What this process does


  • Amends budgeted amounts in Account Year Maintain Master
  • Creates journal entries for the selected fiscal year and selected Journal ID.
  • When saving, the undistributed amounts in the account masters in Financial Management are updated.


Amending a Budget via Journal Entries


  1. Finance → Financial Management → J/E Tab → Add Journal Entries
  2. Populate applicable fields using the screen shot and field description below as a guide.
  3. Click the Save button once all fields are populated.  Repeat step two if necessary.
  4. Click the Finished button once all journal entries have been entered.
  5. Upon saving, errors and/or warnings will display if required fields are not populated.


FIELDSOpt.Rec.Req.Description
Journal ID——♦AMENDMENTS
Fiscal Year——♦Year in which the amendment should occur
Override Current Month♦——Overrides the default month set in Financial Management
Fiscal Month——♦Month in which the amendment should occur
Account Type——♦Expenditure/Revenue
Journal Entry Type———Appropriation/Estimated Revenue
Annual Budgeted Amount♦——Current budgeted amount will display
Account Code——♦The account code that is being amended
Debit Code——♦Defaults based on the Account Type, Journal Entry Type and Account Code
Credit Code——♦Defaults based on the Account Type, Journal Entry Type and Account Code
Control Number♦——User defined ID number used for tracking entries entered during current session
J/E Reference Number♦——Used to associate the journal entry back to the source document
Amount——♦Enter the amount that budget should be increased by [positive amount] or decreased by [negative amount]
Description♦——Used to group/categorize journal entries
Opt. = Optional  Rec. = Recommended  Req. = Required


Audit Trail


  • Sets the Source User Verified flag on the Journal Entry Maintain Screen to true.
  • Once set, journal entries can be deleted but NOT changed.
  • Journal entries must be verified BEFORE you can distribute them.
  • Amount displays in the Undistributed


Distribution


  • Journal Entries must be Source User Verified before distributing.
  • Sets the Distributed flag on the Journal Entry Maintain Screen to true.
  • CANNOT be deleted or changed. The distribution process must be undone for the journal entry to be deleted.
  • Journal entries must be distributed BEFORE posting.


Posting Activity


  • Amount is moved from the Distributed column to the Posted column of the account master.
  • If found that a transaction is incorrect, it is not necessary to UNPOST. Undo the distribution and the audit trail for the transaction. These undo processes will create negative transactions that once posted will negate the posted transactions.