GeneralLedgerJournal

DebitvsCredit
Followingareavarietyofexamples ofgeneralledgerjournalentriesthatshowtheresultonthegeneralledgerandtowhomthejournalshouldbesourced.
Thenumberofjournallinesperexamplewillvaryforeveryjournal.TheGeneralLedgerJournalEntryjobaidisfoundat
http://www.uhv.edu/peoplesoft/pdf/Journals/Journal%20GL%20Entry.pdf

UHVPolicyB1,ExpendituresandExpenditureAuthority,outlinesthemethodofobtainingapprovalbytheSeniorAdministrativeOfficialresponsiblefor
certifyingalltransactionswithinbudgetaryallocations.RefertotheListofSourceswithApproversandAlternateApproversfoundat
http://www.uhv.edu/peoplesoft/Excel/Sources%20with%20alternate%20approvers.xlsfortheauthorizedapproveroralternateapproverforadepartment.

UHVPolicyB1alsoensuresaccountabilitywhensponsoredproject/grantsfundsareenteredasthecostcenter.Thegeneralledgerjournalshouldbe
submittedtothePeopleSoftapprovalpathDept/Coll/DovOCGAccountingOfficeFortheapprovalfromtheResearchandSponsoredProgramsoffice
personnel.
UHVPolicyExpenditure/RevenueReallocationorCorrection,PolicyB2,states"Allexpenditure/revenuereallocationsandcorrectionsshouldbeprocessed
within90daysoftheoriginaltransaction".Attheendofthefiscalyear,thetimeframeisshortenedtomeettheendofyearprocessing.
ContacttheAccountingServicesCoordinatorortheGeneralAccountingManagerifyouhavequestions.

Departmentjournalexamples:
Example
CorrectinganExpenseEntrydifferentcostcenter:
#1

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Acct#5XXXX(incorrectcostcenter)

(Credit)

Decrease

onUGLS1074.3b

Acct#5XXXX(correctcostcenter)

+(Debit)

Increase

+onUGLS1074.3b

AuthorizedApprover/
AlternateApproverfor
department

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Sourceto:

Acct#5XXXX(incorrectaccount)

(Credit)

Decrease

onUGLS1074.3b

Acct#5XXXX(correctaccount)

+(Debit)

Increase

+onUGLS1074.3b

Example
CorrectinganExpenseEntrysamecostcenterdifferentaccount:
#2

*Iftheoriginaldocumentpostedwasapprovedbytheappropriatecostcenterauthority,thensourcetoAAP

RevisedNovember2014

Page1

Sourceto:

AuthorizedApprover/
AlternateApproverfor
department*

Example
CorrectingaRevenueEntrydifferentcostcenter:
#3

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Sourceto:

Acct#4XXXX(incorrectcostcenter)

+(Debit)

Decrease

+onUGLS1074.3b

AuthorizedApprover/
AlternateApproverfor
department

Acct#4XXXX(correctcostcenter)

(Credit)

Increase

onUGLS1074.3b

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Sourceto:

Acct#4XXXX(incorrectaccount)

+(Debit)

Decrease

+onUGLS1074.3b

AuthorizedApprover/
AlternateApproverfor
department

Acct#4XXXX(correctaccount)

(Credit)

Increase

onUGLS1074.3b

GeneralLedger
Resultwillbe

Reflectedas+/on:

Sourceto:
AuthorizedApprover/
AlternateApproverfor
department

Example
CorrectingaRevenueEntrysamecostcenterdifferentaccount:
#4

Example IfyouarepayingforTshirt,UHVPromotionalitemorUHVlibrary
bookdonationorbrickinhonorofanindividualfromUHV
SignofAmt
#5
department
Acct#5XXXX(purchasingdept)

+(Debit)

Increase

+onUGLS1074.3b

Acct#4XXXX(sellingdept)

(Credit)

Increase

onUGLS1074.3b

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Sourceto:

Acct#5XXXXuseappropriateexpenseaccount

+(Debit)

Increase

+onUGLS1074.3b

AuthorizedApprover/
AlternateApproverfor
department**

Acct#20109(ProCarddefault)or20110(TravelCarddefault)

(Credit)

Increase

onUGLS1074.3a

Example
ReallocatingdefaulttransactionsforProCardandTravelCard
#6

**IfthecostcenterandaccountwasapprovedbytheappropriatecostcenterauthorityontheExpenseReport,thensourcetoAAP(asanoption)

RevisedNovember2014

Page2

Example
Fundequitytransferwithassociatedbudgetjournal
#7

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Acct#33XXXsamecostcenterasonbudgetjournal

(Credit)

Increase

onUGLS1074.3a

Acct#37XXXsamecostcenterasonbudgetjournal

+(Debit)

Decrease

+onUGLS1074.3a

Sourceto:

AuthorizedApprover/
AlternateApproverfor
department***

***IfthebudgetjournalhasbeenapprovedbytheappropriatecostcenterauthorityorBudgetCommitteemember,thensourcetoAAP(asanoption)
RefertojobaidtitledTransferBudgetAcrossCostCenters,foundathttp://www.uhv.edu/peoplesoft/pdf/Journals/Journal%20Budget%20Transfer%20Funds%20Across%20CCs.pdf,fordetailed
informationandappropriateaccountnumbers
RefertoExample#20fortheoriginalfundingbytheBudgetOffice
RefertoExample#21fortheoriginalfundingbyStateAccounting

Example ACHenteredbydepartmentsreceiptedasrevenue,agrant
accountsreceivableordepositreceivedforloans
#8

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Acct#4XXXXreceiptingasincome/revenue,ifapplicable

(Credit)

Increase

onUGLS1074.3b

Acct#12116receiptingasgrantaccountsreceivable,ifapplicable

(Credit)

Decrease

onUGLS1074.3a

Acct#23130receiptingasincreaseinliabilityforBeOnTime,Elm
orNonElmcostcenters,ifapplicable

(Credit)

Increase

onUGLS1074.3a

Acct#10800,FundBANK,BudgetReference

+(Debit)

Increase

+onaquery

Sourceto:

AuthorizedApprover/
AlternateApproverfor
department

RefertoGeneralOfficeProcedures,ACHReceiptsandWithdrawals,section5.16,forspecificinformationrequiredonGLjournal;TheGeneralOfficeProceduresloginisfoundat
http://www.uhv.edu/peoplesoft/.

Example ReallocatingatransactionfromSuspensetotheappropriatecost
center/account
#9

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Acct#4XXXXreceiptingasincome/revenue,ifapplicable

(Credit)

Increase

onUGLS1074.3b

Acct#12116receiptingasgrantaccountsreceivable,ifapplicable

(Credit)

Decrease

onUGLS1074.3a

Acct#23130receiptingasincreaseinliabilityforBeOnTime,Elm
orNonElmcostcenters,ifapplicable

(Credit)

Increase

onUGLS1074.3a

Acct#16100,costcenter9007V00125F0615NA

+(Debit)

Increase

+onUGLS1074.3a

RevisedNovember2014

Page3

Sourceto:

AuthorizedApprover/
AlternateApproverfor
department

Centrallycreatedjournalexamples:
Example Matchinggifttransfer(withinlocalfundsonly)enteredby
#10 UniversityAdvancement

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Acct#33518addingtocostcenter(iffromafund4costcenter)

(Credit)

Increase

onUGLS1074.3a

Acct#374xxfromcostcenteridenfiedformatchingpurposes
(dependentonwhatfundismatched[credited])

+(Debit)

Decrease

+onUGLS1074.3a

AuthorizedApprover/
AlternateApproverfor
department

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Sourceto:

Acct#5XXXXusuallyagrantcostcenter

+(Debit)

Increase

+onUGLS1074.3b

AuthorizedApprover/
AlternateApproverfor
department

Acct#4XXXXusuallyanadministrativecostcenter

(Credit)

Increase

onUGLS1074.3b

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Sourceto:

Acct#5XXXXservicedepartmentcostcenter

(Credit)

Decrease

onUGLS1074.3b

AuthorizedApprover/
AlternateApproverfor
department

Acct#5XXXXdepartmentsshouldnotifytheservicingdepartment
ofanychangestocostcentertobecharged

+(Debit)

Increase

+onUGLS1074.3b

Sourceto:

Budgetjournalisrequiredsincetransferringfundequity

Example
AdministrativeAllowancesorIndirectCostsforgrants
#11

Example Reallocationchargesfortelephonelongdistanceandequipment,
postageorfreightenteredbydepartmentsoruploadedinto
#12 PeopleSoftfollowsUHVPolicyB2

Examplesofcharges:TechnologyServicesreallocatingmonthlylongdistanceservicesandannualphoneequipmentcharges,BusinessServicesreallocatingpostageandfreight,etc.

Example
#13

ProCardandTravelCardtransactionsuploadedintoPeopleSoft

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Acct#5XXXXmultipletransactionlines(ProCardandTravelcard
transactionsdownloadedfromCitibank)

+(Debit)

Increase

+onUGLS1074.3b

Acct#20109forProCarddefaulttransaction

+(Debit)

Decrease

+onUGLS1074.3a

Acct#20110forTravelCarddefaulttransaction

+(Debit)

Decrease

+onUGLS1074.3a

Acct#15100,withappropriatecostcenterProCardorTravelCard

(Credit)

Decrease

onUGLS1074.3a

RevisedNovember2014

Page4

Sourceto:

AuthorizedApprover/
AlternateApproverfor
department

FinanceandBudgetjournalexamples:
Example DepositsenteredbyFinancecashierordesignee,includesVPOS
#14 andUHVConnectmonthytransactions

Multiple
Lines

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Acct#4XXXXreceiptingasincome/revenue,ifapplicable

(Credit)

Increase

onUGLS1074.3b

Acct#5XXXXreceiptedasreimbursementandshouldbe
supportedbyvouchernumberorthemonthpaidwithProCardor
TravelCard,ifapplicable

(Credit)

Decrease

onUGLS1074.3b

Acct#12116receiptingasgrantreceivalbe,ifapplicable

(Credit)

Decrease

onUGLS1074.3a

Acct#23130receiptsforBeOnTime,ElmorNonElmcost
centers,ifapplicable

(Credit)

Increase

onUGLS1074.3a

Acct#16100receipttransactionswherethecostcenteror
accountprovidedwasincorrect,ifapplicable

(Credit)

Decrease

onUGLS1074.3a

Acct#20604,2080V0012F0232NAsalestax,ifapplicable

(Credit)

Increase

onUGLS1074.3a

Acct#10800,FundBANK,BudgetReference

+(Debit)

Increase

+onaquery

FIN

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Sourceto:

Acct#4XXXXsameaccountandcostcenterasreceipted,if
applicable

+(Debit)

Decrease

+onUGLS1074.3b

AuthorizedApprover/
AlternateApproverfor
department

Acct#20604,2080V0012F0232NAsalestaxcostcenter,if
applicable

+(Debit)

Decrease

+onUGLS1074.3a

Acct#10800,FundBANK,BudgetReference

(Credit)

Decrease

onaquery

Example NonSufficientFunds(NSF)checkenteredbydepartmentsor
#15 Financeusesamecostcenterandaccountasonreceipt

RevisedNovember2014

Page5

Sourceto:

Example WiretransfersINTOoperatingbankaccount;enteredbyFinance
#16 cashier

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Acct#4XXXX(receiptingasincome/revenue)ifapplicable

(Credit)

Increase

onUGLS1074.3b

Acct#12116onagrantcostcenterforfundsreceived,ifapplicable

(Credit)

Decrease

onUGLS1074.3a

Acct#41601PellAdminCostAllow;splitinhalfbetweentwo2072
costcenters,ifapplicable

(Credit)

Increase

onUGLS1074.3b

Acct#11107,2077V0010F0380(Mellonaccount),ifapplicable

(Credit)

Decrease

onUGLS1074.3a

Acct#23130fordirectloans,ifapplicable

(Credit)

Increase

onUGLS1074.3a

Acct#10800,FundBANK,Budgetreference(operatingbank
account)

+(Debit)

Increase

+onaquery

FIN

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Sourceto:

Acct#5XXXX(expense),ifapplicable

+(Debit)

Increase

+onUGLS1074.3b

Acct#20505,2064V0012F0413NA(payroll),ifapplicable

+(Debit)

Decrease

+onUGLS1074.3a

Acct#11107,2077V0010F0380(Mellonaccount),ifapplicable

+(Debit)

Increase

+onUGLS1074.3a

Acct#23111forHigherOneRefunds,ifapplicable

+(Debit)

Decrease

+onUGLS1074.3a

Acct#54711JPMChaseinvestmgmtfee,ifapplicable

+(Debit)

Increase

+onUGLS1074.3b

Acct#10800,FundBANK,Budgetreference(operatingbank
account)

(Credit)

Decrease

onaquery

FIN

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Sourceto:

Acct#12403receiptingasaccountsreceivable

+(Debit)

Increase

+onUGLS1074.3a

FIN

Acct#31103endowmentstudentassistance,ifapplicable

(Credit)

Increase

onUGLS1074.3a

Acct#31106endowmentrestricted,ifapplicable

(Credit)

Increase

onUGLS1074.3a

Sourceto:

BondproceedsarerecordedbyUHGeneralAccounting

Example WiretransfersOUTofoperatingbankaccount;enteredby
#17 Financecashier

Example
EndowmentdepositsenteredbyFinancecashier
#18

RevisedNovember2014

Page6

Example Wiretransferfromlocalfundstoendowment;principleand
#19 matchingfunds

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Sourceto:

(Credit)

Decrease

onaquery

FIN

+(Debit)

Decrease

+onUGLS1074.3b

+(Debit)

Decrease

+onUGLS1074.3a

Acct#37436,matchingfundsfromfund4costcenter,ifapplicable

+(Debit)

Decrease

+onUGLS1074.3a

Acct#12403,accountsreceivableinfund6costcenter,ifapplicable

+(Debit)

Increase

+onUGLS1074.3a

(Credit)

Increase

onUGLS1074.3a

(Credit)

Increase

onUGLS1074.3a

(Credit)

Increase

onUGLS1074.3a

Example Fundinglocalcostcentersatthebeginningoftheyearjournals
#20 areuploadedtoPeopleSoft

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Acct#33XXX(samecostcenterasonbudgetjournal)

(Credit)

Increase

onUGLS1074.3a

Acct#37XXX(samecostcenterasonbudgetjournal)

+(Debit)

Decrease

+onUGLS1074.3a

BUD

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Sourceto:

Acct#33XXX(samecostcenterasonbudgetjournal)

(Credit)

Increase

onUGLS1074.3a

Acct#37XXX(samecostcenterasonbudgetjournal)

+(Debit)

Decrease

+onUGLS1074.3a

Acct#10800,FundBANK,Budgetreference(operatingbank
account)
Recording Acct#429XX,currentyeargiftinfund4costcenter,ifapplicable
fund4cost
center
Acct#37422,prioryeargiftinfund4costcenter,ifapplicable

Recording Acct#311XX,currentyeargiftinfund6costcenter,ifapplicable
fund6cost
center
Acct#33518,prioryeargiftinfund6costcenter,ifapplicable
Acct#33536,matchingfundsinfund6costcenter,ifapplicable

Sourceto:

SourcetoBUDasanoption;itautomaticallyposts

Example
#21

Fundingstatecostcentersattheendoftheyearjournalis
uploadedtoPeopleSoft

RevisedNovember2014

Page7

FIN

Example AdministrativeAllowancesprocessedbytheBudgetOfficeatthe
#22 beginningofthefiscalyear

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Sourceto:

Acct#54805(appropriatecostcenter)

+(Debit)

Increase

+onUGLS1074.3b

AAF

Acct#16101,2064V0012E0260NA(miscclearing)

(Credit)

Decrease

onUGLS1074.3a

Acct#16101,2064V0012E0260NA(miscclearing)

+(Debit)

Increase

+onUGLS1074.3a

Acct#42600(appropriatecostcenter)

(Credit)

Increase

onUGLS1074.3b

SignofAmt

GeneralLedger
Resultwillbe

Reflectedas+/on:

Sourceto:
FIN

Example AdjustingentriestorecordtransactionsfortheAnnualFinancial
ReportingListofentriescanbefoundontheEOYChecklistonQ
#23 Drive
Acctanyaccountrequiredfortransaction

(Credit)

onUGLS1074

Acctanyaccountrequiredfortransaction

+(Debit)

+onUGLS1074

Example Currently,thismethodisnotused:Deposits/creditcardpayments
SignofAmt
#24 enteredbydepartments

GeneralLedger
Resultwillbe

Reflectedas+/on:

Sourceto:
AuthorizedApprover/
AlternateApproverfor
department

Acct#4XXXX(receiptingasincome/revenue)

(Credit)

Increase

onUGLS1074.3b

Acct#20604,2080V0012_F0232NA(salestax)ifapplicable

(Credit)

Increase

onUGLS1074.3a

Acct#10800,FundBANK,BudgetReference

+(Debit)

Increase

+onaquery

RevisedNovember2014

Page8