Journal Entry Procedures

Journal Entry Request forms (JEs) are used for inter-office transactions (sales of goods or services), adjustments, and posting corrections. JEs affect current month and year-to-date expenditures shown on monthly budget reports. Note: JEs do not change budget amounts.

Correcting Non-Payroll Errors

When you discover an error on your monthly budget report, email or call the Lead Senior Accountant to determine if a Journal Entry is needed. If your question is related to payment of an invoice, you can contact Accounts Payable for help. Please be ready to provide information about the error, it helps us to research the problem and prepare a Journal Entry if necessary.

Correcting Payroll Errors

When you discover an error relating to payroll on your monthly salary expenditure report, please contact Payroll Office for help to determine if a Journal Entry is necessary. See also Procedure for Inter-Departmental Charges

How to Fill Out Journal Entry Request

The Journal Entry Request form must provide the following information in order for the transaction to be processed:

  1. Reporting unit paying for the goods or services.
  2. Correct account coding, description, and amount to be paid.
  3. Reporting unit providing for the goods or services.
  4. Correct account coding, description, and amount to be received.
  5. Reasons for Journal Entry and attach receipts, invoices or other appropriate documentation.
  6. Printed names and authorized signatures of both reporting units, phone numbers, and dates.

Accounting Terminology

Debit: Reporting unit receiving or paying for the goods or services.

Credit: Reporting unit receiving the credit or payment of providing goods or services.

Avoid the terms "Transfer to" or "Transfer from." These terms could mean either a debit or a credit and cause unnecessary delays and errors.

Responsibilities

  • Review your monthly budget reports and make certain that all journal entries requested are processed.
  • Use the correct account coding.