JOURNAL ENTRY APPROVAL AND SUPPORTING DOCUMENTATION

Contact: University Accountant

Campus controllers authorize Financial Services to provide journal entry source codes that identify areas or persons they authorize to submit spreadsheet journal entries (journal entries). These entries are used to reallocate, adjust, correct, or transfer funds in the accounting system. Anyone can download the Excel spreadsheet journal entry template from the Financial Services web page and create a journal entry, but only authorized users are allowed to upload the journal into the accounting system. Instructions on how to use the spreadsheet journal entry template can be found on the Financial Services web page. A complete list of journal sources with contact names and phone numbers for both subsystem and spreadsheet journal entries is also found on the Financial Services web page.

Campus Controllers are responsible to establish journal entry review and approval procedures within their areas (including which personnel are not required to have their journal entries reviewed and approved.) Adequacy and propriety of journal entry documentation will periodically be reviewed and evaluated by Financial Services.

Supporting Documentation

1. All journal IDs should contain an explanation (separate from the 30 character line description) describing the purpose of the entry. This journal header description should be detailed enough to allow a business officer from another college or division to understand the purpose of the entry without examining the supporting detail (see Journal Entry Example).
2. Journal entries involving Sponsored Research project Operating Units (Rxxxxxxx) must be segregated from other journal entries, be approved by the principle investigator and be submitted to the Research Accounting Office with adequate supporting documentation.
3. Journal entries not involving Research Operating Units should be uploaded using the spreadsheet template by clicking the Validate and Upload macro button.
4. Support transfer adjustments are subject to the Transaction Processing Guidelines outlined on the Financial Services web page.
5. Reclassifications of Class-only entries requires no supporting documentation or explanation.
6. Adequate supporting documentation (or sufficient reference information to easily locate the adequate supporting documentation), must be retained in the department for ten years.
7. Campus departments that upload electronic subsystem journal entries are also under the same obligation to retain supporting documentation for the prescribed period.