- Total of assets equals liabilities plus fund balance.
- Asset account codes normally have debit balances
- Liability account codes normally have credit balances
- An asterisk indicates account code balance is opposite of normal balance.
Certain general ledger account codes require the maintenance of subsidiary ledgers – detailed listings of transactions that comprise the balance of an account. If your department makes entries to general ledger account codes that are outside of system generated entries (e.g. student receivables and invoices payable) you should be able to provide details to support the balance at any given time.
Some funds have multiple indexes associated with them. Because FGITBAL shows balances by fund, the combined totals of all the indexes for the specified fund will be shown.