Budget Journal Processing
PEOPLESOFT FINANCE NAVIGATION:
Main Menu > Commitment Control > Budget Journals > Enter Budget Journals
Business Unit - For UHD, Business Unit must always be "00784"
Journal ID - By default, the journal ID will be the next available value in PeopleSoft Finance.
Journal Date - Date of budget journal can be selected. In most instances, the current date is sufficient, unless a user is working on end-of-month close in which case, the last day of the closing month is typically used.
Select "Add" to initiate a new budget journal. The next screen that will appear will be the Budget Header tab.
Budget Header Tab
Ledger Group:
ORG - Select this option when adjusting expense budgets for regular cost centers (ledgers 1 through 4)
REVEST - Select this option when adjusting revenue budgets for regular cost centers (ledgers 1 through 4), grant cost centers (ledger 5) and project cost centers (ledger 7)
PROJ_GRT - Select this option when adjusting expense budgets for grant cost centers (ledger 5) and project cost centers (ledger 7)
PRMST_EXP - Select this option when establishing a grant or project cost center expense budget for the first time, and/or when increasing the initial total expense budget; only for grant cost centers (ledger 5) and project cost centers (ledger 7).
Used by the Office of Research and Sponsored Program (ORSP), Office of Scholarships and Financial Aid (OSFA) and the Budget Office for capital facilities projects.
PRMST_REV - Select this option when establishing a grant or project cost center revenue budget for the first time, and/or when increasing the initial total revenue budget; only for grant cost centers (ledger 5) and project cost centers (ledger 7).
Used by the Office of Research and Sponsored Program (ORSP), Office of Scholarships and Financial Aid (OSFA) and the Budget Office for capital facilities projects.
Budget Entry Type:
Adjustment - Default option; commonly referred to as "Revised"; select when the budget adjustment is a one-time adjustment in the current fiscal year. The majority of budget journals posted throughout the fiscal year will be for revised budget adjustments.
Original - Commonly referred to as "Base"; select when the budget adjustment is a permanent adjustment expected in the current fiscal year and carry over into the next fiscal year and beyond. The majority of budget journals adjusting base budgets throughout the fiscal year will be related to positions. It is rare that the UHD Budget Office allows adjustments to revenue base budgets during the fiscal year.
Long Description
Commonly referred to as the "header description", that should be used to provide a summary of the budget adjustments included in the lines of the budget journal, including information such as purpose, cost center title, and/or position title. A good summary allows approvers to easily and better understand the purpose of the budget journal.
After the Ledger Group, Budget Entry Type and Long Descriptions are selected and entered on the Budget Header tab, the Budget Lines tab can be accessed.
Budget Lines Tab
Speed Type - If the cost center's speed type is known, enter here and the cost center's chartfield values will populate on the budget journal line under the Fund, Dept, Program and Project columns
Account - Enter the revenue or expense budget node
Fund - If the cost center's speed type is unknown, enter the fund code here
Department - If the cost center's speed type is unknown, enter the department code here
Program - If the cost center's speed type is unknown, enter the program code here
Project - If the cost center's speed type is unknown, enter the project value here
Budget Reference - Enter the budget reference, which should start with "BP", followed by the current fiscal year. For example, BP2026. The budget reference should align with the fiscal year of the budget journal date.
Amount - Enter the amount of the budget adjustment.
To increase or establish a revenue or expense budget, enter the amount in the field.
To reduce a revenue or expense budget, enter a minus sign ("-") before entering the amount in the field.
Statistics Code - For non-position budget adjustments, leave blank. FTE is only selected when a user is moving position base budget.
Statistic Amount - For non-position budget adjustments, leave blank. FTE adjustment amount is only entered when a user is moving position base budget.
Reference - For non-position budget adjustments, leave blank. A position number is only entered when a user is adjusting a position's budget.
Journal Line Description - Enter a short description of the adjustment being made on this budget journal line
To add additional lines to the budget journal, click the blue plus sign ("+") on the left-hand side.
To add more than one additional line to the budget journal, enter the number of lines to add in the field to the left of the blue plus sign ("+").
To delete a line or lines from the budget journal, select the boxes on each budget journal line on the left-hand side and click the blue minus sign ("-").
At any point when a user is on the Budget Lines tab, clicking the "Save" button on the left-hand side will save any data entry keyed on the budget lines and generate a budget journal ID at the top in place of "NEXT".
Before moving on, if budget is being transferred from one budget node to another, or from one cost center to another, please ensure the budget journal is balanced by making sure the total debit amount equals the total credit amount at the bottom of the screen.
Documents Tab
Print Journal Entry Details - Click this hyperlink to view the budget journal coversheet. The coversheet can also be printed and/or saved as a PDF. Can be helpful in providing a complete view of all components selected and entered on this budget journal.
On REVEST budget journals (revenue budget adjustments), the signs associated with the amounts on the budget journal lines will be the opposite of what was keyed on the Budget Lines tab.
On financial reports such as a 1074 report, expense transactions do not post with the same sign as revenue transactions. The same logic applies to revenue and expense budgets. Revenue budgets do not post with the same sign as expense budgets.
On a financial report such as a 1063 or 1074 report, the correct form for budgets reflect as a negative amount for revenue budgets (-$25,000) and as a positive amount for expense budgets ($25,000).
In the above scenario, if the cost center's revenue and expense budgets were increased by $5,000, on the REVEST budget journal, the budget journal line is keyed as a positive $5,000, the coversheet will reflect -$5,000 and when the budget journal is posted, the revenue budget will change from -$25,000 to -$30,000.
On the expense side, for the ORG budget journal, the budget journal line is keyed as a positive $5,000, the coversheet will reflect $5,000 and when the budget journal is posted, the expense budget will change from $25,000 to $30,000.
Add New Document - The budget journal initiator must attach backup that supports the reason for the budget adjustments. The supporting documents helps budget journal approvers and the budget journal posters in the Budget Office. If insufficient backup is attached, it may delay the approval and posting of the budget journal. If no backup is attached, the budget journal will be denied by the Budget Office.
A 1074 report attached for each department cost center involved as one of the supporting files is preferred as it proves the initiator reviewed the budget-related information (budgets, BBAs, budget journal transactions, beginning fund equity, etc.) in the cost center(s) prior to initiating the budget journal. At the bare minimum, a 1063 report displaying the department cost center(s) involved should be included as backup.
Other backup to upload behind budget journals: relevant documents/agreements, emails, ePRFs, ePARs.
After backup is uploaded behind the budget journal, return to the Budget Lines tab.
Budget Lines Tab
Before a budget journal is submitted to workflow, PeopleSoft Finance requires a budget check is performed to ensure feasibility.
In the Process drop down menu located at the top, below the budget journal date, select "Budget Pre-Check".
Then click the "Process" button on the right-hand side.
When the message box appears, click "Yes".
PeopleSoft Finance will perform the check. You should see a processing wheel on the top right-hand corner.
If the budget pre-check is unsuccessful, the Budget Header Status at the top will display an "Error" hyperlink. Once the hyperlink is clicked, it will show the budget line(s) in error that needs to be addressed, which is typically the fact that there is insufficient BBA to transfer out of a particular budget node for the cost center listed on the budget line.
If the budget pre-check is successful, the Budget Header Status at the top will display as "Checked Only". The initiator can now move on to the "Approval 2" tab.
Approval 2 Tab
This is the tab where the budget journal is submitted to workflow for unit approvals and posting by the Budget Office.
Source - The appropriate Source must be selected, which should be the initiator's home unit and set as the default Source option. The Source allows the budget journal to follow the correct approval path and allows the Budget Office to know the origin of the budget journal for posting and reporting.
Route To - The appropriate approval path must be selected. All approval paths end with the Budget Office being the final approver that posts all budget journals.
Department-Budget: The budget journal will route from the initiator directly to the Budget Office
Department-College/Division-Budget: The budget journal will route from the initiator to the college or division approver, and finally to the Budget Office
Department-College/Division-Provost-Budget: The budget journal will route from the initiator to the college approver, followed by the Provost Office, and finally to the Budget Office
Approval - In the Approval Action dropdown menu, select "Approve" and click the "Apply" button.