources available and for planning purposes
      • Maintain funds so that assets meet or exceed liabilities (avoid deficit net asset balances)
      • monitor financial activity (revenue and expense accounts) for accuracy or reasonableness, and awareness and planning
    • Appropriation Funds
      • monitor financial activity (revenue and expense accounts) for accuracy or reasonableness, and for awareness and planning
      • Certain Agriculture departments using project numbers need to also monitor balance sheet accounts
      • Make sure expenses do not exceed budgets
    • Grant Funds
      • monitor financial activity (revenue and expense accounts) for accuracy or reasonableness, and awareness and planning
  • Monitor funds on a regular and timely basis so if errors exist they can be more easily corrected
  • Use the information in General Ledger to be aware of department’s available resources and as a tool for using resources for maximum effectiveness

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North Dakota State University
Phone: +1 (701) 231-7432 / Fax: (701) 231-6194
Campus address: Old Main 11
Physical/delivery address: 1340 Administration Ave., Fargo, ND 58102
Mailing address: NDSU Dept. 3100 / PO Box 6050 / Fargo, ND 58108-6050
Page manager: Accounting

Last Updated: Friday, October 12, 2012 9:04:23 AM