TouchNet: Banner Integration and Accounting Cost Codes

The Banner integration feature within TouchNet allows universities to associate specific accounting cost codes with each event hosted through the system. This integration is particularly beneficial for universities as it helps in tracking and managing revenue generated from ticket sales directly linked to various departments or cost centers on campus.

The primary purpose of the Banner integration with TouchNet is to provide universities with a robust financial tracking mechanism for events. By assigning accounting cost codes to each event, universities can:

• Financial Tracking: Directly link ticket sales revenue to specific departments or cost centers, enabling accurate financial reporting.

• Budget Management: Facilitate effective budget management by understanding the financial impact of events on departmental budgets.

Enabling General Ledger Accounting Codes

In accounting terminology, the General Ledger refers to the primary bookkeeping record that tracks all financial transactions within an organization or institution. Banner is a service offered by TouchNet specifically tailored for campus-wide financial management and accounting. It serves as a comprehensive system for managing funds, transactions, and financial reporting across various departments within universities.

If your institution uses TouchNet, you can enable the General Ledger Accounting Codes feature by following these steps:

• Switch to using TouchNet Merchant account by following these steps
• Still under settings, navigate to Preferences

• Scroll down and select Enable general ledger accounting codes

Using General Ledger Account Codes

Once enabled, you will see an additional option on the event creation page within TouchNet, labeled General Ledger Account Codes. This feature allows you to select from a list of predefined accounting cost codes or choose to leave it unspecified ("No Code").

• Navigate to the event page
• Under The Basics you will see the new option of General ledger account code

• Choose the appropriate accounting cost code that corresponds to the event or ticket sales

The specific codes created will be associated with each event or program to track the destination of funds. These codes, integrated with Banner, facilitate the routing of payments to designated departments based on the code applied. This system is crucial for tracking sales by department and ensuring accurate allocation of funds for each event. Banner uniquely enables tracking funds directly to the processor handling transactions, providing comprehensive financial oversight.

Managing Codes

By selecting Manage account codes, you can add new codes, edit or delete existing ones.