Tips:

Which Actuals Journal Should I Use?

NUFinancials offers four actuals journals on the NUPortal that enable general users to manage chart strings and interact with revenue, expense, and transfer accounts. Use the decision matrix below to choose the right journal for your circumstances. Print this document in landscape orientation on legal sized paper.

 

Correction Journal (COR)

Internal Sales Journal (ISJ)

Transfer Journal (TFR)

Agency Journal (AGY)

Used For
  • Correcting expense and revenue transactions that were incorrectly categorized when posted to the General Ledger
  • Redistributing expense or revenue between several chart strings
  • Ensuring the most appropriate ChartFields and account codes are applied to transactions
  • Recording the sale of goods or services by one department or unit to another inside the University
  • Correcting a prior internal sales journal
  • Moving amounts (actuals) from a gift or endowment to an unrestricted fund 110 or 171
  • Moving amounts (actuals) within or between major units of the University
  • Satisfying grant cost share agreements by moving amounts from Fund 110 to funds 191, 192, or 193
  • Correcting a prior transfer journal
  • Recording transactions with organizations that have an agency chart string
    • Agency chart strings have a Fund number in the 700 series
    • Examples of agencies are: academic journals, the Alumni Association, sororities, fraternities, and student organizations
  • In correction mode, correcting expense and revenue transactions - with an agency chart string - that were incorrectly categorized when posted to the General Ledger
  • Correcting a prior agency journal

Not Used For

  • Correcting any transaction in workflow, encumbrances, or pre-encumbrances
  • Correcting any other actuals journal (ISJ, TFR, or AGY)
  • Correcting payroll (use FASIS)
  • Balance sheet adjustments
  • Agency chart strings with Funds in the 700 series
  • Sales to students, the public, or to any financial entity outside the chart of accounts (COA)
  • External revenue account codes in the 40000 series
  • Agency chart strings with Funds in the 700 series
  • Transferring financial resources to or from grant or agency funds (600-799)
    • Agency chart strings with Funds in the 700 series
  • Revising budgets
  • Correcting posted transactions
  • Correcting payroll (Use FASIS)
  • Internal sales between entities inside the University
  • Internal revenue account codes in the 50000 series
  • Recording bank deposits for agencies

Who

  • The chart string owner or designate should create the journal
  • An administrator who needs to recategorize an expense or revenue transaction
  • The seller should create the journal
  • The giver should create the journal (the department that owns the chart string being charged for the expense)
  • NU staff who are interacting or doing business with the organization should create the journal

When

  • A correction journal created 90 days or more beyond the original journal date requires a justification form
  • Journal must be approved and posted in the same period as created
  • A sales journal created 90 days or more beyond the original sale date requires a justification form
  • Journal must be approved and posted in the same period as created
  • Journal must be approved and posted in the same period as created
  • A journal created 90 days or more beyond the original transaction date requires a justification form
  • Journal must be approved and posted in the same period as created