1. 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:

2. 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:

3. 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:

4. 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:

5. 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:

6. 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:

7. 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:

8. 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:

9. 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:

10. 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:

11. 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:

12. 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:

13. 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:

14. Resources http://www.alaska.edu/controller/accounting-manual/
UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual:

15. 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:

16. UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual:

17. UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual:

18. Flow Chart for Journal Vouchers
UA is an AA/EO employer and educational institution and prohibits illegal discrimination against any individual: