JE_PRR (1).doc - Standard Operating Practice ECU Financial...

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Standard Operating Practice – ECU Financial Services XXXX.XX Journal Entry Preparation, Documentation and Approval Authority: N/A History: First Issued: 01/7/2013, issued as a draft PRR Last Revised: 10/27/2014, issued as an SOP Related Policy: N/A Additional References: East Carolina University Basic Spending Guidelines East Carolina University Banner Account Descriptions East Carolina University Banner Fund List by Organization East Carolina University Journal Voucher Entry Form and Journal Entry Guidelines and Procedures _____________________________________________________________________________________________ 1. Purpose The purpose of this standard operating practice (SOP) is to outline the requirements and responsibilities for the appropriate preparation, documentation, and approval of journal entries. This SOP applies to all campus departments and to all journal entry formats, types, and modes of processing. 2. Requirements a. Only current journal entry forms should be used. Older versions will not be accepted. b. Department personnel making journal entries or approving the entries must be knowledgeable of the ECU Basic Spending Guidelines, Journal Entry Guidelines and Procedures, the ECU Banner Account Description and the ECU Banner Fund List by Organization. c. Department personnel should review their financial ledgers and transactions on at least a monthly basis to ensure the reasonableness and accuracy of the posted transactions. Journal entries are expected to be submitted within 30
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