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Journal Vouchers

  1. JVs must be legibly written in ink or processed on a JV template. JVs should be limited to three pages, where possible. The Line Description field permits 20 characters. Use abbreviations when necessary so the description is as complete as possible. Multi-page JVs should have Debit (DR) and Credit (CR) totals on the first (top) page.

  2. Supporting documentation should be stapled to the JV. No JVs will be approved without such documentation.

  3. Someone other than the preparer must review all JVs. The following are authorized to sign off as final reviewers:
    • Controller
    • Associate Controller
    • Assistant Controller
    • Accounting Manager
  4. The JV document number should be entered on BOTH on the JV log and the JV itself.

  5. Suspended Items
    When a voucher is processed in the Financial Records System (FRS) the six position account number and the four position Sub Ledger sub code or General Ledger account control is verified to a list of valid values. If the account sub code/account control combination is not valid the transaction will “suspend” in FRS by being posted to the FRS suspense account 0130001600 Suspense General – Suspense. FRS assigns a suspense number to each suspended item and reports the voucher number, batch, date and error message why the transaction suspended. This creates a detailed inventory of suspended items supporting the ledger balance. The current suspended transactions are reported on the FRS daily transaction report FDB010.PRT on the last page titled “Error Listing Errors Requiring Corrective Action”. The inventory of all year to date and unresolved suspended transactions is reported on the daily FRS report FBD016.PRT where each suspended item has an associated suspense number. Personnel in Accounting review the daily reports for suspended items with the intent to clear them to a final account. Monthly the detail inventory of individual suspended items is verified to the suspense account in the General Ledger. Daily suspended items are reviewed and referred to the person who created the transaction for review and correction. In certain instances, accounts are referred to assigned personnel for corrections. The OMEGA and STAPLES suspended items would be referred to the Account Payable Manager as an example. Corrections are made in Accounting through the FRS system (screen 17) by indicating the correct account for the transaction. This clears the suspense account and removes the suspense item from the FRS inventory of suspended items. The disposition of the cleared transactions is shown each day on the FBD016.PRT report. If the voucher was a paper voucher a notation of the suspended item and the corrective action is made on the paper voucher and returned to the voucher files.

  6. Clerks should Return any JVs missing an authorized reviewer’s signature to the General Accounting Manager.