PeopleSoft Finance: Month end cleanup for GL Journals and Direct Journal deposits

posted Nov 4, 2015, 10:28 AM by Peyri Herrera
CLEAN UP GL JOURNALS
At the end of each month, we suggest that you check that all GL Journals you have entered have been posted. You can either post the journals or delete them.

Directions:
  1. Go to Main Menu > General Ledger > Journals > Journal Entry > Create/Update Journal Entries
  2. Enter these search parameters: 
    • Journal Date: >= 07/01/2015 (This will ensure you don’t have anything left from prior months.) 
    • Journal Header Status: not = Posted to Ledger(s) 
  3. Click Search
  4. Look at the Source column. You are only concerned with the journals you have created (like DO, SCH, PAC, etc.).
    Clean up GL Journals

  5. Look in the Journal Header Status column to determine which action to take for Valid, Edit Req’d, Error, and Incomplete journals as described below.
    • Valid: Check the Journal Description. Ignore if they have “DO NOT POST” or “DO NOT DELETE.” These are encumbrance journals.
    • Edit Req'd, Error, or Incomplete: Either (1) Make corrections and complete the processing of these journal, or (2) Delete journals - can only be done if it is still an open period. If it is a prior period, contact Financial Accounting for help.
    • Unposted: No action. Ignore unposted journals.

CHECK DIRECT JOURNAL DEPOSITS
You want to check to see if Direct Journal Deposits have been complete.

Directions:
  1. Go to Regular Deposit at Main Menu > Accounts Receivable > Payments > Online Payments > Regular Deposit.
  2. Click Search to see if any deposits are listed.
    • If there are, then they are not completed.
    • If the deposit is not going to be made, you can either change the date or Delete Deposit. This must be done before prior month closes.