General Ledger Settings
There are several settings that the system admin will need to configure prior to using General Ledger Accounting and J1 Web Finance. There are 5 sections in the General Ledger Settings:
General Ledger Configuration
Account Number Structure & Component Configuration
Project Dropdown Filtering
Budget Checking
Campus Portal Migration
Use these settings to configure the General Ledger.
Current Fiscal Year. Select the current fiscal year from drop-down options. The fiscal year is identified by a four-digit year code and is the calendar year of the first fiscal month.
Fiscal Start Month. Select your institution's starting accounting month, which may not be the same as the calendar year. General Ledger will track information on a fiscal month basis.
Balance Account Number. This special account used when your transaction groups get large. While it is not a factor on financial statements, it must be defined prior to system implementation. The account number used here will be used to balance transaction groups with more than 1,999 transactions.
Allow Posting of Assets before Review. If your institution would like to allow fixed asset invoices from the Fixed Assets module to be posted before those assets have been reviewed and accepted as true assets, select Yes from the drop-down. If you choose to allow posting before review, then any assets rejected can trigger an automatic journal entry to keep GL accounts updated if the original account charged to need to be changed.
Operate Foreign Currencies. If your institution wants to use foreign currencies, select Yes from the drop-down. Foreign currencies will need to be defined on the Define Currency Conversion Rates window in J1 Desktop. If you select No, your institution's system will not be configured to operate in foreign currencies.
Account Number Structure: identifies how each account component is used and the length of each component. Account Number Edit Mask determines how account numbers are displayed when the full account number is not shown. For more information, see the Account Number Structure page.
Component Defaults
Account Type is the default type for new accounts.
Alternate Account Security identifies which account component is used to assign a default alternate account security code for a GL account.
Description is the default description for new accounts.
Summarize determines default summarize settings.
For more information, see the Account Components page or the Account Component Definitions page.
Other Details
Account Security Component 1 and 2 identify the components used to assign security.
Fixed Asset Department is the account component used as the department in the Fixed Assets module.
Fund Component is used for Oklahoma State Reporting only and identifies the component used when creating Institution / State Fund cross-references.
Project Master Component identifies the master account for a project.
Due To / Due From Configuration: Component 1 and Component 2 identify the account components used when due to / due from accounts are created. Use the radio buttons to determine how you want the system to handle due to / due from accounting.
Print Variance Configuration: Variance Page Break Component is the component that dictates a page break on the Budget to Actual Variance Report.
Use this setting to restrict the projects available to users based on the project start and / or end date. To limit users' access to those projects that have a start and/or end date before the request, purchase order, invoice, group, receipt, transaction, or first payment date, select Yes from the appropriate drop-down.
When your system is set up to use General Ledger budget functionality, budget checking settings determine what you can do when a requested transaction exceeds the approved budget.
Note
If your school is licensed for the Budget module, these settings don't determine how the system handles transactions that are over budget.
None: You won't receive any alerts or messages concerning budget overdraws and the transaction will complete as though there are no issues.
Warning: You'll receive an alert that the transaction will overdraw the budget but you can still complete the transaction.
Error: You'll receive an alert that the transaction will overdraw the budget and the system won't allow the transaction to be completed.
This setting enables GL account search functionality in J1 Web. When the "Use J1 Web to look up GL accounts" option is selected and saved, Campus Portal users must be added to J1 Web roles and granted permissions to search GL accounts. For more information, see the GL Campus Portal Migration page.
Danger
Migrating to J1 Web Finance is permanent and will disable the GL Account Lookup feature in the Campus Portal.