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PeopleSoft Finance System Values

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 Receipts
  • Cash Disbursements
  • Journal Entries
  • General Ledger Processes

Cash Receipts

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 Disbursements

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.

Journal Entries

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:

  1. 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.
  2. 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:

  • B_INI_CONT
  • B_INI_TEMP
  • B_CUR_CONT
  • B_CUR_TEMP

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

Revenue

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

 

Expenditures

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

Transfers

990000 - Mandatory Transfers In

992000 - Mandatory Transfers Out

995000 - Voluntary Transfers In

997000 - Voluntary Transfers Out

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.

The journal source request process begins at the University of Colorado System Forms website, https://www.cu.edu/controller/forms/finance.html.

 

 

 

 

 

 

 

 

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