Banner Finance User Guide: A Comprehensive Overview

Banner Finance is a comprehensive financial management system widely used by institutions to streamline accounting, budgeting, procurement, and reporting processes. This guide provides a user-friendly overview of key functionalities to help you navigate the system effectively.

Logging In and Navigation

Access Banner Finance through your institution’s designated web portal. Use your assigned username and password to log in securely. Upon successful login, you’ll be greeted by the main menu. Familiarize yourself with the menu structure, which typically organizes modules by function (e.g., General Ledger, Accounts Payable, Budget Management).

Navigation within Banner Finance is typically done using menus, forms, and search functions. Use the menu to access specific modules or forms. Forms allow you to enter and view data. The search function is crucial for locating specific records like invoices, purchase orders, or account codes. Learn the common search criteria (e.g., document number, vendor ID, account number) for efficient retrieval.

Core Modules and Functionalities

General Ledger (GL)

The GL module is the backbone of Banner Finance, managing the chart of accounts and recording all financial transactions. Key tasks include:

* Journal Entry Creation: Manually create journal entries to record transactions not captured by other modules. * Account Inquiry: View account balances, transaction history, and budget information. * Financial Reporting: Generate financial statements like balance sheets, income statements, and cash flow statements.

Accounts Payable (AP)

The AP module manages vendor invoices and payments. Key tasks include:

* Invoice Processing: Enter vendor invoices, match them to purchase orders, and approve them for payment. * Payment Processing: Generate payment batches, print checks, and process electronic payments. * Vendor Management: Maintain vendor records, including contact information, payment terms, and 1099 information.

Budget Management

This module allows for budget creation, allocation, and monitoring. Key tasks include:

* Budget Development: Create and submit budget requests. * Budget Allocation: Allocate approved budgets to specific accounts. * Budget Monitoring: Track actual spending against budget allocations and identify variances.

Purchasing/Procurement

This module manages the procurement process from requisition to purchase order. Key tasks include:

* Requisition Creation: Create and submit purchase requisitions for goods and services. * Purchase Order (PO) Generation: Generate purchase orders based on approved requisitions. * PO Tracking: Track the status of purchase orders and receiving.

Best Practices and Tips

* Use Valid Account Codes: Always ensure you are using the correct account codes for accurate financial reporting. * Document Everything: Keep detailed records of all transactions, including supporting documentation. * Regularly Reconcile Accounts: Reconcile bank statements and other accounts regularly to identify and correct discrepancies. * Seek Training: Attend training sessions offered by your institution to learn best practices and new features. * Utilize Help Resources: Banner Finance often includes built-in help documentation, FAQs, and user forums.

By understanding these core functionalities and following best practices, you can effectively utilize Banner Finance to manage your institution’s financial resources.