Overview of Journals

1. Definition

Journals are a means of transferring income or expenditure between different account codes and/or analysis codes.  All transfers must be self-balancing.  It is not possible to transfer more into one account than is being taken out of another.  They may be used for example to correct mispostings or arrange for expenditure incurred on one code to be reallocated and recharged to others.

2. UCL makes limited use of the journal facilities within FIS.  IDT’s (Inter and Intra Departmental transfers) are entered using the Accounts Payable module and are the subject of a separate overview.

Journals are however used for certain specific purposes and can be categorised as follows:

a)      Manual journals

b)     ADI journals

c)      Other journal type input.

3. Manual Journals

These are used by Finance staff only to make transfers between general ledger codes.

Manual journals are not available to Departmental users.

4. ADI Journals

ADI stands for Automatic Data Interface and is method for importing data directly into the database.

In most cases UCL uses a template in an excel spreadsheet as the source of the data.

Departments are requested to complete year-end entries regarding creditors on pre-formatted spreadsheets.  These are then returned to Finance Division and can be imported into FIS without any re-keying.

Some budget journals are entered in a similar way.

Advice and guidance on the use of the spreadsheet template is normally issued with the year-end timetable.

ADI journals are only used for posting to General Ledger accounts.

5. Other Journal type input

A number of other specialist items are imported into FIS from feeder systems via interface tables without the need for re-keying.

These include:

a)      Payroll Costs

b)      Recharges of HEFCE staff costs to research grant

c)      Grant overhead entries

d)      Certain other regular recharges.

6. In all cases journal entries will not be posted into FIS unless there is approval by an Authorised Signatory manually on a batch header or through the on line process.

There has to be appropriate cross-referencing to source information and an appropriate filing system of all documents for audit purposes.

This page last modified June 3, 2011 by Web Editor