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UAFR - Journal Voucher Processing Glossary

UAFR - Journal Voucher Processing Glossary

Glossary

Absolute Value  

The value of a Journal Voucher, or document total that is determined by adding every debit and credit value.

Account Code 

A required segment of a C-FOAPAL accounting string that identifies whether a transaction is designated as an asset, liability, equity, revenue, expenditure, or transfer account classification for accounting and financial reporting purposes.

Account Type  

A two-digit code reflecting the logical classification of Accounts with similar characteristics or uses. Classifications include asset, liability, equity, revenue, and expenses.

Accrual Basis of Accounting  

A basis of accounting that reports income when earned and expenses when incurred.

Activity Code 

An optional segment of a C-FOAPAL accounting string used for tracking non-budget control financial activities. For example, temporary events or by person for accounting and financial reporting purposes.

Activity Date  

The actual date a record was entered into Banner.

Adjustment Notification Application (ANA) 

A web-based tool used to request underpayment adjustments prior to payroll calculation, as well as overpayment notification for adjustments that cannot be processed with Banner's Adjustment Processing Form (PZAADJT). ANA is used to provide detailed information regarding the adjustment to Payroll. Payroll creates the adjustment using the information provided in ANA.

Agency

An outside unit that awards a grant. Examples include the State of Illinois, the federal government, or a private foundation.

Allocate 

The process of charging a document or item to more than one cost center. A document or item can be charged to a single cost center or split between multiple project numbers or cost centers.

Approval Queue 

The queue that allows automatic routing of certain journal vouchers to the appropriate unit to review and approve the transaction before it is posted in Banner. 

Approver 

A person who approves a system transaction.

Asset

An item of economic value. Examples include Cash, Investments, Receivables, Inventories, Deferred Charges, and Prepaid Expenses. Assets are viewed on General Ledger Statements and have Account codes in the 5xxxx range.

Auxiliary Fund 

An auxiliary enterprise activity that furnish services primarily to individual students, faculty, or staff and charge fees directly related to the service. University departments and the general public may also be served. Examples include student unions, housing, bookstores, etc.

Balance Sheet  

A statement of a Fund's financial condition, showing a summary of its assets, liabilities, and Fund balance.

Banner 

An enterprise resource planning system that provides comprehensive, integrated financial management for tracking, maintaining, and processing all relevant data. The three main components include Finance, Human Resources/Payroll, and Student.

Block

A group of related fields within a Banner page.

Budget Code

A sequential alphanumeric code assigned by Banner to each budget or adjustment entered. It is associated to the grant and is tied to a particular Fund within that grant.

Business Purpose 

A description, provided by the initial user, of the reason for the expense. This description should always describe the business benefit to the University obtained when incurring any expense. The content of the description is critical to the approval process.

C-FOAPAL (or FOAPAL)

The Chart of Accounts structure composed of the following segments: Chart, Fund, Organization, Account, Program, Activity and Location. A valid C-FOAPAL is required to post or query transactions and to retrieve financial reports. The "FOAPAL" abbreviation is commonly used.

C-FOP 

A shortened version of the Chart of Accounts structure: Chart, Fund, Organization and Program.

Chart 

A required segment of a C-FOAPAL accounting string that identifies the campus or major accounting entity for accounting and financial reporting purposes.

Chart of Accounts (COA) 

The coding system used to capture transaction data, facilitate information retrieval, and manage financial reporting in all of the Banner modules (Finance, Student, and Human Resources).

Chart of Accounts
Chart Code Represents...
1 Urbana-Champaign
2 Chicago
4 Springfield
9 System Offices

Complete  

The status of a transaction that has been submitted by the Originator for any further approvals and posting to the General Ledger.

Credit 

An entry on the right hand side of a balance sheet constituting an addition to the revenue, net worth, or liability account code or deduction from an expense or asset Account.

Cross-FOAPAL Validation 

The process of applying a set of business rules against a transaction to prevent frequently-encountered errors. This process will not prevent the posting of a transaction that is in accord with Banner business rules though it may have been created in error by the Originator. Thus, cross-FOAPAL validation will not prevent all misclassified C-FOAPALs. 

 Debit 

An entry on the left hand side of a balance sheet constituting an addition to an expense or asset Account or a deduction from a revenue, net worth, or liability Account.

 Debits and Credits 

The university uses double entry accounting which requires that the total amount for debits and credits are equal. Each Banner account balance is expressed as either a debit or a credit. Every accounting transaction must include both a debit and a credit. Debits (+) increase expense and asset balances and credits (-) decrease such balances. Conversely, revenue and liability balances are increased by credits (-) and decreased by debits (+).

Decentralized Accounting Environment 

U of I System units have been delegated the responsibility for properly managing their financial information to ensure accurate financial reporting. Accurate financial information is critical to the integrity of the U of I System’s financial statements. 

Department Approver 

The responsible party for approving timesheets after the Department Originator completes time entry and submits the timesheets for approval.

Department Originator 

The unit employee who extracts the timesheets.

Direct Access (Go To...) Field 

The field on the Banner main menu where you may enter the seven-character Form Name to open the form quickly instead of locating the form through sub-menus.

Document Number 

A Banner assigned number uniquely identifying the transaction. 

Document Total 

A required field in a journal voucher where the sum of the absolute values of the accounting distribution records are entered.

Document Reference

A field in Banner where a user-defined eight-character alphanumeric characters are entered to provide additional identification for the transaction. This is a required field for transactions involving fixed asset transfers and encumbrance adjustments/liquidations. 

Encumbrance 

An encumbrance sets aside funding to pay for projected expenses. Examples include purchase order encumbrances, labor encumbrances, and general encumbrances used for non-payroll and non-purchase order expenses.

Equity 

The net value of an asset or business (assets minus liabilities). In College and University Accounting, equity is referred to as the Fund Balance.

Feeder System 

A system that automatically "feeds" transactions into Banner so that they do not have to be individually entered.

Feeder systems are used by departments with large volumes of financial transactions for accuracy and efficiency.

FGAJVCD (Journal Voucher Entry Page)

A Banner page used to process a journal voucher. This page MUST be used to process a journal voucher involving fixed asset transfers and encumbrance adjustments. 

FGAJMCM (Journal Voucher Mass Entry Page)

A Banner page used to process a journal voucher. This page allows the entry of default values to simplify data entry. This page does NOT contain the Document Reference field. 

FGAJVCQ (Journal Voucher Quick Entry Page)

A Banner page used to process a journal voucher. This page ensures greater accuracy and may prevent the creation of a misclassified C-FOAPAL. This page does NOT contain the Document Reference field. 

Field 

An area on a Banner page where you may enter, query, change, and display information.

Fiscal Control and Internal Auditing Act (FCIAA) 

FCIAA is a State-mandated program to aid Illinois State agencies in conducting reviews of their fiscal and administrative systems of internal control. Annually, unit heads and financial officers are required to submit FCIAA Certification for each of their respective departments.

Fiscal Year 

The accounting period of the University defined as July 1 through June 30.

Fixed Asset 

A tangible resource used by the University that has a long life.

FOAPAL (or C-FOAPAL) 

The Chart of Accounts structure composed of the following segments: Chart, Fund, Organization, Account, Program, Activity and Location. A valid C-FOAPAL is required to post or query transactions, and to retrieve financial reports. The "FOAPAL" abbreviation is commonly used.

Fund Code  

A required segment of a C-FOAPAL accounting string that identifies a source of revenue for accounting and financial reporting purposes.

Fund Types 

Fund types are used to classify resources according to specified activities, designations, or restrictions for financial accounting and reporting purposes. These distinctions may be imposed by sponsors, donors, external regulations, or directives issued by the Board of Trustees.GC81 Form- A supporting document used to explain the reason for a non-current transfer.

General Encumbrance 

An encumbrance is a non-payroll and non-purchasing hold on a particular amount of a department's funds.

General Text Entry (FOATEXT)

A field in Banner where the details of the transaction are entered. 

General Ledger 

The General Ledger is the core module of the Banner Finance system. It has a summary of all transactions that are entered through Banner.

Gift Fund 

A Fund established from gifts and donations to support University programs.

Grant  

A Fund awarded to the University for research purposes.

Grant Fund 

Fund established when funds are awarded to the University by external sources in support of research, instruction, or other activities. They are distinguished from gifts because they are awarded to support projects with defined scopes of work.

Grant Fund (or Sponsored Project Fund) 

A Fund established when funds are awarded to the University by external sources in support of research, instruction, or other activities. They are distinguished from gifts because they are awarded to support projects with defined scopes of work.

Hierarchy 

A hierarchy in C-FOAPAL code segments reflects the relationships among its levels and supports roll-up reporting. The Fund, Organization, Account, Program, and Location codes are organized using reporting relationships between the different levels of codes.

Honorarium  

The compensation given to an individual for a service provided. This individual is not employed by the group providing the compensation.

Implicit Approval 

A case when Banner assumes approval from the Originator of a submitted transaction. The transaction automatically forwards to the posting process without having to be routed to an Approver.

Incomplete (or In Process) Transaction Status 

The status of a transaction that is either saved as "In Process" by the Originator for further action or that is disapproved by an Approver.

Index Code 

A "shortcut" code that, when entered, populates other codes into C-FOAPAL fields. These codes can increase data entry accuracy.

Indirect Cost Recovery (ICR) Funds 

The Indirect Cost Recovery Funds (or "ICR Funds") are collected by the University from the indirect cost recovery facilities & administrative (F&A) rates charged to grant Funds. These fees are charged to cover the University's overhead costs.

In Process (or Incomplete) Transaction Status  

The status of a transaction that is either saved as "In Process" by the Originator for further action or that is disapproved by an Approver.

Inquiry Page 

A page used to look up existing information in the Banner database. A Banner Finance Inquiry form will have an "I" as the third letter of its name. An example includes FOIDOCH.

Internal Transaction 

A financial transaction that is processed in Banner to record accounting and financial activity between funds within the University of Illinois System.

Journal Type 

Refers to the rule class or the transaction code for the accounting entry.  Rule classes are established for the processing of journal vouchers for transfers of expenditures, revenues, cash receipts and cash disbursements. The terminology rule class and rule codes are used interchangeably in Banner.

Journal Voucher 

Journal vouchers are used to record original entries or adjustments and corrections to previously recorded transactions.  To determine the type of journal transaction the user enters the journal type as defined in the rule class table. 

Labor Encumbrance  

An encumbrance created to cover payroll expenses.

Labor Redistribution  

The Banner process for transferring salary and fringe benefits costs.

Ledger  

A general file used to record financial entries.

Liability  

An amount owed by a unit. Examples include Accounts Payable, Accrued Payroll, and Deferred Revenue. Liabilities are viewed on General Ledger statements and have Account codes in the 6xxxx range.

Location Code 

An optional segment of a C-FOAPAL accounting string primarily used with, but not limited to, the Fixed Asset module to designate physical sites, such as building and room number, for accounting and financial reporting purposes.

Misclassified (Rogue) C-FOAPAL 

A C-FOAPAL that uses any combination of improper C-FOP segment codes, e.g., a Fund code from one department with an Organization and Program code from another department.

OBFS 

Office of Business and Financial Services

Organization Code 

A required segment of the C-FOAPAL accounting string used to identify a functional reporting unit (such as school, college or department).

Operating Ledger 

The Operating Ledger stores cumulative totals of revenue, expense, and transfer transactions on a fiscal year basis and is updated as transactions are posted so it has real-time totals.

Options Menu  

A menu within a Banner form with available options that are dependent upon the current block. The options may include opening another form.

Organization 

A required segment of a C-FOAPAL accounting string used to identify a functional reporting unit (such as a school, college, or department) with financial activities for accounting and financial reporting purposes.

Organization Code 

A code that identifies the Organization to which the equipment custody has been assigned.

Originator 

A person who initiates a transaction. 

Page

A page within Banner used to process a transaction.

Plant Funds 

The Funds that cover resources and expenditures associated with plant assets - tangible items with a useful life of one year or more that involve capitalization.

Posting 

The acceptance of a transaction to the General Ledger in Banner.

Program Code 

A required segment of a C-FOAPAL accounting string associated with group activities, operations, or other units of work directed to achieving specific purposes or objectives used for accounting and financial reporting purposes.

Query 

The process of using Banner pages to look up existing information in Banner.

Query Page  

A page used to look up existing information in Banner. It can only be opened from within another form and is not present on the main menu. A Banner Finance Query form will have a "Q" as the third letter of its name. An example includes FGQDOCP.

Reconcile

The completion of a reconciliation of a department's statements for a certain period.

Reconciliation 

The balancing of a department's statements for a certain period with the transactions that it conducted during that same period.

Record  

An official and trustworthy document used for accountability and transparency. Requirements for retaining records are mandated by federal and state laws and regulations. 

Revenue Account Code  

A code that is automatically credited as the result of the incurrence of expenditures in a contract or grant account.

Rogue (or Misclassified) C-FOAPAL 

A C-FOAPAL that uses any combination of improper C-FOP segment codes, e.g., a Fund code from one department with an Organization and Program code from another department.

Rolling Fiscal Year Budgets 

The budget funds that do not expire at the end of a fiscal year. Instead, any remaining funds from a given fiscal year are available at the beginning of the next fiscal year.

Roll Over

The funds that are earmarked for the same purpose when the new fiscal year begins.

Rule Class (or Rule Code) 

A transaction code that determines what a user can enter into a Banner form and tells Banner how to process the transaction.

Rule Code (or Rule Class)  

A transaction code that determines what a user can enter into a Banner form and tells Banner how to process the transaction.

Security Access 

The ability to use a business system. Your Unit Security Contact (USC) is able to request this access for you based on the authority assigned to you by your supervisor. To locate your USC, visit: http://www.aits.uillinois.edu/access/find_my_usc/.

Segment  

A singular part of the C-FOAPAL string. This could include Chart, Fund, Organization, Account, Program, Activity, or Location.

Self-Supporting Fund 

A Fund that receives its money from revenue generated by the unit through the sale of products or services. For example, U of I System bookstores, meeting and conference services, Telecommunications, and Technology Services.

Sequence 

An event within a transaction. 

Sequence Number 

The number assigned to an event representing its place in chronological order of events of a single grant.

Sponsored Project Fund (or Grant Fund)  

A Fund established when funds are awarded to the University by external sources in support of research, instruction, or other activities. They are distinguished from gifts because they are awarded to support projects with defined scopes of work.

State Fund 

The funds that include appropriations from the University Income Fund (from tuition, fees, and miscellaneous income), the General Revenue Fund (received from the State of Illinois), and several other special purpose funds.

Steward

A person who has a fiduciary relationship with the U of I System. The term "fiduciary" means "holding in trust." Fiduciary responsibilities for U of I System employees include:

  • Avoiding conflicts of interest
  • Acting in the interest of the U of I System rather than your personal interest
  • Assuring that U of I System business is transacted legally
  • Protecting the assets and resources of the U of I System

Submit for Approval 

The process that begins the approval process for a transaction. Completed by the Originator.

Suspense  

The status that any journal voucher marked Incomplete by the Originator or is disapproved is held in Banner.  The Originator may revise the journal voucher correctly and send it for completion again or delete it from the system.

Unit Security Contact (USC) 

The employees of the University's units who are authorized to request access to business systems for individuals. To locate your USC, visit: http://www.aits.uillinois.edu/access/find_my_usc/.

 



KeywordsUAFR - Journal Voucher Processing Glossary   Doc ID124364
OwnerLearning Systems SupportGroupUI Training and Development Resources
Created2023-02-24 15:53:23Updated2024-02-02 10:00:07
SitesUniversity of Illinois Training and Development Resources
CleanURLhttps://answers.uillinois.edu/training/uafr-journal-voucher-processing-glossary
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