- Managing journals and transfers overview
- Identify transaction and prepare journal
- Manage evidence
- Journal approval
- Process controls
Review journals and transfers
It is recommended that approval limits are set so that the majority of journals and transfers are checked and approved through the process of posting them.
If journals and transfers have been self-approved, it is important that adequate review is undertaken to the appropriateness of journals. The reviewer should consider:
- Was the journal needed i.e. is it appropriate to make the adjustment or correction to the accounts?
- Was 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?
- Has appropriate action been taken to minimise the need for future journals?