Holiday Closure
Our offices will be closing at 1:00 p.m. on Wednesday, July 3rd in advance of the July 4th holiday and will reopen Monday, July 8th.
Our offices will be closing at 1:00 p.m. on Wednesday, July 3rd in advance of the July 4th holiday and will reopen Monday, July 8th.
Gift Fund FOPPS (SpeedType) can be entered on the regular journal entry page and these entries will be subject to the new approval restrictions, system warnings and edits when the validation is performed. If a line is in error status, the warnings will not be displayed as they would on the Gift Fund Journal.
Generally only designated Gift Approvers (defined below) and the Campus Controller and Post-Award Sponsored Project offices will be able to approve Gift Fund journals (regardless of journal entry page used in the Finance System).
Gift Approvers
The Gift Approvers will be designated based on the following fiscal role assignments on the Fund 34 FOPPS (SpeedType) with access to approve journals in the Finance System. Gift Approvers will be identified on the Speedtype Page on the Gift Attribute Tab as follows:
If the employee associated with the fiscal role does not have access to approve journals in the Finance System they will not be shown on the SpeedType page and will not be able to approve Gift Fund journals.
The journal is required to be approved by the Gift Approver where the money is coming from. In other words the Gift Approver must be on the “from” or debit side of the transaction. For instance, if a journal is created that debits ST 1349999 and credits ST 13411111, a valid Gift Approver from ST 1349999 must approve the journal. A valid approver on ST 13411111 will not be able to approve the journal.
In addition to the restricted approval process, Gift Fund journals are subject to new journal rules with system warnings and edits that differ from the regular journal entry page. These rules help ensure that gift monies are used for purposes consistent with donor restrictions. These rules will be checked during the creation and validation process if the journal entry is created on the Gift Fund Journal page. On the other hand, if the journal is created on the regular or transfer journal page, these rules will not be performed until validation.
System Edits Resulting in Warnings
A warning message will be displayed for each of the rules below upon validation of the Gift Fund journal if the rule is violated:
Journal Line Reference
On the Gift Fund Journal page, when a new line is added to a gift journal the journal line reference field will be automatically populated with the SpeedType and the gift expense code 1 of the previous line. For example, if ST 13410000 with gift expense code AO is entered on line 1 of the journal then the reference field on line 2 will be automatically populated with ‘13410000AO’ when line 2 is added to the journal.
A journal creator will not be restricted to abide by this rule though. The user may choose to enter ST 13410000 on line 1 and 2 of the journal before making the appropriate offsetting entries on lines 3 and 4. This will be allowed and the journal line reference fields will be updated properly on the “validation” of the journal.
If three or more SpeedTypes are included in a single journal, the journal line reference field will display “multiple” in the debit reference field and each of the credit lines will display the debit SpeedType in the reference field. If more than one debit SpeedType and more than one credit SpeedType are involved in the journal each of the reference lines will display “multiple”.
If the journal is created on the regular or transfer journal page, the reference field will be populated according to these rules upon validation.
[i] “System Use” accounts are accounts that cannot be used by the on-line journal entry functions but can only be used by subsystems that interface with the Finance System, such as AP/PO, BRS or HRMS. System Use accounts can generally be identified by their account names which will reference the subsystem, e.g., 100000 – AP System Generated or 100110 – AP – BRS Demand. All salary and benefit accounts are System Use accounts (400000 – 439999) unless the account name includes the term “Non-HRMS”. System Use can be confirmed on the ChartField – Account page as shown below:
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