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  6. Processing a Journal Entry

Processing a Journal Entry

Directive Statement

This directive establishes the proper methods of entering and modifying a journal entry.  Please note that the last day to submit journals at the end of the month is three full business days before the last business day of the month to allow time for review and processing time by the core offices before the month ends.

Reason for Directive

Journal entries are entered for internal business transactions and must be accurate and timely to ensure proper accounting.  These transactions can be for cash transfers, expense to expense (E2Es), expense to revenue (E2Rs), deposit corrections (DPCs), cash transfers (ONL) or other internal transactions (ONL).

Who must comply?

All UF Departments.

Resources

To enter journals, users will need the roles below, depending on the type of journal.

E2E/E2R: UF_GL_END_USER or UF_AP_APPROVER

DPC: UF_GL_END_USER or UF_AR_CASHIER

ONL, ISP or UPL: UF_GL_END_USER

For all dates below, users will have until the close of business to complete journal entries and process them to a V-V status for posting.

Deadline to Create Journal Entries

The deadline to create journal entries in UFLOR each month is by the end of the day, four days before the last business day of the month.  This allows for three full business days of review and processing time by the core offices before the month ends.

Fiscal Year 2020

Period Month Deadline to Create Journal Entries* Closing Date
1 July 7/26/2019 8/5/2019
2 August 8/27/2019 9/5/2019
3 September 9/25/2019 10/3/2019
4 October 10/28/2019 11/5/2019
5 November 11/22/2019 12/4/2019
6 December 12/19/2019 1/7/2020
7 January 1/28/2020 2/5/2020
8 February 2/25/2020 3/4/2020
9 March 3/26/2020 4/3/2020
10 April 4/27/2020 5/5/2020
11 May 5/26/2020 6/3/2020
12 June** 6/19/2020
7/2/2020
7/14/2020

*Users will have until the close of business to complete journal entries and process them to a V-V status for posting.

**June is an exception due to closing the fiscal year. Journals that involve appropriation funds (101-109, 192, 196, and 221-222) will have until 6/19/2020 to be entered for the closing fiscal year.  All other journals not involving appropriation will have until 7/2/2020.

Last Reviewed

05/01/2020: reviewed content

Resources

Add an Attachment to Budget Transfers

Add-Delete an Attachment

Change the Journal Date

Change the Journal Source

Delete a Journal That is Not Posted

Print a Journal

Prior Fiscal Year Expense Corrections

Reverse a Journal

Toolkits

UF HR Toolkit – Journal Entries

Contacts

General Accounting & Financial Reporting: (352) 392-1326; gahelp@ad.ufl.edu

Contracts & Grants: (352) 392-1235

Treasury Management: (352) 392-9057

UF Help Desk: (352) 392-HELP

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