JVs at Oregon State University

1. JVs at Oregon State University How are JVs used at OSU?

2. JVs at Oregon State University • This presentation provides information about: • Basic JV Guidelines • The Purposes of a JV • JV Types, and • Finding JV Information in Banner

3. Basic JV Guidelines • Debits must always equal Credits • Create Debit records first and Credit records last • The Document (aggregate) Total serves as a checksum • Rule Codes tell the system the purpose and type of the JV: • Transactions that do not involve restricted funds use rule code 3JV1 • Transactions involving restricted funds like grants, contracts, gifts, and foundation use rule code 3GNT

4. Basic JV Guidelines (continued) • FOAPAL use is determined by the ledger level: • GL transactions – use Fund and Account only • OL transactions – always use Index and Account • Text is required to identify JV purpose and input person’s name and phone number • The Description Line (not the text) displays in the Data Warehouse • A Document Reference # is required for corrections and/or redistributions

5. The Purposes of a JV • There are four main purposes for a JV: • Process Internal Transactions • Correct previously processed transactions • Redistribution of charges • Apply Revenue and Internal OSU Charges

6. The Purposes of a JV (continued) • Process Internal Transactions • Accruals and reversals • Inventory Adjustments • Correct previously processed transactions • Index, Account Code, Activity code corrections • Banner source document corrections for processed: • Invoices • Cash Receipts • Automated JV’s

7. The Purposes of a JV (continued) • Redistribution of charges • VISA Procurement card charges to expense • Expenses paid by one index for multiple indexes • Apply Revenue and Internal OSU Charges • Billings from Service Centers, Auxiliaries, and Designated Operations to Departments • Charging other departments for services provided (i.e. copy charges)

8. JV Types • JV types identify the kinds of accounts affected and the institutional scope of the transaction. • There are three primary types of JVs created by user data entry: • OSU only departmental JV • Institutional / Departmental Budget JV • Inter-Institutional JV

9. JV Types (continued) • OSU only JV • Department generated • Approval by Departmental authority • Final approval from Business Affairs • Budget JV • Used to transfer budget items • Initiated by OSU College, Budget Office, or OPAA • Inter-Institutional JV • Submitted by Dept on paper form • Processed via Accounts Payable

10. Finding JV Information in Banner • Some of the forms that assist in the JV process: • FGIJVCD Checking JV Completion Status • FGIDOCR Viewing an Approved JV • FOIAPPH Viewing JV Approval History/Status • FOATEXT Text Viewing/Editing • FWRJVLR Print a JV

11. END Journal Vouchers at Oregon State University