How to Create a Journal Entry

Basic Definitions

Journal: A batch of accounting transactions entered online or input from a feeder system (APPO, payroll, etc.) to the General Ledger. It consists of multiple journal lines and one journal header, identified by the journal ID. Information about the journal as a whole is stored in the journal header table. On all journal entries total debits must equal total credits. (Also referred to as a journal entry.)

Journal Line: This is a record storing one line of a double-sided balanced entry for a given journal. The sum of the monetary amounts for the journal lines in one journal totals zero (total debits = total credits).

How to create a journal:
  1. Login to MySlice using your NetID and password
  2. In the Financial Services pagelet click on the Journal Entry link
  3. Click on the Add button from the Create Journal Entry page
    • At year end, this is where the date needs to be changed to reflect the correct fiscal year.
  4. Fill in the Long Description
  5. We recommend the following guidelines:
    • Any identifying tracking numbers should be listed first: e.g., ID#, PO#, REQ#, INV#; etc.
    • Secondly, make a note of what the journal entry is: e.g., software purchase, room rental, November 5th copies; etc.
    • Next, include the vendor name;
    • Lastly, make note as to the purpose of the Journal Entry transaction: e.g., if you are moving or correcting an entry.
    • Please note: More detailed information can be added after this primary information is included in the long description.
  6. Click on the lines tab
  7. Enter your Chartstring(s) in the boxes provided
    • Next to each chartfield note the lookup icon to assist you with locating various chartfield(s).
    • Add line(s) you will need for your transaction by clicking on the add icon (Note: Add multiple lines by entering exact number of lines then click on the add icon).
    • Double check that your debits equal your credits
  8. Once all lines have been added, click on the process button to edit and validate your journal
  9. The journal status must be “V” and the Budget status must be “v”.
    • Status Definitions:
      • V = Valid
      • N = Not checked
      • E = Error
    • Click on the errors tab to determine the errors that exist. These must be fixed and then the journal can be re-edited before the notification process.
  10. Click on the Notify button
    • Refer to the departmental approver procedures to determine who must be notified of the transaction. If you are entering information that is not in your department or area be sure to notify the other department/area about the journal entry you are submitting.
  11. Visit the journal notification page to learn more about the journal notification process.