Fingate Funds Management > iJournals > How To... > Create a New Journal

How To:  Create a New Journal

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bullet iconStep 5 – Complete Approver Routing on Routinglist Screen

Depending upon the journal form type, approvers are selected based on either PTAs debited or credited.

Originator without Approval / Sufficient Authority

There must be a designated approver with sufficient approval authority. System generated approver(s) will suffice.

Originator with Sufficient Approval Authority

Journals totaling $10,000 or more that do not automatically end-route require an approver. The originator must select an approver as follows:

  • Fund Transfers – route to the originator's manager, or to the appropriate Fund Accountant
  • Reclass – route to the originator's manager, or to the appropriate FAIR Accountant
  • Others – route to the originator's manager, or to a peer in another department, or to a Central Office staff person

 

What's Next?

  • The journal is routed, in sequence, to the approvers and any FYI recipients listed on the routing list.
  • After the final approval, the iJournals system validates the journal a final time to ensure nothing has changed (e.g., PTA segment closed) since the transaction was submitted.
  • If the journal is valid, it will post to the General Ledger. If it is not valid, the system rejects the journal and sends a notice to the originator, with copies to approvers and/or FYI recipients. The originator must update the journal and resubmit.
  • Journal originators are responsible for monitoring the approval status of their journals. Journals must be completely approved, including end-routes, by the cut-off date each month to be included in the month's activities. See Overview: Month-End Close and refer to Month-End Close Deadlines.
  • At the end of each month, the Systems and Reporting Operations (S&RO) group will change the period of any unapproved journals in the system to the following month (e.g., the period for any November journals not approved by the cut-off will automatically be changed to December). An unapproved journal will remain active in the system until it is fully approved.

 

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