General Accounting
Policy
FIACCT 02-05_12 General accounting- Journal vouchers-setting up recuring JVs
Effective: March 16, 1998
Revised: September 1, 2006
Reviewed: February 1, 2010
Purpose
This policy provides instructions for setting up recurring Journal Vouchers.
Background
FINET generates Journal Vouchers on a future date or on a monthly, bi-monthly, or quarterly basis for all JVs that are set up on the Recurring Journal Voucher (REJV) Table.
The REJV Table Entry Screen is similar to the Journal Voucher (Transaction) Entry Screen, with both a header and line section. In the system, however, each REJV Table entry contains both the header and line information on each line. Once header information is entered on the table, it may not be modified, although line information in the table may be modified. Both header and line information may be modified after the Journal Voucher is on Document Listing if it has not yet been processed by a nightly run. For instructions on modifying entries on the Document Listing, see the Transaction Processing – Modifying Accepted Transactions policy in the FINET section of this manual.
When a Journal Voucher line is entered on the REJV Table, the amount fields may be left blank. If both the Debit and Credit amount for a line are left blank, the system enters the words ***FILL-IN**** when the transaction is placed on the Document Listing. When these recurring Journal Vouchers are posted to the Document Listing each month, the user must go in and enter the correct amounts before the Journal Voucher is processed. Once the end date entered on the REJV Table passes, the system deletes the recurring Journal Voucher Table entry and does not generate any future transactions.
Procedures
Responsibility
Department
Action
Determine that a recurring JV needs to be established to automatically generate a JV on a regular basis.
Complete the Journal Voucher form, including the Recurring JV data fields.
Division of Finance
Review and approve the Journal Voucher form. Enter the appropriate information in the REJV Table. On a daily basis, run the FINET program which generates recurring Journal Vouchers from the REJV Table entries and posts the transactions to the Document Listing as scheduled for processing.
The program creates a recurring Journal Voucher transaction for each REJV Table entry for which the select date is between the Entry start date and Entry end date on the table entry. Then, it will delete table entries for which the Entry end date is less than or equal to the select date.
Run this program after the nightly transaction processing programs have already been run that night in order to allow departments the opportunity to view automatically generated transactions the following day before processing and posting the Journal Voucher
transactions.
Department
Review Journal Vouchers on the Document Listing prior to nightly
processing.
If the amount fields are left blank on the REJV Table, enter the correct amounts on the Journal Voucher transaction. Make other corrections as needed.
Schedule corrected transactions for processing.
Division of Finance
Run nightly processing cycle to post the transactions.
Department
Review reports and on-line queries to determine if the Journal Voucher posted correctly. If necessary, correct or delete the table entry on the REJV Table by submitting a Journal Voucher form to the Division of Finance.