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 Index/Account Posting Errors

The correction of posting errors is a frequent reason departments need to create a JV. When an expense was posted to an incorrect index or account, a JV is used to correct the situation. The department is responsible, during their monthly reconciliation, for finding and correcting all such errors.

When a PCard charge is allocated to an incorrect index or account, a JV is used to correct the posting, even if workflow was used to notify purchasing of the correct index and account code. Workflow does not move any expenses in Banner.