College Accounting FAQ

Who is my USU Accountant?

You can find your USU accountant via one of our WebFocus reporting tools.  You can look up their information using either your Department Code (DPxxxx) or with your Index Code (Axxxxx or Cxxxxx). 

What is Accounts Receivable (AR)?

Accounts receivable is money owed for sales or services rendered in the current fiscal year that WAS NOT collected by June 30 of the current fiscal year.  For more details, please see our reference document on Accounts Receivable.

What is defined as ‘Bad Debt’?

Accounts receivable recorded in a prior fiscal year for sales and services rendered are considered to be bad debt at June 30 of the current fiscal year. This does not include money owed between departments.  For more details, please see our reference document on Bad Debt.

How do I create a journal entry?

Instructions on how to submit journal entries, as well as other important training in relation to Journal Vouchers, are available in our online trainings.  Please note that you do need to be trained in 'Chart of Accounts' as well before you submit journal entries.  Please see the Controller's Office Training Page.  (For additional tips and tricks regarding journal entries, we have prepared this reference document that you can use.)

How do I reconcile an index?

Reconciliation processes may vary depending on specific activity occurring in the index. Refer to the Reference Material on Account Reconciliations for key points to watch for.  Please contact your accountant in the Controller’s Office if you have any questions.

What is USU's fiscal year?

USU's fiscal year changes mid-summer.  It begins on July 1st, and ends on June 30th.

How are the fiscal periods identified?

Fiscal periods are identified by month.  Here is a table you can use for reference:

Fiscal Periods in a Fiscal Year
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
1 2 3 4 5 6 7 8 9 10 11 12

How are Salary (SA) and Graduate Assistants (GA) pay periods identified?

Pay periods are idenified by month, and pay dates are on the first of the following month.  Here is a table you can use for reference:

Pay Periods
Month Dec Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov
Salary (SA) and Graduate Assistants (GA) 1 2 3 4 5 6 7 8 9 10 11 12
Pay Dates Jan 1 Feb 1 Mar 1 Apr 1 May 1 Jun 1 Jul 1 Aug 1 Sep 1 Oct 1 Nov 1 Dec 1

How are the Wage Hourly (HX) pay periods identified?

Wage Hourly pay periods come bi-monthly, and pay dates are on the 10th and 25th of each month.  Please see the table below for reference:

Pay Periods
Month Dec Jan Feb Mar Apr May
Wage Hourly (HX) 24 1 2 3 4 5 6 7 8 9 10 11
Pay Dates Dec 25 Jan 10 Jan 25 Feb 10 Feb 25 Mar 10 Mar 25 Apr 10 Apr 25 May 10 May 25 Jun 10
Pay Periods (cont.)
  Jun Jul Aug Sep Oct Nov
Wage Hourly (HX) 12 13 14 15 16 17 18 19 20 21 22 23
Pay Dates Jun 25 Jul 10 Jul 25 Aug 10 Aug 25 Sep 10 Sep 25 Oct 10 Oct 25 Nov 10 Nov 25 Dec 10

Where can I find the current staff benefit rates?

The current staff benefit rates are available on our website.  Among other places on the Controller's site, you can see the latest rates here. We also have an archive of our past rates available for reference, but all new calculations should be done with the current rates.

When should I do a budget entry vs. a funds transfer?

You can find a description of the difference between a budget entry and a funds transfer, including when to use them, in this reference document.

What is a cash clearing account and how does the account work?

In order to accommodate the various revenue types in one deposit, USU has created the account code 102900 “Cash Clearing Holding Account.” This account code is on the General Ledger and can be found by looking at the fund on FGITBSR in Banner. When revenue needs to be split into more than one account code or multiple indexes, the credit card and cash/check deposits should be recorded in account code 102900. A transmittal or journal entry clears the deposit and moves revenue to the various revenue account codes and indexes. The 102900 account is intended to zero out every day, i.e., deposit in and transmittal out daily. For more information, please see the reference document on 102900 Cash Clearing Reconciliation Process

How is the E&G Staff Benefit Budget calculated?

The E&G staff benefit budget calculation subtracts the total staff benefit expenses and staff benefit encumbrance amount from the previously allocated staff benefit budget amount.  If there is a difference in this calculation, a budget entry is processed. For more information and examples of the calculation, please see the reference document on EG Staff Benefit Budget Calculation.