Moving Money and Using PeopleSoft Journals
Moving Money
The method used to transfer money or balances (e.g., "move money") depends on the Account Type. Specific Accounts and Account Types must be used consistently to ensure that reporting is accurate, clear, and consistent. Refer to the Moving Money Quick Reference Guide for details on:
- Proper use of Account and Account Type with descriptions
- Type, method, example, and Accounts (debit and credit) to use for transfers within the campus
- Method, example, and Accounts (Business Unit dependent) to use for transfers between the campus and UCSF Health
How to Move Money - Journals in PeopleSoft
The purpose of a journal entry is to record a financial transaction in the general ledger (PeopleSoft Financial System) in order to ensure our general ledger accurately capture the related financial activity.
Journals are used for many purposes including:
- Record financial transactions in the general ledger
- Correct previously recorded coding errors
- Record payroll and non-payroll adjustments
- Move money for revenue, expenses, support, and external recharges
- Net position transfers
- Internal recharges
At UCSF, the journal source code is used to identify the type and purpose of a journal.
|
Source Code |
Description |
|---|---|
|
320 |
Cash Receipt – used to record receipt of cash and checks from third parties (not used for sponsored research projects/awards, gifts, or payments for department accounts receivable invoices) |
|
323 |
Credit Card Receipts – used to record credit card receipts from third parties |
|
535 |
Financial Journal – used to record non-payroll adjustments or to correct chartfields for non-sponsored projects |
|
545 |
Regular Cost Transfer – used to transfer expenses between chartstrings when the source or target is a sponsored project |
|
547 |
Exception Cost Transfer – used to transfer exceptional payroll expenses, including vacation accrual, or lump sum cost overruns |
|
555 |
Recharge-Direct – used to record recharge debits/credits for approved Recharge Units (with a Recharge Project ID) |
All journals are created in PeopleSoft by a Journal Preparer and approved by a Journal Approval. Journal Preparers and Approvers are designated by their department and must complete training before they are provisioned their role in PeopleSoft. Not all Source Codes are available to all PeopleSoft Journal Preparers and Approvers. In addition, some Source Codes require additional workflow for approval by the Control Point or the Controller's Office. These include:
- 535 Financial Journals
- 530 Student Financial Aid Offsets
- 545 Direct Cost Transfers
- 547 Payroll Exception Cost Transfers
- 555 Direct Recharges
Read Understanding Journals to learn more about journals, including how to become a PeopleSoft Journal Preparer or Approver.