FAQ - General Ledger

Will the legacy general ledger be available after the new General Ledger is implemented?

The old system will remain open with view-only access; you will continue to have archival access at the desktop.

When my journal entry posts, why does it have a ledger intercompany line?

Journal entries will create balancing segment lines when posted if the journal has different units or different fund types. These are system generated transactions to balance journals for financial activity between units and/or fund types (view screen shot).

Do I have to submit journals to the Office of the University for processing if I am charging a different unit on my journal?

No, as needed, any unit or unit, division, organization combination can be used on your journal which will be submitted to your Finance Approver for review and approval. It is the responsibility of the unit preparing the journal to inform the other unit, as necessary.

What is a spreadsheet journal?

A spreadsheet journal is an Excel document specifically designed to be used for the financial management system to create journals. The spreadsheet functionality allows uses to more efficiently create journals will a large volume of rows. The template can be saved to your desktop and when ready, the user is prompted to sign in to the application to upload it to the financial management system. Alternatively, users can create a journal in the application directly instead of using the Excel spreadsheet.

Can someone have the role of both a preparer and approver?

Yes. A user can be a “Finance Approver/Supervisor” for another person and at the same time create journals, which will be routed to his/her approver. Preparers will not be able to approve their own journals.

Can you send batch entries to an Approver, or will they get one-by-one notifications to approve each individual journal?

Approval is always for an entire batch, not individual journals in the batch. Batch journal functionality is new at Rutgers and allows users to create individual like journals associated to a single batch.

How do I select my Chart of Account Values for a journal?

Fill out the header fields of the journal.  When entering the legal entity, tab out of this field to make the COA segments list of values available. You can search for your COA values using the list of values selector or type them directly in the journal lines.

Can I add an attachment to a journal?

Yes, you have the ability to add attachments to a journal.

How does an approver get notified that there is a journal to approve?

The approver will receive a workflow notification and an email in the system that contains preparer and journal batch details, along with hyperlinks/buttons for possible actions such as “Approve” or “Reject.”

Can you see who prepared and approved a journal?

Yes. You will be able to see who prepared/approved a journal in the journal history.

Will a journal timeout if an Approver does not approve the journal?

There is a timeout feature on journal approval and it is currently set to two days to prompt the approver to take action if none was taken.

What will happen to my journal if not approved by month end?

When the journal is prepared, the accounting date selected correlates to the accounting period. If that accounting period closes without the journal getting approved and posted the journal will have to be withdrawn and the accounting date changed to the open period and re-submitted.

Can a preparer withdraw a journal?

A Preparer has the option to withdraw a journal as long as the journal has not been approved.

How will fringe be charged after we implement the financial management system?

Fringe benefits allocations will be charged for all employees in PeopleSoft with credit given back through the Chancellors Office for those departments that have state lines.

Can you customize the Manage Journals screen?

Yes you are able to customize the Manage Journal screen by using the “Add Field” drop down and by saving your search criteria.  Some suggested search parameters are “Created By” and “Creation Date.”

Does every journal have a unique account sequence number?

Yes. Every journal will have a unique account sequence number that is generated after the journal is approved and posted to the general ledger. As well, the journal will have a journal name which includes a unique number if the field is left blank on journal creation.  You can use the sequence number or the journal name as a search parameter when looking up a journal entry.

What is the bell icon on the home page?

The bell icon is your notification icon and alerts you when you have transactions that require your attention.

Can I export to Excel?

Yes.  All inquiry screens in the general ledger as well as all reports can be exported to Excel using the export to Excel icon.

What are some of the inquiry screens in the general ledger and how are the used?

  • Inquire on Detail Balances Helps a user look up detail balances for a particular period or a particular code combo and drill down to journal lines and sub ledger transactions.
  • Manage Journals: A comprehensive Journal inquiry screen which helps a user search a journal by various parameters. You can customize your search parameters, view the results and customize the view per user’s preference.
  • Account Inspector: This tool helps a user slice and dice data in various ways, perform multi-dimensional pivot table analysis. It helps in giving summarized values for various chart combinations for any particular period(s). From the Account Inspector, a user will be able to drill down from any child value to detail balances, journal lines and sub ledger transactions.
  • Account Monitor: Account monitor helps a user set up certain key accounts and helps efficient monitoring and tracking of these accounts in real time. The users will be able to see anomalies against the thresholds they define.

Are accrual and deferral journals automatically reversed?

Yes, these journals will be reversed on the first day of the next open (non adjustment) period.

Are recurring journals available for departments to create?

Not at this time. As an alternate a department can create an excel template with saved chart of account strings and just re-post the excel template every month, using the correct accounting date, to the financial management system.

When I enter journal lines and select my chart of accounts string for my journal, where can I see a description of the values?

The description of the chart of accounts is in the drop down list. The system will generate an error if wrong COA values are selected or entered or if you are violating any cross validation rules.

Can an unbalanced journal be posted?

Yes, users will get a warning that the journal is not balanced when they attempt to submit the journal for approval. It is important that all users responsible for creating journals heed the warning and fix the journal before re-submitting. It is also important that approvers reject any unbalanced journal submitted to them for approval. Since we have enabled Suspense at the ledger level to assist with processing interface journals from external systems, the system will accept unbalanced manual journal entries and post the difference to suspense.

What are the journal categories and when should they be used?

  • RU Actuals will be used most of the time to create your journal entries.
  • RU Cash Receipts category will be used when you create a cash journal. This category is linked to the ability to record cash receipts on projects and linked to the Cashier's office approval group as they are the only approver on these entries.
  • RU Accrual/Deferral category will be used at month end or year end to accrue or defer an expense. The journal entered in this category automatically reverses in the next non adjusting period. These adjustments will populate the Actuals column on P&Ls.
  • RU Manual Encumbrance category will be used to encumber a specific expense. These could be for purchases that are planned but a requisition is not going to be processed in near future. These manual encumbrance journals will be in the Encumbrance column on P&L.
  • RU PGM Rev Transfer category is used to transfer revenue from general ledger to projects, project to projects or projects to general ledger.
  • RU PGM Revenue Adj category is used to adjust revenue from general ledger to projects, project to projects or projects to general ledger.

What is the purpose of the RU Manual commitment?

Units can create a manual encumbrance journal to reserve funds against their budget for items that have not been encumbered via a requisition or purchase order or through PeopleSoft for salary.  It is the responsibility for units to reverse or maintain their RU Manual encumbrance balances as needed.

Are any of the journal categories reversing?

The only journal category that is reversing is the Accrual/Deferral which automatically gets reversed in the next non adjusting period.