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Journal Entry Transfer (JET) Training November 2013

Journal Entry Transfer (JET) Training November 2013. Presented by: CI Finance Team. CI Finance Team - Presenters. Phyllis Vicker Senior Staff Accountant - Treasury Jennifer Schweisinger Accounting Supervisor. What is a JET?. Form that takes the place of the “Chartfield Change Form”

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Journal Entry Transfer (JET) Training November 2013

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  1. Journal Entry Transfer (JET)TrainingNovember 2013 Presented by: CI Finance Team

  2. CI Finance Team - Presenters • Phyllis Vicker • Senior Staff Accountant - Treasury • Jennifer Schweisinger • Accounting Supervisor

  3. What is a JET? • Form that takes the place of the “Chartfield Change Form” • Corrects GL (general ledger) entries • Corrects A/P (accounts payable) entries • Used to change an account, fund, department, program, class, or project

  4. OLD – Chartfield Change Form

  5. NEW - JET Form

  6. Examples of Use • Correct errors from the Data Warehouse • Correct errors on ProCard statements • Submit Chargeback requests between campus departments: • Phone, postage, TPS events, OPC work orders, OPC utilities, fuel, Pharos

  7. Accounting 101 • Normal ending balances: • Expense accounts = debits (+) • Revenue accounts = credits (-)

  8. Accounting 101 • Equate this to your own ‘bank statement’ • Money spent shown as a debit (+) • i.e. your ‘debit card’ • Deposits shown as a credit (-)

  9. Accounting 101 • If there is a debit (+), there must be an offsetting credit (-) • Balance must equal zero!

  10. Accounting 101 • Example from the Data Warehouse Debit (+) Debit (+) = Expense Original Entry

  11. Accounting 101 • Example from the Data Warehouse Original Entry Debit (+) To Correct Original Entry Credit (-)

  12. Accounting 101 • Example from the Data Warehouse Final Entry Move expense to correct Dept

  13. Accounting 101 • Example from a ProCard Statement Debit (+) Debit (+) = Expense Original Entry

  14. Accounting 101 • Example from a ProCard Statement Original Entry Debit (+) To Correct Original Entry Credit (-)

  15. Accounting 101 • Example from a ProCard Statement Final Entry Move expense to correct Account

  16. How to fill out the JET Form Must “Enable Macros”

  17. How to fill out the JET Form Click for instructions

  18. How to fill out the JET Form Date defaults to today’s date Change if necessary

  19. How to fill out the JET Form "Transfer From" and "Transfer To" entity should always be the same business unit

  20. How to fill out the JET Form Enter your contact information

  21. How to fill out the JET Form Enter the subject -- will appear on Data Warehouse Reports

  22. How to fill out the JET Form For internal use only

  23. How to fill out the JET Form If a “Construction Fund” click check box Email will be sent to A/P for processing

  24. How to fill out the JET Form Enter your changes here! Remember Accounting 101?

  25. How to fill out the JET Form Total must equal zero

  26. How to fill out the JET Form Maximum 30 characters -- will appear on Data Warehouse Reports

  27. How to fill out the JET Form Need more than 30 lines -- click “Show/Hide Page 2”

  28. How to fill out the JET Form Click “Email/Submit Form” Does not submit JET yet, must save and then create an Outlook email

  29. How to fill out the JET Form Save a copy for your files and for submission Save as .xlsm

  30. How to fill out the JET Form Click on the email on the Taskbar Creates an email, addressed to CIJet@csuci.edu

  31. How to fill out the JET Form • Email “To” is CIJet@csuci.edu • JET is attached • Don’t forget to attach backup! • Hit “Send”

  32. JET vs. RET JET is a transfer between the same entity

  33. JET vs. RET RET is a transfer between different entities

  34. Acceptable Types of Back-Up • Copy of report from the Data Warehouse

  35. Acceptable Types of Back-Up • Copy of ProCard Statement

  36. Where can we find the JET form? • CI Accounting website • Under “Forms”

  37. Important Information • Approval signature(s) not needed • If moving expenses that are older than 90- days, please attach a scanned copy of the “Expense Transfer Adjustment Form” • JET Form functionality will not work on • Apple computers • If you access email through Webmail • Contact Jennifer Schweisinger (x3510) for a work-around

  38. Submission Information • Jet Form is due the 25thof each month • Changes will appear in the following months financial statements (Data Warehouse) • JET Form and back-up must be submitted electronically…no paper copies • JET Form and back-up must be submitted to the following email address: • CIJET@csuci.edu

  39. Questions? • Phyllis Vicker • Senior Staff Accountant – Treasury • phyllis.vicker@csuci.edu • X 8578 • Jennifer Schweisinger • Accounting Supervisor • jennifer.schweisinger@csuci.edu • X 3510

  40. Example #1 – From Data Warehouse Need to correct this entry

  41. Example #2 – From ProCard Statement Need to correct this entry

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