Account Adjustments

Account adjustments ("AJs"), sometimes referred to as journal entries, are used to correct intra-university transactions.  Examples of corrections are: an expense was charged to an incorrect account, and an expense resulted in an account being overdrawn.  Both of these examples would require an account adjustment.

The Online Journal Entries system is accessed by logging into Finance Central.  The online system is the preferred tool for submitting AJs.  Built-in business rules enable quick approval and posting of the entries. 

Paper AJs

Certain system limitations may require a paper AJ, for example: correcting charges to GL object codes, correcting entries for revenue SL object codes-such as used in recharge centers.

If the AJ involves a sponsored research account (ledger 4 or 5), the AJ form should be sent to OSR, CB 1350.  All other AJs should be sent to Accounting Services, CB 1210.

* Important Note

AJs are for correction of non-personnel transactions only.  Personnel transactions, which are retroactive, are recorded on the Personnel Funding Form in HRIS or via a retro entry in EPAWeb.  Also note that AJs are not appropriate for transactions coded 50 (encumbrances) or transactions coded 20 (budget revisions).

To access the training presentation "Account Adjustments - The How and Why" as presented by Patsy Oliver on 5/25/05 click here. This presentation provides guidance on completing account adjustments with specific examples illustrated.