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Administrative Procedure 8.602 Administrative Procedure 8.602



Title

General Ledger

Header

Administrative Procedure Chapter 8, Business and Finance
Administrative Procedure AP 8.602, General Ledger
Effective Date:  July 2016
Prior Dates Amended:  July 1982, August 2001
Responsible Office:  Office of the Vice President for Budget and Finance/Chief Financial Officer
Governing Board and/or Executive Policy: EP 1.102, Authority to Manage and Control the Operations of the Campus
Review Date:  August 2018

I. Purpose

To describe the general ledger and use of general ledger accounts in the University’s accounting system

II. Definitions

A.  General ledger - A group of accounts that are established for organizing financial transactions for an operating entity.

B.  General ledger account - A recording mechanism used to sort and store financial data according to their financial characteristics: asset, liability, net asset, revenue and expense for an operational unit.

III. Administrative Procedure

A.  General ledger accounts are created with account attributes to help facilitate stewardship and compliance with legal and other reporting requirements of the financial transactions of the University.

B.  Fiscal personnel must have an understanding of general ledger accounts and how they are used in the University’s accounting system.

C.  General ledger accounts are established by the General Accounting Office and the Office of Research Services.

IV. Delegation of Authority

There is no specific administrative delegation of authority.

V. Contact Information

General Accounting and Loan Collection, 956-8278, or uhgalc@hawaii.edu
Website:  http://www.fmo.hawaii.edu/general_accounting/index.html

VI. References

    A. Link to superseded Executive Policies in old format https://www.hawaii.edu/policy/archives/ep/
    B. Link to Administrative Procedures in old format https://www.hawaii.edu/policy/archives/apm/sysap.php

VII. Exhibits and Appendices

None

Approved

    Signed    
    Kalbert Young    
    July 13, 2016    
    Date    
    Vice President for Budget and Finance/Chief Financial Officer

Topics

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