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JOURNAL CATEGORIES & DESCRIPTIONS

There are eleven possible journal categories to choose from. Please take the time to pick the correct category from the following list.

ACCRUAL: Use for adjustments to accrual balance sheet accounts to include both accrued expenses – expenses incurred but not yet paid and accrued revenue – revenue that has been earned but for which payment has not yet been received.  Includes all AP (Accounts Payable) and AR (Accounts Receivable) entries including subsequent reversals or recognition entries

• Journal Short Description: Short Title of Accrual & Time Period.
  • Example 1: Book payables for Bobcat Depot at 6/30/19.
  • Example 2: Accrue Men’s BB Camp revenue held in June 2019.
• Journal Header Long Description: Include a full description of Title of Accrual & Time Period as a whole as well as contact information such as name/number/email.
  • Example 1: Book payables for Bobcat Depot at 6/30/19. Joe Smith Smith@ohio.edu 7-9999
  • Example 2: Book AR for Men's BB Camp held in June but monies received in July.  Joe Smith Smith@ohio.edu 7-9999
• Line Description: Detail that supports the accrual transaction including all invoice information.  
  • Example 1: Record Payable for Invoice 987-451 dated 7/1/19; Apple; PO 45447; Q=27 Ipads.  Goods received 6/30/19 but invoice not recd until after AP deadline for 2nd close invoices.
  • Example 2: Book AR for Men's BB Camp held in June but monies not deposited until July - 5524934 Boys' Basketball Team Camp Receipt Number - 2003778 Document Number 7/10/2019.

ADJUSTMENT: Use for other adjustments, Inventory cost of goods sold adjustments & other inventory adjustments, Endowment distributions, Indirect cost adjustments, Loans, Revenue allocations, Sales Tax adjustments, escheatment entries, Payroll Dept overpayments/adjustments, etc. & also any associated corrections to these types of entries. Adjustments also include bank account entries such as interest income and bank fees, merchant service fee allocations and waiver and scholarship allocations, as well as corrections to any of these types of entries.

• Journal Short Description: Short description of what is occurring. 
  • Example 1: Airport inventory adjustments January 2019.
  • Example 2: Cost of Goods sold Campus Rec Inventory January 2019.
• Journal Header Long Description: Include a full description of what is occurring as a whole as well as contact information such as name/number/email.
  • Example 1: Airport inventory adjustments January 2019. Joe Smith   Smith@ohio.edu 7-9999
  • Example 2: Cost of Goods sold Campus Rec Inventory January 2019 Joe Smith Smith@ohio.edu 7-9999.
• Line Description: Detail that supports adjustment.  
  • Example 1: Reduction of King Air parts inventory and increasing the cost of goods sold for Airport Operations.
  • Example 2: Adjusting inventory to actual for Golf ball inventory counts occurring 12/31/18.

AUTOACCOUNTING: (FINANCE USE ONLY) Use to correct auto-accounting on IDC and Revenue from Mass Adjust process (current FY time period).  Could include transfer codes used in Mass Adjust process.

• Journal Short Description: Correct auto-accounting on IDC and Revenue from mass adjust (current FY time period).
  • Example 1: Correct Revenue/IDC autoaccounting source from mass adjust FY19                 
• Journal Header Long Description: Correct auto-accounting on IDC and Revenue from mass adjust (current FY time period) including detail of segments and PTA corrected and contact information such as name/number/email.
• Example 1: Correct Revenue and IDC auto-accounting from source 445200 to 443000 on PTA 15016-18-1334664 for FY19. Cindy Perry perryc@ohio.edu 7-9999. 
• Line Description: Correct Revenue or IDC including detail of segments and PTA corrected.  
  • Example 1: Correct Revenue and IDC auto-accounting from source 445200 to 443000 on PTA 15016-18-1334664 for FY19.

BALANCE ROLLFORWARD: (FINANCE USE ONLY) Used to roll fund balances forward. (Object code 300200 on both sides of the transaction. July entries only).

• Journal Short Description: Short description of what is occurring. 
  • Example 1: Adjust fund balance for Finance.                           
• Journal Header Long Description: Include a full description of what is occurring as a whole as well as contact information such as name/number/email.
  • Example 1: Adjust fund balance for Finance departmental accounts. Joe Smith Smith@ohio.edu 7-9999
• Line Description: Detail that supports adjustment.  
  • Example 1: Adjust fund balance for GAFR designated accounts. 

CORRECTIONS-A/P: Use for corrections where the original transaction to correct is an invoice paid through a Purchase Order or a Payment Request Form/Direct Payment Form.  This also includes student travel, reimbursements, or other items turned in on paper and keyed into Oracle by the AP office. Includes reallocations of AP payments. Includes corrections to AP credit memos.

• Journal Short Description: Short description of why the correction is necessary. 
  • Example 1: Correcting the organization codes on invoices.
  • Example 2: Correcting the activity code charged on a payment request.                                       
• Journal Header Long Description: Include a full description of why the correction is necessary as a whole as well as contact information such as name/number/email.
  • Example 1: Correcting invoices charged to wrong organization codes. Joe Smith Smith@ohio.edu 7-9999
  • Example 2: Correcting activity codes on payment requests due to newly established segment. Joe Smith Smith@ohio.edu 7-9999
• Line Description: Detail that supports the accounting transaction. Including original transaction # & date posted; Supplier, full invoice description, expenditure item date, etc.
  • Example 1: Change org code from 20100 to 200110 - 441873 | Smith, Joe L | SCIQUEST C0085611 Inv Date:09-MAY-19 GL Date:09-MAY-19 CHECK | INV#:312565402001 | OFFICE DEPOT INC | $118.07 | Dial(R) Basics Liquid Hand Soap, 7.5 Oz.
  • Example 2: Change activity code from 0000 to 7699 1251326 | INV# 8585-ATHENS FILM FESTIVAL SCREENING FEES | 8585 | INV# 8585-ATHENS FILM FESTIVAL SCREENING FEES

CORRECTIONS-INTERNAL BILL: Use for corrections where the original transaction to correct is an Internal Billing.  Also use for allocations/reallocations using 48XXXX or 78XXXX.  This category is for object codes 48XXXX and/or 78XXXX only where the last four digits of the object codes balance to zero.

• Journal Short Description: Short description of why the correction is necessary. 
  • Example 1: To credit duplicate charge on FA-1234567 for OCT 2020
  • Example 2: Correct Interna