g/l journal entry procedures by: finance & g/l systems department

G/L Journal Entry Procedures

By:

Finance & G/L Systems Department


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.


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.


Copy of the J/E template will be available on the G/L website

Journal Entry TemplateDEPARTMENT NAME J OURNAL No.

ACCOUNT

PROJ ECT

I D DEBI T CREDI T

DATE NUMBER ACCOUNT DESCRI PTI ON AMOUNT AMOUNT

Total - -

PREPARED BY: DATE:

APPROVED BY: DATE:

ENTERED BY: DATE:

Description of Entry (REQUIRED):


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)


FINANCE & G/L SYSTEMSEXECUTIVE DIRECTOR

MARK CLIFTON

CPCC FOUNDATION FINANCEDIRECTOR

VALERIE FOX

MIS TRAINING & G/L SYSTEMSDIRECTORIAN BRICE

SERVICES CORP ACCOUNTINGFINANCIAL ANALYST

KATHY WHITE

CPCC FOUNDATION FINANCEACCOUNTING SPECIALIST II

ANDY STOLLMACK

G/L REPORTSACCOUNTING SPECIALIST II

PAT BLAKLEYKATRINA GORDON

G/L SYSTEMSSYSTEMS ACCOUNTANT

NORMA HENRY


BUDGETS & PAYROLLEXECUTIVE DIRECTOR

ELENA RANDOLPH

PAYROLLDIRECTOR

SUZANNE MULLIGAN

BUDGETSSUPERVISORANNE COOK

CONSTRUCTIONSYSTEMS ACCOUNTANT SR

KEITH BEAM

FINANCIAL SERVICESEXEC SECRETARY

CINDY SEVERT

BUDGETSACCOUNTING SPECIALIST II

LINDSEY OUTEN

PAYROLLPAYROLL SUPERVISOR

ANNETTE HAMILTON

PAYROLLPOSITION BUDGET ANALYST

NANCY KING

PayrollPayroll TechMelissa Long

Melissa Stewart

PayrollPayroll Specialist

Debra GaddyTeresa Summerour

PAYROLLACCOUNTING SPECIALIST

RHONDA ROGERS

BUDGETSACCOUNT SPECIALIST

Cathy Mclendon

BudgetsSystems Accountant


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.


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.


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 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.)

g/l journal entry procedures by: finance & g/l systems department

Documents