Additions - Creating Journal Entries in GL

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Distribution

Director of Accounting Services

GL Administrator

GL Accounting Manager

GL Accountant

GL Specialist

GL Viewer

Related Procedures

Journals - Processing Manual Journal Entries

Ownership

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

Types of 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 the web-based reference documents for details on the following common types of journal entries:

Deposit Cash Directly to Bank [REF3005U]
Deposit - Credit Cards [REF3006U]
Transfer - Imputed Interest [REF3008U]

Journal Header

1. Open the Enter Journals window.

Enter a Journal name following the guidelines in Naming Convention - Journal Entries and Batches .
If you do not enter a journal name, General Ledger automatically assigns a name using the following format:
Manual<System generated Journal ID number> <Date>.

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.

Note: Balance Type is a display-only field. It displays 'Actual' when you are entering actual journals and Budget for budget journals.

5. Enter a Description for the journal entry.

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).

6. 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.

Journal Details

7. Enter a Line number for each journal line. This controls the sequence in which the journal entry lines appear in reports and online.

After you enter the first journal entry line number, General Ledger automatically increments the numbers for the next lines.
You can change the line numbers as desired.

8. In the Account field enter the appropriate Chart of Accounts 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.

Using an Alias

Commonly used 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.

If you deposit cash directly to the Bank of America, the "Cash Deposits at BOA" alias will insert the entire Account string for your DEBIT line. To select an alias:

Click the List of Values (LOV) icon or press Ctrl-L
The Alias screen appears (shown in previous screen shot). Use the LOV icon or Ctrl-L to see the list of aliases.
Select the alias you want and click ‘‘OK’’, or

Select Segments from LOV

If 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.

The Accounting FlexField screen appears (next screen shot). Segment values can be keyed directly into the appropriate fields or, each field's List of Values can be opened with the LOV icon (circled) or by pressing Ctrl-L.

When all fields are completed click the button: ‘OK’.

9. Tab to or click in the debit or credit column and key in the appropriate dollar amounts.

10. 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.

Approving the Journal

11. Save your work.

12. Click the More Actions button.

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 the [More Actions] button again.

15. Click the [Approve Batch] button, then click [OK].

Notifications

16. 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.

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Note: This example assumes you had self-approval authority for the net dollar amount of the journal. If you had exceeded your Workflow dollar limit approval authority you would have received a prompt informing you that the journal had been forwarded for approval.

17. 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: 08/18/04

Revision: 2