The Student Financials General Ledger Interface (GL Interface) exists to record the impact of Student Financials transactions (charges, payments, cash receipts, etc.) against a general ledger chart of accounts.
A chart of accounts represents how an organization gathers, stores, combines, and uses financial information in its operations. For example, your organization may want to track its student receivables, third-party receivables, payments, financial aid disbursements, cash receipts, or refunds disbursed for its balance sheet and other financial statement reporting requirements.
Student Financials is integrated with PeopleSoft General Ledger. The Student Financials GL interface performs three functions:
• It loads setup information from the PeopleSoft General Ledger application used in the creation of accounting information.
• It validates the chart of accounts (ChartFields) on various Student Financials setup tables against data from PeopleSoft General Ledger to ensure that Student Financials reflects your institution’s current chart of accounts.
• It creates and sends accounting information to your institution’s general ledger, enabling your institution’s accounting office to track revenue, expenses, receivables, and liabilities.
Upon completion of this lesson, you will be able to:
• Create accounting entries.
• Review accounting line information.
• Use the Back Out GL Interface process.
• Send account entries to the General Ledger.
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