The General Ledger area is responsible for making sure all items post to the ledger in both a detailed and accurate manner. This is done while also complying with all generally accepted accounting principles and auditing standards. The GL team also provides customer service to the entire USC community as they review and process transactions.
Departmental Deposits are payments received by the University for any purpose other than to pay for charges on a student’s account, such as tuition, fees, and related charges.
If you need to look up a deposit on PeopleSoft Finance, the deposit ID information can be seen in the Reference and Journal Line Description fields of the DEP system generated journal entry. The reference field contains the Deposit Unit (USCSP, SCCOL, SCAIK, SCBFT, etc.) while the specific deposit ID number will show in the Journal Line Description field. DEP journal entries created prior to June 2023 will not contain this information.
Once you have the Deposit Unit and Deposit ID, the actual deposit can be pulled up in Query Viewer using the following navigation in PeopleSoft Finance:
Navigation: Main Menu > USC Enhancements > USC Regular Deposit > USC Regular Deposit
PeopleSoft Journal Entries (JEs) are used to make any adjustment other than PeopleSoft AP payment voucher adjustments and Expense Module adjustments. JEs are processed by departments using PeopleSoft's online system. Once they are submitted and approved by the department, the Controller’s Office will then review, approve, and post the entries.
When to Create a Journal Entry:
- Deposit corrections (post to the GL with a DEPxxxxxxx journal entry); 86/81 transfers; Creating/correcting lnternal Charges
- Any ONL source transaction adjustment (Online Journal Entry)
- Any Single Pay AP payment vouchers
- Any transaction that happened prior to PeopleSoft
When Not to Create a Journal Entry:
- To adjust AP Vouchers: A Journal Voucher (JV eForm) should be submitted via PeopleSoft.
- To adjust Expense Module transactions for the following: (Employee Non-travel, Employee Travel, Procurement Card, Team Card, and Travel Card) An Expense Module Correction Form (APEX) must be used.
Journal Voucher eForms (JVs) are used in PeopleSoft to adjust or correct posted and paid AP vouchers. They are zero amount vouchers, and all adjustments must have a zero effect to the voucher. The Journal Voucher eForms link the JV to the original voucher.
These adjustments may include, but are not limited to:
Post to the General Ledger with an APxxxxxxxx journal entry.
What is an Apex?
The term “Apex” refers to the Adjustment of a Paid Expense. An Apex eForm is used to adjust or correct the accounting associated with paid expense reports for travel, employee non-travel reimbursements, procurement cards (P-cards), team cards, and travel cards.
What can be corrected with an Apex?
An Apex is used to correct any portion of the chartfield string that was used on the original paid and posted expense report. This could be anything from the operating unit to the project and all values in between. Just remember to include the completed and signed Cost Transfer Justification Form if you are correcting a USCSP project.
Why can’t I just process a journal entry (JE)?
The use of an Apex rather than a JE to correct expense reports allows the correction to remain in the expense module and flow to the general ledger (GL) in the same manner as the original item did. It also allows easy future reference to the correction, as it will be directly linked to the original expense report.
How can I tell if I need to process an Apex instead of a JE?
The easiest way to tell is to look at how the item needing correcting posted to the GL. If it posted with a JE beginning with EX, such as EXA0012345 for example, an Apex would be needed. JEs beginning with any other prefix would require different means to correct.
Where can I find the Apex eForm?
To create an Apex, navigate to the APEX Landing page in PeopleSoft Finance:
Navigation: Main Menu > USC Finance eForms > APEX eForm
What supporting information does an Apex eForm require?
Each Apex at a minimum will need a justification and an attachment before it can be submitted. Apex’s involving a USCSP project will also need Cost Transfer Justification (CTJ) questions to be completed. The justification and attachment need to be very detailed, to allow anyone with no prior knowledge of the entry to be able to tell what is being done. Some good examples of attachments include invoices, receipts, spreadsheets, GL screenshot of initial transaction, along with any additional items attached to the original expense report. The CTJ questions need to be detailed to allow Grants and Funds Management and the project PI to verify the validity of the entry on the project level.
What if I process an Apex incorrectly?
The new Apex module is currently not configured to allow an Apex to be processed on another Apex. For example, you are correcting expense report 3000123456 and need to move expenses from account code 53009 to 53002, but accidently moved the expenses to 53001 by mistake. The system will not allow a new Apex eForm to be created to correct this error using the original expense report or the Apex. Instead, please create/sign a copy of the Apex PDF form expense module correction form [pdf] and send to the Controller’s Office at firstname.lastname@example.org for processing. The Controller’s Office staff will process the entry for you. Please remember to include adequate back-up and to attach a PI signed copy of the Cost Transfer Justification form if this correction involves a USCSP project.
If you run into issues during the Apex process, please reach out to the General Ledger Team at email@example.com
Here are some additional General Ledger resources: