As mentioned in last week’s tip on reconciling financial activities, units are expected to regularly monitor and reconcile their financial activity within Banner. This ensures accurate financial reporting for the University of Illinois System’s audited financial statements and helps safeguard system resources.
To assist with these reconciliation efforts, we have complied the following list of resources and job aids for your convenience:
- The FY26 Month-End Closing Schedule provides the closing date for each period/month, which is the final date that you can use to backdate a transaction (such as a journal voucher) to the prior month.
- This webpage also provides the date that the related financial reports (such as My-UI-Financials) will be available for that period/month.
- The Reconciliation Reports webpage provides several reports that may be helpful during your monthly reconciliation process.
- For example, the Misclassified FOAPAL Report provides a list of operating ledger (OL) balances which may be misclassified transactions (such as a transaction posting to a gift fund with an organization and/or program code that differs from the default organization and/or program code assigned in Banner).
- The Finding Your C-FOP Balance job aid outlines how to find the balance available to spend within a fund or C-FOP (as the method varies by fund type).
- The Reconciliation Guidance Job Aid was developed by a cross-functional team of accounting and internal control experts which outlines good business practices to incorporate into your reconciliation processes.
- Finally, the policy and resource page in the links below provide more helpful information regarding effective reconciliation processes:
Contact
If you’d like further details on this topic, feel free to reach out to UAFR via email or phone at uas@uillinois.edu or (217) 333-4568.
