The General Ledger and The Operating Ledger

The General Ledger

The General Ledger provides information on balance sheet accounts. This ledger is broken into four main sections: Assets, Liabilities, Fund Balance, and Control Accounts. Since most units do not receive the General Ledger, this manual does not focus on it. If you have questions regarding the General Ledger, please contact the Accounting Office.

The Operating Ledger

The Operating Ledger provides the status of financial, budgetary, summary encumbrance activity and balances for the operating accounts of organizations at UCSC. This ledger is broken into three main sections: Revenue, Expenditures and Transfers.

The FIS Operating Ledger can be compared to a monthly bank statement. Each month you receive your FIS Operating Ledger showing your account’s activity during the month. As you review your ledger, consider whether the transactions reported are reasonable and consistent with your unit’s budget and expenditure plan.

For procedures on using FIS Banner to review your Operating Ledger, see Chapter 3, “Reviewing Budget Status.”