Background for Release to General Ledger with Anthology Finance & HCM

The release to the general ledger includes transactions tied to a subsidiary and payments made to a subsidiary. This option exports batches of the standard transactions, including summarized ledger card and revenue transactions, and the transactions held in the subsidiary transaction table, to your general ledger system.

General ledger account numbers are associated with the transaction codes. Anthology Student uses the Campus ID from the revenue ledger when looking up the general ledger account numbers. An enrollment can have revenue entries for more than one campus. Anthology Student uses the Campus ID from the deferred revenue entry.

When you release transactions to the general ledger, the related records in Anthology Student are marked as posted and cannot be included in a new batch.

Financial Aid Fund Sources

The release to the general ledger gathers the general ledger accounts for monies received from and refunded to financial aid fund sources. If general ledger debit and credit accounts are specified for a fund source, these accounts are used to post for this fund source rather than the default accounts used for cash received and refunded transactions. General ledger accounts are configured for fund sources. (Select the Configuration tile > expand Financial Aid > select Fund Sources.)

Integration with Anthology Finance & HCM

If your institution uses the Anthology Finance & HCM accounting system, transactions such as miscellaneous receipts, student deposits, student ledger card and subsidiary ledger entries and adjustments, stipend and refund checks, bank deposits, and revenue recognition continue to be entered in Anthology Student. The transactions will be sent to the integrated accounting system through the web services to create journal entries in the integrated accounting system.

Transactions entered in Anthology Student and affecting the general ledgers create multiple journal entries based on release date, time, journal entry type, and campus in Anthology Student. The following is a list of the journal entry types that will be processed:

  • Miscellaneous receipts
  • Financial aid disbursements
  • Revenue recognition
  • Charges
  • Payments
  • Refunds Stipends 
  • Subsidiary transactions (such as charges, payments, and refunds) 

During the release to the general ledger, Anthology Student sends the payee type, payee ID, name, and address for refunds, stipends, and subsidiary refunds to Anthology Finance & HCM.

Anthology Finance & HCM uses the payee information to update the vendor or creates the vendor (if not mapped) with the following details:

  • First name
  • Middle name
  • Last name
  • Address line 1
  • City
  • State
  • ZIP code
  • Payee type
  • Payee ID

Anthology Finance & HCM creates refund and stipend transactions using the vendor sent by Anthology Student.

Anthology Student also sends receipt numbers for: 

  • Ledger card payments
  • Subsidiary payments
  • Miscellaneous receipts

If a user changes the payee details on the Student Profile after the transaction that uses the payee is released to the general ledger, the changes are not reflected in Anthology Finance & HCM until another release to the general ledger involving the same payee is done.

A functional area of a transaction (for example, Financial Aid, Student Accounts) dictates how the transaction is grouped into journal entries within the integrated accounting system. For example, transactions from similar functional areas should be grouped into common journal entries, which will make it easier for the users of the accounting system to understand where journal entries originated.

Anthology Student looks for transactions that have not been released to the integrated accounting system and creates a journal entry or appends the transactions to a current period's journal entry.

For journal entries sent to Anthology Finance & HCM, one journal entry is created at a time.

  • Per Campus
  • Per Journal Entry Type
  • Per release

The fiscal period controls the frequency with which a new journal entry is created in the integrated accounting system.

Details for Journal Entry Groups

Type of Journal Entry Group Details for the Group

Revenue recognition

You continue to use the Revenue Recognition feature in Anthology Student. The transaction date is used to determine the end date of the period in which revenue was calculated.

Bank deposits

When Anthology Student is integrated with Anthology Finance & HCM, bank deposits are done in Anthology Finance & HCM, and the bank deposits functionality in Anthology Student is disabled.

Miscellaneous receipts

Miscellaneous receipts are grouped in their own journal entries. As with the other transactions, a service or job is scheduled to run continuously to pick up the transactions that have not been moved over to the appropriate journal entry in the accounting system. Because the journal entries for bank deposits are responsible for transferring undeposited cash to the actual cash account when the deposit is made, the service or job sends miscellaneous receipts to the deposits pending account. ( Select the Configuration tile > expand Student Accounts > select Banks.)

Updates to the Minimum Transaction Date

If Anthology Student is integrated with Anthology Finance & HCM, Anthology Finance & HCM updates the minimum transaction date in Anthology Student for the latest date for the closed period to the period end date plus one day. Any changes you make here override the dates set by Anthology Finance & HCM.

Stipend and Refund Check Printing

When Anthology Finance & HCM is integrated with Anthology Student, the check printing functionality is disabled in Anthology Student. Checks are printed only from within Anthology Finance & HCM.

Anthology Student sends the transaction details for refunds and stipends to Anthology Finance & HCM. The details include:

  • Payee name and address
  • Bank account and amount
  • Campus name
  • Fund ID
  • Award year and payment period (if applicable) 
  • Term

For refund transactions with payment method Master Checks, Anthology Student sends the following information in addition to the transaction details to Anthology Finance & HCM for check printing:

  • Bank account and reference number
  • Payee name and address
  • Student IDs
  • Amount being refunded for each student

Anthology Student updates the transaction status in the student ledger to pending once the information has been sent to Anthology Finance & HCM for check printing. You can review pending transactions on the student ledger card. (Select the Students tile > select the name in the Students list > expand Student Accounts > select the Ledger Card tile.)

When check printing is completed, Anthology Finance & HCM updates the transactions in Anthology Finance & HCM with the check number and date paid and sends the same information to Anthology Student.

Based on the information received from Anthology Finance & HCM, Anthology Student updates the refund or stipend transaction with the check number and the date paid.

In Anthology Student, the user can view the check number and date paid in the following locations:

  • Select the Students tile > select the name in the Students list > expand Student Accounts > select the Stipend Schedule tile.

  • Select the Students tile > select the name in the Students list > expand Student Accounts > select the Ledger Card tile. (Check #/Ref# column)

When processing refunds related to master checks, Anthology Student marks the transactions ready for release to the general ledger so that the transactions can be sent to Anthology Finance & HCM.

Processing Voids

Student Account administrators can void transactions in Anthology Student on the ledger card for the student. When a transaction is voided, Anthology Student reverses the credit and the debit accounts configured on the G/L Link form for charges or the Fund Sources page for payments for the transaction or fund source associated with the transaction.

Checks are voided and/or rescheduled using the Void Master Check page. The transactions are sent to the banking module of the integrated accounting system if configured to do so.

When Anthology Finance & HCM is integrated with Anthology Student, student transactions cannot be voided within Anthology Finance & HCM.

Variations in the Ledgers

Anthology Student maintains the following ledgers:

  • Main ledger (charges, refunds, stipends, payments, and related voids)

  • Subsidiary ledger (charges, refunds, payments, and related voids)

Anthology Finance & HCM has only one ledger (student ledger) that shows the transactions from all Anthology Student ledgers and thereby includes all balances for calculating the ledger balance.

Anthology Finance & HCM provides a filter that allows the user to view each of the Anthology Student ledgers separately. The default view is the main ledger. Anthology Finance & HCM calculates the balances depending on the selected ledger so that the balances can be reconciled with the separate ledgers in Anthology Student.

Subsidiary Transactions

Anthology Student can adjust transactions even if the transaction has been released to the integrated accounting system, because the perpetual service looks for transactions regularly and posts them to the integrated accounting system.

When adjustments are made, Anthology Student checks if the parent record being adjusted has been released to the accounting system's general ledger. If so, the adjustment is also released when the service processes subsidiary adjustment transactions.

Actions Not Available in Anthology Student with Integration

When Anthology Student is integrated with Anthology Finance & HCM, the following actions cannot be taken in Anthology Student to maintain the integrity of the data in both systems. In addition to preventing you from voiding reconciled transactions, you also cannot: 

  • Add or edit an earning detail on the Revenue Ledger list for a student (Select the Students tile > select the name in the Students list > expand Student Accounts > select the Revenue Ledger tile.)

  • Add or edit information for banks ( Select the Configuration tile > expand Student Accounts > select Banks.)