Simple
Journal Entry
Simple
Journal Entry Form
The
simple 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.
Simple Journal Entries create original transactions in FRS.
FRS
requires only three fields on Simple 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 transaction(s) on the form.
Supporting
documentation
that supports the transaction(s) on the form should be stapled to the form
in the bottom right hand corner of the form.
One
common reason for using the journal entry form would be to make
corrections to your account. However,
don't fix it until it's wrong. Wait until the
suspected entry has been processed and incorrectly posted. For
example, an Accounts Payable Voucher is sent to Financial
Services with the wrong account number. The next day you
realize that the wrong account number was used, and send a journal entry
to correct the error. FRS has many checks and balances which
MAY catch the mistake. If the error is caught by the system
edits, then the correction will be taken care of by Financial Services and a journal entry is
unnecessary. Supporting
documentation for a correction entry is not necessary if the reference
field points the researcher to the original documentation.
Another
common use of the journal entry transaction would be to create an original
entry. For example, your
department is contributing to a speaker being sponsored by another
department.
Use the journal entry form to charge your account and credit
the 2nd department for the amount of the contribution. Supporting documentation for original entries may consist of memos
between the two departments regarding the speaker.
Up
to 10 simple journal entries can be recorded on the same form.
The total of all the transactions on the form should be
recorded in the box marked Total.
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
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