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Department of Finance
1 Ohio University
Ridges Building #18, 3rd Floor
Athens, OH 45701
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Finance

Journal Categories & Descriptions

JOURNAL CATEGORIES & DESCRIPTIONS

There are eleven possible journal categories to choose from. Please take the time to pick the correct category from the following list.

ACCRUAL: Use for adjustments to accrual balance sheet accounts to include both accrued expenses – expenses incurred but not yet paid and accrued revenue – revenue that has been earned but for which payment has not yet been received.  Includes all AP (Accounts Payable) and AR (Accounts Receivable) entries including subsequent reversals or recognition entries

  • Journal Short Description: Short Title of Accrual & Time Period.
    • Example 1: Book payables for Bobcat Depot at 6/30/19.
    • Example 2: Accrue Men’s BB Camp revenue held in June 2019.
  • Journal Header Long Description: Include a full description of Title of Accrual & Time Period as a whole as well as contact information such as name/number/email.
    • Example 1: Book payables for Bobcat Depot at 6/30/19. Joe Smith Smith@ohio.edu 7-9999
    • Example 2: Book AR for Men's BB Camp held in June but monies received in July.  Joe Smith Smith@ohio.edu 7-9999
  • Line Description: Detail that supports the accrual transaction including all invoice information.  
    • Example 1: Record Payable for Invoice 987-451 dated 7/1/19; Apple; PO 45447; Q=27 Ipads.  Goods received 6/30/19 but invoice not recd until after AP deadline for 2nd close invoices.
    • Example 2: Book AR for Men's BB Camp held in June but monies not deposited until July - 5524934 Boys' Basketball Team Camp Receipt Number - 2003778 Document Number 7/10/2019.

ADJUSTMENT: Use for other adjustments, Inventory cost of goods sold adjustments & other inventory adjustments, Endowment distributions, Indirect cost adjustments, Loans, Revenue allocations, Sales Tax adjustments, escheatment entries, Payroll Dept overpayments/adjustments, etc. & also any associated corrections to these types of entries. Adjustments also include bank account entries such as interest income and bank fees, merchant service fee allocations and waiver and scholarship allocations, as well as corrections to any of these types of entries.

  • Journal Short Description: Short description of what is occurring. 
    • Example 1: Airport inventory adjustments January 2019.
    • Example 2: Cost of Goods sold Campus Rec Inventory January 2019.
  • Journal Header Long Description: Include a full description of what is occurring as a whole as well as contact information such as name/number/email.
    • Example 1: Airport inventory adjustments January 2019. Joe Smith   Smith@ohio.edu 7-9999
    • Example 2: Cost of Goods sold Campus Rec Inventory January 2019 Joe Smith Smith@ohio.edu 7-9999.
  • Line Description: Detail that supports adjustment.  
    • Example 1: Reduction of King Air parts inventory and increasing the cost of goods sold for Airport Operations.
    • Example 2: Adjusting inventory to actual for Golf ball inventory counts occurring 12/31/18.

AUTOACCOUNTING: (FINANCE USE ONLY) Use to correct auto-accounting on IDC and Revenue from Mass Adjust process (current FY time period).  Could include transfer codes used in Mass Adjust process.

  • Journal Short Description: Correct auto-accounting on IDC and Revenue from mass adjust (current FY time period).
    • Example 1: Correct Revenue/IDC autoaccounting source from mass adjust FY19                 
  • Journal Header Long Description: Correct auto-accounting on IDC and Revenue from mass adjust (current FY time period) including detail of segments and PTA corrected and contact information such as name/number/email.
  • Example 1: Correct Revenue and IDC auto-accounting from source 445200 to 443000 on PTA 15016-18-1334664 for FY19. Cindy Perry perryc@ohio.edu 7-9999. 
  • Line Description: Correct Revenue or IDC including detail of segments and PTA corrected.  
    • Example 1: Correct Revenue and IDC auto-accounting from source 445200 to 443000 on PTA 15016-18-1334664 for FY19.

BALANCE ROLLFORWARD: (FINANCE USE ONLY) Used to roll fund balances forward. (Object code 300200 on both sides of the transaction. July entries only).

  • Journal Short Description: Short description of what is occurring. 
    • Example 1: Adjust fund balance for Finance.                           
  • Journal Header Long Description: Include a full description of what is occurring as a whole as well as contact information such as name/number/email.
    • Example 1: Adjust fund balance for Finance departmental accounts. Joe Smith Smith@ohio.edu 7-9999
  • Line Description: Detail that supports adjustment.  
    • Example 1: Adjust fund balance for GAFR designated accounts. 

CORRECTIONS-A/P: Use for corrections where the original transaction to correct is an invoice paid through a Purchase Order or a Payment Request Form/Direct Payment Form.  This also includes student travel, reimbursements, or other items turned in on paper and keyed into Oracle by the AP office. Includes reallocations of AP payments. Includes corrections to AP credit memos.

  • Journal Short Description: Short description of why the correction is necessary. 
    • Example 1: Correcting the organization codes on invoices.
    • Example 2: Correcting the activity code charged on a payment request.                                       
  • Journal Header Long Description: Include a full description of why the correction is necessary as a whole as well as contact information such as name/number/email.
    • Example 1: Correcting invoices charged to wrong organization codes. Joe Smith Smith@ohio.edu 7-9999
    • Example 2: Correcting activity codes on payment requests due to newly established segment. Joe Smith Smith@ohio.edu 7-9999
  • Line Description: Detail that supports the accounting transaction. Including original transaction # & date posted; Supplier, full invoice description, expenditure item date, etc.
    • Example 1: Change org code from 20100 to 200110 - 441873 | Smith, Joe L | SCIQUEST C0085611 Inv Date:09-MAY-19 GL Date:09-MAY-19 CHECK | INV#:312565402001 | OFFICE DEPOT INC | $118.07 | Dial(R) Basics Liquid Hand Soap, 7.5 Oz.
    • Example 2: Change activity code from 0000 to 7699 1251326 | INV# 8585-ATHENS FILM FESTIVAL SCREENING FEES | 8585 | INV# 8585-ATHENS FILM FESTIVAL SCREENING FEES

CORRECTIONS-INTERNAL BILL: Use for corrections where the original transaction to correct is an Internal Billing.  Also use for allocations/reallocations using 48XXXX or 78XXXX.  This category is for object codes 48XXXX and/or 78XXXX only where the last four digits of the object codes balance to zero.

  • Journal Short Description: Short description of why the correction is necessary. 
    • Example 1: To credit duplicate charge on FA-1234567 for OCT 2020
    • Example 2: Correct Internal Billing charged to PTA in error
  • Journal Header Long Description: Include a full description of why the correction is necessary as a whole as well as contact information such as name/number/email.
    • Example 1: To credit duplicate charge (Parts only) on FA-1234567 FOR OCT 2020. Joe Smith smith@ohio.edu 7-9999
    • Example 2: Correcting JONESJ -Billing for Printing Services February 11-17, 2020 that charged PTA 12450-10-153001 in error. Joe Smith, 7-9999, smith@ohio.edu
  • Line Description: Detail that supports the accounting transaction. Including original transaction # & date posted; descriptions, expenditure item date, etc. 
    • Example 1: Correct duplicate billing for 1058980 CONVO E111 - Ice machine billed on JE JONES-HVAC, PAINT AND RECYCLING CHARGES FOR OCT 2020-202010009.115914 INTERNAL BILLING USD; Posted 10.9.20 by JonesJ@ohio.edu, 7-2939
    • Example 2: To correct internal billing charged to PTA in error: Copy and Printing, Invoice #143847--Business Card: 250 - New employee-Bill Williams, 2/15/20.

CORRECTIONS-OTHER: Use for corrections where the original transaction to correct is a Mail Interface transaction (not charged with IC codes), SIS Peoplesoft transaction, Suspense account corrections for Transact Payments, SIS Peoplesoft and Mail, and Receivables including AR Sales Invoices, AR Credit Memos and AR Misc Receipts. For recurring SIS Peoplesoft entries, e-mail bursar@ohio.edu to update account information for future transactions. For recurring Transact Payments or eMarket entries, email cashier@ohio.edu to update account information for future transactions. NOTE: This journal category should be used infrequently.  Use this category for corrections only if no other correction journal category is appropriate.  

  • Journal Short Description: Short description of why the correction is necessary. 
    • Example 1: Correct organization on Mail Interface.
    • Example 2: Correct revenue object credited by Sales Invoice transaction.
                                             
  • Journal Header Long Description: Include a full description of why the correction is necessary as a whole as well as contact information such as name/number/email. 
    • Example 1: Correcting organization on mail charge due to newly established segment. Joe Smith Smith@ohio.edu 7-9999
    • Example 2: Correct revenue object credited by Sales Invoice transaction.  The incorrect object was provided on the External Billing Authorization.  Joe Smith Smith@ohio.edu 7-9999
  • Line Description: Detail that supports the accounting transaction. Including original transaction # & date posted; descriptions, expenditure item date, etc. 
    • Example 1: Change organization from 700255 to 700210 on MAIL 2019-11-07 22:30:15 230 INTERFACE USD.
    • Example 2: Correcting Invoice Transaction Type - 1 Gen Misc Inv.  Invoice Transaction Number – 1058590  Document Sequence Category -  Document Number - that credited 471634 for SPECIAL EVENTS SERVICES and should have credited 470830 for LABOR CHARGES

CORRECTIONS-PCARD/CONCUR: Use for corrections where the original transaction to correct was paid by a PCard transaction or CTA Card transaction and other items entered in Concur including TR - travel expense reports and RE - other reimbursements.

NOTE: For corrections to paper TR’s use the Journal Category- ‘Corrections-A/P’. 

  • Journal Short Description: Short description of why the correction is necessary. 
    • Example 1: Correcting organization codes on PCard transactions.
    • Example 2: Correcting the activity code charged on CTA Card transactions.                        
  • Journal Header Long Description: Include a full description of why the correction is necessary as a whole as well as contact information such as name/number/email.
    • Example 1: Correcting PCard transactions charged to wrong organization codes. Joe Smith Smith@ohio.edu 7-9999
    • Example 2: Correcting activity codes on CTA Card transactions due to newly established segment. Joe Smith Smith@ohio.edu 7-9999
  • Line Description: Detail that supports the accounting transaction. Including original transaction # & date posted; Supplier, full invoice description, expenditure item date, etc.
    • Example 1: Change org code from 100060 to 100050 - PCSMIT042919 | 000008468525723 | REFRESHMENTS FOR FILM SCREENING, HUMANITAS| 05-1828344 | Post Date - 17-APR-19 |JOE L SMITH | Tran Date -16-APR-19 |OHIO UNIVERSITY |ATHENS | OH
    • Example 2: Change activity code 0000 to 1299 - RVSMIT61819A| 08483630383|ABLE ASSOC FOR BIOLOGY LAB EDUCATION|AIRFARE TO OTTAWA, CN|JOE L SMITH BIOS FACULTY|05-1828675| Post Date 22-APR-19-1 TRAVEL CARD Tran Date 18-APR-19|WESTJET| 8889378538|AL

DEFERRAL/PREPAIDS: Use for adjustments relating to Revenue Deferral – payments received for revenue that has not yet been earned and, Prepaid Expenses – payments for goods or services to be received in the future. Includes all Prepaid and Deferred Revenue entries—all entries using Prepaid and Deferred Revenue object codes. This includes recognition of Prepaids and Deferreds and subsequent reversals of these entries. Also includes sales tax associated with the revenue, if incorporated in the same Deferred Revenue entry.

  • Journal Short Description: Short Title of Deferral/Prepaid & Time Period. 
    • Example 1: December 2018 ROOM allocation for Fall Semester
    • Example 2: Move invoices paid in June 2019 to prepaid                          
  • Journal Header Long Description: Include a full description of Title of Deferral/Prepaid & Time Period as a whole as well as contact information such as name/number/email.
    • Example 1: December 2018 ROOM allocation of deferred income for Fall Semester. Joe Smith Smith@ohio.edu 7-9999
    • Example 2: Move invoices paid in June 2019 from expense to prepaid due to July 2019 service period. Joe Smith Smith@ohio.edu 7-9999
  • Line Description: Detail that supports the deferral/prepaid transaction including all invoice information.  
    • Example 1: December 2018 ROOM allocation of deferred income for Fall Semester
    • Example 2: Invoice 45785 dated 6/30/19; Hodson, LLC; PO 78788; Consulting services hit GL in June 2019 should be moved to July 2019 since service period is 7/1/19 to 7/31/19.

INTERNAL BILLING: Billings for goods and/or services between University departments.  (Includes OU, Rebill, Foundation, Subsidiary & Student Organization accounts, etc.). Use Object Code 48xxxx on credit side and 78xxxx on debit side of transaction.  The last four digits of the paired object codes for internal charges are always the same. Include who requested, what was requested, date of service, contact person and pertinent information-building, rate, etc.

  • Journal Short Description: Short Title of Service & Period of Service.
    • Example 1: Transportation Services Billings September 2018.
    • Example 2: Billing for Printing Services February 11-17, 2019                                       
  • Journal Header Long Description: Include a full description of Title of Service & Period of Service as a whole as well as contact information such as name/number/email.
    • Example 1: Transportation Services Billings September 2018. Joe Smith Smith@ohio.edu 7-9999
    • Example 2: Billing for Printing Services February 11-17, 2019 Joe Smith Smith@ohio.edu 7-9999
  • Line Description: Detail that supports the billing transaction. Make as useful as possible such as who, what, when, where and why, to be able to determine Business Purpose and allowability on account.  Document unusual circumstances for exception to 30-day rule.  
    • Example 1: Motor Pool Rentals, Trip ID #109991 Rented by Jane Smith on 09/22/18 for 1 day(s), Purpose: Student field trip.
    • Example 2: Copy and Printing, Invoice #143847--Business Card: 250 - New employee-Jon Smith, 9/22/19.

TRANSFER-FUNDING/INVESTMT: Use for: 1) Funding transfers using Object Code 6xxxxx on both sides of the transaction; or 2) Investment transfers using Object Code 8xxxxx on both sides of the transaction. Transfers must use the same object code on both the debit and credit sides of the entry. Also use for corrections to transfers-make sure to reference original transaction you are correcting. Please see the Funding and Investment Transfers QRG for more information.

  • Journal Short Description: Short description of what is occurring. 
    • Example 1: Transfer funds from VPR office to VPFA.
    • Example 2: Transfer funds from Dean's office.                                       
  • Journal Header Long Description: Include a full description of what is occurring as a whole as well as contact information such as name/number/email.
    • Example 1: Transfer funds from VPR office to VPFA for support of audit costs. John Smith Smith@ohio.edu
    • Example 2: Transfer funds from Dean's office to multiple departments to support faculty searches. Joe Smith Smith@ohio.edu 7-9999
  • Line Description: Detail that supports transfer.
    • Example 1: For support of Federal Grant Audit costs.
    • Example 2: 1065: FY19 APPROVED GROUP I & II FACULTY SEARCHES.