Cost Transfers - Journal Vouchers (JVs)
COST TRANSFERS - GENERAL INFORMATION
Cost transfers are exactly what one might imagine; they are used for basically making changes to any part of the accounting string (FOAPAL) for transactions that have posted to Banner. Cost transfers are necessary when the charges have fully cleared Banner and there is no longer the opportunity to adjust the purchase order or encumbrance, and when the charge has already uploaded to Banner from the JP Morgan credit card site.
JOURNAL VOUCHERS (JVs)
General Information
The cost transfer process for correcting the FOAPAL string on non-labor expenditures is the Journal Voucher (JV) process. To learn more about this process in detail, please view the latest video training that has been provided by UAF's Office of Finance and Accounting.
Please note that making changes to charges on restricted funds (which will begin with a 3, 2 or 14), additional restrictions and guidelines apply; any cost transfer for a restricted fund is submitted more than 60 days beyond the end of the posting month of the charge will require an additional memo explaining why the charges were placed on the incorrect account, why they are relevant to the grant and belong on the restricted fund, and an explanation of the reasons for the delay. A sample memo is also provided below, however, as there are many reasons why one of these may be completed, please contact the CLA Fiscal Officer, Heather Foltz (hlfoltz@alaska.edu) if you need further guidance in completing your 60 day justification memo.
JV Preparation - Instructions
The JV form is provided at the bottom of this page as a downloadable MS Excel file, as well as a sample JV for reference.
When you are preparing your document, please take note of the following:
The Description field on the JV is limited to 34 characters and it must begin with the Banner document number assigned; if it is a credit card transaction, the sequence number is also required to be listed after an underscore (e.g. PNP11_212). The instructions for finding your sequence number are also available for download at the bottom of this page.
The full description should include the document & sequence number (as shown above), the closest duplication of the vendor name you can get, and the date, listed in x/x/xx format (e.g. PNP11_212 Amazon MKTP 1/12/22); note that vendor names often need to be shortened to make room for the Document number and the date, as those elements are always required.
The Explanation field needs to include a short statement that explains why the charges were placed on the incorrect fund/org/acct, and why they are relevant to the fund/org/acct code being charged. For example:
"beakers purchased for archeology lab posted to cardholder default accounting due to missed reconciliation"
"iPad purchased for direct classroom use was miscoded as general supply by card reconciler"
"notebooks for data collection performed under G14214 were charged to fund 1 because the fund was unavailable in Banner at time of purchase"
for invoices: "Davis Hall Rental Fee, Invoice #0000, UAF Development"
If there are procard transactions on the JV, the Explanation field also needs to include a final line that identifies the last name of the procard holder, with no more than three card holders being listed per JV (e.g. Procard Holder: Foltz).
JV Preparation - Training Video
The UAF Office of Finance and Accounting does provides a video training for processing Journal Vouchers, which can be accessed here.
JV Submission
All completed JVs must be sent to the CLA Fiscal Officer for review, approval, and final submission to UAF OFA for keying.
JVs can be submitted via email as an Excel document, with all of the backup provided in one PDF or they can be submitted via Docusign. When submitting through Docusign, please make sure to create an enterable text box in the Doc Ref # field, as data does need to be entered into that field prior to submission to OFA.
FUPLOADS (NEW PROCESS!)
General Information
The FUPLOAD form is now available for JVs that are more than 10 lines long, where the transactions are timely (in a similar time frame) and relational (related to a common purpose/corrective action). For example, the FUPLOAD form could be used for correcting a Procard mapper error reconciliation for a department, there are more than five charges, and the charges have posted on the same transaction date and/or billing cycle.
FUPLOAD Preparation & Submission
The MS Excel file that is to be used for FUPLOADs is available for download below.
FUPLOADS must always be completed and submitted as an Excel document, with all of the same Banner backup required for a normal JV provided in one PDF, to the CLA Fiscal Officer for their review, approval and final submission to UAF OFA.