general ledger journals in aptos presenter: anne shrubshall date: fasig 25 may 2007
TRANSCRIPT
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GENERAL LEDGER JOURNALS IN
APTOS
Presenter: Anne Shrubshall
Date: FASIG 25 May 2007
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PRESENTATION OVERVIEW
What is a journal?
Why do we need journals?
Audit trail
Issues for discussion Who should create journals?
Authorisation
Journal protocols
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What is a journal (1) ? Vouchers
All transactions in Aptos are held within vouchers
Vouchers contain the double entries (debits and
credits) that underpin all accounting systems
Vouchers are generated as part of transactional
processing
sales ledger
purchase ledger
cash receipting
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What is a journal (2) ? Vouchers can also be created manually
These are then called journals
A journal can be input against any ledger
Purchase ledger journal
Sales ledger journal
Cash book journal
General ledger journal
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What is general ledger journal?
A voucher which creates a transaction manually
on a general ledger code
Each journal must contain at least one:
Debit entry
Credit entry
The total of debits must equal the total of credits
Transaction type on reports - GLJ
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Debits and credits
Debits
What is a debit (DR):
Debit entries appear as positive (no
brackets) on transaction reports
Expenditure is shown as a debit
A debit entry increases expenditure
A debit entry reduces income
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Debits and credits
Credits
What is a credit (CR):
Credit entries appear as negative (with
brackets) on transaction reports
Income is shown as a credit
A credit entry increases income
A credit entry reduces expenditure
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Why do we need journals?
Correcting errors – one to one entries
Making allocations – one to many entries
Year end entries – across years
Accruals
Prepayments
Accrued/deferred income
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Audit trail
A journal derives from outside Aptos
How do I know it is a journal
Transaction type GLJ
Reference should begin J
From transaction back to source documentation
Who did it?
When?
Why?
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How do we get a journal done?
Input by Finance Services
manually
electronically
Input it yourself
DISCUSSION POINT
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Risks of devolved input
Incorrect journals can cause havoc!
Distorts financial reports
Creates further incorrect entries
Have to be a detective to sort it out
• Can be a mechanism to hide fraud• External auditors now take a download of all our
journal entries
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Minimising Risk - Authorisation
Request to Finance Services• Journal request form (needs revising)• Email• Spreadsheet
Devolved input• Only one person involved?• Authorisation outside the system?• Authorisation within Aptos?
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Minimising Risk - Journal protocols
General• Approval to input journals• Training
Detail for journals• Header record• Reference system• Narrative• Source documentation• Correction/reversal of previous journals
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Where do we go from here?
Gather information - questionnaire
Test out system authorisation
Draw up protocols
Revise journal request form
Design spreadsheet template for bulk journals
Guidance on web
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ANY QUESTIONS?