Regularly monitoring and reconciling financial activity in Banner is essential for maintaining accurate financial reporting across the University of Illinois System. These reconciliations support the integrity of the system’s audited financial statements and help safeguard system resources.
When completing your monthly reconciliations, it is important to verify revenue, expense, and fund transfer activity in the Operating Ledger (OL). It is also important to review balances and transactions in the General Ledger (GL). This step is especially critical for fund types that routinely carry GL balances, such as self‑supporting funds and service plan funds.
Omitting a GL reconciliation can result in outdated or inaccurate GL balances. For example, if a self‑supporting fund includes receivables, inventory for resale, unearned revenue, or deposits, those balances should be reviewed regularly to ensure they remain accurate and reflect current activity.
For additional guidance, refer to the resources highlighted in the links below:
Contact
If you have questions, contact UAFR at (217) 333-4568), email (uas@uillinois.edu), or the Business & Finance Who to Ask list.
