ctcLink Reference CenterFinanceExpenses Expenses - 29Correcting Accounting Entries in T & E (Travel and Expenses - Journal Expense Report)

Correcting Accounting Entries in T & E (Travel and Expenses - Journal Expense Report)

Purpose:  Journal Expense Reports are used to adjust accounting entries for expense that have been posted and paid, and whose payments have been posted.  Journal expense reports are not associated with changes to monetary amounts, nor do they create any payments. You process journal expense reports to correct accounting entries that have already been recorded in General Ledger.

Audience:  EX Administrator

Scenario: A Expense report has been created using an incorrect Chartfield string, and is posted and paid. To avoid making a manual General Ledger entry, we simply enter a Journal expense report in Travel and Expense module. On the journal expense report, we reverse the amount to the incorrect Chartfields and add the amount to the correct Chartfields. This will keep the General Ledger and T&E in sync.

Example:

Expense report 0000005360 (BU WA220, Employee 101007416) has been entered incorrectly with project ID 0000001780, and is posted, paid and GL distributed. The project id should be 0000001783. Therefore, to correct the project ID we will create Journal expense report in T&E module.

Create Journal Expense Report

Navigation:  Travel and Expenses > Manage Accounting > View/Adjust Accounting Entries > Adjust Paid Expenses > Add a New Value

In order to create a Journal expense report, you must first know the Employee ID associated with that expense report and original expense report ID that requires an adjustment.

Step 1: Create Journal Expense Report
  1. You can search for an Empl ID by clicking the Look Up button next to the field.  (For this example, 101007416)
  2. Click Add.
Add a New Value tab
Step 2: Select Original Expense Report to Correct
  1. In the Journal Report ID field, enter the original expense ID that requires an adjustment.
    (Available expense IDs are those that are associated with employee IDs.  For this example, 0000005360 was used).
  2. Enter valid value in the Report Description field.
  3. Click the Select check box (next to the Expense row).
  4. Click an entry in the Expense Type column to view and/or modify the the ChartField for the expense.
Modify Journal Entries for An Expense Report page
Step 3: Enter Correct Accounting (ChartFields) Detail

This page displays the selected journal expense report line item and its associated ChartFields. A row displays a reversing entry that the system automatically created. You can modify the entry and create additional entries if necessary.

Modify the ChartFields to reflect the correct expense charges. If you charge the line to more than one set of ChartFields, adjust the amount to reflect the appropriate portion for these accounts.

All of the distribution amounts added together must equal zero for the expense line.

Accounting Detail page
  1. Select OK.
Step 4: Submit for Posting
  1. Make sure the correct expense report line is selected for posting.
  2. Click the Submit For Posting button.
Modify Journal Entries for An Expense Report page

The system may take several moments to process your request. If you have a budget checking Warnings or Errors, you will receive a message.  Remember that you can still proceed with posting if a warning message is received, but Error messages must be resolved before posting.

Step 5: Post Liabilities

Navigation: Main Menu >  Travel and Expenses > Process Expenses > Expense Processing

  1. Open existing Run control or create new. (If you are creating new run control page then select your BU in “Selected Business Units” tab).
Expense Processes tab

You will see no. or count in Post Liabilities.

  1. Select “Post Liabilities” check box.
  2. Click Run button.

The process will run in background and once it ran successfully, you can see the accounting entries in Travel and Expense module. The Journal generator process must be run in order to move the accounting entries in GL.

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