Transaction Verification

Overview

The Transaction Verification report displays transaction data for transactions that were initiated outside the selected Org Nodes so that you can investigate whether these transactions were posted to your unit by mistake. It helps to run this report monthly as you reconcile your unit’s finances every month to answer the question:

  • What transactions that impacted my unit were initiated outside of my entity?
  • Are these supposed to be posted to my unit?

Report

  • The Transaction Verification report presents Actuals sorted by transactions by Transaction Type Code, chartstring columns and transaction document details. You can see which person and unit initiated the transaction in the Preparer Name and Processing Unit columns.
  • There is no summarization; the data returned is all at the transaction level.
  • You can show subtotals or grand totals, exclude columns, move columns, change the sort order of data within a column, and include these columns that aren’t present in a report.

What to do with the information in the report

The best case scenario is that all the transactions identified in the report are supposed to post to your unit.

If you find a transaction that should not be posted to your unit, it’s possible that a mistake was made in entering the chartstring, which can result in a transaction being posted to the wrong unit. Use the Preparer Name and Processing Unit columns to identify the person or unit to contact. Work together to create the necessary journal entries to remove the transaction from your unit and post it to the correct unit instead.

Prompts

Required Prompts

  • There are 5 required prompts: Fiscal Yr, Accounting Period(s), Business Unit, Account Tree, and Org Level for Exceptions.
  • In the Org Level for Exceptions prompt, you may search for transactions initiated outside of your org node at any org level from 3 to 6. To see all activity that posted to this org node but was not initiated by it, set the Org Level for Exceptions prompt to the org level by which you want to search, then enter the org node for which you want to search. The Org Level for Exceptions prompt defaults to level 4.
  • If you selected Org Level 4 for Exceptions, be sure to select one or more departments from the Org Level 4 prompt. Similarly if you selected Org Level 5 for Exceptions, you’ll need to select one or more members from the Org Level 5 prompt. Even if you have a value in the individual prompts for levels 3, 5, or 6, the report will not run based on those values unless you adjust the Org Level for Exceptions prompt to look at the desired org level.

Key Considerations

  • You may wonder when to run this report versus the General Ledger Detail report. The General Ledger Detail report is the report to run to see all transactions that posted to your unit and to verify they posted correctly in terms of chartstring and amount. The Transaction Verification report is the report you run to make more obvious the ones that might be on an incorrect chartstring.
    • Note: There are multiple ways a transaction can get posted to the wrong unit, via an incorrect dept ID, fund, CF1, and/or CF2. The Transaction Verification report doesn’t show the ones posted to that Processing Unit’s dept ID but on a fund, CF1, and/or CF2 that belongs to your unit. To check for these, run the General Ledger Detail report and look for unfamiliar dept IDs.
  • Recurring overhead expenses such as Payroll and Telecom show in this report because they are initiated outside of your unit. You may find this to be noise because they are supposed to post to your unit. If you want to remove it from the report, you can:
    • Exclude payroll activity by:
      • Unchecking Compensation Expenses in the Account Group prompt.
      • Excluding account code 57310 to exclude GAEL by indicating the Account Code prompt ‘is not equal to / is not in’ 57310.
    • Exclude recharge expenses by excluding particular account codes. Examples are:
    • 56011 - Recharge - IT/Voice/Data Svcs
    • 56110 - Mailing Services/Postage
    • 56130 - Telephone Services
    • 56210 - Building Maintenance

Note: Filtered and applied values from this set of prompts impact this report only; they do not carry over to any of the other reports in the General Ledger Reporting dashboard.