Journal Entry Posting Administrative Policy & Procedure
Policy
This policy requires all journal entries at Wake Forest University to be created and approved by authorized individuals, posted to the appropriate worktags in Workday, and supported by documentation in accordance with Generally Accepted Accounting Principles (GAAP), federal and state laws, University policies and procedures, donor restrictions, and private granting agency regulations. journal entries may be required for invoice corrections, revenue or expenses split between cost centers, transfers between University departments or worktags (e.g., departmental agreements to sponsor campus events), accruals, investment earnings, and for billing internal services or supplies (e.g., security, mail services, computer equipment, etc.).
Related Procedures
- Procedures are incorporated into the policy document.
Related Forms
- There are no related forms.