ctcLink Reference Center9.2 Finance9.2 FIN - Grants/Projects/Contracts Correcting at the Source9.2 Correcting Grant/Project Accounting Entries in General Ledger (External Transactions from Payroll or Student Financials)

9.2 Correcting Grant/Project Accounting Entries in General Ledger (External Transactions from Payroll or Student Financials)

Purpose: Use the following document as a reference how to correct Grant/Project related Accounting Entries in the General Ledger.

Audience:  General Ledger Accountant/Finance Supervisor

External Journals such as from HCM (Payroll Journals) and CS (SF Journals) have been journalized and posted into the General Ledger. If Grant/Project-related corrections are needed, a manual journal entry or upload is needed to make the necessary corrections using the GLE Analysis Type in order for the correction to be marked as Billable for Cost Reimbursable Contracts. Note the DNC - Do Not Collect Analysis Type is used for Cash Balancing and for lines you do not want to be Billed for reimbursement.

Navigation:  NavBar > General Ledger > Journals > Journal Entry > Create/Update Journal Entries

  1. The Create/Update Journal Entries search page will display.
  2. Select Add a New Value tab.
  3. Enter the Business Unit.
  4. Enter the Journal Date (needs to be within an Open/Current Month).
  5. Select Add.

Keep the Journal ID as 'NEXT' for the system to auto-populate to the next Journal ID number.

  1. The Create/Update Journal Entries page displays.
  2. Enter a Long Description.
  3. Select the Ledger Group.
  4. Select the Ledger.
  5. Select the Source as EXT for External.
  6. Select the Lines tab.

Use the Attachment link to attach Documentation or reason why of Grant Payroll Correction.  This is important to attach documents at this stage for easy reference during future Grant/Award audits.

  1. The Lines tab page displays.
  2. Enter the ChartString that needs to be corrected;
    1. Enter the Account.
    2. Enter the Operating Unit.
    3. Enter the Fund.
    4. Enter the Class.
    5. Enter the Department.
    6. Enter the Amount.
  3. In the Lines to add field enter the amount of rows to add and select the plus icon.

For Grant/Project related lines, add the PC Bus Unit (Project Costing Business Unit) in order to enter the associated Project and Activity.

  1. Enter the necessary correcting line items.

Notice this example is reducing the Operating/Local department and increasing the Grant Fund 145 ChartString. These line items need to be marked as Billable (labeled as GLE) in order to be picked up from Project Costing and billed for reimbursement.

  1. Add two more lines to 'Cash Balance' the Journal, using GL Account 1000090

Notice the Grant ChartString has an Analysis Type of DNC = Do Not Collect so the Cash Balancing lines are not tagged as Billable Line items.

  1. Select Save.
  2. Your Journal number will be created, i.e. Journal ID 0000104009.
  3. Select Ok.
  1. In the Process field drop down menu, select Edit Journal.
  2. Select Process to budget check the ChartStrings and Total Amounts.

Your journal is balanced at this point, where the Total Debits = Total Credits. The Journal and Budget Status is N. Your journal must equal in order to be submitted for approval.

  1. A message window will appear.
  2. Select Ok.
  1. From the Process drop down arrow, select Submit Journal.
  2. Select the Process button to submit your journal for approval.

In order to submit your Journal for approval, your Journal Status and Budget Status must be marked as 'V' for Valid.

  1. Optional to select the Approval tab to review the Approval Status.
  1. Process complete.

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