Journal Voucher

Journal Vouchers (JV) are used to process current accounting entries, allocations and corrections for which other means of entry into the financial system are not available. These document types (JV01) are initiated using the JV form. 

JVs are appropriate for correcting an incorrectly recorded check, cash receipt or other expenditure. They are also used to allocate charges for shared activities between departments when paid on a single org/fund.

JVs are not for moving unpaid encumbrances or processing current fiscal year labor changes. Visit the Labor Redistribution page for information on LRs. 

 

  1. FY - Enter Current Fiscal Year
  2. Journal Type - Defaults to JV01 (can change when appropriate)
  3. Document # - Leave Blank (this number is assigned by Banner when keying the JV)
  4. Document Total - Sum of debits and credits (if more than one page, sum all pages on page 1)
  5. Page __ of __ -  Auto-populates
  6. Coordinated/Authorized by - Coordinating department signature
  7. Fund - Fund Code to debit or credit (even if same as default)
  8. Organization - Org Code to debit or credit (even if same as default)
  9. Account - Account Code to debit or credit (please ensure credited account code matches the information in Banner)
  10. Program - Use Program Code only if a mismatch has occurred
  11. Activity - Use Activity Code only if work order activity number is assigned
  12. Amount - Amount to debit or credit (DO NOT enter negative values)
  13. D/C - Debit or credit indicator
  14. Description - List Banner document number (including sequence number for Procard or WO document types), vendor and date posted
  15. Explanation - Provide the detailed reason for the JV
    1. Explain why you are doing the JV, not what you are doing
    2. Answer the question, "is it reasonable, allowable and applicable to the restricted or unrestricted fund?"
    3. Unacceptable explanations include; no fiscal officer available, reconciler out sick, missed the reconciliation deadline and moving to correct org/fund
  16. Signatures
    1. Doc Ref # - Enter the unique unit document reference number used to identify a specific JV submitted to OFA when the document is discussed between the two parties prior to JV being keyed into Banner (this field is optional and primarily for dept use)
    2. Prepared by - Full name and date prepared, if eligible type name and sign
    3. Approved by - Signature of person that has the authority to sign for department and date approved
    4. If greater than 60 days after the end of the month when the transaction posted to Banner, the PI needs to sign the JV and cost memo
    5. Dept. Name and Phone - Dept name and phone number of the contact person
  17. Financial Services Use Only - Leave blank

The primary purpose of the FUPLOAD is to process JVs that are more than 10 lines long, where the transactions are timely and relational.

  • Relational: Transactions that are related to a common purpose/corrective action, e.g. Procard mapper error reconciliation for a department or departmental scholarship reconciliation.
  • Timely: Transactions are in a similar time frame, e.g. same transaction date or billing cycle.

Example: 

  • Monthly Utilities billing JV or a department's Fall/Spring scholarship reconciliation JVs. The transactions are directly relational (reconciling the departments scholarships, billing for the Utilities recharge) and timely (similar time scope, i.e. monthly billing cycle for Utilities, Fall/Spring semester for tuition scholarships).

OFA will validate whether the transactions are timely and/or relational enough for inclusion on the same file feed.

  • Posting all JV type transactions for a department for the span of a week, while timely, is not relational and is disallowed.
  • OFA may make an exception for allowing a FUPLOAD to process all default ProCard charges on a department outside of the timely basis (e.g. on a quarterly or three month time frame) due to a catastrophic loss of staff or other administrative burden. This is an allowable FUPLOAD but would require OFA to process an exception.
  • All exceptions to the relational/timely metric require approval by OFA.

The biggest changes from the JV process to the FUPLOAD process are as follows:

  • The debit/credit columns are separate. Ensure you only put data into either the credit or debit column (no 0 amounts). All numeric amounts are limited to two decimal places.
  • As the data is necessary to convert to a flat file for processing, you must remit the actual spreadsheet as an Excel file and not a PDF.
  • Because the raw data file is remitted, there is no section on the form for authorized approval signatures. Instead, remit signature approval via email. OFA will attach the email as backup to the file feed in OnBase. OFA will vet other methods of approval on a case by case basis.
  • Send any backup to the file feed as a PDF for retainment in OnBase.

Submit a FUPLOAD JV:

  • Submit the data file in Excel format and the backup in PDF format to the Transaction & Cash Management team at OFA.
  • You can provide the signature approvals either in the PDF backup or as a reply to the remittal email to OFA.
  • A copy of the Banner screen that shows where the transaction has occurred is required with the JV submitted to OFA.
  • The explanation on the form must clearly explain the nature of the JV transaction.
  • Additional information is required for JVs that have not been moved within the 60 day time frame, e.g. a copy of the travel Request, PO or requisition showing the correct accounting.
  • Attach a 60 day cost transfer memo any JVs moving to or from a restricted fund that is more than 60 days old.
  • JVs require approval by a financial manager, Dean or Director. The same individual cannot prepare and approve the form. The preparer and the approver must sign the JV.
  • Additional coordinating/authorizing signatures are required if the JV involves an org from another department or campus. An attached email message approving the charge is acceptable in lieu of signature.
  • Routine JVs, such as the monthly Bookstore JV, are processed without coordinating signatures. JVs prepared between restricted funds that are over 60 days from the end of the month that the transaction posted to Banner must have PI signature/approval.

At a minimum, JVs are reviewed and approved once a day by OFA. OFA will contact the preparer and/or approver if additional information or corrections are needed. JVs are keyed within 3-4 business days of receipt of the document as long as it is completed correctly.

If you know your JV document number, the best way to view the entire document is in Banner screen FGIDOCR (Document Inquiry Retrieval Form). Enter the document number and click "Go" to retrieve the JV's sequence lines.

Other Banner screens such as FGIBDST (Organization Budget Status Form) and FGIBDSR (Executive Summary Form) are available to view the effect of the JV. Select the organization, account and/or fund code and drill-down to FGITRND (Detail Transaction Activity Form). FGITRND is also a good place to check to see if a JV has been processed when the document number is not known.

Each account code has a normal balance default code on the account code table. Assets and expenditure accounts normally have debit balances. Liabilities and revenue accounts normally have credit balances.

A JV requires that the preparer indicate if an entry is a D (debit) or a C (credit).

A transaction in an expense account with a C indicator will have a (-) sign in the Banner detail transaction activity because a credit will decrease expenditures.  A transaction in a revenue account with a D indicator will have a (-) sign in the Banner detail transaction activity because a debit will decrease revenue.

Likewise, a transaction in an expense account with a D indicator will have a (+) sign in the Banner detail transaction activity because a debit increases expenditures. A transaction in a revenue account with a C indicator will have a (+) sign in the detail transaction activity because a credit increases revenue.

 

Our staff are happy to answer questions and help navigate the JV process.