What This Process Does


Through Journal Entries


  • Withdraws the amount out of the incorrect account code and moves it to reflect the correct account code.
  • The original activity associated with the incorrect transaction will still exist, however activity is now created which shows a negative coming out of the wrong account code and a positive going into the correct account code.


Through the Account Masters


  • Two journal entries are created automatically to account for the “Move” done in the Account Masters.
  • Eliminates the need to create two separate journal entries manually.


Best Practices


  • Account codes - for Expenditures, Revenue and Balance Sheet are affected through a variety of processes throughout the software in nearly all modules: Financial Management, Vendor Payments, Purchase Orders, Payroll, etc. These are known as the source modules for the activity. On occasion, the wrong account code is affected. Based on the situation, and when the error was discovered, the correction may be made in the source module by utilizing an undo process. Otherwise, the amount can be moved from the incorrect account code to the correct account code in Financial Management using the options outlined in this document.
  • Undo Processes – It is not recommended by RDA to run the undo processes in order to change the account code on a journal entry.


Moving Amounts Between Account Codes


  • At times, a transaction will be created where the wrong account code is used. When this happens, an amount can be moved from the wrong account code to the correct account code in two different ways:


  • Moving an amount through journal entries
  • Moving an amount through the Move feature in the Account Masters


..through Journal Entries


  1. Create two journal entries
  2. First Journal Entry:
    1. Populate fields with the exact same information as the incorrect transaction (including the wrong account code and amount).
    2. In the amount field, move your cursor to the right of the amount and type in a dash to indicate this amount is negative.
    3. Once all information is entered, click Save.
    4. Do not cancel out of the journal entry process.
  3. Second Journal Entry:
    1. Keep all fields exactly the same, except the account code and the amount.
    2. Change to the correct account code where the amount should be.
    3. Move the cursor to the right of the amount (should be negative) and delete the dash to indicate the amount is positive.
    4. Once all information is entered, click Save.
    5. Cancel out of the process.
  4. Review the Audit Trail
    1. The net affect of these entries should be zero. If the report is correct, set the flags.
  5. Run the Journal Entry Distribution
    1. If the report is correct, set the flags.
  6. Post the Activity
    1. If the report is correct, set the flags.


..through the Account Masters (Bundle FM 22 Required)


(refer to the above screen shot for an Expenditure Account Code)

  1. Access the Account Masters of the incorrect account code
    1. Modules → Finance → Financial Management → Query → View an Account Master → Expenditure/Revenue/GL
    2. Type in the account code and press Tab, or select the Browse button then locate the account code.
    3. Click the Years/Amounts button and choose your fiscal year.
  2. Depending on which journal entry type you wish to move:
    1. Click on the Move button located to the right of the screen near the Undistributed column.
    2. A screen will follow that requires fields to be populated according to which account code the amount will be moved to; be sure to select the correct processing period and Journal ID (review the Instructions tab for additional information).
    3. Once all fields are appropriately populated, click the Save button; followed by the Cancel button.
  3. Run the Audit Trail
    1. The report will show two transactions: A negative amount being moved out of one account code and a positive amount being moved into another account code.
    2. These two transactions represent journal entries that are automatically created once the Move process is done. It is identical to moving the amount by creating two journal entries as described in the previous section.
    3. The net affect of these entries should be zero. If the report is correct, set your flags.
  4. Run the Journal Entry Distribution
    1. If the report is correct, set the flags.
  5. Post the Activity
    1. If the report is correct, set the flags.