Online Tool for General Ledger Verification Coming this Spring

General Ledger (GL) verification is a key control of UCSF, and is a requirement per Campus Administrative Policies and the University of California Office of the President (UCOP). This key internal control requires all departments to review and verify financial transactions on a monthly basis. Acknowledgement of verification and documentation currently resides in the campus departments requiring recordkeeping and maintenance of many paper files, and the transfer of files to central offices when required. The Controller's Office is implementing a new General Ledger Verification (GLV) online tracking tool to automate and streamline the review and documentation of the required control activities.

The GL Verification tool will automate and streamline this process, providing the following benefits:

  • Eliminates the need for departments to maintain monthly paper files documenting the completion and certification of GL verifications.
  • Includes an email notification system to remind reviewers and certifiers that GL verifications are due, and to alert higher level management when verifications are not performed or certified on a timely basis.
  • Allows for configuration of key control parameters, providing for automatic sampling of transactions by value thresholds where required.
  • Provides a dashboard displaying key metrics, allowing campus management the ability to view the current status of GL Verification control processes.

We are currently working with an external application development company to build the online user interface and dashboard for the new General Ledger Verification tool. Testing of this tool by our pilot group is scheduled for February and March with estimated roll-out in Spring 2017.

Please contact Assistant Controller-Accounting and Reporting Shannon Turner at [email protected] if you have any questions about the General Ledger Verification tool.