- Managing journals and transfers overview
- Identify transaction and prepare journal
- Manage evidence
- Journal approval
- Process controls
Details of the journal must be saved, including appropriate evidence to justify it. This may be required for audits and it is the responsibility of departments to ensure evidence is retained and available.
Retaining evidence electronically is good practice i.e. an electronic file linked to the saved journal or journal spreadsheet (paper files may be kept but are not required or advised).
Appropriate evidence may include:
- Copies of the report identifying an error or reference to a specific saved report where the error can be identified. This may be an Oracle Financials report or come from another system e.g. Core-HR.
- Copies of PO/invoice/expense claims.
- Emails requesting a journal, including an explanation for the request.
- Petty cash reconciliation documentation.
- Barclaycard reconciliations (should a journal be required to clear postings from a default account because the reconciliation has not been submitted on time).
- Confirmation from a trust management board that the costs should be charged to the trust fund, where relevant.