9.2 Creating a Journal Entry Using SpeedTypes
Purpose: Use this document as a reference for creating a journal entry using Speed Types.
Audience: Finance or Business Office Staff.
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.
Navigation: NavBar > Navigator > General Ledger > Journals > Journal Entry > Create/Update Journal Entries
- Use the Add a New Value tab of the Create/Update Journal Entries search page to add a new journal entry.
- Select in the Journal ID field - Enter the desired information into the Journal ID field. Enter a valid value e.g. "SPEEDTYPE".
- Select 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 has options for setting, adjusting, and reversing entries and foreign currencies.
- Enter the desired information into the Long Description field. Enter a valid value e.g. "Miscellaneous office expenses". The more detail or information provided, will help further down the line when reconciling.
- Use the Ledger Group field to specify the ledger group to which you want to post the journal.
- Use the Source field to specify the option for entering and editing journals. Select the Source field and enter the desired information. Enter a valid value e.g. "ONL".
- Select the Lines tab.
- Use the Lines page to record transactions for the journal. The system uses the ChartField values that you enter here to classify the transaction.
- To create a journal entry using SpeedTypes, you will need the SpeedType field. If the default template you are using for your journal entry does not include the SpeedType field, then you must select a template that does include it.
- Use the SpeedType field to enter a speed type - Select in the SpeedType field and enter the desired information. Enter a valid value e.g. "220-AS".
- After you enter a value in the SpeedType field, move out of the field by selecting [Tab].
- When you move out of the SpeedType field, the system populates the ChartFields defined in the SpeedTypes with appropriate values. In this case, the system populates the Account field with the account number that is defined in the 220-AS SpeedType.
- Select the journal entry horizontal scrollbar.
- In this scenario, $157.00 is drawn from the 220-AS account. Select the Amount field and enter the desired information. Enter a valid value e.g. "-157".
- Select the Insert Lines button.
- Select the Account field. Enter the desired information into the Account field. Enter a valid value.
- Select the horizontal scrollbar.
- The system balances the amounts in the Base Amount fields automatically.
- Select the Calculate Amounts icon to update the journal lines. This will calculate which of the foreign Amount, Exchange Rate, and Base Amount fields are calculated for the line item and how they are calculated. System Rule is the default calculation rule.
- The Process field will default to Edit Journal. Select the Process button.
- A Message will display asking if you would like to wait for confirmation that the Edit process has completed. Select the Yes button.
- After editing, the Journal Status value is V (valid) and the Budget Status value is V (valid). You can post this journal like any other when you are ready. For help with posting, please see QRG 9.2 Posting Journals.
- End of procedure.