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.

Note: Correcting prior year transactions that involve unrestricted indexes only must adhere to certain guidelines. See Part III, "Correcting Prior Year Transactions," for these rules.