General Ledger


Purpose

The purpose of the General Ledger is to maintain the accounting transactions and account balances of the organization. The general ledger records the transactions of asset, liability, revenue, and expense accounts through journal entries and cash transactions.

The AUI Corporate Office has established that:

  1. The AUI/NRAO Accountant be the authorized personnel to enter and post journal entries and cash transactions into the JD Edwards Accounting system.
  2. The General Ledger is reviewed monthly by the AUI Controller for approval.

Procedure

  1. All journal entries are prepared and entered monthly by the AUI/NRAO Chief Accountant.
  2. A copy of the posted journal entry is printed and the journal entry is filed.
  3. On a monthly basis the AUI/NRAO Chief Accountant reviews the General Ledger account balances and underlying account detail, to ensure that the transactions made have been recorded and classified properly.
  4. After review, the AUI/NRAO Chief Accountant provides the General Ledger to the AUI Controller for review and approval.