Operating Ledger

The operating ledger provides record of revenue, expense, budget, transfer, and encumbrance activity for a single fiscal year. The operating ledger is analogous to an income statement for a given time period within a fiscal year.

Transactions posted to the operating ledger require at least a fund, organization, account code, and program. The activity can be queried in Banner by any FOAPAL element. Each fiscal year-end, operating ledger activity (net income or loss) is closed into fund balance.

Common Banner pages used to view the operating ledger are FGIBDST, FWIBUDG, and FGITRND.

Below is a Banner page summarizing operating ledger activity by level 1 account type.

General Ledger

The general ledger is the balance sheet that summarizes all operating ledgers, reflecting the University’s financial position at a given time. Banner general ledger pages report assets, liabilities, and fund balance. They also provides a summary of the operating ledger activity in control accounts, which are closed into fund balance at the end of each fiscal year. General ledger balances are cumulative, rolling over from one year to the next.

Transactions posted to the general ledger only require a fund and general ledger account code (Axxxx and Bxxxx account codes). General ledger activity is queried in Banner by fund/fund type or account/account type.

Common pages used to view general ledger data are FGITBSR, FGITBAL, FWIGLDD, and FGIGLAC.

Below is a general ledger page for the same fund presented above. You can see the year-to-date revenue activity from the operating ledger is summarized in the highlighted control account.