Journal Vouchers
What is a Journal Voucher (JV)?
JVs are forms used to process accounting entries. They are primarily used for fund transfers and corrections. Many central offices process JVs.
JVs are forms used to process accounting entries. They are primarily used for fund transfers and corrections. Many central offices process JVs.
Transfers from one account to another are done via JV, including revenue, deficit and expenditure transfers. Write-offs from closing budgets are also done via JV.
To see who initiated a transfer that generated a JV, please follow these steps:
1) Call up the budget in My Financial Desktop (MyFD) using the Budget Summary report.
2) Expand the object code in which the JV posted by clicking on the plus sign.
3) Locate the JV by JV number, transfer amount or date.
4) The field to the right of the JV number shows the NetID of the individual who initiated the transfer.
An internally generated transaction to record financial activity not processed through other systems such as payroll, accounts payable, cash receipts, purchasing card, travel and expense, etc. It can be used to correct errors (ie. an item charged to the wrong department or account), assess overhead or provide support to another fund.
A JV must include a debit and a credit, so that it is balanced, and a description with enough detail to satisfy the approving unit within Financial Services. If appropriate, supporting documentation can be attached to the JV when submitted for approval.
What is a journal voucher?
The entries such as "Rectification Entries", "Adjustment Entries", "Closing or Opening Entries" and Making or Providing for estimates are passed through an internal document called Journal Voucher.
Book Entries are classified as:
1) Purchase Order Based Entries - Booking expenses and liability via GRN against a P.O
2) Sales Order Based Entries - Booking Sales & Scrap Sales
3) Treasury Entries - Entries involving Bank or Cash
4) Debit Notes
5) Credit Notes
6) Journal Entries
Journal Voucher is the document through which the Journal Entries are made into the books.
Book Entries are classified as:
1) Purchase Order Based Entries - Booking expenses and liability via GRN against a P.O
2) Sales Order Based Entries - Booking Sales & Scrap Sales
3) Treasury Entries - Entries involving Bank or Cash
4) Debit Notes
5) Credit Notes
6) Journal Entries
Journal Voucher is the document through which the Journal Entries are made into the books.
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