ࡱ> JLI bjbj]W]W 4.?=?= JJ \A,     +++++++$-0`++  +___F  +_+__ p- CU +,0A,,0_00_++_A,0J j: Guidelines for Creating a Description for a Financial Transaction Financial transactions need to be clearly described for purposes of reporting, reconciling and adjusting. Examples of financial transactions include cash receipts, deposit corrections, requisitions, purchase orders, invoices, travel expense reports, PCard charges, and journal entries. For each of these transactions, a good description will help differentiate that specific transaction from all others in the general ledger and on a Finance Mart report. In addition to description, a financial transaction has other elements attached that already help to differentiate it from other transactions. For example, there will be a posting date, a chartfield, a transaction type and perhaps a customer or vendor. The goal in writing a good description is to be clear to someone who will read the description in the Finance Mart reports, but not repeat other information that is already there. The elements of a good description include the following: Unique information for this purchase or transaction Business purpose for the transaction Dates and reference numbers for corrections so that the original transaction can be traced Short terms that fit into the allowed number of spaces in the general ledger, with key terms towards the front of the description The elements of a good description will NOT include the following: Information that is already present in another part of the transaction such as chartfield or transaction type Jargon or references known only to the vendor, individual or industry University acronyms that might not be clear, such as CAS Extra words such as a, to, or the unless they are needed to make the statement clear On the attached page is a table with two examples for several of the referenced types of financial transactions one that would be considered incomplete and one that is more clearly worded. Examples for Descriptions of Financial Transactions Transaction TypeIncomplete DescriptionClearly Worded DescriptionWhy Its BetterCash ReceiptCustomer Cash SaleDell Computer 3 gigDescribes what was boughtDeposit correctionTo correct depositReverse # 12345 from April 6, 2010Identifies first transaction with date, no extra wordsRequisitionDell Order # 123456Three lab computers Describes items, vendor name is on PO alreadyPCard purchase#127859604 Electric stapler - Dean JonesDescribes item, does not use vendor order or part #PCard purchaseSpecial event taking place including hundreds of students so office supplies are needed for Dean JonesOffice supplies New Student DayOnly 36 allowed spaces so description will be cut off and read: Special event taking place includingPurchase order2 Disney videos2 Disney videos for grant studying child media preferencesExplains business purposePurchase orderBus ServiceBus service April 3, 2010 MiamiIdentifies specific tripJournal EntryTo adjustTransfer PFS123456 from operating unit UNV to TPAExplains purpose and references original transactionTravel Expense ReportNo cab receiptTraveler shared cab with other ŷƬ traveler (name) who put receipt in their expense reportMakes it clear that needed receipt was obtained and where it can be found BC& > / 0 2 3 v  +f}/023Z~  Zpq[lnz%47F#xxչչιιβ h!3h!3 hBC 0 U 3 v +f $d$Ifa$gd$$Ifl\" 6$  t0$644 layt$6666666666666666666666666666666666666666666666666hH6666666666666666666666666666666666666666666666666666666666666666662 0@P`p2( 0@P`p 0@P`p 0@P`p 0@P`p 0@P`p 0@P`p8XV~ OJPJQJ_HmH nH sH tH J`J x{cNormal dCJ_HaJmH sH tH DA D Default Paragraph FontRi@R 0 Table Normal4 l4a (k ( 0No List tt !3 Table Grid7:V0 d@@@ / List Paragraph ^m$PK![Content_Types].xmlN0EH-J@%ǎǢ|ș$زULTB l,3;rØJB+$G]7O٭V$ !)O^rC$y@/yH*񄴽)޵߻UDb`}"qۋJחX^)I`nEp)liV[]1M<OP6r=zgbIguSebORD۫qu gZo~ٺlAplxpT0+[}`jzAV2Fi@qv֬5\|ʜ̭NleXdsjcs7f W+Ն7`g ȘJj|h(KD- dXiJ؇(x$( :;˹! 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