Journal Entry: Introduction

A Journal Entry is an adjustment between to indexes and/or account codes. Journal entries can be for either revenue or expenditures. Departments use Rule Class Code “JE2” for items to be posted related to actual year to date results. The chart below can assist UNM employees with creating corrective journal entries.

Journal entries can be created and submitted in LoboWeb Self Service and Internet Native Banner.

Account Type	Ledger	Account Code Starts With	Normal Balance	Increase	Decrease
Assets	General	A	Debit	Debit	Credit
Liabilities	General	L	Credit	Credit	Debit
Net Assets	General	N	Credit	Credit	Debit
Revenues	Operating	0, 1	Credit	Credit	Debit
Salary Expenses	Operating	2	Debit	Debit	Credit
Other Expenses	Operating	3 – 9	Debit	Debit	Credit

Departments can do journal entries to modify or adjust their budget using the Rule Class Code “BD4”. Budget entries are reflected on the operating ledger. The chart below can assist UNM employees with creating budget entries.

Account Type	Ledger	Account Code starts with	Normal Balance	Increase	Decrease
Revenues	Operating	0, 1	Credit	+	-
Salary Expenses	Operating	2	Debit	+	-
Other Expenses	Operating	3 – 9	Debit	+	-