Budget Adjustment Journals (Source Codes 135, 136, 137 & 138)

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1 This document outlines the purpose and process for preparing budget entries, which facilitate financial reporting and compliance management for sponsored research. Purpose of Budget Adjustment Journals Contracts & Grants Accounting (CGA) records budgets for sponsored research based on the approved budget in the award agreement, except for clinical trials which are recorded based on actual receipts. Description Spon Proj Bud (Dept) Spon Proj Bud (CGA) Spon Proj Bud Carryforward (CGA) Spon Proj Bud Other (CGA) Source Code Use Used by departments to reallocate the sponsored award expense budget between: Expense Accounts within the same Project and Activity Period (e.g., to identify a greater level of expense detail than the sponsor approved category, or to move budget within the expanded authorities) Dept IDs within the same Project and same Activity Period (Only CGA can set up and reallocate revenue) Projects on the same award within the same Project Activity Period Rules and restrictions: Budget Adjustment Journals can only be used with Funds 1810 and 4000 through 4400 Budget entries must have a $0.00 balance at the award/activity Period level Budget journals should NOT be used to reallocate: From one award and Project to another award and Project Between different Project Activity Periods on the same award (Only CGA can process Carryforward Budget Journals-Source Code 137) Additional sponsored funding generated by STIP, exchange rate increases/decreases, stock gains/losses and other miscellaneous adjustments (Only CGA can process Other Budget Journals- Source Code 138) Used by CGA only to record the initial award budget The initial award budget is set up by CGA on the primary project as a debit to revenue and a credit to direct cost Account and F&A Account If the sponsor requires invoicing or financial reporting at a more detailed budget level, CGA assigns the attribute LN_ITEM_BUD to the award and will make a second Source Code 136 budget adjustment to reallocate the expense budget from Account to the appropriate detailed expense Accounts identified in the approved sponsor budget Used by CGA only to record carry-forward adjustments between award budget periods/ RAS activity periods Used by CGA only to record the additional sponsored funding generated by STIP, exchange rate increases/decreases, stock gains/losses, and other miscellaneous adjustments Revised March 28, 2017 Contracts & Grants Accounting Job Aid Page 1 of 5

2 Logging into PeopleSoft and Beginning a New Journal Log on to MyAccess at (not shown). Scroll down to locate and select PeopleSoft from the applications menu. If you do not see PeopleSoft, select the Manage Favorites button and select PeopleSoft. Click on Main Menu > General Ledger > Journals > Journal Entry > Create/Update Journal Entries The Create/Update Journal Entries component displays: Enter the correct Business Unit - SFCMP for Campus (defaults to the Business Unit set in your PeopleSoft System Profile) Enter a Journal ID using the UCSF preferred xxabcxxxx format, where: xx = the fiscal period of the journal ABC = your specific 3-character Journal Preparer ID xxxx = a sequential numbering scheme of your choosing Overwriting the default of NEXT allows you to locate your entered journals on the Find an Existing Value tab. Using this preferred method, you can easily change the Journal ID search to contains ABC and quickly find any journal you have created. For additional information, see the Journal IDs quick reference guide. Enter the correct Journal Date (defaults to current) During the first five (5) business days of a month, you may enter dates in the previous month. Make sure to allow time for journal approval, ensuring the journal posts before month-end close. You may enter a date in a future period and save your journal, but you cannot edit or submit it until the period of the selected date opens. Click the Add button. After navigating to components you frequently use, save them to your Favorites to make recalling them a breeze: 1. Click Favorites 2. Click Add to Favorites 3. Give the favorite a Description, 4. Click OK To recall a saved Favorite: 1. Click Favorites 2. Click the name of the favorite you want to open Page 2 of 5 Contracts & Grants Accounting Job Aid Revised March 28, 2017

3 Preparing a Budget Adjustment Journal Header Tab On the Header tab, enter the following information: Long Description (required) enter a description that adequately describes the purpose of the journal Ledger Group select BUDGETS Source enter 135 Reference (optional) 8-character field Attach all supporting documentation that corroborates the journal, which may include: MyReports, or financial reports from another subsystem, showing the original appropriation Excel worksheet that shows the budget allocation to various projects and/or accounts Click the Attachments (x) link in the journal header (x = the number of attachments that have been uploaded to this journal) Click the Add Attachment button from the Journal Entry Attachments pop-up Click the Choose File or Browse button (depending on browser configuration) from the File Attachment pop-up (Not shown) Browse for the file you want to attach, select it, and click the Open button Click the Upload button on the File Attachment pop-up Enter a Description of the uploaded document (optional) Repeat steps 2-5 for all other files to be attached, then Click OK when done to return to the journal entry screen Net Position Report Proj Revised March 28, 2017 Contracts & Grants Accounting Job Aid Page 3 of 5

4 Budget Adjustment Journal Lines Tab Click on the Lines tab to enter the financial information on the journal: DEBIT (+): A debit (+) decreases an expense budget on the primary project of an award. CREDIT (-): A credit (-) increases an expense budget for another project on the same award For both debit(s) and credit(s), enter the appropriate amounts and chartstrings for each line: Business Unit / Account / Fund / Dept ID / Project / Act Period / Function / Flexfield. Reminder: do not reallocate revenue. To add more lines, enter the number in the Lines to add field and click the icon. Scroll over to the far right of the screen, where you can enter an optional Reference and Journal Line Description (30-character) on each line of the journal to record specific details about the transaction. These descriptions are displayed on the Transaction Detail Report for the Project Dept ID. After entering all lines, Total Debits must equal Total Credits and the Journal Status should be N (not edited). If not, the mismatch must be corrected. Save the journal before moving on to the next step. Edit and Submit a Budget Adjustment Journal; Review Approval Status The Edit Journal process must be run prior to submitting any journal, and ensures that: All chartfield combinations are valid The journal date is in an open period Total Debits equal Total Credits See Edit Journal screenshot on next page for reference to Steps below: Click the Process drop-down menu and select Edit Journal Click the Process button and wait until the edit process completes If there are errors, the Journal Status will display E and the lines in error will be marked with an X If you have an error status but no lines are marked in error, this is most likely because Total Debits do not equal Total Credits, or because the Journal Date is in a closed period. For lines marked with X, go to the Errors tab to review the error description. Refer to the Combo Edit Quick Reference Guide for more information regarding valid chartfield combinations. When the errors are corrected, click the Save button and re-run the Edit Journal process Page 4 of 5 Contracts & Grants Accounting Job Aid Revised March 28, 2017

5 If the Edit Process is successful and there are no errors, Journal Status is set to V (Valid). Change the Process drop-down menu to Submit Journal and click the Process button. Click on the Approval tab to view the Approval Status and list of approvers. The journal will be in the first approver s worklist until action is taken. Click the Notify button at the bottom of the page if you wish to notify the Approver via . Return to the Approval tab at any time in the journal cycle to see the current step of the approval process. When the journal has been approved and posted, the Journal Status will display P. For more Contracts and Grants Accounting Training & Job Aids, see the Controller s Office website. Revised March 28, 2017 Contracts & Grants Accounting Job Aid Page 5 of 5