Account activity needs to be reviewed periodically to ensure any errors are detected and corrected promptly. It is recommended that this review be performed at least monthly and that copies of source documents such as budget transfers, purchase orders, requisition forms, etc., are retained in a file or binder for reference and comparison.
Persons responsible for these accounts may monitor them using Accounting on the Web. The online queries provide up-to-date information on account balances, open commitments, and transaction details needed to review a cost center.
The common accounting reports are listed below. Sample reports with explanations are at the bottom of this webpage.
Tips for running the reports: