Processing a Journal Entry
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.
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|
*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.
05/01/2020: reviewed content
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