Penn State Service Management

Article Intended For

SIMBA users

Introduction

This article provides directions for completing a journal entry for incoming funds via cash, checks, ACH, and wire deposits.

For questions regarding incoming funds journal entries, please contact the Financial Reporting Department.

Article Body

For cash and check deposits, documents must be created on the date the bank deposit is made without waiting for bank confirmation.

Select the Park GL Account Document tile.
In the Basic Data section, populate the following header fields:
- Document Date: Date of deposit
- Posting Date: Maintain the default entry
- Reference: Name of department unit (e.g., Athletics - Ticket, Bursar - AL)
- Doc. Header Text: Include any relevant information, including the sender if available (e.g., Check Deposit 02/08/2024, July 2023 PA Dept of Ed Pmt for 23-24, PHEAA PA State Grant 22-23 SU).
Activate the Document Type field in the header.
1. Click the Editing Options menu.
2. From the Doc. Type Option drop-down list, select Document type ready for input.
3. Click the Change user master button in the footer.
4. Click the back arrow in the header.
In the Document Type field, enter YC.

Note: The document type needs to be changed every time an incoming funds document is created. The document type determines which approval workflow is required.
Populate line item entry fields. (Note: You may have to scroll right to see all available columns.)
1. Line 1 - Debit
  - G/L Acct and Short Text: Enter appropriate bank clearing GL that corresponds to your depository banks payment method. (Note: Consult with your Financial Officer if you are unsure of which bank clearing G/L to use.)
    - Incoming cash and checks: G/L accounts end in 6 (e.g., 11001106 - Citizens-Transfer-Clr-IN-Chec-1682, 11002106 - M-T-General_Clr-IN-Chec-7257)
    - Incoming wires: G/L accounts end in 8 (e.g., 11001108 - Citizens-Transfer-Clr-IN-Wire-1682, 11001118 - Citizens-SL-Clr-IN-Wire-0392)
    - Incoming ACH: G/L accounts end in 7 (e.g., 11001107 - Citizens-Transfer-Clr-IN-ACH-1682, 11001567 - Citizens-UHS-Clr-IN-ACH-6321)
      
      Note: The following image is a portion of a bank statement showing both an ACH deposit (G/L account ending in 7) and a wire deposit (G/L account ending in 8).
      
      Note: When processing a YC document for returned funds, credit the bank account and debit the area where the funds were initially received.
  - D/C: Select Debit for incoming funds.
  - BusA: unit’s four-digit business area number
  - Fund: 1850000001 (All bank clearing G/L accounts must use this fund.)
  - Grant: NOTRELEVANT
  - Assignment: If the bank account you are depositing is listed below, add an assignment. Specific assignment values are critical in the bank reconciliation process. Click a link below to open the appropriate spreadsheet, copy the appropriate value in Column B, and paste the value in the Assignment field in the YC document. Not all documents require an assignment.
    - PNC Remote Location Codes Excel file
    - M&T Bank Cash Vault Location Codes Excel file
    - 1682 Assignments Citizens Transfer Excel file
    - 6321 Assignments Citizens UHS Excel file
    - 0384 Assignments Vendor Express Excel file
2. Line 2 - Credit
  - G/L Acct: Select the appropriate credit account to record the funds received.
  - Short Text: Enter details to explain why the revenue was collected.
  - D/C: Select Credit for incoming funds.
  - If using an asset or liability balance sheet GL that starts with a 1 or 2, assign only the following fields.
    - BusA: Your unit's four-digit business area number.
    - Fund: Enter the fund as determined by your business area.
    - Grant: Enter grant number or NOTRELEVANT, as appropriate.
  - If using a revenue or expense GL, which starts with 4 or 5, assign only the appropriate cost collector field.
    - Cost center, Order, or WBS Element: Select the appropriate cost collector for unit receipt.
Park the journal entry.
1. Click the Save parked document button in the footer.
2. Record the document number, which appears in the footer, for future reference.
Display the document that was just created.
1. Click Tree on in the top navigation bar.
2. Expand Parked documents in the navigation tree along the left.
3. Double-click the document that you just parked. The document details populate the Basic Data section.
4. Click Tree off in the navigation bar.
  
  Note: As an alternative to using the Tree on/Tree off option, you can select More > Document > Display, which automatically opens the last parked document.
Attach supporting documents.
1. Select Services for Object > Attachment list.
2. Click the New button to open the Attachment List pop-up window.
3. Upload the required documents.
  - If deposit is completed through courier services (Brinks), attach the prepared deposit slip.
  - If deposit is completed by university staff (walk into the bank), attach the validated deposit receipt.
  - If deposit is completed by remote deposit, attach the remote deposit confirmation.
  - If deposit is completed by wire or ACH, attach any relevant information to allow tracing of the bank deposit.
4. Click the Continue button.
To submit the journal entry into workflow, do either of the following:
- Click the Save as Completed button in the header navigation bar.
- Select More > Document > Save as Completed.