The M-Pathways General Ledger (GL) module allows the University to record and report financial transactions. It is the authoritative data source for:
Some of the common uses of the GL by University departments include:
The General Ledger records financial activity by the University’s fiscal year and an accounting period.
The Fiscal Year begins on July 1 and ends on June 30. The Accounting Periods represent the months within the fiscal year.
Financial activity for an accounting period usually concludes on the fourth (4th) business day of the subsequent month.
This information helps you determine when transactions appear on your Statement of Activity (SOA) and when you can reconcile.
SOA reconciliation is a common example of General Ledger reporting for most University departments. It is expected that you will regularly reconcile financial activity for your unit and/or project/grant, per U-M’s Standard Practice Guide (SPG 500.1). "Reconciling regularly" is commonly defined as reconciling monthly, at least.
The M-Pathways General Ledger module is supported by the AIS - Financials department within ITS. Contact the ITS Service Center for further assistance.
The following central offices support the business processes for recording, reporting, and analyzing financial data through the General Ledger.
The table below contains links to various General Ledger resources by their location.
|Financial Operations||Accounting Services||Contains business process information for ChartFields, journal entries, reporting, and more.|
|My LINC||"Run a report" procedures||Provides instructions to run any M-Pathways report, including the Statement of Activity.|
|"Financial reports package" procedures **||The Statement of Activity reconciliation process involves the SOA and various transaction detail reports. Collectively these reports are called the "financial report package." You can run the package in M-Pathways Financials by:
** Click the link to go to the My LINC Activity page, then click the arrow to open the resource.