Skip to main content
 

To: University Business Managers, Campus Unit Finance Leads
From: Yiwen Wang, Enterprise Accounting Manager, Accounting Services

Effective Sept. 1, 2024, campus correcting journals (JCR) workflow and approval requirements will change. This shift is necessary to improve internal controls and the review process of campus journals.

With this change, all JCRs above $1,000 will be routed to Finance after departmental approval. Please be sure the staff recording campus journals follow the appropriate transaction requirements including supporting documentation. The following should be included when preparing and submitting a JCR:

  1. Journal header long description:
    1. Original journal, voucher or deposit ID.
    2. Sufficient details about why (reason), when (transaction date) and what (transaction type) is being corrected.
  2. Supporting documentation:
    1. Document reflecting the original transaction ID and journal lines posted to tAhe general ledger.
      Example: report, screenshot, etc.
    2. Other relevant supporting documents to help explain or support the correcting journal. Example: 90-day justification form (for OSP projects only), JCR for late cost transfers.

Please refer to the Campus Journal Matrix for details regarding correctible transactions.

For accounting questions, please contact accounting@unc.edu. For sponsored project related questions, please contact sponsoredprograms@unc.edu.

Comments are closed.