2.7 Definition and purpose of GL E-docs DI GEC TF RJV PE Distribution of Income and General Error Correction Transfer of Funds Journal Voucher Pre-Encumbrance Expense (Restricted) Definition and To distribute or move To fix an incorrect To transfer funds as a A transaction, that does To set aside or earmark purpose income, expenses, assets transaction. contribution, cover an not involves correction, funds for future anticipated and liabilities between overdraft or fulfil a funding distribution, transferring or expenses or commitments. accounts and sub-accounts commitment. setting aside funds, needs Also to disencumber open or to close accounts. to be posted to GL. encumbrances created with the PE. Routing Initiator: Initiate Initiator: Initiate Initiator: Initiate Initiator: Initiate Initiator: Initiate Fiscal Officer: Approve Fiscal Officer: Approve Fiscal Officer: Approve Fiscal Officer: Approve Fiscal Officer: Approve Account Supervisor: Account Supervisor: Account Supervisor: Account Supervisor: Final Approve Approve Approve Approve Campus Reviewer: Campus Reviewer: Campus Reviewer: Campus Reviewer: Approve Approve Approve Approve Final Final Final Final Additional Routing: To Asset Additional Routing: To Manager when Asset type Asset Manager when objects are used. Asset type objects are used. Users All users All users All users All users All users An Account has paid Stationary (inventory store A dean of a faculty transfer You have received income You need to set aside Transaction expenses (for example purchase) was bought research funds from his on the funds for a future payment example “Recovered travel costs) on behalf of 2 against an incorrect account to the income to an artist who is painting school’s Operating Costs” other Accounts. Distribute account. Correct this error account for a research object. You need to a mural. You need to the expense to these by moving the expense to project. journalize this income to encumber the funds to be Accounts. the correct combination. the expense object able to pay the artist when Refer to the incorrect involved. the job is completed. document transaction’s number.
2.7 Definition and purpose of GL E-docs DI Distribution of Income and Expense GEC General Error Correction TF Transfer of Funds RJV Journal Voucher (Restricted) PE Pre-Encumbrance Definition and purpose To distribute or move income, expenses, assets and liabilities between accounts and sub-accounts or to close accounts. To fix an incorrect transaction. To transfer funds as a contribution, cover an overdraft or fulfil a funding commitment. A transaction, that does not involves correction, distribution, transferring or setting aside funds, needs to be posted to GL. To set aside or earmark funds for future anticipated expenses or commitments. Also to disencumber open encumbrances created with the PE. Routing Initiator: Initiate Initiator: Initiate Initiator: Initiate Initiator: Initiate Initiator: Initiate Fiscal Officer: Approve Fiscal Officer: Approve Fiscal Officer: Approve Fiscal Officer: Approve Fiscal Officer: Approve Account Supervisor: Approve Account Supervisor: Approve Account Supervisor: Approve Account Supervisor: Approve Final Campus Reviewer: Approve Campus Reviewer: Approve Campus Reviewer: Approve Campus Reviewer: Approve Final Final Final Final Additional Routing: To Asset Manager when Asset type objects are used. Additional Routing: To Asset Manager when Asset type objects are used. Users All users All users All users All users All users Transaction example An Account has paid expenses (for example travel costs) on behalf of 2 other Accounts. Distribute the expense to these Accounts. Stationary (inventory store purchase) was bought against an incorrect account. Correct this error by moving the expense to the correct combination. Refer to the incorrect transaction’s document number. A dean of a faculty transfer research funds from his account to the school’s account for a research project. You have received income on the “Recovered Operating Costs” income object. You need to journalize this income to the expense object involved. You need to set aside funds for a future payment to an artist who is painting a mural. You need to encumber the funds to be able to pay the artist when the job is completed.
General%20Ledger%20%28GL%29%20-%20General%20manual%20%282014-12-08%29%201.docx