• Accounting & Financial Reporting (AFR) – AFR is a central administrative department within the VP for Finance & Operations that oversees the financial systems and financial reporting.
  • The General Ledger (GL) is the on-line UI accounting information system (General Ledger Decision Support System - GLDSS).   Access to the GL is made via the UI Self-Service and access is granted thru:  Administration->System Tools->Secondary Security.
    • The General Ledger uses a Master File Key (MFK) to group financial transactions into categories.  The MFK consists of 11 elements and sub-elements for a total length of 40 characters.  Definitions of these elements are listed within the Accounting Code Manual.  Click here to link to the General Ledger Chartfields & Who Keys request form.
    • The Who-Key is a portion of the MFK and includes only the following elements:  Fund, Org Unit, Dept, Sub-Dept, Grant/Program and Function.
      • Most GL reports are built based on the Who-Key portion of an MFK. 
      • At fiscal year-end, free balances are brought forward by Who-Key and not at the MFK level. 
  • Financial Review, Reconciliation and Oversight - Collegiate Budget Officers are expected to ensure their accounts are reconciled on a regular basis.  Specific University of Iowa policies related to reconciliation of accounts can be found here:
    • Monthly Review of Transactions Policy
    • Quarterly Reconciliation of Balance Sheet Accounts
    • Electronic Financial Reports (EFR) Inbox is available through Self Service and is the “portal” for centrally provided financial reports including:
      • Dashboards – at a glance tools to monitor key performance metrics, as established by AFR. 
      • Grant Reports – Financial summary reports for sponsored project funding.
      • Transaction Detail Report (TDR) – Transactional information and drill down capabilities into many sub systems provided by WhoKey.  This report is used to reconcile transactional data each month.
      • Ad-Hoc Search – available for TDR and Grant Reports.
    • Other Accounting and Financial Reporting policies and procedures.
  • Financial Systems & Applications
    • Cumulative Compensation (CUMCOMP DSS) – Given payroll expenditures are loaded to the General Ledger in total by MFK, not at the employee level, the CumComp DSS application allows users to drill down on payroll expenditure details by person.  Security to this application is granted thru the Secondary Security application and access to CUMCOMP can be found via Self-service->Applications->Data Access->GL Cumulative Compensation DSS.  
    • Accounting Journal Entry Processes:
      • WebCV – post correcting entries for non-payroll expenditures to the General Ledger.
      • PayCV – post correcting entries for payroll expenditures to the General Ledger.
        • Retroactive Cost Transfer Justification >90 days (Grants)
        • Retroactive Cost Transfer Justification >90 days (Non-Grants)
      • GLJE - post original, transfer or accrual entries to the General Ledger.
      • Financial System Tools allows users to search previously processed journal entries.  These tools are available within Self-Service->Administration->Data Access->GL Financial System Tools.
  • Who Key Administration Application – This application serves as a central database for University departments to assign WhoKey “owners”, “reviewers” and document “purpose” of the account.  The Who Key Administration Application is accessed via Self-Service->Administration->Systems->WhoKey Administration.
  • Institutional Roles Application – Institutional Roles were developed for specific groups on campus to help facilitate security and reporting to these populations.  Institutional roles are delegated to certain positions and can be updated via Self-Service->Administration->Systems->Institutional Roles
  • Fringe Benefit Accounting