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Sponsor Invoicing

A Letter of Authorization from the sponsor is required to document the sponsor's commitment to pay designated education expenses for a sponsored student. The Letter of Authorization must specify the covered expenses and the period of time these expenses will be paid for by the sponsor.

Sensitive Information

Specific information and instructions on processing a journal entry are available in the Journal Operator Training Course.

Once it has been determined that the journal is appropriate for the Funds involved, it should be approved based on departmental procedures.

All journal entries are required to be supported by a complete description. The descriptions should be complete enough for its review and approval. There are 2 types of descriptions:

• Journal Header Description (254 character maximum)
• Journal Line Descriptions (30 character maximum)

Journal Header Description

The journal description (or long description) should completely describe the transaction being processed and should indicate why the journal entry is necessary. The text of the description should contain:

• What is being transferred/corrected
• Where it is being transferred
• Why the original transaction(s) was incorrect
• A reference to applicable supporting documentation

Syntax

When creating a journal entry, it is recommended to use one of the following keywords to identify the type of journal entry:

Transfer

Used when moving revenues or expenses to a different Chartfield combination.

Correct

Used when correcting erroneous Chartfield values.

Re-account

Used when correcting erroneous Account values.

Reverse

Used when reversing a previous journal entry that was created in error.

Journal Line Descriptions

Line descriptions provide additional information related specifically to individual journal lines. In addition, each line description must relate to the journal header description. The length of a journal line description cannot exceed 30 characters (including spaces).

The following guidance is provided to assist with preparing journal line descriptions:

Action Code + Original Transaction Reference + SOA Date + Miscellaneous

Action Codes

Action codes identify the type of journal entry correction. The commonly used Action codes are:

Action Code	Purpose
COR (Correction)	Use to transfer an individual transaction between Chartfield combinations.
TSF (Transfer)	Use when correcting an error in the original transaction's Chartfield values.
R/A (Re-Account)	Use when correcting the Account value of the original transaction, where the other Chartfields remain the same.
REV (Reverse)	Use when correcting a previously posted journal entry that was created in error.

Original Transaction Reference

The original transaction reference should be the Journal ID.

SOA Date

The month and year the original journal entry appeared on the Statement of Activity (SOA).

Miscellaneous

The miscellaneous section of the journal line description is optional, but is very useful for your department’s SOA reconcilers. It provides another level of detail for tracking transactions. Common examples of miscellaneous information include:

• Voucher ID
• Department reference codes
• Shortcodes
• Travel Identifiers

Providing appropriate support for a financial transaction is an essential element of internal control. There are two methods for supporting a journal entry: