Patty Duvlea, OFA Teri Langton, OGCA UAF Journal Voucher Training May 2008 Patty Duvlea, OFA Teri Langton, OGCA UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

Journal Entry - Remember accounting class The basic accounting unit When all else fails Should be used only for adjusting, accrual, and closing entries A negative measure of the quality and internal control of the accounting system indicative of problems which require additional action A necessary evil and savior UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

UA Procedure - JV Initial Record Departmental purchases from UA Departments Auxiliary Recharge centers Electronic feed by units Large volume Recurring transactions UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

UA Procedure - JV Initial Record Examples of Initial Record JV Telephone Photocopy usage Ship days Mass spec Physical plant and GI work orders Tuition charges Federal Work-study backcharge to depts Revenue credit Expense debit UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

The Rest of the Story Something has already gone wrong Delayed fund setup Late reconciliation of Pro Card use Data entry error Cost over run Disallowed cost Default coding inaccurate May be correction of account code May be same account code with org/fund change UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

The Worst Correcting previous JV _____ did not get corrected in time Carelessness, inadequate training, transpositions, pro-card, travel credit card recon not done _____ did not get corrected in time Late payroll reconciliation Delayed posting of recharge items Charged to incorrect project Wrong fund possibly wrong agency UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

Labor Only between restricted funds (prior year only, use JPAY rule code) Write off to unrestricted fund using over-run account code if labor is an allowable cost If labor is an unallowable cost, must be moved by disallowed account code. Move by sum of labor & benefits and then F&A must be shown also Submit proposed JV for review and approval with explanation UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

Justification and supporting documentation (restricted funds only) The older the transfer the clearer the justification must be better and more complete the documentation must be Signature of Principle Investigator On source documents JV or both (see exceptions) Contemporary documents in support of transfer UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

Restricted Funds (from 2CFR220-OMB Circular A21) Are the charges: Allowable on proposed project? Applicable to the project? Reasonable charge to the project? Appropriate to restricted fund? Further: Is it Principle Investigator approved? Is the project still open? Is there adequate supporting documentation? UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

Once an Indirect Cost always an indirect cost Cost function determines whether direct or indirect (grant or unrestricted) UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

Signatures on a journal voucher Preparer (physical preparation of JV) PI required for JV’s with 60 day cost transfer memo Approval (fiscal officer) OGCA (is it allowable to the proposed project-required for JV’s with 60 day cost transfer memo) Financial Services UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

Prior Year No credit to current year (unrestricted) Generally will be delay during first quarter of fiscal year Statewide approval for prior year labor between F1 & F2 UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

JV will be returned to Fiscal Officer No signature Inadequate backup Prepared incorrectly Coordinating department signature Department responsibility to resubmit UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

Resources http://www.alaska.edu/controller/accounting-manual/ http://www.uaf.edu/finsvcs/AcctCodes http://www.uaf.edu/grcon/ http://www.whitehouse.gov/omb/circulars/index.html UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

Step by Step Field instructions for journal voucher preparation On JV form If a copy of the JV is returned please review UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination

Flow Chart for Journal Vouchers http://www.uaf.edu/grcon/training/index.html UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/titleIXcompliance/nondiscrimination