These guidelines explain how to accrue expenses that should be recognized in the current fiscal period but will not be recorded in Oracle by the end of the fiscal period.

The minimum threshold is $50,000. Under extenuating circumstances, accruals lower than $50,000 will be approved.

External Expenses
(not applicable to capital projects*)
Interdepartmental Expenses
(not applicable to service centers)
  • Prepare a list of the expenses that are not yet recorded in Oracle AP:
    • Create a debit using the proper PTA and expenditure type.
    • Using the same PTA, create a credit (offset) using object code 21300.
  • Utilize iJournals Specialist responsibility (AP Accruals privilege) to create an Accounts Payable (AP) accrual journal for AUG-2020 by 3 p.m. Sept. 9, 2020.

* Accrual for Capital Projects is performed by Capital Accounting 

  • Utilize iJournals Specialist responsibility to create an interdepartmental accrual journal for AUG-2020 by 3 p.m. Sept. 9, 2020:
    • Create a debit using a 58xxx expenditure type and a credit using a 48xxx revenue code.
  • Coordinate with the department recording revenue to confirm the correct amounts and PTAs.


Refer to How to: Create an Accrual Journal and Policy: Guideline for Accruing Revenue.

Questions?

General Expense Accruals - Nini Cruz
Capital Project Expense Accruals - Ronald Yu
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