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Financial Corrections & Journal Entries Overview

 

What are financial corrections?

What are journal entries?

Related Policies & Resources

Financial corrections are submitted to correct costing / funding (fund, department, cost center, supplemental, project) for any of the following:

  • Payroll activity (includes fringe)

  • Individual Compensation (ICP)

  • Employee Assignment Costing

  • Expense Reports

  • Invoice Payments

  • P-Card

What are journal entries?

Journal Entries may be completed to request surplus transfers and reallocations of LOCAL fund balances and corrections to transactions with no transaction number.

Related Policies & Resources

Visit the Correcting Entries Matrix to determine which process to follow for the type of correction you need to make.

Visit the Correcting Entry Tracker to follow up on the status of a correcting entry request.

Job Aids

  1. Submit a Payables Single Correcting Entry Request

  2. Submit a Payables Multiple Correcting Entry Request

  3. Submit a Payroll Correcting Entry Request

  4. Submit a Journal Entry Request