 Business Center Responsibilities  Part I: JV Entry › Important elements › Helpful hints and tips › Rule codes  Part II: JV Approval › Reviewing JVs › Approving JVs › Resources 2 Rev. 09/2011

Business Centers are responsible for: › Verifying that JVs comply with OSU and OUS Policy › Checking Internal Sales and Services transactions against the Internal Fee Book › Evaluating use of correct account codes for purpose of activity or transaction › Disapproving transactions related to previous fiscal year activities › Being aware that JV transactions will post upon approval by the BC. 3 Rev. 09/2011

 TEXT is required on all JVs  TEXT must include: › Input person’s first and last name, phone number, and/or a contact person › Sufficient information as to the purpose of the JV transaction › Some JVs require more specific detailed text › Fee ID #, if applicable  Use FOATEXT to add or change text  The DESCRIPTION field explains what the transaction is for so that the Account Code can easily be checked › The Description line is captured in Data Warehouse, Text is not 4 Rev. 09/2011

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 A Document Number must be entered in the Document Reference field when: › Correcting or redistributing a posted transaction 6 Rev. 09/2011

 If using General Ledger account codes (Axxxx, Bxxxx), input Fund and Account Code only – No Index, No Org, No Program 7 Rev. 09/2011

 Enter Budget Period only on Budget JVs (rule code begins with “1”) 8 Rev. 09/2011

 Supporting Documentation  Includes: communications, spreadsheets, billing invoices, advance settlements, etc.  Does Not Include: printouts of JV (FWRJVLR), information that can already be found in Banner  Scan any supporting documentation into Nolij indexed as JV_Supp doc type › If multiple documents are being added to a JV, they can be renamed (Ex: JV_Supp Index ABC123 ) 9 Rev. 09/2011

 JVs should be done in the month the activity happens  Internal fees should be processed monthly, but no less than quarterly  Do Not correct or bill prior fiscal year income or expense transactions  Payroll corrections should not be processed on JVs 10 Rev. 09/2011

 Internal Sales and Services: › JV should be completed by the department or unit receiving the revenue › Use 09xxx Credit account codes for:  05xxxx-Designated Operations Funds  09xxxx-Service Center Funds  1xxxxx-Auxiliary Funds › Use 79xxx Credit account codes for:  0xxxxx-General Funds  03xxxx-Statewides (Extension, Experiment Stations)  Sales between 1xxxxx-Auxiliary Funds 11 Rev. 09/2011

 Rule Code:  Begins with 1 = Budget  Begins with 2 = Encumbrance  Begins with 3 = Revenue, Expense, Asset, Liability  Rule Codes 3xxx use Debit or Credit in sign field  Rule Codes 2xxx and 1xxx use “+” or “–” in sign field  Don’t mix rule codes in the same JV 12 Rev. 09/2011

 BC Rule Codes:  3BC1 - HSBC  3BC2 – UABC  3BC3 – ASBC  3BC4 – BEBC  3BC5 – FOBC  3BC6 – AMBC  3BC7 – AABC  Budget Rule Codes:  1xxx See Office of Budget and Fiscal Planning:  BC Encumbrance Rule Codes:  2ENB – create encumbrance  2LIB – total liquidation  2LQB – partial liquidation  Central Rule Codes:  3JV1  3GNT 13 Rev. 09/2011

 Transaction primarily impacts Orgs within own BC › Correct indexes/activity codes (Doc Ref) › Redistribute charges (Doc Ref) › Correct account codes (Doc Ref)  2xxxx-3xxxx account codes only  Activities/services originate from own BC › Charge for Internal Sales/Services (debit to 2xxxx)  Use 79xxx or 09xxx account codes for credit - dependent on fund  Confirm an approved fee is in Internal Fee Book  Processing original charges to a restricted fund 14 Rev. 09/2011

 An error will appear if General Ledger (GL), Transfer, Capital Asset, or External Revenue account codes are used on a 3BCx rule code. If this error appears, you must change the rule code to 3JV1 or 3GNT – on all sequences. 15 Rev. 09/2011

 Using General Ledger Account Codes  Axxxx, Bxxxx, Exxxx, Fxxxx  Using 9xxxx Transfer Account Codes  Using 4xxxx Capital Asset Account Codes  Redistributing External Revenue Account Codes  01xxx-08xxx account codes  F-doc reference required 16 Rev. 09/2011

 Making any correction for a restricted fund › Grant/Contract Funds  index and fund begin with a letter › Gift Funds  FSxxxx, FAxxxx and Mxxxxx funds 17 Rev. 09/2011

 See handout for instructions on how to copy or reverse a JV  Useful for: › Frequently occurring › Reversing Year End Accrual  Make sure to change dates, Doc Refs, etc. on new JV 18 Rev. 09/2011

 Similar to our regular JV form, FGAJVCD – but gives a different view  Useful when the description or doc ref is the same for each line  Able to see 12 rows at a time, instead of one 19 Rev. 09/2011

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 Date?  Check Transaction Date  Text?  Name (First and Last) and phone number?  Good explanation of transaction?  Will a person outside the BC in a year from now understand the transaction by reading the text?  Internal fee charges?  Is there an approved fee in the Internal Fee Book?  Is there a Fee ID # listed?  Description?  Does the information assist in determining the correct account code? 26 Rev. 09/2011

 Document Reference?  Is this a correction? – Doc Ref required  Is this a redistribution? – Doc Ref required  Look up Doc # in Banner  If no Doc Refs, there must be an explanation in text  Has the referenced Doc posted in Banner?  Check Doc Trans Date – is it in the current FY?  JV Supporting Documentation  Is the correct rule code used?  If it involves corrections to a grant, use 3GNT  Is transaction appropriate for funding source?  Is transaction appropriate for program code? 27 Rev. 09/2011

 Are account codes correct?  Are debits and credits correct?  Check all sequences!  These fields should be blank:  Deposit Number field  Budget Period field – only on1xxx Budget JVs 28 Rev. 09/2011

 If more Text is needed: › Contact originating user › Add text through FOATEXT without disapproving › Put JV on “HOLD” – add text through FOATEXT  Name and Date  Reason for Hold  Use Text Seq numbers so HOLD appears at top of text after saving  Line Sequence numbers can only be changed through Banner FOATEXT, not able to renumber in Self Service 29 Rev. 09/2011

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 Disapprove if review criteria is not met (slides 23-25) › Examples:  Incorrect account code  In disapproval message, request “Seq#” change account code to xxxxx  Incorrect Rule Code  No Doc Ref (corrections or redistributions)  Never approve a JV you have entered  Never approve a JV if in doubt or questionable – always seek another opinion (Please call FA&A in Business Affairs) 31 Rev. 09/2011

 Approving Encumbrance JVs  2LIB and 2LQB Liquidating JVs use “+” in the sign field and must have:  Encumbrance Doc # listed in Doc Ref field  Encumbrance Doc # listed in Encumbrance Number field  6xxx Rule Codes  Used for FUPLOAD JV processes  Will only route to BC approval queue when there are errors  JV will be incomplete and will need to be corrected and completed through FGAJVCD  Usually don’t have text 32 Rev. 09/2011

 OSU FIS Policies: › Fiscal Policy Manual:  › Journal Vouchers:  › Recharge Activities:   OSU Internal/External Fee Book:   OUS Policies: › Account Code Definitions:  › Fiscal Policy Manual:   FA&A Website:  33 Rev. 09/2011

› FGAJVCD  To Enter a JV › FGAJVCM  To Enter a JV › FGIJVCD  To view incomplete JVs › FOAUAPP  To approve/disapprove JVs › FOIAPPH/FOIAPHT  To view approval history › FOAAINP  To view who still needs to approve JV › FGIBDST  To query transaction detail for an index › FGITBSR/FWITBSR  To query transaction detail or balance for a Fund › FGIDOCR  To view posted documents › FOIDOCH  To query on documents › FOATEXT  To add/change/view text › FUVPROF  To query on usernames 34 Rev. 09/2011

General Questions Financial Accounting and Analysis Charlotte Rooks Treasure Hunt Kim Jenkins Diane McGill Stephanie Smith Mark Fryman Fixed Assets Janna Storm Central Accounts Payable Paul Marinello Autopays Bezu Abebe Pcards Rose Hamilton Grants, Gift, and Foundation Funds OPAA Rev. 09/2011

36 Rev. 09/2011 Slides and Handouts are located on our FA&A website: