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Business and Financial Policies and Procedures

Record Accrual and Deferral Entries at the End of an Accounting Period

Before You Begin

Financial activity may occur before the related transactions have formally processed through the appropriate Banner financial system. In other cases, financial activity that covers more than one financial accounting period may be recorded in Banner. When these situations occur, temporary entries that adjust for the timing of these transactions may be recorded at the end of a financial period. This provides more accurate financial reporting as of the end of that period.

Entries that add unrecorded financial activity are referred to as accruals. Entries that adjust for activity that belong to a future period are referred to as deferrals. When accruals and deferrals are recorded at the end of a particular accounting period, they must be reversed at the beginning of the next accounting period so the transactions will not be duplicated or misstated in future accounting periods.

Units may initiate accrual and deferral entries only for these fund types:

  • Self-supporting
  • Health Care Service plans
  • Plant

Your unit may—or in some cases must—process accrual and deferral entries at the end of an accounting period.

Begin

To record accrual and deferral entries at the end of an accounting period:

  1. Follow the steps outlined in the procedures below:

Record Accrual and Deferral Entries at Fiscal Year End
Record Accrual and Deferral Entries at Month End

Additional Resources

Definitions
JV Rule Codes
For step-by-step instructions on reversing a journal voucher, consult the online tutorial, Reversing a Journal Voucher in Banner
GL 101: Journal Voucher Process Training Guide
Creating a Journal Voucher with FGAJVCD and FGAJVCQ
Creating a Journal Voucher with FGAJVCM

Last Updated: June 2, 2014 | Approved: Senior Associate Vice President for Business and Finance | Effective: November 2009

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