Part III - UNM Finance: Practical Applications

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Standard Accounting Resource Manual (SARM)

MSC 0000 00
1 University of New Mexico
Albuquerque, NM 87131

Correcting Entries

Journal Vouchers

1)     Journal vouchers that are moving purchases must be clear.

2)     Some purchases cannot be moved to certain funds or indices.  Be clear about the nature of the purchase being moved.  For example, food purchases for recruitment of a faculty member may be appropriate on the index from which the food was originally purchased, but unallowable on an Endowed index for Native American Studies.  The Endowed index, however, may allow food purchases for Native American student recruitment events.  State what is being moved and what the original purpose of the expenditure was for review purposes.

3)     The document number or numbers should appear in the description field.

4)     The list of all the documents being moved, and the amount of each document should be in the document text section.

5)     Any partial movements should include both the document total, the amount being moved, and why only a partial amount is being moved.

6)     In the document text, give the name and phone number of the originator of the entry, and the name and phone number of the person requesting the entry. 

7)     Explain why the JV is being submitted and explain (depending on JV type) how this might be prevented in the future.

8)     When expenses have been charged to an incorrect index and/or incorrect account, they are moved to the correct index and account by using a Journal Voucher.  When PCard allocations are not made within the required 10 day timeframe, they are also moved to the correct index and account by using a Journal Voucher.  Payroll expenses are NOT moved using a Journal Voucher.

9)     Banner form FGAJVCQ is one form that can be used to create a Journal Voucher.  The business purpose for correcting entries should explain what is being moved, why it is being moved, and should reference existing document numbers.