SIMBA: Create a Journal Entry for Incoming Funds

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.

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

1. Select the Park GL Account Document tile.
   
   
2. 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)
     
     
3. Do the following to 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.
      
      
4. 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. 
   
   
5. Populate line item entry fields. (Note: You may have to scroll right to see all available columns.)
   
   
   
   
   1. Line 1
      • 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)
        • Return checks: G/L accounts end in 2 (e.g., 11001102 - Citizens-Transfer-Clr-OUT-ACH-1682, 11004102 - PNC-Main-Clr-OUT-ACH-2656)
      • D/C:
        • Debit: Select for incoming funds
        • Credit: Select for returned items
      • Business Area: Your unit’s BA
      • Fund: 1850000001 (All bank clearing G/L accounts must use this fund.)
      • Grant: NOTRELEVANT
      • Assignment: Deposit location
   2. Line 2
      
      • G/L Acct: Select the appropriate credit account to record the funds received.
      • D/C: 
        • Debit: Select for returned items
        • Credit: Select for incoming funds
      • Text: Enter details to explain why the revenue was collected.
        
        
      • Cost Collector: Select appropriate cost collector for unit receipt.
        
        
6. Click the Save parked document button  in the footer.
   
   
7. Record the document number, which appears in the footer, for future reference.
   
   
   
8. To display the document that was just created, select More > Document > Display.
   
   
   
   
9. To attach relevant documentation for approval and audit purposes, select Services for Object > Create > Create Attachment. All relevant documentation should be attached before submitting to workflow.
   
   
   
   
   • 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.
     
     
10. To update the document to Change mode, select More > Document > Change.
    
    
    
    
11. To move the document into workflow, select More > Document > Save as Completed.
    
    

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Financial Reporting Department