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Director of Accounting Services
GL Administrator
GL Accounting Manager
GL Accountant
GL Specialist
GL Viewer
Journals - Processing Manual Journal Entries [PRO3000Z]
The Director of Accounting Services is responsible for ensuring that this document is necessary, reflects actual practice, and supports University policy.
General Ledger
N ®
Journals®Enter
B ®
New Journal
Journals
There are four common types of journal entries that have specific individual requirements in certain fields. See Supplemental References - GL All Users Student Manual or on the Integrated System "How do I...?" page, follow the links to the GL Specialist menu and look for details on the following common types of journal entries in the "References" section:
1. Open the Enter Journals window.
2. Select an accounting period from the LOV or key an open period in the MMM-YY format.
3. Accept or change the default Effective Date for the journal entry.
4. Enter a Category. Select from the List of Values (LOV) or key an exact value from the LOV. All lines in a journal entry share the same category.
USER TIP: Key UVA into the Category field then press [TAB] to see the list of UVA categories.
5. Balance Type is a display-only field. It displays Actual when you are entering actual journals and Budget for budget journals.
6. Enter a Description for the journal entry.
(Enter the date of deposit in IS date format:
DD-MON-YYYY if the journal is to record
credit card receipts or cash deposits).
NOTE: Whatever you key into this Header Description field (1) will be copied into the Line Description field (3) when you tab or click into the Line Number field (2).
7. Enter a Control Total to verify the total debits and total credits for the journal against the journal control total (this is the total of all cash and checks to be included in the deposit).
NOTE: Do NOT key a dollar sign ($) in the Control Total field. Doing so will lock the cursor in the Control Total field until the $ is removed.
8. Enter a Line number for each journal line. This controls the sequence in which the journal entry lines appear in reports and online.
9. In the Account field enter the appropriate Chart of Accounts (COA) segment values. Key the segment values directly into the field (if you know all of them), select them from flexfield’s LOV, or, whenever possible, select them from the list of aliases.
Commonly used COA segment values can be grouped into an "alias." When you select an alias the segment values included are inserted into the Account field as a group.
For all deposits, you will look for the suspense account alias for your division or department. It will insert the entire Suspense Account string for your division or department into the DEBIT line. See Deposit – Suspense Accounts [REF3009U] for a list of the aliases assigned to each department. To select an alias:
If you don't want to use an alias (e.g. you need to select Chart of Accounts segment values individually), do not open the Alias LOV; just click the [OK] button and proceed to the Accounting Flexfield screen.
or by pressing [Ctrl-L].
10. Tab to or click in the debit or credit column and key in the appropriate dollar amounts.
11. Tab to or click in the Line Description and change it if necessary.
NOTE: If you tab out of the Line Description field you will be taken to a Descriptive FlexField (DFF) as shown below. If you are not an ISIS user click [Cancel] then scroll left and click in the 'Account' field to continue your work. IS will automatically number the line with the next number in sequence.
IMPORTANT!!
CASH AND CREDIT CARD DEPOSITS require specific information in Header Description and the Line Description fields to support automated reconciliation with the Cash Management module. For more details see:
Deposit Cash Directly to Bank [REF3005U] for journal entries recording cash deposits.
12. Save your work.
13. Click Reserve Funds, then click [OK] on the Note screen.
NOTE: Clicking [Reserve Funds] should always result in the prompt indicating the transaction passed funds reservation. If you are trying to correct a journal entry and your Reserve Funds step results in a message indicating the reservation failed check the Period field. If it shows an accounting period (month) that is closed you must change the period to the current month before funds reservation will pass. Click More Actions ® Change Period.
NOTE: If you had not saved your journal prior to this point you would see the following prompt.
NOTE: When you click [Yes] the next prompt appears confirming your journal was saved into 3 separate tables of the General Ledger.
14. Click [Approve Batch] then click [OK].
If you are not self approving or when you exceed your Workflow dollar limit approval authority you received a prompt informing you that the journal has been forwarded for approval
15. The journal is now complete and is waiting to be posted. You should check your Notifications at the top of your Personal Home Page to verify that the journal posted.
NOTE: Posting can also be verified from the Journal Summary by using View ® Find to locate your journals. Open the journal and click [More Details]. The Status box indicates whether the journal is Posted or Unposted.
NOTE: This example assumes you did not have self-approval. When you exceed your Workflow dollar limit approval authority you receive a prompt informing you that the journal has been forwarded for approval.
16. You may click the Windows [Close] icon to return to the previous screen or choose File ® Close Form [F4] to return to the Navigator.
Effective: 06/03/05
Copyright 2004 University of Virginia and Oracle Corporation. All rights reserved.
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