The Auxiliary Voucher (AV) document records adjustment, accrual and recode entries. It is used to record entries to the proper posting period of the transaction for preparation of accurate and timely financial reports. Postings are allowed to the open periods that are set by your institution.
The AV document consists of three separate document types:
• Adjustment: The Adjustment type (AVAD) is used to post adjusting entries that do not reverse in the following month to the General Ledger. The offset to these entries is to the fund balance if the entry affects more than one account. If the entry affects only one account, then there is no offset. Adjusting entries are made to recognize revenues in the period in which they are earned, and expenses in the period they are incurred. A reversal date is not allowed for this type.
• Accrual: The Accrual type (AVAE) is used to post accrual entries to the General Ledger that must be reversed in a designated month following the posting period. A reversal date is required for this type of AV, which is normally during the next fiscal period, although it may be later. The offset to these entries are to the fund balance object code if the entry affects more than one account. If the entry affects only one account, then there is no offset. An accrual entry is always used to correct an accrual entry.
• Recode: The Recode type (AVRC) is used to properly reclassify account balances posted to a prior period so that the reclassifications occur within the same fiscal period. The offset to these entries is to the fund balance. The recode entry acts as an accrual and is automatically reversed. The reversal date defaults to the creation date of the document and cannot be changed. However, the actual reversal occurs on the date the document reaches full approval.