Journal Voucher Procedure

What it is:A Journal Voucher is an electronic document that is generated in order to move money from one index to another, usually because a charge was allocated to the wrong index. The Journal Voucher (JV) goes to the accountants who then generate a Journal Entry to finalize the move of money from one account to another.

Procedure:

  • Go to my.unm.edu and log in.
  • Under the “Finance” tab, go into loboweb.
  • Select Journal Voucher Entry
  • The first section to be filled out is “Document Total.” This section wants the total for the document you are creating (journal voucher) and is simply double the original charge (this will make sense once we start entering the requirements for moving the money). So, if the charge you need to move is $100, the document total will be $200.
  • Leave the transaction date as the one that has been populated.
  • Click on the link that says “Document Text.” That will open a window where you can enter a detailed description of the move you are making. Please be sure to include the following:
  • What it is (JV to move money)
  • Why it is (i.e. charge was mistakenly allocated to account…)
  • What the charge is (charge for Society of Hospital Medicine SPARK Certification maintenance
  • For whom the charge was originally placed (for Dr. Kendall Rogers)
  • Include the S# for the PCard charge (found in myreports)
  • Include what account the charge was mistakenly allocated to
  • Describe what account the charge is being moved to and why
  • Click “Save” and close the window.
  • You will need two records for working with each charge. You can do multiple charges on one JV but I like to do them each separate to keep things organized. You can select “Add New Record” to add the needed second line.
  • Sequence and Chart stay the same, change the Rule Class to JE2.
  • In the first record, put the original index the charge was made to (incorrect index)
  • Next, enter the account code the charge was originally assigned to during reallocation
  • The rest will populate until you get to the D/C field. Select “C” for the first charge and this is why:
  • D and C stand for Debit and Credit, respectively. This field tells the accountants whether they need to pull money from or add money to the account you listed in the Index field. If you are putting the incorrect index (what the charge was actually charged to), then you will want to select Credit because you want to credit the account the money that had been taken out. Debit will be explained below.
  • You must add a description. It only allows a certain number of characters. So keep it brief. You should list the vendor the charge was paid to (as seen in myreports) and the S number (for your pcard charge, also found in myreports). These allow the accountants to quickly reference charges. You may need to abbreviate the vendor name as some with longer names won’t fit and it is imperative to include the entire S number.
  • Now, move onto the second record.
  • Input the Rule Class as JE2 again
  • In the Index field, you will enter the number for the index the charge was supposed to go to. If the index was correct all along, and you only needed to change the account code, you would leave the index the same
  • Next, move onto the account code. Here is where you would change the account code if you had originally allocated the charge to the right index but wrong account code. If you allocated the charge to the correct account code but the wrong index, then you would leave the account code the same.
  • The rest populates and you again must select D or C. This time, you will select D because you want to Debit the correct account. This is like using a debit card – you want to take money from the account, so you need to debit the account.
  • The description should be the same as the one on the first record to make sure these two pieces of the transaction correspond.
  • Leave the budget period as the default unless you have been told to do a JV for something outside of the budget period.
  • Click Submit and the page will refresh with a message saying your JV has been processed and it will list a J#. Write down the J#!
  • The J# will be put on your pcard log to reference the complete JV, showing you’ve moved the money around.