GENERAL LEDGER STANDARD JOURNAL ENTRY. 3. Procedure In the Financial Management dropdown, select the Journals function in the Journals submenu.

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1 Procedure # GL - 1 General Ledger Standard Journal Entry Created By Emily Krambs 7/20/09 Revised By Donald Hein 1/8/14 Approved By GENERAL LEDGER STANDARD JOURNAL ENTRY 1. General Journal entries are used to create an accounting entry that records a financial transaction in the general ledger. Journals can be created in two ways: manual entry to update actual account balances and automatically from other applications in the Financial Management system (e.g., posting a vendor invoice from Invoice Processing). There are three different types of balances that the system maintains: actual, budget, and encumbrance. Each of these balances has a corresponding journal type that is used to update the balance. This training document focuses on the actual manual entries. 2. Definitions 3. Procedure In the Financial Management dropdown, select the Journals function in the Journals submenu. The system will navigate to the Journal List screen. To enter a new journal entry, click the New button. Procedure #: GL-1 Page 1 of 13

2 Journal Header Complete the Journal Header by entering the necessary Journal Information and Defaults. The fields highlighted in yellow are required. Therefore, you will not be able to save the Journal Header until they have been completed. Journal Information This section groups the journal information controls: a. Department This field displays the department responsible for the source of the journal. It will default to the enterer s home department. b. Journal Type For a standard journal entry, select the Journal Entry option from the dropdown menu. c. Fiscal Year The current fiscal year will default in this field. Modify this field if necessary by selecting the fiscal year of the journal entry using the dropdown menu. d. Reference Select the name of the enterer from the dropdown menu. Defaults This section groups the journal defaults: a. G/L Date The current date will default in this field. Modify this field if necessary by entering the general ledger date of the journal entry. b. Source This is a searchable field. If the journal entry is not being entered through the use of a template, enter the word Manual in this field. c. Description Enter the journal entry s description. This description will appear on the Journal List page. It will also default in each of the entry s transactions. This can be modified for each individual transaction, if necessary. d. Retain Entries If this option is not selected, the Journal Header defaults will populate the fields through your sequence of transactions, even if you change its content within the sequence of the entry. If the option is selected, the journal entry transaction field will populate with any changes that were made to it in the middle of the sequence. When all fields have been completed, click the Save button to begin entering the Journal Entry s transactions. Journal Entry Transactions The easiest way to navigate through journal entry transaction lines is to use the tab button to move from field to field and hit the enter key when you have finished the transaction. This will save the information entered for that transaction and will allow you to enter the next transaction or move to the next step in the journal entry process. Procedure #: GL-1 Page 2 of 13

3 The G/L date from the Journal Header will default into the G/L Date field for each transaction. Change the G/L date if necessary. Tab to the G/L Account field and enter the general ledger account number for this transaction. If the account number is unknown, click on the eye icon next to the dropdown field. A pop-up browser window will appear, allowing you to search for general ledger account numbers. You can search for accounts in a variety of ways, including using part of your organization set, or by entering the name of the account number. Once you have entered your search criteria, click the Search button to view the search results. When the search results appear, you can select the account you wish to use by clicking on the G/L Account hyperlink. This will auto-fill the account number in the transaction s G/L Account field and close the pop-up browser. Procedure #: GL-1 Page 3 of 13

4 Tab to the Description field. The description entered in the Journal Header will default into this field. Change the description if needed. Tab to the Debit/Credit field and enter the amount of the transaction as a debit (+) or credit (-). Hit the enter button to save the transaction. A blank transaction line will appear. Continue entering each of the journal entry s transactions. If you wish to edit a previous transaction at any time, you can do so by clicking back in to the transaction line. Once all transactions have been entered, review the debit and credit totals to ensure that they match. Verify that the Fund balances within the Fund Summary. Procedure #: GL-1 Page 4 of 13

5 Journal Entry Grid Icons Several useful functions within the journal entry grid are controlled by icons Switch to Delete The Switch to Delete function will allow you to delete one or multiple transactions. Click the icon and the system will navigate you to a grid that will allow you to select which transaction you want to delete. Select the transaction(s) you wish to delete by clicking the check box to the left of the transaction(s). The Delete icon ( ) will then appear in the place of the checkbox. To unselect the transaction for deletion, click the Delete icon and the checkbox will reappear. Once you have selected all transactions you wish to delete, click the Delete button. NOTE: If you decide not to delete any transactions while in deletion mode, click on the Switch to Delete icon again to navigate back to the journal entry grid. Procedure #: GL-1 Page 5 of 13

6 2. Status The Status icon will alert you if a transaction line contains an error. The checkmark enclosed in a green circle indicates that the transaction is free of errors. The exclamation point enclosed in a red circle indicates that an error exists within the transaction. If you hover over the red status icon, an alert box will appear detailing the source of the error. You must correct the error or delete the transaction before you continue processing the journal entry. 3. More When you hover over the More icon, a pop-up display will appear providing you with additional information about the transaction. You can modify this information by clicking on the icon. A pop-up display that contains editable fields will appear. When finished, click OK to save the changes. 4. Cancel Changes To undo any changes that have occurred in a particular transaction line since it was last saved (by hitting enter), click the Cancel Changes icon. Procedure #: GL-1 Page 6 of 13

7 Journal Entry Workflow Buttons After the journal entry s transactions are entered, the workflow buttons are used to finish processing the entry. Begin by clicking on the Review workflow button. The Review screen allows you to verify the information in your entry using a variety of customizable settings Procedure #: GL-1 Page 7 of 13

8 1. Journal Header Click on the (plus) icon on the Journal Header bar to view the details of the Journal Entry Header. 2. Fund Summary Click on the (plus) icon on the Fund Summary bar to view the journal entry s transactions summarized to the fund level. 3. Transaction Sort The Transaction Sort function will allow you to sort the order of the transactions in the review screen to make the review process more efficient. 4. Override Budget If a transaction creates an over budget situation, a bell icon will appear next to it. Before you can validate the journal entry, a budget transfer will have to be approved and a budget adjustment entry will have to be made in the system. After reviewing the journal entry, continue by clicking on the Validate workflow button. A pop-up browser window will appear containing the journal entry s validation results. Click the OK button to close the window. NOTE: If the journal entry is not valid, close the browser by clicking OK, and then return to the journal entry grid by clicking on the General workflow button. Once you have corrected the errors, you can review and validate the journal entry again. Next, click on the Print Edit & Error Listing workflow button. Procedure #: GL-1 Page 8 of 13

9 A pop-up browser window will appear. Click Print to generate the Edit and Error Listing reports. To view the reports, click on the MyReports icon in the top right corner of your screen. The system will navigate you to the MyReports queue. View the reports by clicking on the report title hyperlink. After reviewing the Journal Edit Listing and Journal Error Listing reports, breadcrumb back to the journal entry by clicking on the journal number hyperlink above the MyReports heading. Procedure #: GL-1 Page 9 of 13

10 Next, click on the Documents workflow button to attach the journal entry s back-up documentation. A pop-up browser window will appear. Click on Add Procedure #: GL-1 Page 10 of 13

11 The menu options change to three new items. Click on Upload. Another popup box will appear. Click on Select Files and add attachments as needed from your file directory. Procedure #: GL-1 Page 11 of 13

12 Click on Upload to attach the files to the Logos journal entry. Close the popup boxes to return to the journal entry. Note that unlike prior versions of Logos, you no longer need to specify a file type and you no longer need to provide a file description An asterisk will now appear next to the Documents workflow button after the entry is validated. This indicates that a file has been attached to the journal entry. If validated before the document is added, clicking on Validate again will add the asterisk. Finish processing the journal entry by clicking on the Approvals workflow button. Add your approval to the journal entry by clicking on the Approve button. Procedure #: GL-1 Page 12 of 13

13 Select the user you wish to send the journal entry to for the final approver by clicking on their name. Use the arrows to move them to the Selected Users box. You can add a comment to send to the next approver, if desired. Click OK to add your approval and send the journal entry to the next user. Procedure #: GL-1 Page 13 of 13