How To Create A Journal Entry

Basic Definitions: 

 Journal – A batch of accounting transactions entered online or input from a feeder system (APPO, Payroll, and so on) to the General Ledger. It consists of multiple journal lines and one Journal Header, identified by the Journal ID. Information about the journal as a whole is stored in the Journal Header table. On all journal entries total debits must equal total credits. (Also referred to as a Journal Entry) 

Journal Line – This is a record storing one line of a double-sided, balanced entry for a given journal. The sum of the monetary amounts for the journal lines in one journal totals zero (total debits = total credits).

How to create a journal:

  1. Login to MySlice using your NetID and password
  2. In the Financial Services pagelet click on the Journal Entry link
    Journal Entry
  3. Click on the Add button from the Create Journal Entry page
    create_journal entry
    NOTE: At year end, this is where the date needs to be changed to reflect the correct fiscal year.
  4. Fill in the Long Description
    journal_header
  5. We recommend the following guidelines:
    • Any identifying tracking numbers should be listed first: e.g., ID#, PO#, REQ#, INV#; etc.
    • Secondly, make a note of what the journal entry is: e.g., software purchase, room rental, November 5th copies; etc.
    • Next, include the vendor name;
    • Lastly, make note as to the purpose of the Journal Entry transaction: e.g., if you are moving or correcting an entry.

    Please note: More detailed information can be added after this primary information is included in the long description.

  6. Click on the lines tab
  7. Enter your Chartstring(s) in the boxes provided
    journal lines tab
    Notes:

    • Next to each chartfield note the lookup iconps_lookup to assist you with locating various chartfield(s).
    • Add line(s) you will need for your transaction by clicking on the add icon (Note: Add multiple lines by entering exact number of lines then click on the add icon).
      journal_add_lines
    • Double check that your debits equal your credits
      journal_debits_credits
  8. Once all lines have been added, click on the process button to edit and validate your journal
    journal_edit
  9. The journal status must be “V” and the Budget status must be “v”.  
    journal_valid_valid
    Status Definitions:

    • V = Valid
    • N = Not checked
    • E = Error

    Click on the errors tab to determine the errors that exist. These must be fixed and then the journal can be re-edited before the notification process.
    journal_errors

  10. Click on the Notify button
    journal_notify
    Refer to the departmental approver procedures to determine who must be notified of the transaction.  If you are entering information that is not in your department or area be sure to notify the other department/area about the journal entry you are submitting.
  11. Visit the Journal Notification page to learn more about the journal notification process.