Compound Journal Entry

The compound journal entry form is used to move "real" dollars from one acct/obj code to another acct/obj code.  This form should not be used to move 'budget' dollars.  Budget dollars are those monies which have been allocated to your department.   Real dollars are those monies which are paid out or received by the University.   Compound Journal Entries create original transactions in FRS.

FRS requires only two fields on Compound Journal transactions, however all fields on the form should be completed for the most accurate information to be recorded.

Debit Acct/Object - (10 digits) this field represents the account and object code that you want to charge for the transaction.

Reference # - (7 characters) this field is used to record reference information for the transaction.   Voucher #; PO #; encumbrance #; initials; and dates are examples of information that can be used in the reference field.

Trans Date - (4 digits format mm/dd) this field is used for the date of the transaction.   This date should be the date of the transaction and within the current month's processing timeline.   Do not use the year in this field.  

Description - (20 characters) this field is used to describe the transaction that you are creating.   Use abbreviations if the description is longer than 20 characters (spaces are considered a character).   This description will appear on FRS screens 23 and 27 and also on the month end reports.   Use the description field to record dates which are outside of the current month.

Amount - (11 digits) use the gross amount of the transaction.   Do not use the dollar sign ($) on the form.

P/F - (1 character) the valid values of this field are P and F only.   The field is used only when liquidating an encumbrance which is referenced in the Reference # field and which exists in FRS.

Credit Acct/Object - (10 digits) this field represents the account and object code that you want to credit for the transaction.

Explanation/Remarks : - this field is not used for key entry into FRS, however it should be used to give further explanation of the transactions) on the form.

Supporting documentation that supports the transactions) on the form should be stapled to the form in the bottom right hand corner of the form.

One common use of the compound journal entry transaction would be to create an original entry.   For example, your department is receiving contributions for a speaker from several other departments.   Your department will be making the entries for all the contributing departments.   Use the compound journal entry form to charge the departmental accounts their share of the total and credit your department for the total amount of the contribution.   Supporting documentation for original entries may consist of memos between the two departments regarding the speaker/activity.

Sample compound journal entry

The Financial Information Seminar will be sponsored by the Controller's Office, ITS and the Human Resources Office.   Financial Services will pay all the bills from its account and the ITS and Human Resources departments will contribute 1/3 of the costs.   The costs are to be $150.00 and ITS and HR will be paying $50.00 each.

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The original form should be sent to Data Control in Financial Services.   CC's should be noted in the upper right hand corner of the form and distribution is the responsibility of the originating department