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This department reports to University Controller and Enterprise Financial Accounting.

The Financial Accounting unit is responsible for establishing, monitoring, and reporting for Institutional Trust Funds and Endowment Funds for university campus. Institutional Trust Funds and Endowment Funds include:

  • Gift and Other Expendable Funds
  • Auxiliary Funds, including housing operations, student health services, food services, parking services, facilities services, Athletics, recharge centers, and UNC Faculty Physicians (UNCFP) and Dental Faculty Practice.
  • University Endowment Funds, including permanent endowments and quasi endowments.
  • Agency Funds for University-affiliated organizations.
  • Special Funds, Strategic Reserve Funds and other administrative funds.

Financial Accounting can help you with:

  • Establishing, modifying and deactivating chartfield “Source” in PeopleSoft for Institutional Trust Funds and Endowment Funds (“Foundation and Investment Accounting” unit oversees Foundation sources).
  • Establishing, modifying and deactivating GL accounts in PeopleSoft.
  • New or changed business rules and procedures of Data Collect Batch (DCB) journals. Requesting or modifying DCB journal sources (3-charater field that defines origin of a journal) in PeopleSoft.
  • Custom Campus Journal Module with built-in business rules in PeopleSoft.
  • Campus journals, GL journal entries, subsystem journals, DCB journals and import journals.
  • PeopleSoft allocations for Money Market (MMK), payroll allocations (Composite Benefits, Severance Pay, Core Data, and Campus Transit), UNC Faculty Physician fees, Accrual to Cash and final Facilities and Administrative (F&A) deferred revenue and revenue reclassification.
  • Month-year and year-end closing of “Actuals” General Ledger (GL) activities, including checklist steps and subsystem reconciliation reports.
  • Combo Edit errors of PeopleSoft transactions.
  • “Actuals” General Ledger (GL) transactions.
  • Trust Budget journals.
  • Financial transactions related to departmental reorganizations. (See University Controller’s Office to establish departmental changes.)

Related Units

Services

Contact

Yiwen Wang
Accounting Manager, Accounting Services
104 Airport Drive, Suite 3400
Campus Box 1210

Department Email
accounting@unc.edu
Department Phone
919-962-7818
Department Fax
919-962-3306

News

2024 Fiscal Year-End Closing Dates and Procedures

April 12, 2024

The purpose of this memorandum is to provide information regarding fiscal year-end procedures and critical campus-wide and statewide due dates for a successful fiscal year-end closing on June 30, 2024.

Categories: Campus Unit Finance Leads News, Controller News, Fiscal Year-End News

December Month-End Close Deadlines

December 11, 2023

For December month-end close, validated campus journal entries and data collect batches (journal imports) should be received by Accounting Services on Friday, Dec. 22.

Categories: Campus Unit Finance Leads News, ConnectCarolina and InfoPorte News