How to Create PeopleSoft Journals in Foreign Currency

This step-by-step guide explains the differences between creating journals in foreign currency and U.S. dollars.

About PeopleSoft Local Ledgers for Foreign Currency

UCSF maintains LOCAL ledgers in PeopleSoft for the following foreign Business Units:

  • SFNKE – Kenya, Kenyan Shilling (KES)
  • SFNLA – Laos, Laotian Kip (LAK)
  • SFNMZ – Mozambique, Mozambican Metical (MZN)
  • SFNNA – Namibia, Namibian Dollar (NAD)
  • SFNTZ – Tanzania, Tanzanian Shilling (TZS)
  • SFNUG – Uganda, Ugandan Shilling (UGX)
  • SFNZA – South Africa, South African Rand (ZAR)

The LOCAL ledger allows entry of journal lines in the corresponding currency. At the end of each month, approved journals are converted from the foreign currency to U.S. dollars (USD) in the ACTUALS ledger.

This guide explains the differences between creating journals in foreign currency and U.S. dollars. See the end of this guide for links to general journal guidance.

Logging into PeopleSoft and Navigating to the Create/Update Journal Entries Page

  1. Log into MyAccess (opens in new window) (not shown). Scroll down to locate and select PeopleSoft from the application menu. If you have set MyAccess to display "Favorites", you may need to change to "All Apps" or search for PeopleSoft.
  2. Click on the General Ledger tile, then on the Create/Update Journal Entries tile . The Create/Update Journal Entries page displays.

How to Begin a New Foreign Currency PeopleSoft Journal

You must select a foreign Business Unit to enter data in foreign currency.

  1. Click on the Add a New Value tab. (not shown)
  2. Select the appropriate foreign Business Unit; do not select SFNGO .
  3. Click the Add button .

How to Complete the Foreign Currency Journal

  1. Before entering any information for a new foreign journal, confirm that the Ledger Group is set to LOCAL on the Header tab .
  2. Only financial journals should be submitted for foreign currency. Enter Source Code 535 .
  3. Attach any required documentation by clicking the Attachments link .
  4. Click on the Lines tab .
  5. Enter the required debit and credit lines, run the Edit Journal process until the journal is in Valid status, and then Submit the journal for approval (not shown).
Only foreign currency amounts should be entered. Do not enter USD lines; an automated translation process converts foreign currency in the LOCAL ledgers to USD in the ACTUALS ledgers.

For complete details on completing a Source code 535 journal, see How to Prepare, Edit, and Submit Financial Journals (Source Code 535) (opens in new window).

Understanding the Foreign Currency Journal Translation Process

An automated translation process is run at the end of each month in PeopleSoft that converts all foreign journals entered into the LOCAL ledgers to US Dollars and moves the USD amounts into the ACTUALS ledgers of each Business Unit.

To confirm the results of a translated journal, search for journals beginning with TRNS within the appropriate Business Unit on the Find an Existing Value tab of the Create/Update Journal Entries page .

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