Tools for Reconciling

Below are tools for financial stewardship including MyFinancial.desktop and best practices for reconciliation.

Reconciling Budgets

Budget reconciliation is the process of reviewing transactions and supporting documentation, and resolving any discrepancies that are discovered.

• Reconciliation Process
• Budget Reconciliation

• Records Retention
• UW Scanning Requirements
• Ariba Scanning Policy

Reconciling Transactions on Budgets

Comparing activity to supporting documentation on university budgets is essential activity. Reconciliation also involves resolving discrepancies that may have been discovered.

• MyFinancial.desktop (MyFD): Electronically reconcile transactions as they post to your budget using MyFD. All information is stored online for the complete record retention period and available for anyone who has ASTRA access to the budget. All transaction details on the Reconciliation Report are received from the Financial Accounting System.
• Use Tax Correction is completed through PDR

Reconciling PaymentNet (ProCard / CTA)

Reconciling charges in PaymentNet is done to ensure proper account codes are assigned to the transactions charged on the ProCard and CTA. Monthly transactions are charged to budgets in PAS on the 6th business day of each month. Departments must reconcile charges in PaymentNet prior to the payment deadline.

• ProCard Reconciliation

Procurement Desktop Reports

Procurement Desktop Reports (PDR) are a suite of web based reports developed by Procurement Services. The reports draw data from PAS data and JP Morgan Chase PaymentNet and are updated nightly or as new data are available.

Additional Resources

The following additional links and information may be helpful in performing reconciliation activities.