NUFinancials Actuals Journal Training Guide

This is a comprehensive guide to understanding and processing every type of actuals journal available in NUFinancials.

NUFinancials is Northwestern University’s accounting system.  Every day it does our bookkeeping for us. After every purchase, expense report, deposit, or other monetary transaction that we complete, NUFinancials creates the journal entries that record the effects of those transactions on the General Ledger.

There are situations, however, when a manual journal entry is needed. There are several Journals at Northwestern. Budget journals are for planning revenue and expenses for the upcoming fiscal year. This guide does not cover Budget journals. You can find information about them in myHR Learn by searching for NUPlans or Budget.

This guide covers Actuals Journals - what was spent or earned. There are four Actuals Journals. Which journal you should use depends on the situation:

  • Use the Correction Journal when you need to correct an amount or chart string for an expense or revenue that has been already been posted to the General Ledger.
  • Use an Internal Sales Journal for sales inside the University, from one department to another.
  • Use a Transfer Journal to move funds from one fund to another.
  • Use an Agency Journal to facilitate transactions with groups affiliated with Northwestern, such as fraternities, sororities, and alumni associations.

When you create and submit a journal entry, it follows a workflow process. Depending on the amount of the transaction, up to 3 people may be needed to approve it. A level one approver is required for amounts up to $1500, a level two approver for amounts between $1500 and $5000, and a level three approver for amounts greater than $5000. If approval is given for all three levels and the entry is $500 or more, Accounting Services will review the transaction and if they approve, your transaction is posted. Journals that include sponsored projects require approval from Accounting Services for Research and Sponsored Programs, ASRSP.

If an approver denies the entry, you can decide whether to modify it and resubmit it, delete it yourself, or do nothing and it will be deleted at the end of the accounting period. Your transaction will also be deleted if your approvers do not fully approve it by the end of the accounting period.

Correction Journals (COR) are used to correctly categorize revenue or expense transactions within the Chart of Accounts.

They correct transactions that were previously approved and posted to the General Ledger with a mistake in the chart string. Correction Journals are not used to correct transactions in workflow, salary and benefits accounts, nor other posted actuals journals. Correction Journals cannot make balance sheet changes.

Navigate to the NU Actuals Journals

  • Login to NU Financials > northwestern.edu
  • Navigation: NUFinancials > NavBar > NU Actuals Journal > Add/Update Actuals

Select Correction Journal from the list of journals

This illustration uses the following scenario. While reviewing the GL008, you discover that Expense Report #295348 for $99.05 should have been charged to a sponsored project. To fix the problem, you create a correction journal. The journal will move the expense off the department's unrestricted chart string and onto the sponsored project's.

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  1. Click Correction Journal, or confirm that it is selected by
  2. Click Create Journal.

Step 1: Check the journal date

The purpose of page 1 is to specify the Journal Date.

About the Journal Date

The Journal Date determines the accounting period in which the journal will post. The default is today's date and the current period. You may back-date the journal only if the prior period is still open. This may be the case during the first few days of each month. For example, in early September, you may change the Journal Date to August 30th. Do so only if the journal truly belongs in the prior month's financial activity. You may future-date the journal to fall within an accounting period that is not yet open and extend the time to gather approvals. If you do, the journal will not post until the period opens.

To exit without saving the journal, click Close

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  1. Confirm the Journal Date.

Step 2: Specify the purpose, and enter an ID and reason

Journal Purpose defaults as Correct Expense. The purpose determines which account codes are available to you in Journal Lines (Step 3). In this case, only Other Expenses account codes in the 70000 series are valid. When you select Correct Revenue, only External Revenue account codes in the 40000 series are valid in Journal Lines.

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  1. Select the Journal Purpose.
  2. Enter the Journal ID of the journal you want to correct
  • The key to finding the Original Journal ID is the GL008 Revenue and Expense Activity Report. If the transaction type is Journal, the Transaction ID is a Journal ID. This is the case with Cash Receipt Tickets (CRTs) and other journals. If the transaction type is Expense Report, Voucher, or Cash Advance, you must find the associated Journal ID. Refer to the document Find the Original Journal ID for steps and assistance. In summary:
  • Click the Transaction ID in the HTML view of the GL008 to see the Journal ID or
  • Use Accounting Entries inquiries to find the associated Journal ID or
  • Use Lifecycle Viewer (vouchers only).
  • If the Journal ID is valid, NUFinancials displays the Source and Posted Date.
  • If the Posted Date is more than 90 days old, NUFinancials displays a red text message.
  • If the Journal ID is not valid, NUFinancials displays a notification and a red box error:
  1. Enter a reason for the journal.

Journal Rules

  1. If more than 90 days have passed since the original journal, a justification is required.
  2. Allowable account codes are External Revenue accounts in the 40000 series and Other Expense accounts in the 70000 series.
  3. Transfer account codes in the 80000 series may not be used.
  4. Workflows include approval levels for projects and departments, as applicable, and a final level for Accounting Services.
  5. Debits and credits on the journal must balance.

Finally, rules 6 and 7 make it possible for non-accountants to use the journal successfully.

  1. Use Rule 6 to increase accounts.
  2. Use Rule 7 to decrease accounts.
  • Expense refers to accounts in the 70000 series.
  • Revenue refers to accounts in the 40000 series.

Step 3: Enter the original chart string and amount

As a best practice, enter the original chart string on Line 1, then enter the correct chart string in Line 2. In most cases, you will decrease the amount on the original chart string and increase the amount on the correct chart string.

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  1. Enter the original chart string in Line 1.
  • Use the magnifying glass next to a ChartField to lookup the possible values by keyword or description.
  1. Enter the amount associated with the wrong chart string.
  • In this scenario, you are following Rule 7, which says, To decrease an expense, enter a negative amount (credit).
  • Tip! The Journal Rules printed on the journal itself make it possible for non-accountants to use the journal successfully.

Step 4: Enter the correct chart string and amount

In Line 2, a debit increases the amount on the correct account code, in this example, 73010.

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  1. Click the plus sign. Result: Line 2 appears with the chart string copied down for your convenience.
  2. Enter the correct chart string in Line 2. (In this example, you just change the account code.)
  3. Enter the amount moving to the correct chart string and press <Tab>.
  • In this scenario, you are following Rule 6, which says, "To increase an expense, enter a positive amount (debit)."
  • Result: Total Debits and Total Credits are shown in Totals. Verify they are equal, and if not, revise the amounts you entered.

Step 5: Attach supporting documents

You may attach scanned electronic documents, if required from Approvers, for the transaction.

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  1. Click Attach. Result: The File Attachment dialog appears.
  2. Click Browse. Result: A browser appears that enables you to locate the scanned file on your computer.
  3. Browse to and select the scanned file.
  4. Click Open > Upload. Result: The document is attached and the file name appears (as shown above).
  5. You may click View to see the document in a new window and verify.

Step 6: Validate the journal

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  1. Click Save & Submit.
  2. You may need to complete the 90 Day Justification Form.
  3. Result: NUFinancials performs two validations and displays the results (below).
  • A 10-digit Journal ID appears after the journal is saved.
  • NUFinancials confirms that the chart string has a budget. If so, Budget Status is Valid. If not, Budget Status is Error.
  • NUFinancials evaluates the journal and the chart string itself. If the journal is valid and the chart string properly formed, Journals Status is Valid. If not, Journal Status is Error.
  • Refer to the Troubleshooting for Actuals Journals Reference KB article for help with Error statuses.
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Summary

  • Step 1: Check the journal date
  • Step 2: Specify the purpose and reason
  • Step 3: Enter the original/wrong chart string and amount
  • Step 4: Enter the correct chart string and amount
  • Step 5: Attach supporting documentation
  • Step 6: Validate the journal

What happens next?

  • Approvers must make a decision about the journal.
  • You may find and view your journal using the Actuals Journal Search.
  • Monitor the workflow for progress or feedback.
  • Journals must be approved and posted before the accounting period closes, otherwise Accounting Services deletes them.
  • If you find yourself without approvals and facing deletion at the end of a period, you may copy the journal to avoid recreating the journal from scratch. Give the new journal a date in the next period.

Transfer Journals (TFR) are a type of Actuals Journal that move amounts from one chart string to another within the University Chart of Accounts, as defined by university policy. They enable movement of live funds between major units of the University and between select fund types. Transfer Journals should not be confused with Budget Journals. They do not adjust the budget; but like all actuals they do affect budget balance.

Navigate to the NU Actuals Journals

  • Login to NU Financials > nufin.northwestern.edu
  • Navigation: NUFinancials > NavBar > NU Actuals Journal > Add/Update Actuals

Select Transfer Journal from the list of journals

Consider this scenario. Professor Smith is conducting theatre research with graduate students from the Theatre and Drama PhD program. To support the research effort, the School of Communication Deans office uses a transfer journal to move $1000.00 from a gift to a designated project managed by Professor Smith.

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  1. Select Internal Sales
  2. Click Create Journal.

Step 1: Check the journal date

The purpose of Step 1 is to select the Journal Date.

The Journal Date determines the accounting period in which the journal will post. The default is todays date and the current period. You may back-date the journal only if the prior period is still open. This may be the case during the first few days of each month. For example, in early September, you may change the Journal Date to August 30th. Do so only if the journal truly belongs in the prior months financial activity.

You may future-date the journal to fall within an accounting period that is not yet open and extend the time to gather approvals. If you do, the journal will not post until the period opens.

To close the journal without saving it in the system click Close.

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  1. Enter the Journal Date.

Step 2: Enter a reason

The purpose of Step 2 is to enter the reason for the transfer. You may click Previous to return to Step 1 and change the Journal Date.

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  1. Enter a reason for the journal.

Journal Rules 

  • At the top of Step 3 are Journal Rules that provide guidance for completing the journal.
  • Only accounts in the 8 series are allowed on the journal.
  • Transfer account codes come in matched pairs, where one is for the expense and the other is for revenue.
  • The most commonly used account codes are 88801 (expense) and 88802 (revenue).
  • Refer to the Account Code Guide on the Accounting Services website for other allowable transfer account numbers.
  • Grant (6XX) and Agency (7XX) fund numbers are not allowed on the journal.
  • Debits and credits on the journal must balance.
  • Finally, rules 4 and 5 make it possible for non-accountants to use the journal successfully.
    • Use Rule 4 to increase accounts.
    • Use Rule 5 to decrease accounts.

Step 3: Enter the giving chart string and amount

It is a best practice to enter the giving chart string and information on Line 1.

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  1. Enter the chart string that is giving the amount (and incurring the expense).
  2. Enter the transfer account for the expense.
  3. Enter the increase in expenses with a positive sign (debit).
  • Note: You are following Rule 5 To increase expenses, enter a positive amount (debit).

Step 4: Enter the recipient chart string and amount

It is a best practice to enter the recipient on Line 2. 

To delete a journal line, select the checkbox on a line. Then click Delete Selected Lines.

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  1. Click the plus sign. Result: Line 2 appears.
  2. Enter the recipients base chart string.
  3. Enter a transfer account code for revenue.
  4. Enter the increase in revenue with a negative sign (credit).
  • Note: You are following Rule 5 To increase revenue, enter a negative amount (credit).
  • Debit/Expense. Journal line 1 has a debit of $1000. It increases expenses in the chart string that will be charged that amount.
  • Credit/Revenue. Journal line 2 has a credit of - $1000. It increases revenues in the chart string that receives the amount.

Step 5: Attach supporting documents

You may attach scanned electronic documents, if required from Approvers, for the transaction.

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  1. Click Attach. Result: The File Attachment dialog appears.
  2. Click Browse. Result: A browser appears that enables you to locate the scanned file on your compter.
  3. Browse to and select the scanned file.
  4. Click Open > Upload. Result: The document is attached and the file name appears (as shown above).
  5. You may click View to see the document in a new window and verify.

Step 6: Validate the journal

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  1. Click Save & Submit. Result: NUFinancials performs two validations and displays the results (next page).
  • A 10-digit Journal ID appears after the journal is saved.
  • NUFinancials confirms that the chart string has a budget. If so, Budget Status is valid. If not, Budget Status is Invalid.
  • NUFinancials evaluates the journal and the chart string itself. If the journal is valid and the chart string properly formed, Journals Status is Valid. If not, Journal Status is Error.
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Summary

  • Step 1: Check the journal date
  • Step 2: Specify the reason
  • Step 3: Enter the giving chart string and amount
  • Step 4: Enter the receiving chart string and amount
  • Step 5: Attach supporting documentation, if applicable
  • Step 6: Validate the journal

What happens next?

  • Approvers must make a decision about the journal.
  • Approvers for both giver and receiver see the journal and can make a decision about it.
  • You may find and view your journal using the Actuals Journal Search.
  • Monitor the workflow for progress or feedback.
  • Journals must be approved and posted before the accounting period closes, otherwise Accounting Services deletes them.
  • If you find yourself without approvals and facing deletion at the end of a period, you may Copy the journal to avoid recreating the journal from scratch. Give the new journal a date in the next period.

An Internal Sales Journal (ISJ) is a type of Actuals Journal. It is one of the solutions available to Northwestern University staff to record the sale of goods or services from one NU unit to another NU unit. Internal sales with the University are sometimes called RDX sales or recharges. Departments and units with a low volume of internal sales may use the actuals portal to create the sales transaction.

Units with a high volume of internal sales may contact Accounting Services to explore the option of journal spreadsheet uploads.

Navigate to the NU Actuals Journals

  • Login to NU Financials > nufin.northwestern.edu
  • Navigation: NUFinancials > NavBar > NU Actuals Journal > Add/Update Actuals

Select Internal Sales Journal from the list of journals

Consider this scenario. While making copies for a presentation, the Anthropology department copier breaks. The History department volunteers the use of their copier to finish the job. To cover the expense of the copies, the History department creates an internal sales journal to charge the Anthropology department for the expense and create internal revenue for the History department.

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  1. Select Internal Sales
  2. Click Create Journal.

Step 1: Check the journal date

The purpose of Step 1 is to select the Journal Date.

The Journal Date determines the accounting period in which the journal will post. The default is todays date and the current period. You may back-date the journal only if the prior period is still open. This may be the case during the first few days of each month. For example, in early September, you may change the Journal Date to August 30th. Do so only if the journal truly belongs in the prior months financial activity. You may future-date the journal to fall within an accounting period that is not yet open and extend the time to gather approvals. If you do, the journal will not post until the period opens.

You may click Close to exit the journal without saving your work.

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  1. Enter the Journal Date.

Step 2: Specify the purpose and enter a reason

The purpose of Step 2 is to confirm the Journal Purpose and enter the reason. 

  • New Sale or Service Provided. Select this if you are recording the sale of goods or
  • Correction to Sale or Service. Select this option to correct a prior ISJ.

Click Previous to navigate to the prior page.

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  1. Select the Journal Purpose: New Sale or Service Provided.

Journal Rules

At the top of Step 3 are Journal Rules that provide guidance for completing the journal.

  1. Be aware that the 90-day rule applies to internal sales. An ISJ more than 90 days after the sale date requires justification.
  2. Only accounts in the 5 and 7 series are allowed on the journal.
  3. If you are correcting a prior internal sale, you must reference the original Internal Sales journal.
  4. Workflows include approval levels for projects and departments, as applicable, and a final level for Accounting Services. ISJs containing grant chart strings are also routed to ASRSP.
  5. Debits and credits on the journal must balance.

Finally, rules 6 and 7 make it possible for non-accountants to use the journal successfully.

  1. Use Rule 6 to increase accounts.
  2. Use Rule 7 to decrease accounts.
  • Expenses refer to accounts in the 7 series.
  • Revenue refers to accounts in the 5 series.

Step 3: Specify the date of the sale or service

The purpose of Step 3 is to complete the journal. First, you must specify the date of the sale or service, or date range.

You may bill a sale or service on the day that it occurs or after. Charges that occur more than 90 days after the date of sale or service may require a justification. For sales or services that occur over a period of time, the best practice is to charge monthly. Enter the date range in the Period fields. If you do not know the exact date of the sale, you may select the accounting period in which the sale occurred.

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  1. Enter the Date or Period of the sale or service.

Step 4: Enter the seller's information

It is a best practice to identify the seller in Line 1 of the journal.

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  1. Enter the seller's base chart string.
  2. Enter an internal revenue account code in the 5 series.
  3. Enter the increase in revenue with a negative sign (credit).
  • Note: You are following Rule 6 To increase revenue, enter a negative amount (credit).

Step 5: Enter the buyer's information

Identify the buyers in subsequent lines of the journal.

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  1. Click Insert Line. Result: Line 2 appears.
  2. Enter the buyer's base chart string.
  3. Enter an internal revenue account code in the 7 series.
  4. Enter the decrease in expenses with a positive sign (debit).
  • Note: You are following Rule 6 To increase expenses, enter a positive amount (debit).

Step 6: Attach supporting documents

You may attach scanned electronic documents, if required from Approvers, for the transaction. For example, you may attach a bill, if it is part of normal business procedures.

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  1. Click Attach. Result: The File Attachment dialog appears.
  2. Click Browse. Result: A browser appears that enables you to locate the scanned file on your computer.
  3. Browse to and select the scanned file.
  4. Click Open > Upload. Result: The document is attached and the file name appears (as shown above).
  5. You may click View to see the document in a new window and verify.
  6. Step 7: Validate the journal

    After entering the date and Journal Lines and attaching documents, initiate the validation.

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    1. Click Save & Submit. Result: NUFinancials performs two validations and displays the results.
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    • NUFinancials confirms that the chart string has a budget. If so, Budget Status is valid. If not, Budget Status is Error.
    • NUFinancials evaluates the journal and the chart string itself. If the journal is valid and the chart string properly formed, Journals Status is Valid. If not, Journal Status is Error.
    • Refer to the Troubleshooting for Actuals Journals Reference for help with Error Statuses.

    Summary

    • Step 1: Confirm or change the Journal Date.
    • Step 2: Confirm the Journal Purpose and the reason.
    • Step 3: Specify the date of the sale or service.
    • Step 4: Enter the sellers chart string, revenue account, and the dollar amount.
    • Step 5: Enter the buyers chart string, expense account, and the dollar amount.
    • Step 6: Attach supporting documentation, if applicable.
    • Step 7: Validate the journal.

    What happens next?

    • Approvers must make a decision about the journal.
    • Approvers for both buyer and seller see the journal and can make a decision about it.
    • You may find and view your journal using the Actuals Journal Search.
    • Monitor the workflow for progress or feedback.
    • Journals must be approved and posted before the accounting period closes, otherwise Accounting Services deletes them.
    • If you find yourself without approvals and facing deletion at the end of a period, you may Copy the journal to avoid recreating the journal from scratch. Give the new journal a date in the next period.

Agency Journals are a type of Actuals Journal used to record University transactions involving one or more agency chart strings. In NUFinancials, agency refers to an external organization with a chart string inside the University Chart of Accounts. Examples are Academic Journals, the Alumni Association, sororities, fraternities, and student organizations. NU holds an agency's funds in NU bank accounts to ease the agency's administrative burden.

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If you are interacting or doing business with a student organization, contact the Student Organization Financial Office (SOFO) or the Chicago Organization Financial Office (COFO) for the chart string required for the Agency Journal.

Navigate to the NU Actuals Journals

  • Login to NU Financials > northwestern.edu
  • Navigation: NUFinancials > NavBar > NU Actuals Journal > Add/Update Actuals Journal

Select Agency Journal from the list of journals

Consider this scenario. The Northwestern Alumni Association (NAA) has an agency chart string inside the University Chart of Accounts, and the bank account is held by the University. The NAA uses the Norris Center for a catered lunch for the Board of Trustees during an NAA Leadership Symposium. The Norris Center charges the NAA $3000.00 with the Agency Journal, instead of collecting a cash or check from the NAA. 

  1. Select Agency
  2. Click Create Journal.

Step 1: Check the journal date

The Journal Date determines the accounting period in which the journal will post. The default is today's date and the current period. You may backdate the journal only if the prior period is still open. This may be the case during the first few days of each month. For example, in early September, you may change the Journal Date to August 30th. Do so only if the journal truly belongs with the prior month's financial activity. You may future-date the journal to fall within an accounting period that is not yet open and extend the time to gather approvals. If you do, the journal will not post until the period opens.

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Click Close to exit and close the journal without saving it in the system.

  1. Enter the Journal Date.

Step 2: Specify the purpose and enter a reason

Journal Purpose Options 

  • New Agency Journal. Select this if you are recording an internal University transaction in which at least one chart string is an Agency with a Fund number in the 7XX series.
  • Correction Agency Journal. Select this option to correct any prior transaction (expense reimbursement, voucher, journal, or other) that was posted to the General Ledger with a mistake in it.
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  1. Confirm the Journal Purpose is New Agency Journal.
  2. Explain the reason for the journal in the Reason/Description field.

Journal Rules

At the top of Step 3 are Journal Rules that provide guidance for completing the journal.

  1. At least one line of the journal must have an Agency chart string with a Fund in the 7XX series.
  2. Allowable account codes are External Revenue accounts in the 40000 series and Other Expense accounts in the 70000 series. The journal may record agency revenue or agency expenses.
  3. Workflow includes approval levels for projects and departments, as applicable, and a final level for Accounting Services. AGYs containing grant chart strings are also routed to Accounting Services for Research and Sponsored Projects (ASRSP).
  4. If correcting or adjusting, you must reference the original Agency Journal.
  5. Debits and credits on the journal must balance.

Finally, rules 6 and 7 make it possible for non-accountants to use the journal successfully.

  1. Use Rule 6 to increase accounts.
  2. Use Rule 7 to decrease accounts.
  • Expense refers to accounts in the 70000 series.
  • Revenue refers to accounts in the 40000 series.
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Step 3: Enter the NU department's information

In this scenario, the Norris Center is an NU department interacting with an agency, the Alumni Association. In such cases, it may be a good practice to place the department in line 1 of the journal and the agency in line 2. 

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  1. Enter the NU department base chart string.
  2. In this scenario, enter an external revenue account code in the 40000 series.
  3. In this scenario, enter the increase in revenue with a negative sign (credit).
  • Note: You are following Rule 6 To increase revenue, enter a negative amount (credit). 

Step 4: Enter the agency organization's information

You may identify the agency organization(s) in subsequent lines of the journal. In this example, the agency is a buyer of space and services from the Norris Center, so the account code is an expense account in the 70000 series. 

  • To increase revenue, Line 1 has a credit (-) in the amount of $3000.00. A credit increases revenue.
  • To increase expenses, Line 2 has a debit (+) in the amount of $3000.00. A debit increases an expense account.
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  1. Click Insert. Result: Line 2 appears.
  2. Enter the agency organization's base chart string.
  3. In this scenario, enter an Other Expense account code in the 70000 series.
  4. In this scenario, enter the increase in expenses with a positive sign (debit).
  • Note: You are following Rule 6 To increase expenses, enter a positive amount (debit).

Step 5: Attach supporting documents

You may attach scanned electronic documents, if required from Approvers, for the transaction. For example, you may attach a bill, if it is part of normal business procedures.

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  1. Click Attach. Result: The File Attachment dialog appears.
  2. Click Browse. Result: A browser appears that enables you to locate the scanned file on your computer.
  3. Browse to and select the scanned file.
  4. Click Open > Upload. Result: The document is attached and the file name appears (as shown above).
  5. You may click View to see the document in a new window and verify.

Step 6: Validate the journal

Now you may validate the journal.

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  1. Click Save & Submit. Result: NUFinancials performs two validations and displays the results (below).
    • A 10-digit Journal ID is assigned to the transaction after the journal is saved.
    • NUFinancials confirms that the chart string has a budget. If so, Budget Status is valid. If not, Budget Status is Error.
    • NUFinancials evaluates the journal and the chart string itself. If the journal is valid and the chart string properly formed, Journals Status is Valid. If not, Journal Status is Error.
    • Refer to the Troubleshooting for Actuals Journals Reference KB article for help with Error statuses.
  2. After you submit the journal into workflow, approvers can see and act upon the journal.
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Summary

  • Step 1: Confirm or change the Journal Date.
  • Step 2: Confirm the Journal Purpose and the reason.
  • Step 3: Enter the first chart string, account, and amount.
  • Step 4: Enter the second chart string, account, and amount.
  • Step 5: Attach supporting documentation, if applicable.
  • Step 6: Validate the journal.
  • Step 7: Submit the journal to workflow.

What happens next?

  • Approvers must make a decision about the journal.
  • Approvers for all chart strings see the journal and can make a decision about the lines of the journal that contain chart strings for which they are responsible.
  • You may find and view your journal using the Actuals Journal Search.
  • Monitor the workflow for progress or feedback.
  • Journals must be approved and posted before the accounting period closes, otherwise Accounting Services deletes them.
  • If you find yourself without approvals and facing deletion at the end of a period, you may Copy the journal to avoid recreating the journal from scratch. Give the new journal a date in the next period.

Are you or your journal approvers curious about "Cash-Due To-From Offset" lines on an actuals journal? NUFinancials facilitates fund accounting with system-generated cash offset lines when different fund types occupy the journal lines.

Why Do Journal Lines Double?

When an actuals journal contains fund numbers from different fund groups, NUFinancials adds cash balancing (offset) lines to move cash from one fund to another in amounts that match the revenue and expense amounts. Offset lines double the total debits and total credits; however they do not affect revenue and expense accounts, nor do they affect the budget and chart string balances. The offsets use an Asset account code (Cash) 10101. Approvers should not reject the transaction due to the presence of offset lines, as they are a necessary accounting procedure.

What Do Cash Offset Lines Look Like?

Below is an example of a Transfer Journal with cash balancing lines. The fund numbers are 171 from the Unrestricted fund group and 320 from the Gift fund group. The offset lines (lines 3&4) do not affect the gift budget nor the unrestricted project budget (lines 1&2).

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For additional assistance please contact the IT Support Center at 847-491-4357 (1-HELP) option 2, or consultant@northwestern.edu.




Keywords:journals isj correction transfer agency   Doc ID:111103
Owner:ESAF GL Team .Group:Northwestern
Created:2021-05-28 11:15 CDTUpdated:2021-08-06 08:59 CDT
Sites:Northwestern
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