Journals

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Overview and Resources

Documentation

Journal Types

Workflow and Journal Status

Wasabi Features

Exercises and Reports

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Reallocating money from one 33-digit chart of account combination

to another or to several accounts

For Example: ◦ Correction or Adjustment

◦ Moving expenses from one funding source to another

◦ Account for the sale of goods or services

◦ Transfer funds

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Must meet “re-performance standard”

Any person can recreate the journal entry using the supporting documentation.

Use Wasabi entries to meet this standard ◦ General description field

◦ Journal notes field

◦ Journal line detail

Keep electronic or paper copy on file for 3 years (or longer, if sponsored guidelines require it.)

HSPH Policy on Journal Entry Review

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If you need to add supplemental documents, use the View/Attach Image feature: Select G/L radio button

Select Batch ID from picklist

Browse to upload file – or –

View document that was previously uploaded

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Create Journal

Transmit/Proof

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Resources for Journals: OFS iSite/Journals and Policies Wasabi Manual/Journals HLCRA - Harvard Longwood Campus Research Administration H.U. Office of the Controller

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Y=Accepted by G/L

V=to be Verified

A-Accepted to HDW

Y V

E

X

H/W

A

E=Entered

X=Transmitted

H=Hold

W=Released from Hold

Journal “feed” to Central is every ½ hour Journal Status Descriptions

Wasabi Central-G/L Harvard Data Warehouse

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Equipment

Cost Sharing

Journal Types

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I just transmitted a payroll cost sharing journal for a biweekly employee and I need to delete it. What should I do?

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ListTransactionsTransaction Types

Call the “Hold Reviewer” contact to reject the journal.

What transaction type do I use if I’m transferring between funds using object 8921?

I need to do a journal to object 6440. What journal type should I use?

Transaction type 85

Transaction Type 52

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Open Period = Current Month + 2 or 3 days into next month

*Use iCalendar to keep track of monthly G/L Blackout Dates

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When charging to an Tub/Org outside of your own Org (Dataset)

1. Obtain other unit’s account string

2. Go to AccountsAccount Maintenance 3. Enter the account string and a title 4. Change status to “Current” 5. Select “Request Access”

Check Journal box

Leave default approver or select someone else

Select an expiration date (default is 2 weeks)

6. Select “Save” (Important!)

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Understanding Access Requests

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Correcting Journal

In SAFSDEMO

Request Access to another Org’s account

Save journal (will use in a later exercise)

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Spending beyond the amount funded by the federal sponsor as defined by the award.

◦ Companion account--non-sponsored fund/sponsored activity combination – “no-no” in Wasabi

Use a cost sharing journal type when the coding results in a non-

sponsored fund and a sponsored activity:

Journal type 92 – Monthly (Faculty) payroll

Journal type 93 – Biweekly (Admin & Profess /Support Staff) payroll

Journal type 14 – Weekly (Temporary)payroll

Journal type 64 – non-payroll journal

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FAQs on Cost Sharing Journals Item b. HLCRA Website/Financial Policies

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Journal Type 52 – Fee/Stipend Grants ◦ Objects 6410 and 6440

◦ Goes on hold with Student Services

Journal Type 95 – Scholarships (6430) ◦ Goes on hold with Student Services.

◦ Method to notify student services that funds need to be transferred

◦ They will transfer funds outside of the journal process

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Transferring an expense that was previously

recorded elsewhere in the General Ledger to a

federally sponsored account.

Examples:

Transfer pre-award costs from holding account

Correct clerical error

Reallocate salary and fringe to reflect actual effort

Reallocate shared services that were charged elsewhere

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Wasabi Online Manual-Cost Transfers HLCRA Website/Financial Policies OSP Cost Transfer Policy Website

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Is the debit amount over $500?

Is the effective date and original transaction date in a different year or month

Is the journal between the same fund/activity?

Do the subactivities have different budget periods (start/end dates)?

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When approval from OSP is received or you need to override the CT prompts:

1. Bring up the journal in Wasabi.

2. Save it and answer “yes” to CT prompt

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Must have appropriate security rights. Department approver or Sr. Financial Administrators have these rights.

3. Enter date of OSP approval (today’s date for an override) 4. Save the journal 5. Go to Transmit/Proof and transmit journal.

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By payroll type ◦ Weekly (Temporary)

◦ Biweekly (Admin & Profess./Support Staff) ◦ Monthly (Faculty)

All fringe adjustments controlled by Central

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Required when an error is corrected after the payroll cycle and the employee’s funding has changed Only objects 6050/6052 and 6070/6072

Debit and Credit must result in net of zero

Cannot debit or credit fringe objects

Cannot debit or credit payroll reimbursement objects

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OFS/iSite/Transactions/Vacation Journals

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Where? - on payroll journals

When? – journal period is not the current fiscal year.

Why? – you want Wasabi to calculate fringe using the correct fringe rates.

How? – Select “Y” in the “Bypass Fringe” column on the Coding Tab

What? – Wasabi automatically adds fringe lines and amounts. Go back and add fringe amount to the control total.

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Your Own Dataset

Create Payroll journal

Use Fringe Bypass

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Copy a previous journal

Cannot delete a journal once it’s been transmitted

Steps to “delete” a journal: 1. Create a Reverse journal using the Clone feature

2. Transmit to “undo” the incorrect journal

3. Create a new, correct journal

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Separate file formats for: ◦ Payroll Journals

◦ Stipends

◦ All Other Journals

You can also use the Account Budget Report export as the journal import file.

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Detailed Transaction Report

G/L Journal Status Report

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Use Clone Feature to Reverse a Journal

Import a file to create a journal

Run Journal Reports

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Batch is accepted by G/L

Batch is reconciled and in the HDW

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Batch is on rejected by G/L Batch is on HOLD with HSPH contact Batch is rejected by HOLD contact

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Presentation available in Wasabi Manual/Training page and OFS iSite/ Training Tab/Training Documents topic box