Providing appropriate supporting materials for a financial transaction is an essential element of internal control. Proper documentation gives Journal Approvers adequate detail to ensure a transaction is reasonable and accurate, and helps to satisfy audit requirements.
While many journal entries are created through automatic processes, several types of journal entries are created manually. When manually creating journal entries in PeopleSoft, Journal Preparers must include the following two types of supporting information.
All journal entries must contain clear and concise descriptions. Descriptions should be complete enough for journal review and approval. Two types of descriptions are required for all journal entries:
- Journal Header Description (also referred to in PeopleSoft as Long Description) describes the overall journal entry
- Journal Line Descriptions describe each transaction line
Supporting documentation consists of source documents, supportive calculations, and/or other items necessary to substantiate the accuracy and appropriateness of a journal entry. Supporting documentation must be attached and available at the time the Journal Preparer submits the journal entry for approval.
Relevant supporting materials vary based on the type and purpose of a journal. Use the following guidelines to ensure journal submissions include appropriate supporting documentation for the most commonly prepared journal types.
Source Code | 320 - Cash Receipt | 535 - Financial Journal | 545 - Sponsored Research Regular Cost Transfer |
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Purpose | Used to record receipt of cash and checks from third parties (not used for sponsored research projects and awards, gifts, or payments for department accounts receivable invoices) | Used to record non-payroll adjustments or to correct chartfields for non-sponsored funds and projects | Used to transfer expenses between chartstrings when the source or target is a sponsored project |
Journal Header Description guidelines |
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Indicate why the journal entry is necessary or what the entry is attempting to accomplish.
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Enter a description that adequately describes the purpose of the transfer.
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Journal Line Description guidelines |
Bank Reference Number
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Must be a clear and concise description of each transaction line | Must be a clear and concise description of each transaction line |
Required supporting documentation |
Attached documentation should support the amounts within the journal and the chartstring used.
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Attached documentation should support amounts within the journal and the chartstrings used.
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For all Cost Transfers:
Additional Attachments For Late Cost Transfers:
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Tips |
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Redact personal sensitive or confidential information, such as personal identification or account numbers and loan information: (click thumbnail for image) |
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For more information |
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All journals are created in PeopleSoft by a Journal Preparer and approved by a Journal Approver. 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. Read Understanding Journals to learn more about journals, including how to become a PeopleSoft Journal Preparer or Approver. Review Moving Money and Using PeopleSoft Journals for more detailed information once your PeopleSoft journal access has been approved.
If you have additional questions, please contact:
- Cash related journals: [email protected]
- Contracts & Grants (CGA) related journals: [email protected]
- General Accounting & Reporting related journals: [email protected]