Gl Workshop Online Journal Entry

Manual Journal Option ASubmit for Approval Approve & Post Journal ENTERER MANAGEMENT ACCOUNTANT... Header – Enter a journal long description, change the Ledger Group if necessary, use th

Online Journal Entry Finance Business Solutions

Finance Business Solutions – User Support & Training

• Overview

• Creating and Editing Journals

• Attaching Supporting documents

• Approval and Posting

• Scenarios

• Journals with Error

• Deleting and Copying Journals

Journals Overview

Manual Journals

There are two ways to process Manual Journals

Manual Journal Option A

Submit for Approval

Approve & Post Journal

ENTERER

MANAGEMENT ACCOUNTANT

Business Unit: UNSWA

Header – Enter a journal long description, change the Ledger Group if necessary, use the journal

source as ONL unless otherwise instructed and add attachments

Lines - enter your journal lines.

Totals - ensure your journal line totals balance to zero (i.e., your debits should equal your credits).

Errors - check your journal errors (useful only after you have edit checked the journal).

Approval – approvers use this tab to approve or deny the journal.

Approvers – select the person who is responsible for approving the journal

Long Description

• What - is being transferred/ corrected

• Where - it is being transferred to/from

• Why - the original transaction was incorrect

• Who - is requesting and who is approving the journal

• When - what timeframes are the journal in relation to

• How - what supporting documentation there is to substantiate the reason

for a manual journal e.g reference to emails, reports, invoices, drill-downs

50 characters

 Correction Journals should have a document that shows the original entry (nVision reports)

 Transferring a group of expenses must have drilldown as backup

 Multiple attachments can be uploaded

Attach any supporting documents relevant to the journal

Line Item Description

The line description should clearly explain each journal line item and should contain enough relevant information for stakeholders to identify what the line item relates to

It is up to the discretion of the relevant Finance teams within each Faculty/Division as to the application of naming conventions in the Line Item Description, however Finance recommends

to use the naming convention given on the next slide;

Action Codes & Description

Codes Descriptions

COR When correcting an error in the original transaction's chart-field

PCO When correcting payroll expenditure which has been posted to an

incorrect chart-field ICH When processing internal charges between Faculty’s/Division’s

following the supply of a product or service INT To be used for interest distribution

REV To reverse an incorrectly posted journal

RAC To reverse an incorrectly posted accrual

TRF To transfer from one chart field to another

CAP When correcting capital expenditure

PRE When expensing the ‘used’ portion of a payment made in advance

ACC When accruing for the cost of goods or services which have been

incurred in one accounting period but not paid in that period

/// /

Expense Account – Journal Entry to transfer from PS30614 to PS24321

1

Expense Account – Journal Entry to transfer from PS19433 to PS26329 (refer to scenario sheet)

Revenue Account – Journal Entry to transfer from PS19319 to PS19317 (refer to scenario sheet)

2

3

Expense Account Journal – Expense was coded to PS30614 which is incorrect project

It should have been coded to PS26329

Header Entry- Scenario 1

Line Entry

Personalise Screen

Line Entry

Select Approver and Save the Journal

Save

Edit Journal Process

Journal and Budget Status

Manual Journal Option A

Submit for Approval

Approve & Post Journal

ENTERER

MANAGEMENT ACCOUNTANT

Option A*: Submit for Approval

Pending Approval

///

Manual Journal Option A

Submit for Approval

Approve & Post Journal

ENTERER

MANAGEMENT ACCOUNTANT

Option B * : Send for Review

* Refer to slide 5 for more information on Options

Option B * : Send for Review

Option B * : Workflow to Reviewer

Option B*: Journal Review

Either inform the enterer via notify button or send an email via outlook

//

Journal Approval

Menu for

Approvers

Journal Approval

Post Journal

Approver to

Journals with errors

Contact your Management Accountant

http://www.fin.unsw.edu.au/InformationCentre/WhoCanHelp.html#8

Deleting Journals

Journals cannot be deleted once posted to the Ledger Create another journal to correct the error

Copying Journals

Template List

Change Values

Journal Entry and Approval

/// / Journal Approver

1 Enter journal Long Description

2 Add attachments

3 Enter Journal Lines

4 Select Approver

5 Save Journal

6 Edit Journal Process

7 Notify or Submit for approval

8 If Notifying reviewer then submit later

 View Journal for Approval – Link in the email

– Worklist – Journals/ Journal Entry/ Manage Journal Approver

 Check accounting and Chartfields

 Review supporting documents

 Approve Journal

 Post Journal

Workflow will be sent to the Approver Journal Enterer

Workflow will be sent to the Reviewer

Journal Reviewer  Review Journal – Link in the email

– Check accounting and Chartfields

 Review supporting documents

 Once reviewed inform journal enterer via email or notify button

Who Can Help?

For any Accounting Assistance contact your Management Accountant or Finance Manager

User Support & Training

• Finance Website – Training