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Enter Manual Daily Journal
Finance Policy 010
1. PURPOSE
1.1. Enter daily journals (Accruals/Adjustments) in General Ledger record.
2. APPLICABILITY
2.1. Finance transaction in the ERP system.
3. DEFINITIONS
3.1. N/A.
4. POLICY
  • 4.1. All daily journals should be submitted and approved maximum at the end of the day.
  • 4.2. Daily journals should be approved according to authority matrix into the system.
5. PROCEDURE
  • 5.1. The accountant of general ledger enters manual journals records, then reviews support documents and the information through entering headers and lines in the GL system that cover the following information:
  • 5.1.1. Journal header info:
  • 5.1.1.1. Journal name
  • 5.1.1.2. Journal description
  • 5.1.1.3. Journal period (accounting period).
  • 5.1.1.4. Journal type (category); for example: accruals, adjustments, reclassification, or recurring.
  • 5.1.1.5. Journal date (accounting effective date within accounting period).
  • 5.1.1.6. Journal currency.
  • 5.1.1.7. Exchange rate (foreign currency daily journal).
  • 5.1.1.8. Reversal policy and method, if required.
  • 5.1.2. Journal lines details:
  • 5.1.3. Account code combination (entity, department, account, etc.)
  • 5.1.4. Line amount (debit/credit).
  • 5.1.5. Line description.
  • 5.2. The accountant of general ledger prepares daily journals of accruals and adjustments, and sends it to the chief accountant for review.
  • 5.3. Chief Accountant receives the daily journals of accruals and adjustments to review them according to the review results:
  • 5.3.1. In case daily journals are inaccurate, it will be sent back to the general ledger accountant to perform needed amendments.
  • 5.3.2. In case daily journals are accurate, Chief Accountant reviews and approves daily journals through the system.
  • 5.4. The accountant of general ledger archives the approved journals with the support documents.
6. RESPONSIBILITIES
  • 6.1. The accountant of general ledger responsibility is preparing, entering and archiving the journals.
  • 6.2. The Chief Accountant reviews and approves the daily journals.
7. APPENDICES
  • 7.1. Process graphic: Enter Manual Daily Journal (Appendix A.)
  • 7.2. Process steps: Enter Manual Daily Journal (Appendix B.)
8. REFERENCES
8.1. N/A
9. DEVELOPMENT TEAM
  • 9.1. Accountant, Financial Control
  • 9.2. Accountant, Treasury
  • 9.3. Accounting, Financial Accounting