JOURNAL ENTRIES

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• JOURNAL ENTRIES

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• Journal EntriesIntroductionand Overview

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What is a Journal Entry?

• A journal entry in myUFL is a record of the
  accounting information for a business transaction
• A journal entry has a Journal ID, date,
  ChartField values, accounts, and amounts.
• In a journal, total debit must equal total
  credits.

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What is a Manual Journal Entry?

• A manual journal entry is a way to make changes
  directly to the General Ledger outside of a
  PeopleSoft Subsystem.

• A manual journal entry is used to document a
  business transaction that increases funds in one
  cost center and decreases funds in another cost
  center without a check being received or written.
  

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What is a Manual Journal Entry?

• A manual journal entry can be posted to the
  general ledger immediately.
• Note that subsystem (AP, EX, AR, etc.) journals
  are automatically created from subsystem
  transactions and posted to the GL through the
  nightly batch schedule.

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Why Use a Manual Journal Entry?

• To move cash
• Cash needs to be moved from one cost centerto
  another

• To correct subsystem errors
• Some errors in GL generated from subsystems can
  not be corrected through the subsystem.

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Why You Would Use a Manual Journal

• To correct data from legacy system or from
  conversion.
• To adjust Allocations
• To record Accruals or Year-End Adjustments for
  reporting purposes.

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Journal Entries vs. Other Solutions
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Journal Entries vs. Other Solutions
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Journal Entries vs. Other Solutions
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Journal Entries vs. Other Solutions
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Journal Entries vs. Other Solutions
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Guidelines for Journal Entries

• The transaction should follow UF accounting
  policies.
• All required values should be valid
• - Do not use any special characters in the
  header or template (such as lt gt ) or entry
  will fail to post properly
• - Use uppercase letters for all chartfields

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Guidelines for Journal Entries

• The journal should be balanced at Fund,
  Department, Project and Source of Fund.
• Sufficient balance should be available
• Check available balance before entering transfer
  amount

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Guidelines for Journal Entries

• Reviewed and submitted by personnel who are
  authorized by Department/ Unit Authorized Fiscal
  Officer, Director, or Dean
• Sponsored Research fund (201, 209, 211, 212, 213)
  transfers should be submitted by authorized CG
  staff or will require CGs approval for
  processing

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Three Methods to Prepare a Journal Entry
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Three Methods to Prepare a Journal Entry
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Three Methods to Prepare a Journal Entry
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Three Methods to Prepare a Journal Entry

• Note that the Excel Template is useful in all
  three methods.
• For departments with few journal transactions,
  Excel template is the final step.
• For departments using the other 2 methods, Excel
  template is a starting point.

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Journal Tasks vs. Security Roles
UF_GL_JOURNAL_POST is a core office security
role (for General Accounting).
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The Journal Entry Process
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Journal EntriesPrepare Journal
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Journal Entry Template
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Header Information(Refer to previous slide)

• Journal ID
• An internal list of journals your department has
  submitted.
• Department should maintain this list.
• Date
• Current date.
• UFID
• UFID of the preparer (8-digit numbers).

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Header Information

• Description
• Should be as clear as possible.
• If you are correcting a subsystem problem, tell
  us what was wrong.
• If you are transferring cash, then give the
  authorizing individual and the reason.

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Line Information

• Orange shaded areas
• Required for all entries.
• Green areas
• Required for projects
• Blue areas
• Needed for 171, 201, 209, 213 and 910 funds.
• Gray columns
• are not changed.

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Line Information

• Cells with a red triangle in the right corner
  have useful comments.
• If unsure of the fields required, or which set of
  ChartField values you should use
• Refer to the transaction detail or cost
  distribution report
• Most required values are cited there for a JE

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Line Information

• Also, refer to the Required Chartfields guide at

http//www.hr.ufl.edu/training/myUFL/toolkits/char
tfields.asp
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ChartField Information
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ChartField Information
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ChartField Information

• Program four digit number
• Describes the purpose for using the funds.
• See Program Use by Fund at

http//www.hr.ufl.edu/training/myUFL/toolkits/char
tfiels.aspfaq
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ChartField Information

• Account the GL Account, 6-digit number
• First digit indicates account type
• Most JE are cash transfers. Cash Transfers use a
  pair of accounts which offset each other
  (811xxx-571xxx).
• Refer to Account Groups and Definitions at
• http//fa.ufl.edu/ga/

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Account ChartField Information

• Revenue Correction Accounts
• 420000 Contracts Grants
  Revenues
• 430000 Trsfrs In From Component
  Units
• Cash Transfer Accounts
• 571100 and 811000 Transfers within University
• 571200 and 812000 Facilities Admin (CG Only)
• 571700 and 817000 Transfer In/Out Financial Aid
• 571800 and 818000 Transfers Within Fund

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Common Transactions
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ChartField Information
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ChartField Information
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ChartField Information
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ChartField Information
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ChartField Information

• Project Unit, Project, Activity and Analysis

Grant Event Const House
1 Varies by Project Varies by
Project Varies by Project
GLE, GLR GLE, GLR GLE, GLR GLE, GLR
8 Numerical Varies Alphanumeric Varies
Alphanumeric Alphanumeric starting with HS
GLE General Ledger Expense GLR General
Ledger Revenue Some core offices use different
analysis types for their transactions
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ChartField Information

• Amount is entered as debit or credit
• If you are debiting the dollar value is positive
• If you are crediting the dollar value is negative
• Remember expenses are increased by debit and
  revenues are increased by credit.

• Budget Date is the current date.

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ChartField Information

• Reference is used for additional information

• Description should include reference to the other
  side of the entry

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Journal EntriesEnter Journal Online
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Remember!

• Before creating a new journal, check the last
  sequence of your department journals in the
  system.
• Your new journal will be named in succession to
  your departments last journal.
• Journal ID Format ABCYYMMNNN
• (ABC is dept name, YY is calendar year, MM is
  calendar month, NNN is sequence number that
  increases regardless of change in month)

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Navigate to Journal Entry
General Ledger ? Journals ? Journal Entry ?
Create Journal Entries ?Find an Existing Value
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Find an Existing Value
Business Unit - Default UFLOR
Journal ID - First few characters
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Search Results Table
Therefore, next Journal ID will be SFA0809486
Note that the last Journal in the system is
SFA0809485
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To Create a Journal Entry
General Ledger ? Journals ? Journal Entry ?
Create Journal Entries
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To Create a Journal Entry
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To Create a Journal Entry
Journal ID and Journal Date are added to the
Header Information
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Header Tab
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Header Tab
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Lines Tab
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Lines Tab
Click to add a line
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Now, Journal is ready for edit.
Before Journal Edit Journal Status N (No
Status) ? Budget Status N (No Status)
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Journal EntriesJournal Edit
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Edit Process

• After a journal entry is created, it must be
  edited and budget checked before it can be posted
  to the general ledger.
• The edit process occurs
• After the journal entry is created
• Before it is posted to the general ledger

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Edit Process

• Validates ChartField information based on
  Combination Edits
• Confirms that debits equal credits
• Verifies the journal entry is balanced by fund,
  department, source of funds, and project
• Flags the journal for posting to the target
  ledger

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On the Lines Tab
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On the Lines Tab
After Journal Edit, verify that Journal Status
V (Valid Journal) ? Budget Status V (Valid
Budget Check)
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Journal Status Errors

• If journal does not pass edit check, journal
  status will be E (Journal has errors)

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Journal Status Errors
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Journal Status Errors

• Until journal passes journal edit, budget
  checking does not happen, so Budget Status N

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Common Journal Errors Solutions

• Combo Edit References
• Incorrect Combination Fund Code and Account

• Solution
• - Change fund code and account as required
• - Edit the journal again

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Common Journal Errors Solutions

• Incorrect Combination Program Code and Fund Code

• Solution
• - Review and change to program code appropriate
  for the fund
• - Edit the journal again

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Common Journal Errors Solutions

• Missing Department, Fund, Program Code, or Budget
  Reference or any combination of these fields

• Solution
• - Find and add missing chartfield
• - Edit the journal again

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Common Journal Errors Solutions

• Missing Source of Fund or using a wrong one

• Solution
• - Add Source of Fund. SOF is required for funds
  171, 201, 209, 213 and 910
• - Correct SOF
• - Edit the journal again

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Journal EntriesBudget Check
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Budget Check

• Online Edit Journal process edits and budget
  checks the journal
• Journal will have either V-V or V-E (Budget
  Errors) status.
• If status V-V, journal is ready to be posted.
• If status V-E, budget errors need to be
  corrected.

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Budget Check
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Budget Errors
Click on E under Budget Status to determine
cause of error
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Budget Errors
Click on Go to Budget Exceptions link
Note the Exception Exceeds Budget Tolerance
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Budget Error Solutions

• Exceeds Budget Tolerance
• Not enough funds available to make the transaction

• Solution
• Move expenses to another ChartField with enough
  budget / cash

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Budget Error Solutions

• Budget Date Out of Bounds
• Occurs when a grant has expired or does not
  continue through the journal date.

• Solution
• Contact appropriate Contract and Grants Office

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Budget Error Solutions

• No Budget Exists
• Occurs when a new combination of budget-level
  ChartFields is used

• Solution
• Confirm all ChartFields in the combination are
  correct
• Contact appropriate office to add zero dollar
  budget
• Cash-based funds General
  Accounting Contracts and Grants Projects
  CG Offices APPROP funds Budget
  Office

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Journal EntriesJournal Entry in Excel
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Getting Started

• Go to FA Forms website at
• http//fa.ufl.edu/forms/GA

• Download these three files into a designated
  folder on your drive

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Excel Security

• The first time you open the template (ufupl1),
  you may see an error message indicating you need
  to set Excel security.

Click OK
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Excel Security
Navigate to Tools ? Macro ? Security
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Excel Security
Set Security Level to Medium
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Excel Security

• Reopen the Upload workbook (ufupl1) and enable
  the Macros.

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In the Upload workbook (ufupl1)
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New Journal Header
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New Journal Header
ECG0809903
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New Journal Header
ECG0809903
12345678
Enter Description
Description
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Add Journal Lines
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Add Journal Lines
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Copy Lines from Journal Template to Journal
Upload workbook
Use Paste Special
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In the Journal Workbook
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In the Journal Workbook
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In the Journal Workbook
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Journal EntriesUpload Journal
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Spreadsheet Journal Import

• Navigation

General Ledger ? Journals ? Import Journals
? Spreadsheet Journals
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Spreadsheet Journal Import
Enter Run Control ID or create one, as required.
Click Search
Example
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Spreadsheet Journal Import
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Spreadsheet Journal Import
1. Click Browse to find file
2. Select (highlight) the file
4. Click Upload
3. Click Open
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Spreadsheet Journal Import
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Spreadsheet Journal Import
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Spreadsheet Journal Import
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Spreadsheet Journal Import
Click Refresh periodically until...
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Spreadsheet Journal Import
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Spreadsheet Journal Import
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Spreadsheet Journal Import
File is now uploaded to myUFL
Note that uploaded file still needs to be edited
and budget checked in the same way as the online
journal
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Upload Errors

• To determine the error
• Click Return
• Go to Process Detail page

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Upload Errors
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Upload Errors

• For example, this journal import was failed
  because of invalid project value. Fix the project
  value and try to upload again.

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Journal EntriesPost Journals
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Journal Posting

• General Accounting will review and post journals.

• When journal is ready to be posted (Journal
  StatusV, Budget StatusV), please email General
  Accounting at gljournal_at_admin.ufl.edu.

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Journal EntriesSummary
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Review
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Where do you find information?

• For Cash Transfershttp//fa.ufl.edu/ga/cash-tran
  sfer-procedure.asp
• For Journal files
• http//fa.ufl.edu/forms/GA
• For Chartfield informationhttp//fa.ufl.edu/ga/
• http//www.hr.ufl.edu/training/myUFL/toolkits/cha
  rtfields.asp

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Where do you find information?

• For Prior year PR correction not fixable by
  retroshttp//fa.ufl.edu/cg/prior-year-cost-tran
  sfer-procedure.asp
• For Current year PR corrections not correctable
  by retros (Coming soon)

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Contact General Accounting

• Phone [phone]
• Email gahelp_at_admin.ufl.edu

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• JOURNAL ENTRIES