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 manually correct Grant/Project related Accounting Entries in the General Ledger in ctcLink.
Audience: General Ledger Accountant/Finance Supervisor.
You must have at least one of these local college managed security roles:
- ZZ GL Journal Entry
You must also set these User Preference Definitions:
If you need assistance with the above security roles or User Preference Definitions, please contact your local college supervisor or IT Admin to request role access.
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.
Correcting Grant/Project Accounting Entries in General Ledger
Payroll Combo Codes and/or SF Item Types will need to be updated within their respective areas to reflect the correct Grant ChartString. Communicate with whomever creates Combo Codes/SF Item Types to make sure the information is correct prior the next Payroll or Second Journal Set process.
Recommended to verify the corrections have been made in Payroll/Student Financials and then follow this QRG documenting the 'pay periods' or 'time frame' within the Journal Long Description field.
Navigation: General Ledger > Journals > Journal Entry > Create/Update Journal Entries
- The Create/Update Journal Entries search page will display. Select Add a New Value tab.
- Enter or lookup the Business Unit.
- Enter the Journal Date (needs to be within an Open/Current Month).
- Select Add.
Keep the Journal ID as 'NEXT' for the system to auto-populate to the next Journal ID number.
- The Create/Update Journal Entries page displays. Enter a meaningful Long Description.
- Select the Ledger Group = ACTUALS.
- Select the Source = EXT for External.
- Select the Lines tab.
Use the Attachment link to attach documentation or reason why the grant or project-related correction. This is important to attach documents at this stage for easy reference during future Grant/Award audits.
- The Lines tab page displays. First, enter the ChartString that needs to be corrected. Field values such as:
- Enter the Account.
- Enter the Operating Unit.
- Enter the Fund.
- Enter the Department.
- Enter the Class.
- Enter the Amount.
- Enter the State Purpose.
- Mark the checkbox. In the 'Lines to add' field enter the amount of rows to add and select the plus icon [+].
- The system will copy down the number of entered lines and copy down the ChartString but not the Account or Amount field values.
- Enter the Account field values and associated Amounts of the ChartString you'd like to correct.
- Unmark the box and enter 1 in the Lines to add box and select the plus icon [+]. Update the necessary correcting line item.
Notice this example is reducing an Operating/Local department and increasing a 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. Grant ChartStrings require an active budget and a PC Business Unit, Project ID, Activity ID, and an Analysis Type.
- Mark the checkbox and in the Lines to add box, enter the number of lines and select the plus icon [+]. The lines will copy down the ChartString. Enter the valid Account field values and associated Amounts.
- Select the Save button. The Journal ID will populate and the Totals will update below.
- Next is to add two more lines using the 'Lines to add' and the plus icon [+] to 'Cash Balance' the Journal, using GL Account 1000199.
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. Also in order to balance the journal entry, a cash balance line item is added for each Fund total. The Account 1000199 = Internal Cash is for moving money (expenses or revenues) from one Fund to another.
- Select the Save button and then select OK. The Totals will recalculate.
- In the Process field drop-down menu, select Edit Journal.
- Select Process to budget check the ChartStrings and Total Amounts.
Your journal should be 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.
- A message window will appear. Select the Yes button.
- From the Process drop-down arrow, select Submit Journal.
- 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. For more information on Grant/Project Budget Errors please see QRG Project Tree and Correcting Grant/Project Errors.
- Optional to select the Approval tab to review the Approval Status.
When corrections made in GL get picked up by the Project Costing process, they generate a "Billable" cash line that you will see in project resource queries such as QFS_PC_PROJ_RESOURCE_PYMNT. Since cash lines should not be billed in a grant, the college will need to do a GL journal to back out the cash line using a GLE analysis type and put back in the cash line using a DNC analysis type. This will generate an offsetting billable cash line that will net to zero when combined with the original.
For more information please see the following QRGs: Analysis Types and Creating and Submitting a Manual Journal Entry.
Video Tutorial
The video below demonstrates the process actions described in steps listed above. There is no audio included with this video. Select the play button to start the video.
Video Tutorial via Panopto
View the link to Correcting Grant/Project Accounting Entries in General Ledger. This link will open in a new tab/window.
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