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Online Journal Entry. Finance Business Solutions. Shaleen Batra Finance Business Solutions – User Support & Training. Agenda. Overview Creating and Editing Journals Attaching Supporting documents Approval and Posting Scenarios Journals with Error Deleting and Copying Journals.

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Presentation Transcript
slide1

Online Journal Entry

Finance Business Solutions

Shaleen Batra

Finance Business Solutions – User Support & Training

slide2

Agenda

  • Overview
  • Creating and Editing Journals
  • Attaching Supporting documents
  • Approval and Posting
  • Scenarios
  • Journals with Error
  • Deleting and Copying Journals
slide4

Manual Journals

  • There are two ways to process Manual Journals
slide5

Enter journal with appropriate supporting documentation attached

  • Enter journal with appropriate supporting documentation attached

Manual Journal

Option A

Manual Journal

Option B

  • Notify Reviewer
  • Submit for Approval

ENTERER

ENTERER

Overview

REVIEWER

  • Approve & Post Journal
  • Approve and Post Journal
  • Review Journal and notify enterer
  • Submit for Approval

MANAGEMENT

ACCOUNTANT

ENTERER

MANAGEMENT

ACCOUNTANT

slide6

L30 and L50 forms

L30

Two lines: One Debit and One Credit

L50

Multiple lines

Instead of completing L30 and L50 forms – enter Journals directly in NS Financials

Online Journal should only be used for Max 10 lines. For more than 10 lines Spreadsheet journal should be used.

slide7

Business Unit: UNSWA

Journal ID: NEXT

Date: Current Date

slide9

Header – Enter a journal long description, change the Ledger Group if necessary, use the journal source as ONL unless otherwise instructed and add attachments

  • Lines- enter your journal lines.
  • Totals - ensure your journal line totals balance to zero (i.e., your debits should equal your credits).
  • Errors - check your journal errors (useful only after you have edit checked the journal).
  • Approval – approvers use this tab to approve or deny the journal.
  • Approvers – select the person who is responsible for approving the journal.
long description
Long Description
  • What- is being transferred/ corrected
  • Where - it is being transferred to/from
  • Why- the original transaction was incorrect
  • Who- is requesting and who is approving the journal
  • When- what timeframes are the journal in relation to
  • How- what supporting documentation there is to substantiate the reason for a manual journal e.g. reference to emails, reports, invoices, drill-downs

50 characters

attachments
Attachments

Attach any supporting documents relevant to the journal

  • Correction Journals should have a document that shows the original entry (nVision reports)
  • Transferring a group of expenses must have drilldown as backup
  • Multiple attachments can be uploaded
line item description
Line Item Description

The line description should clearly explain each journal line item and should contain enough relevant

information for stakeholders to identify what the line item relates to

Example A:

  • COR 6441 to 6486

Example B:

  • TRF Salary S BATRA SSIS to OP001

It is up to the discretion of the relevant Finance

teams within each Faculty/Division as to the

application of naming conventions in the Line

Item Description, however Finance recommends

to use the naming convention given on the next

slide;

scenarios
Scenarios
  • Expense Account – Journal Entry to transfer from PS30614 to PS24321

1

Expense Account Journal – Expense was coded to PS30614 which is incorrect project.

It should have been coded to PS26329.

  • Expense Account – Journal Entry to transfer from PS19433 to PS26329 (refer to scenario sheet)

2

Revenue Account – Journal Entry to transfer from PS19319 to PS19317 (refer to scenario sheet)

3

slide23

Enter journal with appropriate supporting documentation attached

  • Enter journal with appropriate supporting documentation attached

Manual Journal

Option A

Manual Journal

Option B

  • Notify Reviewer
  • Submit for Approval

ENTERER

ENTERER

Approval Options

REVIEWER

  • Approve & Post Journal
  • Approve and Post Journal
  • Review and notify enterer
  • Submit for Approval

MANAGEMENT

ACCOUNTANT

ENTERER

MANAGEMENT

ACCOUNTANT

slide26

Enter journal with appropriate supporting documentation attached

  • Enter journal with appropriate supporting documentation attached

Manual Journal

Option A

Manual Journal

Option B

  • Notify Reviewer
  • Submit for Approval

ENTERER

ENTERER

Approval Options

REVIEWER

  • Approve & Post Journal
  • Approve and Post Journal
  • Review and notify enterer
  • Submit for Approval

MANAGEMENT

ACCOUNTANT

ENTERER

MANAGEMENT

ACCOUNTANT

option b send for review
Option B*: Send for Review

* Refer to slide 5 for more information on Options

option b journal review
Option B*: Journal Review

Either inform the enterer via notify button or send an email via outlook

//

journal approval
Journal Approval

Menu for Approvers

post journal
Post Journal

Approver to Post

///

journals with errors1
Journals with errors

Contact your Management Accountant

http://www.fin.unsw.edu.au/InformationCentre/WhoCanHelp.html#8

deleting journals
Deleting Journals

Journals cannot be deleted once posted to the Ledger. Create another journal to correct the error

journal entry and approval
Journal Entry and Approval

Enter journal Long Description

Add attachments

Enter Journal Lines

Select Approver

Save Journal

Edit Journal Process

Notify or Submit for approval

If Notifying reviewer then submit later

Journal Enterer

Workflow will be sent to the Approver

Workflow will be sent to the Reviewer

Journal Reviewer

  • Review Journal – Link in the email
  • – Check accounting and Chartfields
  • Review supporting documents
  • Once reviewed inform journal enterer via email or notify button

Journal Approver

  • View Journal for Approval – Link in the email
  • – Worklist
  • – Journals/ Journal Entry/ Manage Journal Approver
  • Check accounting and Chartfields
  • Review supporting documents
  • Approve Journal
  • Post Journal

////

who can help
Who Can Help?

For any Accounting Assistance contact

your Management Accountant or Finance

Manager

slide43

User Support & Training

  • Finance Website – Training

https://www.fin.unsw.edu.au/NSF_KnowledgeBase/FKB_Training.html

  • Training Enquiries
      • Ext. 53550 / 57665, Email fti@unsw.edu.au