linear_scale How To

Create an Accrual Journal

  • iJournals Specialist users with Accrual Responsibility for Accounts Payable (AP) journals can generate accrual journals to recognize expenses that have been incurred in one reporting period but the invoice has not been fully matched in that period. 
  • iJournals Specialist users with Accrual Responsibility for Accounts Receivable (AR) journals can generate accrual journals to recognize revenue that has been earned in one reporting period but the related cash amounts have not been received.
  • The accrual journal can be scheduled to automatically reverse itself in a future designated period.

Create Accounts Payable (AP) Accrual Journal

  1. Enter ofweb.stanford.edu in the browser
  2. Select Login
  3. As prompted, log in using SUNet ID and password

  1. Select SU iJournals Specialist 
  2. Select AP Accrual Journal from the iJournals Home page

  1. Read Authorization Information
  2. Select Next
     

  1. Verify Journal Type is displayed as AP Accrual
  2. Select Accrual Period for correct month
  3. If applicable, select Reversal Period
    • Reversal Period will automatically default to the next open period unless Accrual Period = AUG-20XX. You may change the default to any future month by selecting the desired month from the drop-down menu.
    • Effective Accrual Date will be populated during the Validation step.
  4. Enter Title for the journal
  5. Enter Justification explaining the purpose of the journal
    • The justification must answer the five Ws (who, what, when, where and why).
    • Select Justification in the form for more information on business purpose requirements and samples.

  1. Enter Project, Task and Fund/Awd. (PTA) in line 10
  2. Enter Exp. Type 5xxxx or Object Code 21300
  3. Enter Exp. Date (use date transaction took place: DD-MMM-YY)
  4. Enter Dept. Ref (optional)
  5. Enter Debit or Credit (only one per line)
  6. Enter Description for line 10
  7. Add additional journal lines as desired
  8. Select Next when finished to complete data entry

  1. Select Previous to return to Creation page and correct any errors
  2. Select Next to validate again
  3. Select Next when journal is valid and saved

Depending on the journal form type, approvers are selected based on PTAs debited or credited. All Accounts Payable Accrual journals will be routed to AP ENDROUTE for approval.

Originator Without Approval/Sufficient Authority

There must be a designated approver with sufficient approval authority. System-generated approver(s) will suffice.

  1. Add or change Approver Name(s) as appropriate
    • You may not modify end-route designations.
    • If you update a system-generated approver(s) and then visit a previous page, your updates will be retained; however, due to system validation rules, the system-generated approver(s) will automatically be added when you return to this screen.
  2. Add FYI recipients as desired
  3. Re-sequence approvers as desired
    • Originators may sequence approvers as desired by overriding the assigned sequence number (duplicate numbers are not allowed, sequence numbers must be unique). Once the journal is fully approved, the completed workflow notification will be sent to the originator.
  4. Select Attachments button to add an attachment
    • The Upload Attachments page will launch in a new browser window
  5. Select Next when routing list entries are complete

 

Originator with Sufficient Approval Authority

Journals totaling $10,000 or more require an approver. The originator must select their manager, a peer in another department or a Central Office staff member as an approver.

  1. Add or change Approver Name(s) as appropriate
    • You may not modify end-route designations.
    • If you update a system-generated approver(s) and then visit a previous page, your updates will be retained; however, due to system validation rules, the system-generated approver(s) will automatically be added when you return to this screen.
  2. Add FYI recipients as desired
  3. Re-sequence approvers as desired
    • Originators may sequence approvers as desired by overriding the assigned sequence number (duplicate numbers are not allowed; sequence numbers must be unique). Once the journal is fully approved, the completed workflow notification will be sent to the originator.
  4. Select Attachments to add an attachment
    • The Upload Attachments page will launch in a new browser window
  5. Select Next when routing list entries are complete 

 

  1. Verify the entire journal on Submit screen
  2. Select Previous to return to any page that needs updating

    If you return to either the Creation or Validation screen, any updates you made to approvers will be retained; however, due to system validation rules, the system-generated approver(s) will automatically be added when you return to the Routinglist screen.

  3. Select Next to return to Submit screen
  4. Select Submit to send journal to first approver

  1. Select Journal Number in Submit Journal page
  2. Select Printer Friendly (pdf) in Journal Display
  3. Select Print in Adobe window to print journal (not Print button in browser window)
  4. Select Back in Browser window to return to Journal Display

  1. Click Return to Portal
  2. Click Logout

After the accrual journal has been fully approved, the accrual and reversal journals will be present in the Journals at a Glance section of the Home page. If a journal is not displayed in the Journals at a Glance section, you may need to perform a search in the Public Inquiry tab.

  1. From the iJournals Home page, select Public Inquiry tab
  2. Search for the reversal journal to validate
  3. In the Results section, select the Select radio button for the journal number
  4. Select Select to access Journal Display page
  5. Validate that entries in the following fields are correct:
    • Number: ij<unique journal number>
    • Journal Type: AP Accrual Reversal
    • Title: "REVERSES ij<accrual journal number>" with original accrual description
    • Debit Total: The amount must match the accrual journal
    • Status: Approved

Refer to How to: Search and Edit an Accrual Reversal Journal.

What Happens Next?
  • The journal is routed, in sequence, to the approvers and any FYI recipients on the routing list.
  • In the workflow notification, the approver(s) will be notified that the accrual journal being approved will automatically reverse in the reversal period entered in the accrual journal.
    • By approving the journal, the approver is also approving the reversal journal.
  • After the final approval, the iJournals system validates the journal a final time to ensure nothing has changed (e.g., PTA segment closed) since the transaction was submitted.
  • If the journal is valid, it will post to the General Ledger. If it is not valid, the system rejects the journal and sends a notice to the originator, with copies to approvers and/or FYI recipients. The originator must update the journal and resubmit.
  • If an accrual journal is rejected by the system, the reversal journal will not automatically create. Reversal journals are generated only when the accrual journal is fully approved and valid.
  • Only current period journals will get posted to the General Ledger. If the journal's accrual/reversal period is in a future month, the journal will be posted when that period opens.
  • Journal originators are responsible for monitoring the approval status of their journals. Journals must be completely approved, including end-routes, by the cut-off date each month to be included in the month's activities. Refer to Topic Overview: Month-End Close and refer to Month-End Close Deadlines.
  • At the end of each month, the Systems and Reporting Operations (S&RO) group will change the period of any unapproved journals in the system to the following month (e.g., the period for any November journals not approved by the cut-off will automatically be changed to December). An unapproved journal will remain active in the system until it is fully approved.

Create Accounts Receivable (AR) Accrual Journal

  1. Enter ofweb.stanford.edu in the browser
  2. Select Login
  3. As prompted, log in using SUNet ID and password

  1. Select SU iJournals Specialist 
  2. Select AR Accrual Journal from the iJournals Home page

  1. Read Authorization Information
  2. Select Next
     

  1. Verify Journal Type is displayed as AR Accrual
  2. Select Accrual Period for correct month
  3. Select Reversal Period for correct month
    Effective Accrual Date will be populated during the Validation step. The Effective Accrual Date will be set to the last day of the Accrual Period.
  4. Enter Title for the journal
  5. Enter Justification explaining the purpose of the journal
    Select Justification for more information on requirements and samples.

  1. Enter Project, Task and Fund/Awd. (PTA) in line 10
  2. Enter Exp. Type
  3. Enter Exp. Date (use date transaction took place: DD-MMM-YY)
  4. Enter Dept. Ref (optional)
  5. Enter Debit or Credit (only one per line)
  6. Enter Description for line 10
  7. Add additional journal lines as desired

    The total of all debits and all credits must be equal.

  8. Select Next to complete data entry

  1. Select Previous to return to Creation page and correct any errors
  2. Select Next to validate again
  3. Select Next when journal is valid and saved

Depending on the journal form type, approvers are selected based on either PTAs debited or credited.

Originator Without Approval/Sufficient Authority

There must be a designated approver with sufficient approval authority. System-generated approver(s) will suffice.

  1. Add or change Approver Name(s) as appropriate
    • You may not modify end-route designations.
    • If you update a system-generated approver(s) and then visit a previous page, your updates will be retained; however, due to system validation rules, the system-generated approver(s) will automatically be added when you return to this screen.
  2. Add FYI recipients as desired
  3. Re-sequence approvers as desired
    • Originators may sequence approvers as desired by overriding the assigned sequence number (duplicate numbers are not allowed, sequence numbers must be unique). Once the journal is fully approved, the completed workflow notification will be sent to the originator.
  4. Select Attachments button to add an attachment
    • The Upload Attachments page will launch in a new browser window
  5. Select Next when routing list entries are complete

 

Originator with Sufficient Approval Authority

Journals totaling $10,000 or more that do not automatically end-route require an approver. The originator must select an approver per the Financial Transaction Approval.

  1. Add or change Approver Name(s) as appropriate
    • You may not modify end-route designations.
    • If you update a system-generated approver(s) and then visit a previous page, your updates will be retained; however, due to system validation rules, the system-generated approver(s) will automatically be added when you return to this screen.
  2. Add FYI recipients as desired
  3. Re-sequence approvers as desired
    • Originators may sequence approvers as desired by overriding the assigned sequence number (duplicate numbers are not allowed; sequence numbers must be unique). Once the journal is fully approved, the completed workflow notification will be sent to the originator.
  4. Select Attachments to add an attachment
    • The Upload Attachments page will launch in a new browser window
  5. Select Next when routing list entries are complete 

  1. Verify the entire journal on Submit screen
  2. Select Previous to return to any page that needs updating

    If you return to either the Creation or Validation screen, any updates you made to approvers will be retained; however, due to system validation rules, the system-generated approver(s) will automatically be added when you return to the Routinglist screen.

  3. Select Next to return to Submit screen
  4. Select Submit to send journal to first approver

  1. Select Journal Number in Submit Journal page
  2. Select Printer Friendly (pdf) in Journal Display
  3. Select Print in Adobe window to print journal (not Print button in browser window)
  4. Select Back in Browser window to return to Journal Display

  1. Click Return to Portal
  2. Click Logout

After the accrual journal has been fully approved, the accrual and reversal journals will be present in the Journals at a Glance section of the Home page. If a journal is not displayed in the Journals at a Glance section, you may need to perform a search in the Public Inquiry tab.

  1. From the iJournals Home page, select Public Inquiry tab
  2. Search for the reversal journal to validate
  3. In the Results section, select the Select radio button for the journal number
  4. Select Select to access Journal Display page
  5. Validate that entries in the following fields are correct:
    • Number: ij<unique journal number>
    • Journal Type: AP Accrual Reversal
    • Title: "REVERSES ij<accrual journal number>" with original accrual description
    • Debit Total: The amount must match the accrual journal
    • Status: Approved

Refer to How to: Search and Edit an Accrual Reversal Journal.

What Happens Next?
  • The journal is routed, in sequence, to the approvers and any FYI recipients on the routing list.
  • In the workflow notification, the approver(s) will be notified that the accrual journal being approved will automatically reverse in the reversal period entered in the accrual journal.
    • By approving the journal, the approver is also approving the reversal journal.
  • After the final approval, the iJournals system validates the journal a final time to ensure nothing has changed (e.g., PTA segment closed) since the transaction was submitted.
  • If the journal is valid, it will post to the General Ledger. If it is not valid, the system rejects the journal and sends a notice to the originator, with copies to approvers and/or FYI recipients. The originator must update the journal and resubmit.
  • If an accrual journal is rejected by the system, the reversal journal will not automatically create. Reversal journals are generated only when the accrual journal is fully approved and valid.
  • Only current period journals will get posted to the General Ledger. If the journal's accrual/reversal period is in a future month, the journal will be posted when that period opens.
  • Journal originators are responsible for monitoring the approval status of their journals. Journals must be completely approved, including end-routes, by the cut-off date each month to be included in the month's activities. Refer to Topic Overview: Month-End Close and refer to Month-End Close Deadlines.
  • At the end of each month, the Systems and Reporting Operations (S&RO) group will change the period of any unapproved journals in the system to the following month (e.g., the period for any November journals not approved by the cut-off will automatically be changed to December). An unapproved journal will remain active in the system until it is fully approved.
Last Updated: Mar 18, 2024
Submit feedback about this page

Questions?

S&RO (Systems and Reporting Operations)
Email
arrow_upward
Back to Top