Abstract
By using an electronic spreadsheet in tandem with accounts payable activities in the fund-level-specific acquisitions module of an integrated library system (ILS), a library can assure itself of meeting institutional audit requirements. This additional step of T-ledger “journal” monitoring at the payee level does not involve a great deal of time when compared with the frustration of audit trail reconstruction relying solely on the limited sorting and proprietary data output capabilities of the ILS. In addition, true reconciliation with the institution's Business Office reports through use of this dual methodology provides the library with an accurate as well as timely cash-balance figure at the close of progressive report periods. It also enables budget-expenditure progress to be measured against previous calendar or fiscal year periods for either a random or cumulative average history.
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