FAIS Network > University Accounting > Journal Information

Journal Information

See the Knowledge Base article for detailed instructions on how to create a journal entry: https://jira.esg.wsu.edu/servicedesk/customer/kb/view/156963056

Journal Sources

There are three primary journal sources that departmental users should be familiar with:

Expense Transfer moves an expense from one set of worktags to another. The following general guidelines apply to journal entries using the Expense Transfer source:

  • The account removing the expense should have a credit value.
  • The account receiving the expense should have a debit value.
  • Payroll expenses should be moved with a Payroll Accounting Adjustment, not a manual journal: https://jira.esg.wsu.edu/servicedesk/customer/kb/view/156963437
  • Only expenses with original accounting dates in the current fiscal year can be moved. Prior-year expenses cannot be moved.
    • EXCEPTION: Prior-year transfers involving grant accounts are generally allowable.

Revenue Transfer moves a revenue transaction from one set of worktags to another. The following general guidelines apply to journal entries using the Revenue Transfer source:

  • The account removing the revenue should have a debit value.
  • The account receiving the revenue should have a credit value.
  • Only revenue with original accounting dates in the current fiscal year can be moved. Prior-year revenue cannot be moved.
  • Revenue may only be moved to or from non-core funds. Core funds (FD001, FD076, FD080) cannot use the Revenue Transfer journal source.

Operating Transfer moves a set amount of money from one account to another within the same fund. The following general guidelines apply to journal entries using the Operating Transfer source:

  • The account removing the money should have a debit value and use RC0116 as an Additional Worktag.
  • The account receiving the money should have a credit value and use RC0115 as an Additional Worktag.
  • Operating Transfers can only transfer money between accounts within the same FD worktag. Cross-fund transfers are generally unallowable.
  • Operating Transfers cannot overdraft accounts. An account must have enough available balance to cover the transfer before being approved.
  • Operating Transfers can only be used on non-core funds. Departments wanting to transfer between core accounts should use the Budget Amendment business process: https://jira.esg.wsu.edu/servicedesk/customer/kb/view/156963243

Additional Requirements

All journal entries should include the following information:

  • A narrative justification explaining why the journal entry is being made in the memo field.
  • Attachments showing any additional relevant context and/or reports used to determine journal amounts.
  • For revenue and expense transfers, the transaction(s) being transferred should be included on the line memo.
  • For journals involving grant accounts, Sponsored Programs Services may require additional information. Please consult with SPS on any grant-related journal questions.

Finding the Right Ledger Account

Each journal line requires the user to select a ledger account. For operating transfers, the ledger account will always be 4090:Operating Transfers.

For revenue and expense transfers, there are multiple potential ledger accounts depending on the Fund, Function, Spend Category or Revenue Category being used. To determine the correct ledger account for a given journal line:

  1. Search “View Account Posting Rule Set” in Workday and click on the resulting report with the same name.
  2. Select “Account Posting Rules” from the drop-down menu then click OK.
  3. On the left side of the screen, there is a scrolling menu starting with “Accumulated Depreciation.” Scroll down to either “Revenue” or “Spend” depending on which type of journal you are using.
  4. Click on either revenue or spend, then click the “Test Posting Rule” button.
  5. A couple dozen blank fields will pop up. Fill in only the Fund, Function, and Revenue/Spend Category fields with the worktags your journal line is using, then click OK.
  6. The resulting screen will feature a “Ledger Account Returned” row that provides the correct ledger account to use for a given combination.

Editing and Cancelling Journals

In-progress journals can be edited or cancelled by the initiating user. To do so:

  1. Search the journal number in Workday.
  2. Click on the related actions menu (three dots) once the journal comes up in the search.
  3. Under the Journal sub-header on the resulting Actions menu, the initiator will have the option to edit or cancel the journal.

Editing a journal will remove any prior approvals, and the journal will need to go through the approval process again after edits are complete. Cancelling a journal will remove it from all approver inboxes, and the initiator will no longer be able to edit the journal.