Journal Entry/Import

­­­­­How to enter a Journal Entry in PeopleSoft Finance

1. Go to Nav Bar, Menu, General Ledger, GL WorkCenter, Create/Update Journal Entries

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2.  Enter the journal ID or leave as “Next” to use a system generated ID, enter the journal date, and Click “Add”.

• When correcting a previously posted journal, the new journal must use the same Journal ID as the original.
• You can reuse the same journal ID throughout the year, or even within the same accounting period, changing only the date for each instance.
• The current date will auto-populate and should be used in most cases. The journal date should not be backdated, unless asked to do so by central finance or at fiscal year-end.
• The general ledger is closed for the month 4 business days after the end of previous month. For example, the month of October would be closed by November 4 which means you would have until November 4 to date journals in October. Please remember time is needed for the approval process.

3. Enter a journal description.

• Provide a brief explanation of the purpose of the journal. Example: “To reclassify an expense.” “To record fiscal year end accounts receivable” “To record inter-departmental revenue.”
• If additional detail is needed, attach supporting documentation to the journal.

4. Enter a journal class. See the Journal Class section for more details regarding the class. The Ledger Group will be “ACTUALS” and the source will be “DPT”.

5. Add backup to the journal using the attachments link. The journal must have enough backup to stand alone for internal or external review. A department may add correspondence or detail to support the entry.

• If correcting a journal entry that was previously posted, a detailed GL report must be attached showing the detail of the original transaction and any other entries affecting the transaction being corrected. The GL Details report in TIBCO or the PSFIN query NDU_GL73 should be used for backup.
• If backup documentation is to be retained by the department, include “backup documentation retained by department” in the description. The department is fully responsible for documentation including record retention, auditor questions, and approval of the department entry.

6. Select the lines tab and key in the appropriate chartfields.

• Required fields: Unit (UND01), Account, Fund, Dept, Amount (enter credits as negative numbers, debits as positive numbers).
• If a project number is used, the PC Bus Unit (UND01), Project, Activity (1), and An Type must be completed.
• Lines added after the first line of data has been entered will auto fill with the same fund and department as the previous line and will input an amount to balance the journal to zero. If you do not want the lines to auto fill, you may add the additional lines you will need prior to completing the data on the first line of the journal.

7. Ensure that debits and credits equal to zero unless you are creating a cash correcting entry (CCE).

8. Select Save. The journal will be picked up for budget check and edit check in the system automated process. Once the journal has passed these checks, it will begin routing for approval. The user that created the journal will receive an email if the journal does not pass budget or edit check. An email will also be received once the journal has been approved by the final approver and is ready to post.  PSFIN has an automated posting system for journals that runs nightly.

9. To check the status of a journal, navigate to the GL Workcenter, select ”Create/Update Journal Entries” and “find an existing value.” Enter the business unit of UND01 and the journal ID and navigate to the approval tab to see the status of the approval(s).

For use by departments in the completion of the Class field when entering a journal entry. The journal class determines the path of the approvals required by the journal.

• COR - Correction
  • The journal class of COR is utilized to correct previously posted journals. The journal ID should match the ID of the journal being corrected.
  • The benefit to using the same journal ID as the original is that all corrections will be displayed on reporting.
  • A journal voucher should be used to correct AP journals.
  • A Payroll retro should be used to correct PAY journals.
• EXC - Correction of Travel & Expense (T&E)
  • Use the class of EXC when making corrections to T&E. The approval workflow is different than COR entries.
• CTF - Cash Transfer
  • Cash transfer journals move cash from one fund to another. They cannot be used with appropriated funds (3XXXX), Alumni Flow-thru funds (26XXX), or Fiduciary funds (8XXXX). Appropriated funds hold general state appropriations and tuition - the management of these funds are monitored at a central level instead of a departmental level.
  • Transfer accounts must be used, and the combination of account codes must be 490004/722010 (Intrafund Transfers); 490002/722005 (Interfund Transfers); or 491005/721005 (Interdept Service – MIRA transactions). Transfer entries net to zero and will not affect the financial statements.
• IDB - Interdepartmental Billings
  • The journal class of IDB is assigned to those journals that are created when one department is charging another department for a commodity/service. These journals will debit an expense account code for the department being charged and credit an interdepartmental revenue account (479XXX) code for the department receiving the income.  The journal will require both departments to approve the journal prior to it being processed by central finance.
• CCE - Cash Correction
  • Cash correcting journals are one-sided journals and will have a positive or negative effect on cash. Debits and credits will not equal to zero. CCE journals are created to process a correction to cash – an example would be an NSF check. Departments should coordinate with Treasury on CCE journals.
• ACT - Central Accounting Office
  • The journal class of ACT is utilized for journals created by the Central Finance Services team that do not need to be reviewed/approved by a departmental business officer. Journals in this class are originated by personnel in the Controller’s Office, Procurement & Payment Services (PPS), Asset Management (AM), or Grants & Contracts Administration (GCA).

Journal sources identify the origin of a journal entry. The journal source for a journal entry or import will be DPT – Cash Balance Entry. Cash lines are automatically generated when the journal entry is processed.

The following are other journal sources – these will be system generated entries from other modules (subledger) and the below is informational only.

ALO – Allocations

Journals IDs do not have a standard format.

Journals include VSL entries, Grants & Contracts entries in ACTUALS ledger and auxiliary  entries and InterDept Rev elim in CONSOL ledger.

AM – Asset Management

Journal IDs are formatted as AMXXXXXXXX

Journals include asset additions, asset adjustments, asset retirements and depreciation.

AP – Accounts Payable

Journal IDs are formatted as APXXXXXXXX

Journals include Accounts Payable, AP cancels, AP manual closures, AP cash clearings, and AP payments.

AR – Accounts Receivable

Journal IDs are formatted as ARXXXXXXXX

Journals include AR cash control, AR payment, AR direct cash journal, AR maintenance.

BI – Billing

Journal IDs are formatted as BIXXXXXXXX

Billing generates journal entries that update the GL with revenue, AR, and other related financial impacts from invoices mostly related to Grants & Contracts.

BSP – SUA-External Transactions

Journal IDs are formatted as TRXXXXXXXX

BSP journals are related to adjustments to SUA payments when a vendor does not process the entire payment or a credit is to be applied to the original payment.

CA – Contracts (not currently used)

EX – Travel Expenses

Journal IDs are formatted as EXXXXXXXXX

Journals are related to travel reimbursement.

GM – Grants Management

Journal IDs are formatted as GMXXXXXXXX

Journals are associated with posting of Facilities & Administration (F&A) indirect costs.

LA – Lease Administration (not currently used)

MKP – Marketplace Journals

Journal IDs are formatted as NELXXXXXXX, NELCXXXXXX or NELKXXXXXX.

Journals are associated with Nelnet transactions.

ONL – Online Journal Processing

Journals IDs do not have a standard format.

PAY – Payroll

Journal IDs are formatted as PAYXXXXXXX

Journals are associated with Payroll transactions.

PC – Project Cost

Journal IDs are formatted as CAREVXXXXX

Journals are associated with the grant module and billing process.

PCN – Project Cost-Not Integrated

Journals IDs do not have a standard format.

Journals are associated with corrections that do not flow to the G&C module

PO – On-Line Prch Order Processing (not currently used)

SF – Student Financials

Journal IDs are formatted as SFXXXXXXXX

Journals are associated with the student finance module (Campus Connection) and include transactions associated with accounts receivable, cashiering, and financial aid.

SFC – Student Finance Corr/Adjust (not currently used)

SMT – SEMTek journals (not currently used)

SSI – Spreadsheet Journal Import (not currently used)

When a journal is entered or imported to the General Ledger in PeopleSoft Finance, it goes through the following process before it is posted to the ledger.

1. Journal Edit: This process checks for the following:
   • Open accounting period
   • Valid combo edit
   • Balanced lines (total debits = total credits)
2. Budget Check: checks for sufficient budget per chartfields on the journal
3. Approval: Route the journal to designated approvers
   • Workflow is determined by the journal class and departments in the account chartfields
4. Post: Posts the journal to the general ledger. This occurs automatically each night.

There are multiple subledgers or modules in PeopleSoft. When a transaction is entered in a subledger, it goes through edit check, budget check, and an approval process. After a transaction has been approved in the subledger, a posting process runs and creates journal entries in the General Ledger (PSFIN). These journals are automatically posted in PSFIN nightly. The Controller’s Office will investigate and rectify any errors that may be in the system generated journal.

1: Download and open the journal import template (excel file).

2: Key in a journal ID (must be 10 characters or less).

• If correcting a prior journal entry, deposit, etc, the journal ID of the correcting entry must be the journal ID of the original entry.

3: Enter a journal purpose/description.

• The journal description should be a short phrase summarizing what the journal will accomplish. Example: “To reclassify an expense.” “To reclassify a deposit.” “To record inter-departmental revenue.” This journal description flows to the general ledger reports.
• If a department wishes to add additional details regarding the need for the entry, those details can be added as an attachment to the journal.

4: Key in the journal date and the period covered.

• The journal date should not be backdated, unless asked to do so by central finance or at fiscal year end. The current date should be used in most instances.

5: Key in the appropriate chartfields.

• Required fields: Unit (UND01), Ledger (ACTUALS), Account, Fund, Dept, Amount (enter credits as negative numbers).
• If a project number is used, the PC Bus Unit (UND01), Project, Activity (1), and AN Type must be completed.
• The description field is optional. This field flows to PeopleSoft Finance line by line in the journal.
• Ensure that debits and credits equal before moving on.

6: Attach completed journal and backup to an email addressed to UND.journalimports@UND.edu

• The journal must have enough backup to stand alone for internal or external review. A department may add correspondence or detail to support the journal.
• If backup is retained in the department, this must be noted in the body of the email. The department must be able to provide this backup as requested by internal or external review.
• The GL Details report in TIBCO or the PSFIN query NDU_GL73 should be used for backup.
• Complete one journal import per excel file and submit one import per email.

7: Click send. The import and backup will be uploaded into PeopleSoft Finance by central finance.

8: The journal will be picked up for budget check and journal chartfield check in the system automated process. Once the journal has passed these checks, it will begin routing for approval.

9: To check the status of a journal, navigate to the GL Workcenter and select “find an existing value.” Key in the business Unit of UND01 as well as the journal id and navigate to the approval tab.

1. An email notification is received when a journal requires approval.

2. Navigate to the journal:

• • Click the link in the email which will take the approver directly to the approval page of the journal; OR
  • Use the GL Work Center to view journals needing approval. Navigator, General Ledger, GL WorkCenter, Journals Pending My Approval.

3. Review the journal by clicking on the link “Go to Journal Entry Page”

• • • Ensure there is appropriate backup attached to the journal
    • Ensure the journal balances to zero (exception will be CCE journals)
    • Ensure the chartfields are appropriate and correct
    • Ensure the journal description is concise and gives an accurate representation of the journal. The description flows to general ledger reports.

4. Approve or Deny the journal.

• • • If the journal is approved as is, click on Approve. PeopleSoft Finance has automatic posting nightly.
    • If the journal requires correction, click on Deny.
      • Enter comments as to what correction(s) are needed.
      • The journal will route back to the user who entered the journal via an email notification.

5. The journal will route to the next approval stop.

6. To check the status of a journal, navigate to the GL Work Center and select “find an existing value”. Enter the business unit (UND01) and the Journal ID and select the Approval tab.

FAQs

Q: What is the difference between a journal entry and a journal import and which should I use?

• A journal entry and journal import accomplish the same task. Use the journal import process when your journal entry is 10 lines or more. If the lines are less than 10, please enter the journal entry directly into PeopleSoft Finance. See “Journal Entry” for more information on entering a journal into PeopleSoft Finance.

 

Q: I received an email that the journal did not pass budget check.  What do I do?

• Navigate to the general ledger, GL Workcenter and select the “Create/Update Journal Entries” link.
• Select “Find an Existing Value” tab.
  • The search criteria should include business unit=UND01 and the journal ID you are searching for. Click search.
• Select the lines tab.
• Under budget status, click on the highlighted “E.” This will take you to the details of the budget error.
  • Exceeds budget tolerance - submit a budget journal to increase the budget, or change the funding source.
  • No budget exists - submit a budget journal to create the budget, or change the funding source.
  • If changing the funding source, you can change directly in the journal on the lines tab.
• Once the budget journal has been processed or the funding source changed on the journal, the journal will be picked up in the system budget check and move forward for journal approvals.

 

Q: I received an email requesting correction of Journal errors. What do I do?

• Navigate to the general ledger, GL Workcenter and select the “Create/Update Journal Entries” link.
• Select “Find an Existing Value” tab.
  • The search criteria should include business unit=UND01 and the journal ID you are searching for. Click Search.
• Select the lines tab and select the checkbox labeled “errors only.”
• Select the errors tab and review the error details.
• Make corrections to the chartfields and click save.
• Once the errors have been corrected and the journal saved, the journal will be picked up in the system journal edit and move forward for budget check and the approval workflow will restart.

 

Q: I received an email that the journal entry was denied due to not using the journal id of the original entry for the Journal ID of the correcting entry.  What do I do?

• Re-enter the journal with the journal id of the original entry as the journal id of the correcting entry. Journals IDs cannot be changed after the journal has been entered.
• Send an email to journalimports@UND.edu requesting that the denied journal be deleted.

 

Q: I received an automated email that the journal entry was denied. What do I do?

• Navigate to the general ledger, GL Workcenter and select the “Create/Update Journal Entries” link.
• Select “Find an Existing Value” tab.
  • The search criteria should include business unit=UND01 and the journal ID you are searching for. Click Search.
• Select the “approval” tab and review the journal deny comments.
• The comments will also be shown on the automated email.
• Make corrections and click save.
• Navigate to the approval tab and select “submit.” The journal will not re-enter the workflow until “submit” is clicked when a journal has been denied.
• If a denied journal has not been corrected and resubmitted by month close, a ticket will be sent to CTS to roll the journal date to the next (current) month. If this is done, it removes every comment on the journal and sends it back to step one in the approval workflow.

 

Q: I received an email that the journal entry was denied due to insufficient backup from the general ledger.  I’m not familiar with which general ledger reports would work best. What do I do?

• In TIBCO, run the GL Detail Transaction Report. Filter can be used to narrow the results (for example, filter to the Journal ID, fund number, account number, etc)
• Query NDU_GL73 can also be used for details. Filter to include the appropriate transaction being corrected.
• If more information is needed for a Treasury deposit, please refer to the “UND Department Receipt FY20XX” report located in the Reports area of the UND Finance website.
  • Note, if the deposit was received via ACH, UND treasury records the deposit on journal entry. The department should use the TIBCO GL Detail Transaction report or query NDU_GL73 to obtain the GL detail.
• Open the journal in PSFIN and attach one of the reports detailed above in Excel or PDF. Navigate to the approval tab and select “submit” to re-start the checks and approval workflow.

 

Q: I have entered a journal into PeopleSoft Finance, or have submitted a journal import to UND.journalimports@und.edu  - how do I know if it is moving through the system toward posting?

• Once the journal has been entered and saved, the journal will automatically move during pre-defined times (approximately every two hours starting at 7:00am) to a journal edit check and journal budget check.
  • If the journal passes, it will move to the approval string.
  • If the journal does not pass, the department must correct journal and or budget errors. Automated notices via email will be sent to the user who entered the journal.

 

Q: I want to look up a journal to review the posting status, approval string, or other details.  How do I do this?

• Navigate to the general ledger, GL Workcenter and select the “Create/Update Journal Entries” link.
• Select “Find an Existing Value” tab.
  • The search criteria should include business unit=UND01 and the journal ID you are searching for. Click Search.
• Select the lines tab
  • Journal status = P (journal has posted)
  • Journal status = E (there is a journal error that the department must correct)
  • Budget status = V (the journal has passed budget check)
  • Budget status = E (there is a budget error that the department must correct)
• Select the approval tab
  • Approval strings are determined by the journal class keyed during journal entry.
    • A green check mark with a time stamp indicates that the journal has been approved at that stop.­­­­

 

Q: I am aware of a journal in PeopleSoft Finance that has not posted and needs to be deleted. What should I do?

• Send an email to journalimports@UND.edu requesting that the journal be deleted.

 

Q: I am waiting for a journal to post and it is nearing month end.  What happens if all approvals are not completed prior to the third business day in the month following the date of the journal? 

• A ticket will be submitted to CTS to have the journal re-dated to the following (current) month and will re-start the approval workflow. Any deny comments will be removed from the journal.
• The Controller’s Office will contact approvers of any journals that are dated the previous month during the first few days of the following month.