Campus Buy/Sell Journal Entries

Campus Buy/Sell Journal Entry Process

Campus Buy/Sell Journal Entries (formerly Campus Purchase Orders – CPOs) record interdepartmental transactions for selling departments that do not utilize a direct billing system. Campus Buy/Sell Journal Entries are created as follows:

1. Buyer contacts the selling department via email or telephone to request a product or service.

   1. Terms of the purchase will be determined and communicated. Buyer’s authorization to proceed will be made clear.
   2. Buyer will provide seller the operating unit, account, and class to be charged.

   3. (Optional) For clarity of report information, buyer may provide the selling department with key information to be used when the product or service is to be billed. This can be accomplished by filling out a blank spreadsheet journal entry template and emailing it to the seller. Buyer information to be included on the template:

      1. Journal header description (254 characters maximum)
      2. Journal line descriptions (30 characters maximum)
      3. Operating unit, account and class
      4. (Optional) Agreed upon price. Seller may also add the price at the time the campus buy/sell journal entry is completed.
2. The journal line description field (up to 30 characters) should be populated with meaningful information. Generally, the description appearing on the financial report should tell the reader what was purchased and who purchased the good or service. The reference (up to 10 characters) and journal line date fields can also be used to provide additional information.
3. Seller will normally add its own accounting coding to the journal entry template and process the entry to complete the transaction upon delivery of products or services. However, seller and buyer may agree that buyer will obtain the seller’s operating unit, account and class and submit the journal entry instead of the selling department.
4. Backup documentation will be provided to the buying department when necessary. Additionally, the journal submitter may provide backup documentation with a copy of the journal entry to AP Imaging (in the Blue Envelope) to allow imaged documentation to be accessible through queries.
5. The current Spreadsheet Journal Entry Template and an example of a Campus Buy/Sell Journal Entry are located on the Financial Services Web Site: Forms > Journal Entry and Budget Adjustment > Journal Entry Template or Campus BUY/SELL Journal Entry Example.

Last updated: 09/01/2007