General Ledger Activities
Chart of Accounts
The basic coding requirement of General Ledger is known as the ‘Chart of Accounts’. These codes, comprising of a string of 6 elements (including type of income/expenditure; cost centre i.e. area in College and the specific College account) enable College areas to charge income and expenditure to General Ledger accurately.
A detailed slideshow presentation about coding is available at the following link:
https://www.tcd.ie/Treasurers_Office/docs/GeneralLedgerCoding.pdf
With summary information available under FAQ’s:
http://www.tcd.ie/Treasurers_Office/faq/coding_faq.php
Opening a New Account
Where there are organisational changes, new activities or new income streams etc it may require the generation of new codes. The form for setting up a new self-financing account, sub-activity or new Element 1 accounts is at the following link:
https://www.tcd.ie/Treasurers_Office/forms/index.php#financialresourcesforms
This form must be signed by the Head of School/Support Area; detail all persons authorised to request payments from the account and provide details of funding source.
Please note that a 10% charge is deducted by College for overheads on all self financing accounts on external income except monies from registered charities and presentation funds as approved by Board in June 2003.
http://www.tcd.ie/committeepapers/board/download/UniversityBoard_minutes_20030611.pdf
Please contact your Faculty Financial Advisor or the Treasurer’s Office to discuss your specific requirements.
Month-end Activity
At the end of each month financial transactions for the current month are finalised to close out the current posting period. During the year accounting transactions are accounted for on a ‘cash basis’. Accruals and prepayments are required at year end for values over €500 (excluding internal and research transactions) – see section Year End Processes.
- A link to month end timetable is available at:
https://www.tcd.ie/Treasurers_Office/docs/GLMonthly_schedule.pdf
All non-research adjustments, recoding, interdepartmental transfers or allocation journals etc should be sent to gledger@tcd.ie or posted to the Treasurer’s Office (Financial Resources), in line with the above timetable. Sufficient backup documentation should be attached to allow journals to be processed swiftly. Please avoid both posting and emailing in order to avoid duplications. Journal requests should follow authorised signatory guidelines - section 1.3 Finance Manual. - All pay adjustments are processed through the Human Resources Office.
- When areas in College provide goods or services to other areas in College an ‘Internal College Invoice’ should be raised to transfer the appropriate charges. See section 2.1.3 of Finance Manual for details of raising an invoice. For regular high volume transactions, charges for internal services, subject to approval, can be made by a journal transfer. Please contact gledger@tcd.ie for further details
eReports
The Treasurer’s Office reports the monthly financial position of all discretionary funds to the Head of School/Area (and their proxy) by means of Electronic Reporting. E-Reports are updated and available to all users on a daily basis in PDF and excel formats. Other pay and non pay costs accounted for directly in the College income and expenditure account, do not form part of the monthly e-Reports i.e. Cista income and expenditure.
E-Reports can be accessed at:
http://www.tcd.ie/Treasurers_Office/ereports/index.php
Access to e-Reports can be requested by Head of School/Area at the following link:
https://www.tcd.ie/Treasurers_Office/forms/index.php#financialresourcesforms
E-Reports should be carefully scrutinised on a monthly basis and any queries should be referred to gledger@tcd.ie for further clarification.
Quarter-end Reporting
Quarterly Accounts, based on e-Reports, are generated by Financial Resources and sent to the Head of School/Area for detailed analysis. A quarterly memorandum commenting on Capital, Research Accounts and other issues, is then prepared by Financial Resources for the College Finance Committee on a quarterly basis, highlighting key movements and trends.
Please contact your Faculty Financial Advisor or the Treasurer’s Office to discuss any specific queries.