Prior Year Transactions

At times, departments may need to correct an entry from the prior fiscal year. There are specific rules for the JVs submitted to accomplish this. The scenarios below demonstrate these rules. For assistance with this type of entry, contract your core accounting office.

Prior Fiscal Year Scenarios - FY24 JV Correcting FY23 Transaction

1)  Restricted to/from Unrestricted indexesAllowed - follow normal Journal Voucher guideline
Dr16088831S0358JxA restricted index can supersede the Prior Fiscal Year JV rules because of the federal requirements.
Cr16099931003U0032See UBPPM Policy 2450 - Cost Transfers
     
1)  Restricted to/from Unrestricted indexesAllowed - follow normal Journal Voucher guideline
Dr16088831S0358JxA restricted index can supersede the Prior Fiscal Year JV rules because of the federal requirements.
Cr16099931003U0032See UBPPM Policy 2450 - Cost Transfers
     
2)  Same IndexNot allowed - cannot move a prior year expense or revenue transaction within the same index
For example:
Dr49799931K13U0032The original expense from FY23 has carried forward into account code 1900 - Reserves Detail in FY24. It is no longer located in account code 3100; it is in 1900. Reclassing it within the same index from 3100 to 31K1 creates a misstatement within the index for FY24
Cr49799931003U0032
     
3) Unrestricted to UnrestrictedDecision tree ( first use #1, then #2 if cannot use 1.
Same level 2 fund/level 2 program1)Use 1903 up to surplus of 19XX if available.
Dr25499963A03U0032Determine 19XX available: +1900-1901+1903
Cr49799963A03U00322) Use 1660 if available to use or can be created
     Note: Cannot use 8045; 8045 JVs must cross Level 2 Funds/Programs
4) Unrestricted to UnrestrictedDecision Tree (first use #1, then #2 if cannot use #1
Crosses level 2 fund/level 2 program1) Use 8045 if <$5,000/<$20,000 for fiscal year
Dr5239931893U00292) Use JET/BDT - 11XX and 12XX
Cr49799931893U0032Refer to My Report FORITAH - HSC Transfer Allocation or MyReport FNRMBT - Main Transfer Allocation