JVs at Oregon State University How are JVs used at OSU?

JVs at Oregon State University This presentation provides information about: Basic JV Guidelines The Purposes of a JV JV Types, and Finding JV Information in Banner

Basic JV Guidelines Debits must always equal Credits Create Debit records first and Credit records last The Document (aggregate) Total serves as a checksum Rule Codes tell the system the purpose and type of the JV: Transactions that do not involve restricted funds use rule code 3JV1 Transactions involving restricted funds like grants, contracts, gifts, and foundation use rule code 3GNT

Basic JV Guidelines (continued) FOAPAL use is determined by the ledger level: GL transactions – use Fund and Account only OL transactions – always use Index and Account Text is required to identify JV purpose and input person’s name and phone number The Description Line (not the text) displays in the Data Warehouse A Document Reference # is required for corrections and/or redistributions

The Purposes of a JV There are four main purposes for a JV: Process Internal Transactions Correct previously processed transactions Redistribution of charges Apply Revenue and Internal OSU Charges

The Purposes of a JV (continued) Process Internal Transactions Accruals and reversals Inventory Adjustments Correct previously processed transactions Index, Account Code, Activity code corrections Banner source document corrections for processed: Invoices Cash Receipts Automated JV’s

The Purposes of a JV (continued) Redistribution of charges VISA Procurement card charges to expense Expenses paid by one index for multiple indexes Apply Revenue and Internal OSU Charges Billings from Service Centers, Auxiliaries, and Designated Operations to Departments Charging other departments for services provided (i.e. copy charges)

JV Types JV types identify the kinds of accounts affected and the institutional scope of the transaction. There are three primary types of JVs created by user data entry: OSU only departmental JV Institutional / Departmental Budget JV Inter-Institutional JV

JV Types (continued) OSU only JV Budget JV Inter-Institutional JV Department generated Approval by Departmental authority Final approval from Business Affairs Budget JV Used to transfer budget items Initiated by OSU College, Budget Office, or OPAA Inter-Institutional JV Submitted by Dept on paper form Processed via Accounts Payable

Finding JV Information in Banner Some of the forms that assist in the JV process: FGIJVCD Checking JV Completion Status FGIDOCR Viewing an Approved JV FOIAPPH Viewing JV Approval History/Status FOATEXT Text Viewing/Editing FWRJVLR Print a JV

Journal Vouchers at Oregon State University END Journal Vouchers at Oregon State University