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Journal Entry Transfer (JET) Training November 2013 - PowerPoint PPT Presentation


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Journal Entry Transfer (JET) Training November 2013. Presented by: CI Finance Team. CI Finance Team - Presenters. Phyllis Vicker Senior Staff Accountant - Treasury Jennifer Schweisinger Accounting Supervisor. What is a JET?. Form that takes the place of the “Chartfield Change Form”

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Presentation Transcript
ci finance team presenters
CI Finance Team - Presenters
  • Phyllis Vicker
      • Senior Staff Accountant - Treasury
  • Jennifer Schweisinger
      • Accounting Supervisor
what is a jet
What is a JET?
  • Form that takes the place of the “Chartfield Change Form”
  • Corrects GL (general ledger) entries
  • Corrects A/P (accounts payable) entries
  • Used to change an account, fund, department, program, class, or project
examples of use
Examples of Use
  • Correct errors from the Data Warehouse
  • Correct errors on ProCard statements
  • Submit Chargeback requests between campus departments:
      • Phone, postage, TPS events, OPC work orders, OPC utilities, fuel, Pharos
accounting 101
Accounting 101
  • Normal ending balances:
      • Expense accounts = debits (+)
      • Revenue accounts = credits (-)
accounting 1011
Accounting 101
  • Equate this to your own ‘bank statement’
      • Money spent shown as a debit (+)
        • i.e. your ‘debit card’
      • Deposits shown as a credit (-)
accounting 1012
Accounting 101
  • If there is a debit (+), there must be an offsetting credit (-)
  • Balance must equal zero!
accounting 1013
Accounting 101
  • Example from the Data Warehouse

Debit (+)

Debit (+) = Expense

Original Entry

accounting 1014
Accounting 101
  • Example from the Data Warehouse

Original Entry

Debit (+)

To Correct Original Entry

Credit (-)

accounting 1015
Accounting 101
  • Example from the Data Warehouse

Final Entry

Move expense to correct Dept

accounting 1016
Accounting 101
  • Example from a ProCard Statement

Debit (+)

Debit (+) = Expense

Original Entry

accounting 1017
Accounting 101
  • Example from a ProCard Statement

Original Entry

Debit (+)

To Correct Original Entry

Credit (-)

accounting 1018
Accounting 101
  • Example from a ProCard Statement

Final Entry

Move expense to correct Account

how to fill out the jet form
How to fill out the JET Form

Must “Enable Macros”

how to fill out the jet form1
How to fill out the JET Form

Click for instructions

how to fill out the jet form2
How to fill out the JET Form

Date defaults to today’s date

Change if necessary

how to fill out the jet form3
How to fill out the JET Form

"Transfer From" and "Transfer To" entity should always be the same business unit

how to fill out the jet form4
How to fill out the JET Form

Enter your contact information

how to fill out the jet form5
How to fill out the JET Form

Enter the subject -- will appear on Data Warehouse Reports

how to fill out the jet form6
How to fill out the JET Form

For internal use only

how to fill out the jet form7
How to fill out the JET Form

If a “Construction Fund” click check box

Email will be sent to A/P for processing

how to fill out the jet form8
How to fill out the JET Form

Enter your changes here!

Remember Accounting 101?

how to fill out the jet form9
How to fill out the JET Form

Total must equal zero

how to fill out the jet form10
How to fill out the JET Form

Maximum 30 characters -- will appear on Data Warehouse Reports

how to fill out the jet form11
How to fill out the JET Form

Need more than 30 lines -- click “Show/Hide Page 2”

how to fill out the jet form12
How to fill out the JET Form

Click “Email/Submit Form”

Does not submit JET yet, must save and then create an Outlook email

how to fill out the jet form13
How to fill out the JET Form

Save a copy for your files and for submission

Save as .xlsm

how to fill out the jet form14
How to fill out the JET Form

Click on the email on the Taskbar

Creates an email, addressed to CIJet@csuci.edu

how to fill out the jet form15
How to fill out the JET Form
  • Email “To” is CIJet@csuci.edu
  • JET is attached
  • Don’t forget to attach backup!
  • Hit “Send”
jet vs ret
JET vs. RET

JET is a transfer between the same entity

jet vs ret1
JET vs. RET

RET is a transfer between different entities

acceptable types of back up
Acceptable Types of Back-Up
  • Copy of report from the Data Warehouse
acceptable types of back up1
Acceptable Types of Back-Up
  • Copy of ProCard Statement
where can we find the jet form
Where can we find the JET form?
  • CI Accounting website
  • Under “Forms”
important information
Important Information
  • Approval signature(s) not needed
  • If moving expenses that are older than 90- days, please attach a scanned copy of the “Expense Transfer Adjustment Form”
  • JET Form functionality will not work on
      • Apple computers
      • If you access email through Webmail
      • Contact Jennifer Schweisinger (x3510) for a work-around
submission information
Submission Information
  • Jet Form is due the 25thof each month
      • Changes will appear in the following months financial statements (Data Warehouse)
  • JET Form and back-up must be submitted electronically…no paper copies
  • JET Form and back-up must be submitted to the following email address:
      • CIJET@csuci.edu
questions
Questions?
  • Phyllis Vicker
      • Senior Staff Accountant – Treasury
      • phyllis.vicker@csuci.edu
      • X 8578
  • Jennifer Schweisinger
      • Accounting Supervisor
      • jennifer.schweisinger@csuci.edu
      • X 3510
slide40

Example #1 – From Data Warehouse

Need to correct this entry

slide41

Example #2 – From ProCard Statement

Need to correct this entry