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Have you ever seen a different number on an invoice to a sponsor than you see in the OSR Ledger Rollup?  Have you been unable to find charges on reports that you expected to see?  By summer, numbers will match and charges will appear when you expect them to.

You may have heard that our financial reports pull numbers from two main sources: the General Ledger (GL) Actuals ledger and the Commitment Control (or “KK”) ledgers.  The GL Actuals Ledger tracks the amounts we have actually spent and received.  The KK ledgers track our budget balances and the commitments we’ve made against our budgets. They also contain details about the purchase requests, vouchers, and other transactions that have been processed, so that’s why they’re a useful place to get reporting information.

Soon: All Actuals Will Come From the GL

Pulling financial information from the KK ledgers in addition to the GL Actuals ledger has caused confusion and added complexity to our reporting.  The good news is that a project is underway that, once complete, will ensure that all reports take their “actuals” (that is, what is recorded in the book of record)  from the General Ledger.  Only budget-related data, such as budgeted amounts, pre-encumbrances, and encumbrances will come from the KK ledgers.  This means we’ll have a single source for our financial information: the GL Actuals ledger.

It’s not a glamorous project. In fact, once the changes are in place, you may not even notice a difference unless you compare numbers with data saved prior to the change. But it’s important in that no matter which report you look at, no matter where we are in the month, the numbers will match. Look for more information on this project in upcoming issues of the ConnectCarolina newsletter.

Want To Know More?

In the meantime, if you want to understand more about the differences between the Commitment Control ledgers and the General Ledger, these two documents may be helpful:

• Transactions in Commitment Control (KK) Ledgers & GL Actuals Ledger

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