The Office of University Controller is pleased to offer the 2017 Annual Financial Report.
Types of Financial Transactions
A transaction is the basic unit of input to the PeopleSoft Finance System and consists of:
- The receipt or disbursement of cash or
- Any other financial activity within the University.
Financial Transactions include:
Cash is received and recorded by campus departments and deposited with:
- UCB - Office of Cash Management
- UCD - Bursar's Office
- UCCS - Bursar's Office
Cash is paid out for payroll, purchases of supplies and services, financial aid, and other items as a means of achieving the goals of the University.
All transactions are fed as journals to the Actuals Ledger within the PeopleSoft Finance System. Journal entries are used to do the following:
- Make corrections to previously-recorded transactions
- Record cash transfers
- Enter accruals such as accounts receivable and revenue
- Record allowance for bad debt and bad debt expense
- Expense inventory to cost of goods sold
Types of Journal Entries Include:
- Actual Journal Entries
- Standard Journal Entries
- Cash Transfer Journal Entries
- Payroll Expense Transfers
- Budget Journal Entries
Actual Journal Entries
This type of journal entry is used for one of two purposes:
- To correct an error that occurred in recording an original journal entry to revenue, expense, cash transfer, asset or liability. This type of journal entry is commonly referred to as a correcting JE.
- To adjust a PeopleSoft Finance System balance for purposes other than to correct errors. Examples include:
- Accrue accounts receivable and revenue
- Record allowance for bad debts and related bad debt expense
- Expense inventory to cost of goods sold
- Expense prepaid or deferred expenses.
An actual journal entry should not be used for the following activities:
- To record the sale of goods or services between departments. An Interdepartmental Order and Invoice (IN) or procurement card should be used for this type of activity.
- By departmental personnel to make direct entries to cash accounts (000100-004999) or fund balance accounts (199900-199999). This type of transaction is restricted to the System level of the university.
- To affect the budget in general budget accounts. A budget journal entry should be used for this type of transaction.
Standard Journal Entry
A Standard Journal Entry (SJE) allows the user to perform certain routine monthly financial transactions. A standard journal entry may involve either fixed or prorated amounts. An example of a fixed amount standard journal entry would be when one campus program provides a set amount of financial support, e.g., $100.00 per month, to another campus program. A prorated standard journal entry is referred to as an allocation. An example would be the monthly allocation of funds from a central administration FOPPS (SpeedType) to a number of direct operating FOPPS (SpeedTypes) on a percentage basis. Creating SJEs is a multi-step process. SJEs have several drawbacks and it is generally better to copy a journal and use it to create future-dated journals that can be processed as needed.
Cash Transfer Journal Entries
A Cash Transfer Journal Entry denotes an accounting term that is used to describe a movement of cash from one FOPPS to another FOPPS when no goods and/or services are provided in exchange for the cash. A cash transfer journal entry is typically used to provide financial support for an activity, fund an over-expenditure, or reserve funds for future use. A cash transfer journal entry should not be used to move revenue or expense from one FOPPS to a different FOPPS. Journal Entries involving cash transfers will always use an account within the range 990000-999999.
Payroll Expense Transfers
A Payroll Expense Transfer, (PET), is a dedicated online journal process used to correct a payroll error. The PET process automatically moves the benefits associated with the salary that is being corrected. Most PETs are done in the HR Production system.
Budget Journal Entries
Budget transactions increase or decrease the budget within a FOPPS (SpeedType) to reflect a change in appropriation, an adjustment in revenue or expense projections, a transfer of resources, or the creation of a new program or project.
A Budget Journal Entry (BJE) is used to submit transactions for entering original budgets or doing subsequent budget adjustments in the PeopleSoft Finance System. BJEs are done online, and the budget pages are accessed through the PeopleSoft Finance Production database.
The budget ledger is divided into four additional ledgers:
Use of the INITIAL budget ledgers, B_INI_CONT and B_INI_TEMP, is restricted to authorized staff. At the beginning of each fiscal year, the authorized staff records the initial budget for FOPPS within the General, Auxiliary, and Renewal/Replacement Funds using the appropriate INITIAL ledger.
The CURRENT budget ledgers are available to PeopleSoft Finance System users having the proper security authorization. The CURRENT ledgers are used throughout the fiscal year for making budget adjustments.
General Budget Accounts
- 200000 - Revenue General Budget
- 200100 - Appropriations
- 202000 - Contributions from State
- 205000 - Student Tuition
- 220000 - Student Fees
- 230000 - Investment Revenue
- 235000 - Grants, Contracts and Gifts
- 240000 - Private Gifts, Grants and Contracts
- 250000 - Sales/Services of Educational Activities
- 280000 - Auxiliary Enterprise Revenue
- 310000 - Health Services Revenue
- 315000 - F&A Reimbursements
- 320000 - Rental Income
- 325000 - Miscellaneous Income
- 355000 - Other Fund Additions
- 380000 - Service Center IN Revenue
- 390000 - ID Revenue
- 400000 - Faculty Salaries
- 402200 - Student Faculty Salaries
- 402500 - Officer/Exempt Professional Staff Salaries
- 405000 - Classified Staff Salaries
- 407500 - Student and Other Pay
- 418400 - Faculty Benefits
- 422500 - Officer/Exempt Professional Benefits
- 425000 - Classified Staff Benefits
- 427500 - Student Staff Benefits
- 450100 - Cost of Goods Sold
- 460000 - Operating Expenses
- 480000 - Office Administration
- 482500 - Telecommunications
- 485000 - Postal Costs
- 487500 - Printing, Publication and Duplication
- 490000 - Microform, Photography, Graphic Supplies
- 492500 - Subcontracts
- 495000 - Honoraria, Fellowships, Study Subj, Participant Costs
- 497500 - Motor Vehicle Maintenance and Supplies
- 500000 - Information Technology
- 502500 - Rentals - Buildings, Space, Land
- 507500 - Advertising and Publicity
- 510000 - Dues and Memberships
- 512500 - Subscriptions, Books, Periodicals, and Scores
- 515000 - Physical Plant Maintenance and Repair
- 517500 - Custodial and Laundry
- 520000 - Hospitalization Costs
- 522500 - Food Supplies and Services
- 527500 - Instructional Supplies and Services
- 530000 - Laboratory and Technical Shop
- 532500 - Field Research Expense
- 535000 - Medical Supplies and Services
- 537500 - Equipment - Non Capital
- 540000 - Freight, Moving and Storage
- 542500 - Interest, Royalties and Patents
- 545000 - Insurance
- 547500 - Donations and Community Services
- 550000 - Official Functions
- 552500 - Other Operating Expenses
- 700000 - Travel
- 750000 - Utilities
- 770000 - Student Aid
- 790000 - Books, Periodicals (Library)
- 810000 - Fixed Asset Costs
- 950000 - Facilities and Administrative Costs
- 960000 - General Recharges
- 970000 - Other Deductions
- 990000 - Mandatory Transfers In
- 992000 - Mandatory Transfers Out
- 995000 - Voluntary Transfers In
- 997000 - Voluntary Transfers Out
- General Ledger Processes
Journal Source Request
A three-character field, called a journal source code, identifies all journal entries posted to the PeopleSoft Finance System. Requests to add or modify existing journal source codes involve both offline and online processes. Proposals to add a new journal source code or to modify an existing journal source code involve completing a Journal Source form, securing approval for the change from your campus controller's office, and submitting the request to the Office of University Controller.