Journal Vouchers - Required information in Document Text
All Journal Vouchers (created in Banner form FGAJVCQ, FGAJVCD, or FGAJVCM) must include sufficient documentation describing why the entry is being submitted. JVs should not be submitted as a routine course of business. Sufficient care should be taken upon the processing of original transactions to minimize the need for JVs.
There are 2 important reasons why documentation must be included:
- To give approvers the necessary information to approve the JV. Without sufficient information, the JV may need to be disapproved.
- After an entry has been approved and posted, there are often times in the future when it will need to be reviewed, including by auditors. If the reason for the JV is adequately documented in the system, there will be fewer questions.
The “Description” field in the “Transaction Detail” block of the JV form does not allow enough space for an adequate explanation. This is a required field, and should include a summary description of the JV. However, in addition to this, the “Document Text” field must be completed for all JVs.
The Document Text field is accessed from the Header block of the JV form. After entering your Document Total, select “Document Text” from the “Options” menu.
The information included in Document Text should include the following for all JVs:
- WHY: the JV is necessary. Please explain what happened or hasn’t happened to cause the need for the JV.
- WHAT: is being corrected. Please note the Banner reference number and original transaction date of what is being corrected (if applicable). This could be another JV (Jxxxxxxx), an invoice (Ixxxxxxx), a p-card transaction (Sxxxxxxx), etc.
- WHO: is requesting that the JV be processed. This is necessary in the event questions are asked in the future. ALSO: include the name and phone number of the person submitting the JV.
- HOW: might this be prevented in the future.
In addition, the Cost Transfer policy (2450) has specific requirements for reallocation of direct charges to, from and between federally sponsored awards projects. Please refer to this policy when appropriate.
Since there is no requirement to submit “hard copy” documentation with JVs, the information entered into Banner must be sufficient to substantiate the need for the JV. The necessary documentation for JVs should be kept on file in the initiating department. Also keep in mind that central accounting offices may require additional documentation if deemed necessary.