Transcript Policies And Procedures

G/L Journal Entry
Procedures
By:
Finance & G/L Systems Department
G/L Journal Entry Procedures
 In a fully automated processing environment J/E’s
should be rare. An alarm should be raised with each
situation in which a J/E is required. The completion
of a J/E should generate “Why” and “How” questions.
G/L Journal Entry Procedures
Purpose of J/E’s
 To reclassify transactions resulting from processing
errors.
 To overcome system errors / limitations.
 Processing errors and system errors / limitations are
revealed with J/E’s and should be investigated and
corrected if possible.
G/L Journal Entry Procedures
 Copy of the J/E template will be available on the G/L
website
Journal Entry Template
DEPARTMENT NAME
JOURNAL No.
PROJECT
ACCOUNT
DATE
ID
NUMBER
ACCOUNT DESCRIPTION
Total
DEBIT
CREDIT
AMOUNT
AMOUNT
-
Description of Entry (REQUIRED):
PREPARED BY:
DATE:
APPROVED BY:
DATE:
ENTERED BY:
DATE:
-
G/L Journal Entry Procedures
 The Preparer creates the J/E and attaches all
applicable backup to it. (Required)
 Attached backup should clearly outline the purpose of
the J/E & include copies of all relevant source
documents. (Required)
 The J/E is then forwarded to the Supervisor/Director
or above for review and approval (Only Finance &
Administrative Services division
Supervisors/Directors and above can approve J/E’s).
(Required)
G/L Journal Entry Procedures
FINANCE & G/L SYSTEMS
EXECUTIVE DIRECTOR
MARK CLIFTON
CPCC FOUNDATION FINANCE
DIRECTOR
VALERIE FOX
CPCC FOUNDATION FINANCE
ACCOUNTING SPECIALIST II
ANDY STOLLMACK
MIS TRAINING & G/L SYSTEMS
DIRECTOR
IAN BRICE
G/L REPORTS
ACCOUNTING SPECIALIST II
PAT BLAKLEY
KATRINA GORDON
SERVICES CORP ACCOUNTING
FINANCIAL ANALYST
KATHY WHITE
G/L SYSTEMS
SYSTEMS ACCOUNTANT
NORMA HENRY
G/L Journal Entry Procedures
BUDGETS & PAYROLL
EXECUTIVE DIRECTOR
ELENA RANDOLPH
FINANCIAL SERVICES
EXEC SECRETARY
CINDY SEVERT
PAYROLL
DIRECTOR
SUZANNE MULLIGAN
PAYROLL
PAYROLL SUPERVISOR
ANNETTE HAMILTON
BUDGETS
SUPERVISOR
ANNE COOK
PAYROLL
POSITION BUDGET ANALYST
NANCY KING
Payroll
Payroll Tech
Melissa Long
Melissa Stewart
Payroll
Payroll Specialist
Debra Gaddy
Teresa Summerour
BUDGETS
ACCOUNT SPECIALIST
Cathy Mclendon
PAYROLL
ACCOUNTING SPECIALIST
RHONDA ROGERS
CONSTRUCTION
SYSTEMS ACCOUNTANT SR
KEITH BEAM
Budgets
Systems Accountant
BUDGETS
ACCOUNTING SPECIALIST II
LINDSEY OUTEN
G/L Journal Entry Procedures
 All J/E’s are to be approved before they are entered
regardless of preparer level. (Required)
 After authorization the J/E goes to a designated
person with security access to enter J/E’s into
Colleague.
G/L Journal Entry Procedures
 Generally, only Finance & Administrative Services
personnel have access to enter a J/E into Colleague.
 At the Colleague J/E input screen the Enterer
records their name as the “Author” and then records
both the name of the Preparer and the Description of
the entry (from the J/E template) into the “Comments”
section of the screen.
G/L Journal Entry Procedures
G/L Journal Entry Procedures
G/L Journal Entry Procedures
 After the J/E is processed the person entering the J/E
must record the J/E number given by Colleague onto
the J/E form. (Required)
 The original J/E is forwarded to Finance & G/L
Systems via Interoffice Mail. (Required)
 Originating department should keep a copy.
 G/L files the J/E in one central location of the Finance
& G/L department for research & auditing purposes.
G/L Journal Entry Procedures
 G/L audits compliance with procedures (e.g., J/E
approval, description, etc.) and investigates breaks in
sequence (missing J/E’s). Results are reported to the
Director of MIS Training & G/L Systems and recurring
issues are escalated upward when necessary.
 J/E’s are posted to the General Ledger in two hour
intervals. (No change to current practice.)