Accounting Best Practices

Monthly Reconciliation best practices: 
  1. Run Budget Queries through Self-Service Banner periodically through the month to look at revenue, expense and transfer transactions. Verify that the activity is what you expect to see. 
  2. Run Payroll Expense Detail on Self-Service Banner to view payroll information. Access may be restricted to certain individuals. Contact your budget analyst or email BannerFinance@MissouriState.edu to get access. 
  3. Enter or Approve Requisitions for services or products not yet invoiced. Payment Requests must be used for all products or services already received and invoiced by Vendors. 
  4. Run Encumbrance Queries to see outstanding Purchase Orders. 
  5. View Document in Self-Service Banner will display backup documentation on Invoices, Checks and Purchase Orders. Some backup to Journal Entries might be visible based on access. 
  6. Run Bear Finance Argos reports at the close of the month to make sure you see expected activity. 
  7. Follow P-Card procedures on monthly activity and required documentation. 
  8. Contact Financial Services Analyst for questions at anytime for outside university reporting, interfund transfers, and other questions. 
  9. Sign up for the Financial Services blog at https://blogs.missouristate.edu/financialservices/ for month close and other announcements from Financial Services. 

Administrators: 

1. Bear Finance Argos Reports: 

  • Reports include Budget - to - Actual comparison for various funds. 
  • Category Summary and Account Summary reports provide high level overview of budget. 
  • Reports include Prior year Actuals as well as percent of budget expended.
  • Year to Year comparison reports include multi year comparison.

2. Run Queries in Self Service Banner: 

  • Budget Queries provide real-time information. 
  • links can be clicked on to provide more information. 
  • Backup documentation of Invoices and Checks are available to print or view.
  • Payroll history query is available through Budget Queries. 

3. Requisition Approval: Ensure all requisitions are approved before the month closes. Failure to approve open requisitions within the month will encumber funds and restrict further activity from happening on the Fund. 

Originators/Support Staff Reconciliation:

1. Transaction Detail Reports: 

  • Reports can be run in .pdf(adobe) or .xlsx (excel) formats for easy reconciliation. 
  • Monthly reports need to be run to reconcile anticipated expenses. If there are expenses or activity that should not post to your FOAP, contact your Budget Officer or Financial Services Accountant/Analyst for correction. 

2. Ensure access to all accounts you should be tracking. If you need to review access to accounts your approver is managing, you can run the Argos report below for that information. 

3. Self-Service Banner: 

  • Use Self- Service Banner to view Backup Documentation on invoices and checks. 
  • View Document allows viewing of Invoices, requisitions, Purchase orders and Checks issues to vendors and employees. 
  • Some Journal Entry backup documentation may be visible.