| Chapter 11 - Journal Entries and IMOs |
| GENERAL |
This chapter covers journal entries and intramural orders (IMO'S). Journal Entries are used to accomplish all of the following, while IMO'S accomplish only the first item:
- To record direct charges for goods and services provided by University service centers.
- To record direct charges for goods and services provided by University service centers.
- To correct input errors due to incorrect coding or improper keying.
- To redistribute an original charge (redistribute mail, phone, copy center charges, etc.)
- To record adjustments required at year-end or for other purposes.
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| JOURNAL ENTRY TYPES |
For the purpose of the User Manual, five different types of journal entries are identified. These are:
- Correcting journal entries to non-controlled funds within a department or college.
- Correcting journal entries affecting outside departments, colleges or controlled funds.
- Service billing entries entered through an automatic feed.
- Service billing entries entered interactively.
- Service billings entered with an IMO or through batch processing.
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| Each of these journal entry types is processed differently by FRS. |
| Department or College Non-Controlled Journal Entries |
| Journal entries within a department or college affecting non-controlled funds may be processed in FRS or via the CIS System. Non-controlled funds are all departmental fund groups except 12/32, 18, 53, 64, 65, 7x and 88. FRS screen 014 or the Correcting Journal Entry screens in CIS should be utilized for journal entry correction input. A copy of this screen 014 follows at the end of the chapter. |
| Department or College Controlled Journal Entries |
| Journal entries affecting outside departments, colleges or controlled funds (12/32, 18, 53, 64, 7x and 88) must be processed using the Correcting Journal Entry screens in CIS. The CIS System routes the journal entry to the applicable departmental approvers for approval. Once departmental approvals are completed, the journal entry may route to central offices for additional approvals, depending on the account and subcode used. For additional information about correcting journal entries please refer to Financial Procedure Instruction FPI H-6. |
| Service Billing Entered Through an Automatic Feed |
| Departments that have a large volume of service billing entries each month may apply for the automatic feed feature. This feature allows direct journal entry input from departmental systems to the FRS. Service billings are defined as charges for goods or services provided. Examples are Telecommunication Charges, Mail Service Charges and Copy Center Charges. Automatic feeds must conform to the FRS journal entry format requirement. Business and Financial Services will assist departments in developing feeds that meet the format requirement. Departments may not use the automatic feed for anything other than service billings. Internal journal entry corrections must be processed using one of the options discussed above. Approved applications for automatic feeds are reviewed annually and approval may be withdrawn if misuse is indicated. See Business & Financial Services, Business Systems Services for an application. University Financial Procedure Instruction FPI H-6 outlines procedural requirements for Electronic Journal Entries. |
| Service billings Entered Interactively |
| For those departments that lack sufficient volume for the automatic feed feature or do not have systems to support that feature, journal entries may be input to FRS using an interactive journal entry screen. Entries may be entered using the normal journal entry screen (Screen Number 09E or 09F). Departments wishing to use the interactive feature must file an application and submit it to Business & Financial Services. See Business & Financial Services, Business Systems Services for an application. Again, users should refer to University Financial Procedure Instruction FPI H-6. |
| Service Billings Entered With an IMO or Through Batch |
| Any department may use IMO'S. These entries are entered via the CIS System. For additional information about IMO'S, please review Section 6 of the Purchasing Manual. http://www.purchasing.colostate.edu/pages/pmanual.asp |
| DATA ENTRY REQUIREMENTS |
Whichever journal entry type is used, the data required for input is the same. The following data is required:
- The six digit charge account and its four digit subcode or account control. See chapter 6 All About Subcodes and Account Controls and the FBM097 report.
- The three digit transaction code. See chapter 8 on Transaction Codes.
- Seven digit reference code number one. See chapter 10 on When and How to Encumber Expenditure Documents for information on reference codes.
- Date.
- Twenty character description.
- Journal entry amount.
- P/F - P indicates partial billing and F indicates final billing.
- Reference number two. This is a seven digit alpha-numeric field.
- The six digit credit account and its four digit subcode or account control. See chapter 6 on All About Subcodes and Account Controls and the FBM097 report.
- If entries are being entered interactively, a session must be opened and closed using screen 030. Chapter 14 on Screen Navigation provides detailed instructions.
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| DOCUMENTATION OF JOURNAL ENTRIES |
| As departments gain flexibility and control, they also gain responsibilities. Entries entered interactively or through automatic feeds do not result in a central authorizing document that can be filed in Business and Financial Services. Departments must, therefore, accept responsibility for maintaining permanent files of authorizing documents as an audit trail of the transaction. Federal, State and Internal auditors will need these files to sample and verify the accuracy of University Transactions. Financial Procedure Instruction numbers H-6 and J-7 outlines documentation requirements & record retention requirements. |
| SCREEN 014 JOURNAL ENTRIES |
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| Screen 14 JOURNAL ENTRY INPUT |
| Screen 14 is used to input journal entry corrections. A batch MUST be opened (screen 30) prior to using these screens. |
| RESTRICTIONS: |
| Funds 12/32, 18, 53, 64, 7x, 88 | not allowed | (enter via CIS) |
| 2xxx Salary subcodes | not allowed | (corrected in HRS System) |
| 482x Official Functions | not allowed | (enter via CIS) |
| 8xxx Equipment subcodes | not allowed | (enter vis CIS) |
| 9xxx Indirect Cost subcodes | not allowed | (enter vis CIS) |
| Entries between funds | allowed | |
| Entries between departments | allowed | |
- Position the cursor after SCREEN and type 014. Press the ENTER key.
- TAB to the ACCOUNT field and input the 10 digit account to be debited.
- Mandatory - TAB to the REF NO field and type the 7 character document reference.
- Optional - TAB to the DATE field and type the date as MMDD. If left blank, the system will input today's date.
- TAB to the DESCRIPTION field and type up to 20 characters to describe the type of entry being input. Do not use descriptions like correct error, correction, move balance, etc. Use the vendors name, or the description of the entry as it originally appeared on the FBM090/91 month-end reports.
- TAB to the AMOUNT field and type in the dollar amount.
- Optional - TAB to the REF NO 2 field and type up to 7 alpha-numeric characters to further describe the transaction.
- TAB to the CREDIT ACCOUNT field and input the 10 digit account to be credited. Press the ENTER key.
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| If the system accepts the transaction, the amount field will be erased, all other fields will remain on the screen. The TRANSACTIONS PROCESSED and AMOUNT PROCESSED fields will be update. When inputting subsequent entries any correct data that is displayed on the screen does not need to be rekeyed. Only data that is changing needs to be keyed. |
