How to Process a Journal Entry

Overview

This article will demonstrate how to create and process a Journal Entry

Critical Concepts

• Oracle role assignment of UCSD GL Journal Entry JR will be limited to select VC department contacts
  
• Internal controls surround the ability to create and approve Journal Entries in order to maintain security around the University’s financial statements, therefore access to create and approve Journal Entries will be limited/restricted
  
• GL Journal Entry Preparer is independent from a GL Journal Approver
  
  • To check if you have access to create or approve Journals, from the OFC home page, go to General Accounting > Journals, then click on the Task icon and you should see either Create Journal or Manage Approvals
    
  • If you do not see any of the above options, you do not have access to create or approve Journals
• Oracle is case sensitive, so be aware of capitals
• The Journal will be posted at the General Ledger level, not in PPM

Steps to Take

Prepare a Journal in Oracle

1. Click on General Accounting, select Journals
2. Click on Task Icon, then Create Journal and compete the following in each of the sections

2.1 Section: Journal Batch

a. Journal Batch: Enter your initials for your department, your initials, and a journal name to identify the journal e.g. a journal from General Accounting: GASP Trf Bal Fr xxxxxxx to xxxxxxx
b. Description: Enter a description of Journal
c. Balance Type: Actual
d. Accounting Period: Defaults to current period, it must be an open period
e. Source: Manual

2.2 Section: Journal

a. Journal: Enter a Name for the Journal, it can be the same as Journal Batch above
b. Description: Enter a description of Journal, it can be the same as above
c. Ledger: UCSD (unless you work in Foundation)
d. Accounting Date: Date of entry or date of Journal posting within the open period
e. Category: Manual

2.3 Section: Journal Lines

a. For line 1, under Account, enter the 12 segment Chart String, which can be typed in the field

1. If you do not know a segment of the chart string, click on the Search icon:

2.  Each segment must have a value (a zero value is acceptable in some segments) and title/name

3. Use the drop down arrow to search for the segment

4. If you know the segment value and you type it in the field, you must see the segment name display, if it is not there, you will have to click on the drop down and select the Value, then press Enter

5. For further assistance in finding segments, refer to KBA How to Determine my Chart String

6. If you can not get out of the screen, there may be a Cross Validation Issue, refer to KBA Cross Validation Rules

b. Enter the Debit amount
c. Enter a Description for the Journal
d. Repeat for the next line

1. There will be a minimum of 2 lines, a Debit and Credit line

2. Total Debit amounts must equal total Credit amounts

e. Click Save, this does NOT submit for approval
f. Click Post, this submits the Journal for approval
g. If you want to check to see if it was sent for approval, next to Journal Batch heading, click on Show More
h. Click on Action Log tab, Action column, should state, Sent for approval 

Review and Approve Journal

1. Go to General Accounting > Journals > Manage Approvals, look for the notification at the top right on the Bell icon that there is an Approval Pending
2. We recommend clicking on the Journal to review and then click on Post to approve, rather than Approving without reviewing
3. If you click on Reject it will send an email notification to the preparer to review and resubmit 
4. Another way to review is to click on the Task icon, then Manage Journals, then look for the Journal to approve, click on Post to Approve the Journal

1. If you still have questions or need additional assistance, please submit a ticket