University of Illinois System
Accounting & Budgeting

Accounting and Financial Reporting

To help ensure accurate accounting and financial reporting within your unit, refer to the guidelines and tips provided within the resources below.

CFOAPAL Accounting Strings

To help maintain a financial reporting structure that can be consistently used across the U of I System, a chart of accounts, or an “accounting string”, was developed for all units to report their financial activity. The accounting string used at the U of I System is called a C-FOAPAL string.

Reconciliations

Units must regularly monitor and reconcile their financial activity within Banner. See the information, resources, and tools in this section to assist you as you develop and carry out your reconciliation processes.

Journal Vouchers

Journal Vouchers are non-cash transactions used to process accounting entries within Banner. Units must ensure that all JVs are processed accurately and on a timely basis. This helps ensure accurate reporting for the University of Illinois System’s audited financial statements.

Payroll Accounting

University Accounting and Financial Reporting (UAFR) is responsible for overseeing payroll accounting functions. Explore this section to learn more about payroll accounting responsibilities and processes.

Year-End Procedures

It is important that personnel responsible for the business and financial activity of units carefully review all policies, procedures and critical dates for fiscal year opening and closing processes available in this section.

Who to Ask

For further details, contact the applicable subject matter experts listed in the Who to Ask list.