Accounting System

Overview

The intent of this informational document is to provide fiscal managers and other users with an understanding of the University’s accounting system.

General Ledger

As the final record for any entity, a general ledger must maintain reliable information.  The steps preceding the final entry of transactions into a general ledger ensure the accuracy and completeness of the general ledger records.  These steps are what make up the accounting process.  The general ledger not only maintains accurate and complete records but consolidates transactions from multiple sources, should deliver easy-to-read reports, and provides full auditing capabilities.

Important: The myUFL General Ledger is the official accounting record of the University of Florida.

Sub-Systems

Sub-systems feed information directly to the general ledger as transactions within the sub-system are posted.  Below are the sub-systems found in myUFL:

  1. Accounts Payable (AP)—Accounts payable is a module in the myUFL Systems which provides for a method to pay suppliers and vendors for goods and services purchased by the University.
  2. Accounts Receivable (AR)—Accounts receivable is a module in the myUFL Systems used to record deposits to the general ledger.
  3. Asset Management (AM)—Asset management is a module in the myUFL Systems which provides the means to track and account for property of the university.  Each piece of tracked property has a property tag and is scanned periodically by Property Records and compared with information stored in the myUFL Systems.
  4. Grants (PC/BI)—Grants is a module in the myUFL Systems which allows for the creation, viewing or submitting of proposals for awards.
  5. myUFL Systems—The myUFL portal links several systems together into a seamless collection of services and online business processes for UF users.  The myUFL systems include the portal, a Finance System, a Human Resource System and an Enterprise Reporting System.
  6. Payroll—Payroll is a module in the myUFL Systems used to process payroll, setup payroll distributions and provide for a method of compensating employees.
  7. Purchasing—Purchasing is a module in the myUFL Systems to establish encumbrances for goods and services needed by the university community.
  8. Travel and Expense (EX)—Travel and expense is a module in the myUFL Systems that allows for the reimbursement of travel-related expenses to university travelers while performing travel related to university business.

Commitment Control

Commitment control (KK) is integrated with the financial applications and provides valuable tools for controlling budgets and tracking revenues and expenses.  Commitment control provides “real time” expenditure checking against budgets and provides error and warning messages to fiscal managers responsible for budgets.  Several instructional guides are available in the myUFL Toolkit that will provide guidance in determining available spending authority within a budgetary cost center.  It is an accounting methodology that identifies and reserves (or “commits”) funds for future payment obligations.  It is designed to answer the question: “What is my available spending authority?”

Ledger groups

Available spending authority in PeopleSoft is divided into five categories or ledger groups.  Each ledger group is related to a different source of funds, each with different rules governing spending.

The UF ledger groups are:

  1. APPROP – State appropriations
  2. CASH_BASED – Cash based
  3. STUGOV – Student Government
  4. CONST – Construction
  5. KKGMCHD – Sponsored Programs
  6. KKIFAS – IFAS Capacity
  7. CONAPPN – Construction Appropriation

Resources

Commitment Control Configuration

Contacts

General Accounting & Financial Reporting: (352) 392-1326

Contact Us

UF Help Desk: (352) 392-HELP

UF Budget Office: (352) 392-2402

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