General Accounting Adjustment (GEC)
Description: Adjust a general accounting entry's object codes, or correct inappropriate or incorrect account numbers and object codes, on transactions that have posted to the General Ledger.
Access: Any KFS user can initiate a General Accounting Adjustment document.
KFS Module: Financial Processing.
- Upon submission, the GEC document routes to the Fiscal Officer or delegates of all accounts involved.
- The document then follows any pre-defined organizational routing.
Read about KFS document layout, including standard KFS document components, on the FMS website.
Click a screenshot below to view the full-sized image in a new tab.
- Used to:
- Correct accounts, sub-accounts, object codes, and sub-object codes.
- Adjust a general accounting entry's object codes when they cross object types.
- In most cases, the "To" and "From" sides of the document must balance. When crossing income and expense object types, however, document entries may all be on either the "To" or "From" sides. In those cases, the debits and credits must balance.
- The "To" and "From" sides of the document may have different object type codes.
- Cannot be used to bill another account.
- Negative amounts are not allowed.
- When working with Contract and Grant accounts, use a GEC instead of a Distribution of Income and Expense document, even when the original transaction was part of normal business processes. A DI document is acceptable, however, if the DI references the original document numbers (e.g., attach a spreadsheet to the DI listing the document number for each transaction).
- Do not use to distribute salary, wages, or benefits.
- Not for use with fund balance object codes or object type code IC (income not cash).
Note: The General Accounting Adjustment document was previously called the General Error Correction document.
|AS||Assessment||Use Transfer of Funds (TF) or Distribution of Income and Expense (DI) documents.|
|BU||Budget Only Object Codes||Use Budget Adjustment (BA) document.|
|DR||Depreciation||Use CAMS documents.|
|FR||Fringe Benefits||Use Benefits Expense Transfer document.|
|HW/SA||Salaries and Wages||Use Salary Expense Transfer document.|
|LD||Loss on Disposal of Assets||Use CAMS documents.|
|LO||Loss on Retirement of Assets||Use CAMS documents.|
|OP||Other Provisions||Use Auxiliary Voucher (AV) document.|
|MT||Mandatory Transfers||Use Transfer of Funds (TF) document.|
|PL||Plant Capital Assets||Use CAMS documents.|
|TN||Transfer - Generic||Use Transfer of Funds (TF) document.|
|VA||Valuations and Adjustments||Use Distribution of Income and Expense (DI) document.|
|CA||Cash||Use Journal Voucher (JV) document.*|
|FB||Fund Balance||Use Journal Voucher (JV) document.*|
*The Journal Voucher document is used by FMS administrative staff only. If this type of transaction needs to be corrected, contact FMS.
In addition to the standard KFS document components, the GEC document's Accounting Lines tab has two fields that are unique to this document. Both are required and allow the GEC to refer to the transaction that the document is correcting, which preserves and maintains the audit trail.
The Reference Origin Code is a two-character code that denotes the system from which a transaction originated. Some common codes include:
- 01 - KFS (as of 01/2013) or Financial Information System, or FIS (2012 and before)
- CR - Chrome River (new expense management system)
- EP - EPIC (former Purchasing system)
- EU - General Ledger Generated Offsets (uploaded electronic file)
- PL - Payroll/HRMS
- TR - Travel@IU (former Travel system)
If a transaction's Reference Origin Code is unknown, it can be determined by looking at the General Ledger entry the GEC is correcting.
The Reference Number is a unique document identifier specific to the transaction that is being corrected. Examples of Reference Numbers include KFS Doc IDs, PO numbers, Payroll Run IDs, and check numbers. if a transaction's Reference Number is unknown, it can be determined by looking at the General Ledger entry the GEC is correcting.
When adjusting a general accounting entry, enter '01' in the Reference Origin Code field and 'adj' in the Reference Number field.
Note that KFS does not validate the Reference Number entered. In other words, KFS will not check to make sure the number entered corresponds to a valid document number. Additionally, this field cannot contain special characters. If the original transaction's document number contains special characters (e.g., an ID Billing document), omit them from this field.
Example 1: A purchase was charged to one account in error; the charge needs to be moved to a different account.
Example 2: After your DV is approved, you realize you accidentally transposed two numbers in the object code.
Example 3: Your department takes in funds under a revenue object code. Because the funds have not yet been earned, you need to adjust the general accounting entry by moving the funds to a deferred revenue object code.