Policies and Procedures

Journal Entries

Contact: Ashley Hilyer
Email: Ashley.hilyer@ucf.edu
Phone: (407) 823-4578

Updated: April 10, 2014

Downloads:  Journal Lookup,  Offline Journal TransfersSubmitting A Journal Entry


Off-Line Journal Entry: Overview

Operations (24-xx-00-01) OPS (24xx-00-74)
Budget: $40,000 Budget: $10,000
Expenditures $10,000 Expenditures $15,000
Balance $30,000 Balance ($5,000)

In the above example the OPS is negative so the department has determined that they would like reimburse $5,000 of the OPS expenditures from operations, therefore, they need to move expenditures from OPS to operations. (Note: that the instructions are opposite of the budget transfer method). After the off-line journal entry is processed the budget overview would have the following information:

Operations (24-xx-00-01) OPS (24xx-00-74)
Budget: $40,000 Budget: $10,000
Expenditures $15,000 Expenditures $10,000
Balance $25,000 Balance $0.00

Note: The budget for Operations and OPS are exactly the same. The expenditures from OPS went from $15,000 to $10,000 and the expenditures for Operations went from $10,000 to $15,000.

As you can see they are two very different processes of ‘moving money’ but they result in the same $0.00 balance in OPS. It is important to understand how each of the requests impacts the department.

Off-line Journal Entry Limitations
Only the college offices can create off-line journal entries to move salary charges against the Department/School/Center/Institute’s Salary Allocation. Meaning, the budget units can’t submit off-line journal entries against department number 24xx-20-01 or 24xx-20-74. To request a journal  entry to be complete for one of these accounts, please send an email request to ashley.hilyer@ucf.edu.

  • This limitation is extremely important since the salary allocation, expenditures and reimbursements are the college’s responsibility.
  • this can include arrangements with Human Resources, Academic Affairs and/or Finance & Accounting.
  • Back-up Document
    • the college asks that back-up document (copy of the invoices, expenditure reports or report generated by staff/faculty) be submitted to F&A or uploaded to UCF Financials with the off-line journal entry.
    • NOTE: F&A will not accept the Cost Center Report–unless you redact confidential information (fringe/benefit costs).

Processing Off-Line Journal Entries
Off-Line Journal Entries are prepared by the department for non-salary expenditures and fund transfers. The current F&A process allows you to complete in an excel workbook and submit to them via email OR you can upload the journal entry to UCF Financials (if you are listed as a “JEC” on a DAL–see Department Authorization List for more details).

NOTE: if the transfer includes contract & grant funds you MUST use the excel workbook or send an email request to ashley.hilyer@ucf.edu to process and submit to F & A.

Also note that ALL UCF Cost Transfer Explanation Forms (CTEFs) that require the 90 day signature must be submitted to Ashley Hilyer (ashley.hilyer@ucf.edu) for processing.

Finance & Accounting’s Resources at http://www.financials.ucf.edu/Helpful_Resources/Helpful_Resources.cfm

  • Training
  • Manual
  • Addy Notes

Reimbursement: When reimbursing (or moving charges) you will need to use the same account codes used in the original purchase/charge. For example, if you are going to reimburse another department for office supplies please make sure you use the appropriate office supply account code. Account code can be verified by searching for the expenditure in Datamart (instructions).

Fund Transfer: When transferring funds you will need to use the most appropriate transfer account code which start with 78XXXX.

The “Payroll by Employee” query is available to assist you when having to move salary charges. In order to receive access to this query you must submit the request form and email it to ashley.hilyer@ucf.edu.