Financial Services Policy 5 – Functional Responsibilities

Accounting Office

The Accounting Services Office of the Office of Financial Services consists of: the General Accounting unit, the Financial Systems and Reporting unit, and the Cashiers and Student Accounts unit. A brief description of the functional responsibilities of each section of the Accounting Services Office is as follows:

General Accounting

The General Accounting unit is responsible for all funds which flow out of the University. These responsibilities include processing all University payments for goods and services (in accordance with State and Federal requirements), administering proper budgetary controls, maintaining the University’s fixed asset system, cash management, and reconciliation of the University’s and Office of State Controller cash records. This section is also responsible for project accounting for Capital Improvement budget codes and Repair and Replacement projects.

The General Accounting Section also includes the Payroll section. The Payroll section is responsible for the preparation of all payrolls and for rendering timely and accurate payroll payments to all employees. The Payroll section ensures that all payroll deductions have been properly authorized. This section is also responsible for the preparation of the necessary reports for all statutory deductions; remittance of all authorized deductions to the proper governmental agencies and private companies; and maintenance of all records required for state and federal agencies and the University. The Payroll section is also responsible for the annual issuance of all Federal W-2 forms to employees. Individuals should contact the Payroll section for information or inquiries concerning payroll items.

Financial Systems and Reporting

The Financial Systems and Reporting section is responsible for the continued maintenance of the Banner Finance system which includes; chart of accounts updates, organizational changes, check writing, and data control. This section is also responsible for all University internal and external financial reporting, debt service accounting, loan fund accounting, and the interface of the Banner Finance system with State of North Carolina Accounting System and the UNC DATAMART. Individuals should contact the Financial Systems and Reporting section with inquiries concerning fund codes, organization codes, organizational code changes, and responsible persons.

Cashier’s

The Cashiers and Student Accounts section serves as a depository for the cash receipts collected by University departments and organizations and for maintaining student account and student loan records. This section is responsible for the appropriate charging, billing, and timely collecting of student tuition and fees, student loans, and other debts owed to the University. Students should contact the Cashiers and Student Accounts Office concerning questions and/or inquiries about their account or loan.