These guidelines explain how to accrue revenue 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 per PTA, per line item. Under extenuating circumstances, accruals lower than $50,000 will be approved.
External Revenue
(not applicable to capital projects*) |
Interdepartmental Revenue
(not applicable to service centers) |
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- Prepare a list of the revenues that are not yet recognized in Oracle:
- Create a credit using the proper PTA and revenue code.
- Using the same PTA, create a debit using 11222 for auxiliaries and service centers or 11221 for other departments.
- Utilize iJournals Specialist responsibility (AR Accruals privilege) to create an Accounts Receivable (AR) accrual journal for AUG-2019 by 3 p.m. Sept. 9, 2020.
* Accrual for Capital Projects is performed by Capital Accounting
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- Utilize iJournals Specialist responsibility to create an interdepartmental accrual journal for AUG-2019 by 3 p.m. Sept. 9, 2020:
- Create a credit using a 48xxx revenue code and a debit using a 58xxx expenditure type.
- Coordinate with the department recording expense to confirm the correct amounts and PTAs.
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Refer to How to: Create an Accrual Journal and Policy: Guideline for Accruing Expenses.
