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 TypeLedgerAccount Code Starts WithNormal BalanceIncreaseDecrease
Net AssetsGeneralNCreditCreditDebit
0, 1CreditCreditDebit
Salary ExpensesOperating2DebitDebitCredit
Other ExpensesOperating3 – 9DebitDebitCredit

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 TypeLedgerAccount Code starts withNormal BalanceIncreaseDecrease
RevenuesOperating0, 1Credit+-
Salary ExpensesOperating2Debit+-
Other ExpensesOperating3 – 9Debit+-