Journal Entry Business Process
Use the Journal Entry business process to adjust spend line items. It is commonly used to reassign costs to alternate cost centers or general ledger (GL) codes.
Characteristics
This is a Project-level business process with a workflow, provided in the system template.
Record Statuses
| Status | Resulting State |
|---|---|
| Approved | terminal |
| Rejected | terminal |
| Canceled | terminal |
| Awaiting_Review | non-terminal |
| Sent_for_Revision | non-terminal |
| Pending_Approval | non-terminal |
Workflow
The default workflow for the Journal Entry business process is set up in a certain way; however, it may be used differently by your organization. Typically, a user with the necessary permissions can create the record and either move it directly to the end step or send it to others for review or approval. The recipients in the second step can approve or reject the record or send it on to others.
Creating a Journal Entry Record
Create a Journal Entry record by navigating to Actuals / Journal Entry on the Project/Shell tab, or from the Tasks log on the Home tab or relevant Project/Shell tab. Act on an existing Journal Entry task that has been assigned to you from the Tasks log.
Complete the Journal Entry form and attach related documents, if needed. After completing the form, select Send, and select an action in the Workflow Actions list to determine the next step in the workflow. Select Send to route the form to the next assignee.
Note:
You must enter a value in all required fields (*) before you can save the form.- Go to your Project tab, and switch to User mode.
- In the left Navigator, select Actuals, and then select Journal Entry.
- On the Journal Entry page, select Create. Refer to the tables below to complete the form. You can select Save at any time to save a draft version of the form. Draft versions are stored under Drafts.
- To add attachments, go to the Attachments tab, and select Attach Files
.
- After completing the form, select Send.
- On the Workflow Action Details tab, select who should receive this BP.
- If permitted, you can add users to the CC list. These users will receive a notification about this BP but are not assigned a task.
- If permitted, you can select lists of members in the Contact List section. These members also receive a notification about this BP but are not assigned a task.
- If permitted, you can adjust task due dates for all users, or set individual task due dates for each assignee.
- Select Send.
- In the Notification window, review the content, and select OK.
The record moves to the next step in the workflow.
Completing the Journal Entry Form
Key Information
Key information about this Journal Entry is provided below.
| Field Name | Access | Description |
|---|---|---|
| Title | Required | Enter a title for this record. |
| Amount | Read-Only | Amount of this record or line item |
| Journal Entry Reason | Editable | The reason for the journal entry |
| Journal Entry Version | Editable | This field is optional. If a previous journal entry has been rejected or canceled, increment the version in this field. |
| Effective Date | Required | Enter the date this record takes effect. |
| Due Date | Editable | Target completion date for this record. A default duration has been set by your administrator but can be overridden here for this record. |
Reference Commitment
If this Journal Entry references a Contract or PO, select it below.
| Field Name | Access | Description |
|---|---|---|
| Contract Reference | Editable | The contract reference number |
| PO Number | Editable | The Purchase Order number in the Journal Entry |
Description
Enter a change description, assumptions, justification, and anything else needed for this Journal Entry.
| Field Name | Access | Description |
|---|---|---|
| Short Description | Editable | Enter a description of 250 characters or fewer. |
| Detailed Description | Editable | The detailed information about the short-description field. The field size can be expanded. |
Record Information
System information about this record
| Field Name | Access | Description |
|---|---|---|
| Record Number | Read-Only | System-assigned-record number |
| Status | Read-Only | Record status for a workflow BP record is based on the workflow action preceding the current workflow step. |
| Creator | Read-Only | Creator of this record |
| Creation Date | Read-Only | Date that the record was created |
| Record Last Update Date | Read-Only | Date that the record was last updated |
| Business Process Record URL | Read-Only | A shareable link to this record, for anyone with the necessary permissions |
| Project Name | Read-Only | Name of the project |
| Project Number | Read-Only | Unique Project Number |
Currency
If the currency of this Journal Entry is different from the project currency, specify it here.
| Field Name | Access | Description |
|---|---|---|
| Transaction Currency | Editable | If there are multiple currencies defined, use this field to specify a currency other than the project currency. |
| Rate in Project Currency | Read-Only | Exchange rate that will be used to calculate the Project Currency Amount. This will be set after the record is saved, submitted, or sent forward in the workflow. After it is set for a record, it cannot be changed. |
| Project Currency Amount | Read-Only | This field shows the amount of the transaction, according to the project currency. |
Consolidating Line Items
Journal Entry line items can be consolidated from the following business processes:
- Budget Change
- Budget Transfer
- Change Order
- Change Request
- Contract
- Estimate
- Forecast
- Initial Budget
- Invoice
- Journal Entry
- PO Amendment
- Potential Change Order
- Purchase Order
- Risk
- Work Release
Completing the Line Items tab
General
Specify a cost code for this Journal Entry line item.
| Field Name | Access | Description |
|---|---|---|
| Cost Code | Required | Enter a cost code. |
| Code Name | Read-Only | Populates the code name of the selected cost code |
Journal Entry Details
Enter the cost for this line item as a lump sum or a unit rate.
| Field Name | Access | Description |
|---|---|---|
| Item Quantity | Required | Enter the item quantity. |
| Unit of Measure | Editable | The unit-of-measure used when reporting costs per project unit |
| Item Unit Cost | Required | Enter the item unit cost. |
| Amount | Read-Only | Amount of this line item |
Description
Enter additional information specific to this Journal Entry line item.
| Field Name | Access | Description |
|---|---|---|
| Short Description | Required | Enter a description of 50 characters or fewer. |
| Detailed Description | Editable | Description of any additional information to the short description |
Custom Fields
The Journal Entry Line Item Custom Fields block is reserved for future use by your organization.
| Field Name | Access | Description |
|---|---|---|
| Journal Entry Line Item Picker UDF 1 | Disabled | Reserved for future use by your organization |
| Journal Entry Text 255 UDF 1 | Disabled | Reserved for future use by your organization |