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What This Process Does
- Creates journal entries for the selected fiscal year and selected Journal ID.
- When the entry is saved, the undistributed amounts in the account masters in Financial Management are updated.
Requirements
- Account Masters and Year Masters - the Account Masters and Account Year Masters must exist and be active in order to save a Journal Entry.
Add Journal Entries
- Finance → Financial Management → J/E Tab → Add Journal Entries
- Populate the appropriate fields accordingly. When complete, click Save.
- The Journal Entry Audit Trail Report generates.
- Either print the Audit Trail report or view it on the screen. Review for accuracy. Set your flags.
| FIELDS | Opt. | Rec. | Req. | Description |
|---|---|---|---|---|
| Journal ID | — | — | ♦ | Dependent on the purpose of the journal entry |
| Use Default Journal Codes | ♦ | — | — | When the journal ID's are set up, default journal codes can be setup with the ID's which will default to the journal entry accounting fields if this option is flagged |
| Amended Budget Item | — | — | — | This field will automatically be flagged if the Budget Amendments ID is chosen |
| One-Sided Journal Entry | — | — | — | If your account type is Balance Sheet, you must flag this field if you are making a one-sided entry |
| Fiscal Year | — | — | ♦ | Fiscal Year in which the journal entry will be posted; this defaults based on what year is set up as the fiscal year default |
| Override Current Fiscal Month | — | — | — | Flagging this field allows you to override the default fiscal month |
| Fiscal Month | — | — | ♦ | Fiscal Month in which the journal entry will be posted; if the override current fiscal month has been chosen, use the drop down menu to choose the month the entry will be posted to |
| Account Type | — | — | ♦ | The type of account that is being updated; Expenditures, Revenue or Balance Sheet |
| Journal Entry Type | — | — | ♦ | If account type is Expenditures, the journal entry type is:
If account type is Revenue, the journal entry type is:
It is not applicable to Balance Sheet entries |
| Annual Budgeted Amount | — | — | — | This is a display only field; if the Journal ID for Original Budget or Budget Amendment is chosen, the amount that is currently budgeted to that account will display |
| Account Code | — | — | ♦ | The account code the entry is updating |
| Debit Code | — | — | ♦ | Defaults based on the Account Type, Journal Entry Type and Account Code; if the entry is a revenue account type, the debit code default flag can be removed and another account number entered |
| Credit Code | — | — | ♦ | Defaults based on the Account Type, Journal Entry Type and Account Code; if the entry is a expenditure account type, the debit code default flag can be removed and another account number entered |
| Control # | ♦ | — | — | User defined ID number used for tracking entries |
| J/E Reference # | — | — | — | Used to associate the journal entry back to the source document |
| Amount | — | — | ♦ | Dollar value of the entry |
| J/E Description | ♦ | — | — | Used to describe the purpose of the entry |
| Affect Date | — | — | ♦ | This field will display if you have the affect date bundle; it defaults to the system date; it's main purpose is to allow the user to control when cash is affected |
| Opt. = Optional Rec. = Recommended Req. = Required | ||||
Notes
- As journal entries are added and saved, they will display at the top of the screen in the order they are entered during the session.
- The View Last Journal Entry allows you to view and make changes to the last journal entry that was saved during the session.
- The session totals will serve as running totals until you close out of your current data entry session.