Managing journals and transfers - Journal and transfer approval

overview identify evidence approval review controls

  1. Managing journals and transfers overview
  2. Identify transaction and prepare journal 
  3. Manage evidence
  4. Journal approval
  5. Review
  6. Process controls


Journal and transfer approval

All journals and transfers, whether general ledger (GL) or projects, must be appropriately approved. This may be via self-approval up to a delegated limit. 

Journals must never be split into smaller transactions to avoid approval processes.

Approval limits should be considered carefully and set with reference to the department’s budget. Please note that while high self-approval limits are available, it is good practice to implement a process whereby journals, particularly higher value ones, are approved by a separate person.

Approval is via a system-based workflow for general ledger journals whereas departments need to implement an appropriate manual process for approving project journals and transfers.
Responsibilities of approvers

Responsibilities of approvers

When approving a journal, approvers should review the evidence and take responsibility for the following: 

  • Is the journal needed i.e. is it appropriate to make the adjustment or correction to the accounts?
  • Is the journal correct i.e. is coding correct, is the amount correct?
  • Are there any restrictions affecting the costs e.g. funder terms and conditions, donor, trust fund or internal departmental restrictions?
  • Is a clear justification and appropriate evidence available?

In addition, approvers should consider whether any action needed to minimise the need for future journals (e.g. update cost allocations in Core-HR or ensure relevant colleagues are aware a project code has been set up).


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 : Financial Reporting Team
       Finance Division
       University of Oxford
       23-38 Hythe Bridge Street
       Oxford OX1 2ET