Creating a Standard Journal Entry - 3a
Purpose: Use this document as a reference to creating a standard journal entry in ctcLink.
Audience: Accounting Staff
Standard Journal Entries (SJEs) enable you to automate the entry of similar or identical journals. The only type of SJE at SBCTC is model. Note that all SJEs and their models must be for the same business unit.
The first step to creating SJEs is establishing the model entry.
Creating a Standard Journal Entry Model
Navigation: Main Menu > General Ledger > Journals > Journal Entry > Create/Update Journal Entries
- Enter existing search criteria or click the Add a New Value tab on the Create/Update Journal Entries page to add a new value.
- If it did not automatically populate, enter or select the business unit in the Business Unit field.
- Enter a journal ID for the standard SJE in the Journal ID field.
Note: Because you are setting up the model for the standard journal entry, you do not want to leave ‘NEXT’ in this field.
- Click the Add button.
- The Header page displays journal header information that uniquely identifies a journal, such as business unit, journal ID, and journal date. This page also contains options for setting, adjusting and reversing entries.
- Enter an appropriate description in the Long Description field, i.e. “Advertising Accrual.”
- Enter or select 'ACTUALS' in the Ledger Group field.
- Enter ‘ONL’ in the Source field. This is the code used for manual journal entries.
- Use the SJE Type drop-down button to select Model -- Do Not Post.
- When the Header page is complete, click the Lines tab.
Entering Line Items
- Use the Lines page to record the transaction lines that comprise the journal.
Note: SBCTC requires the presence of a Business Unit (*Unit), Account, Dept, Fund, Class, and State Purpose for every journal entry. Additionally, grant and project related journal entries require a Project Bus Unit, Project Number, Activity, and Analysis Type. During processing of the journal entry, the system will use this information to check against the control budget.
- Enter or select the appropriate account in the Account field.
- Enter or select the appropriate operating unit in the Oper Unit field.
- Enter or select the appropriate fund in the Fund field.
- Enter or select the appropriate department in the Dept field.
- Enter or select the appropriate class in the Class field.
- Enter the journal entry amount in the Amount field.
- Enter or select the appropriate state purpose in the State Purpose field
- Click the Insert Lines button to add the off-setting item with the Copy Down ID functionality.
- Enter or select the appropriate account for the second line item in the Account field.
Note: The journal entry is balanced when the value in the Total Debits column is equal to the value in the Total Credits column. When you have a balanced journal, you may begin processing the journal directly from this page.
- Click the Save button.
- Next, edit the model journal. Click the Process button.
- Click the OK button to acknowledge the system message that you have created an SJE model journal.
Note: The Journal Status is now ‘M’ (Model). The normal journal that you use as a model should have a valid status. The system does not post Model SJEs to the general ledger, and they cannot be changed or deleted after you execute the edit process.
Next, define the standard journal entry based on the model journal just created.
Navigation: Main Menu > General Ledger > Journals > Standard Journals > Define Standard Journals
Defining a Standard Journal Based on the Model
- Enter existing search criteria or click the Add a New Value tab on the Define Standard Journal page to add a new value.
- Enter a meaningful journal ID for the standard journal in the StandardJournal field.
- Click the Add button.
- Use the Define Standard Journals page to define the standard journal that becomes the high-level key for all journal entries generated using this definition.
- Enter a brief description of journal that you want to create in the Description field (this is field at the very top of the screen to the right of the SJE ID field).
- Enter a meaningful description of the standard journals to be created in the Description field (this is the field in the SJE Detail section of the screen).
- Use the SJE Type drop-down button to select the SJE type. SBCTC will only use ‘Recurring on a Schedule.’
- Use the Journal ID field to enter or select the ID of the model journal that you created earlier. This ID provides the system with information about the model that is linked to the standard journal.
- Enter or select the appropriate date that the model journal was created into the Journal Date field.
- Use the Schedule drop-down button to select the processing frequency for the SJE.
- Use the From Date and the To Date fields to define the time range of the SJE entries.
- If you want to add lead days to have the journal entry ready for creation each month, use the Journal Creation Lead Days field to enter the number of days in advance of the journal date that you want the standard journals to be ready for creation.
- Click the Save button.
Finally, post to the General Ledger using the SJE.
Creating Standard Journals Postings
- Click the Create Standard Journals menu item at the top of the screen.
- Enter an existing Run Control ID or use the Add a New Value tab on the Create Standard Journal page to add a new value.
- Enter a meaningful Run Control ID for the standard journal in the Run Control ID field.
Note: A Run Control ID is an identifier that, when paired with your User ID, uniquely identifies the process that you are running. The Run Control ID defines parameters that are used when a process is run. These parameters ensure that when a process runs in the background, the system does not prompt you for additional values.
- Click the Add button.
- Use the Create Standard Journals Request page to specify the parameters for running the SJE process.
- Use the Process Frequency drop-down button to select the processing frequency. SBCTC will use ‘Always.’
- Enter or select the appropriate unit in the Unit field.
- Use the From SJE and the To SJE fields to define the journal range of the SJE entries.
- Enter a brief description of the processing request in the Description field.
- SBCTC is utilizing budget commitment controls. Select the Recalculate Budget Date checkbox to create a standard journal entry with a budget recalculation.
- Use the Process Scheduler Request page to enter or update parameters, such as server name and process output format.
- Use the Server Name drop-down button to select the appropriate processing server for the request.
- Click the OK button.
Note: A Process Instance number appears. This number helps you identify the process you have run when you check its status.
- Click the Process Monitor link.
- Use the Process List page to view the status of submitted process requests.
Note: The process has finished successfully when the Run Status column indicates ‘Success.’
Edit and Post standard journals just like regular journals. See the Editing a Journal and Posting Journals QRGs.