Creating and Approving Journal Vouchers (JVs) in FAST JV

Patience Ternus
29 steps
5 minutes

Isu

Finance > General Ledger > Journal Vouchers > FAST JV **Creating & Approving JVs in FAST** As stated previously, to keep ISU functioning optimally, University leadership needs accurate financial data, which results from maintaining a high standard of quality in our financial systems and processes. Quality systems mean better data. Better data drives better decision-making and more effective use of vital resources. Consistently following the steps as outlined in the document below ensures that our financial records are as accurate as possible, enabling ISU to operate as smoothly as possible. Quick Summary: - A Journal Voucher (JV) is created by an 'Originator' - The JV is routed through an 'Approval Queue' based on the Transaction Type: - Adjusting Journal Entries (JE16) require **one** approval - Interdepartmental Sales (IDS) require **two** approvals - The JV is reviewed, approved, and sent to the Controller's Office ('Central') for final processing - FAST JV automatically checks the JV against specific criteria to determine if further approval is required. The JV is then either: - auto-approved and posted to Banner **OR** - auto-routed to a Central Reviewer for further approval - The 'Central Reviewer' either approves and posts the JV to Banner or routes it back to the Originator for revision (See the diagram in the 'Routing JVs' section for more detail)

Prerequisites/ You'll need: - access to the FAST JV Module - an explanation of why the JV is needed - supporting documentation to attach to the JV - the Index & Account Codes to route From **AND** To - to know the correct person to route the JV to - FAST Finance access if you need to look this up Contact [Financial Reporting](https://www.isu.edu/financeadmin/departments/financial-reporting/our-team/) team with any questions

Create a JV

Log in to FAST and select the Journal Vouchers module from the navigation menu on the left. (see the instructions for [accessing FAST modules](https://scribehow.com/shared/Access_the_FAST_AR_Module__lQKGXORkTBeSv-ZkBrGiwQ?referrer=workspace) if necessary)

Click the **Documents** tab and select ‘New’ from the dropdown menu

The 'Document (optional)' and 'Effective Date' are auto-populated by default. Leave them as is. Select the type of JV to create from the Trans Type dropdown menu (either 'JE16' or 'IDS')

**Required:** Enter an explanation in the 'Document Text' box detailing why this JV is being created. Optional: Enter a short description. This will auto-fill the description for each line item in the section below. If this JV relates to a documented transaction, it is **highly recommended** to include the Reference ID of that document (Invoice #, Receipt #, Journal Entry #, etc) in this field. Click 'Save Document Header' to proceed to the Line Item Entry section

**Optional Bulk Import** If you’re only making one adjustment, it’s usually quickest to enter the line items manually. However, if you have **many** transactions to enter into a single JV, FAST allows you to upload an Excel spreadsheet of up to 9,999 rows. Instructions for this option are included after the steps for the manual entry process.

Fill in the 'Description field' (or edit the auto-filled value) to clearly explain what each line item is for.

Add the 'FOAPAL' details for each line. Type the codes in or use the magnifying glass icons to search for and select them from a dropdown list. When you enter an Index Code, the system will automatically fill in the Fund, Org, and Program fields for you. \*\*Be aware that the Index field is case-sensitive and that Index Codes need to be **Upper Case** when typed in or your input will be rejected.

**IDS JVs** When creating a JV for an Inter-Departmental Sale (IDS), at least one line will need to have a Credit to Acct Code 8991 for the Index receiving the Revenue. This was pre-populated when using DocuSign (process now retired), but in FAST JV you will need to input that yourself.

You will need to manually enter in or select the correct Account Code. Enter in Activity & Location codes if applicable. Enter in a Debit or Credit amount (an error will show if you try to save a line with both values showing '0.00') Click the 'Save & Plus' icon to save the current line and create the 2nd corresponding line.

**Best Practice** - The first line should be the 'Source' or 'From' account. Use a debit to decrease the account balance or a credit to increase it. - The second line should be the 'Destination' or 'To' account. Use a debit to increase the account balance or a credit to decrease it. The column headers include helpful reminders if needed.

**Bulk Upload Process** (skip to step 14 if all line items are entered and you're ready to continue) To upload an Excel file containing multiple rows of line items, click "Excel Import"

The Excel file MUST be formatted in a VERY specific way for the system to be able to 'read' the line items and upload them. If you're following this process for the first time, click 'Download Template' to get a correctly formatted file to fill out. This can then be saved and used again later.

Click "JV- Excel Import Template.xlsx" to download the needed template. Other files are included here for reference. Click the 'X' to close the window

Fill out the Excel sheet and respective columns.

Once the Excel file is ready for upload, click the 'Choose File' button to select it from your file explorer, or simply drag and drop the file onto the button. Click "Next Import Step"

A progress bar will show the file's upload status. If successful, you'll see the newly added lines and a confirmation will pop up. Click 'Ok' See the Troubleshooting section below if you encounter any errors.

When all line items have been entered, double check that the JV is in balance. Click 'Attach Addition Information' **You will be prevented from submitting the JV without attaching documentation.**

Click 'Choose Files', find and select the desired file(s) in your File Explorer.

Once successfully uploaded, you'll see list of all attached files. Click the 'X' to close the window Click 'Proceed to Routing' in the bottom right corner.

Routing JVs

**Typical Approval Queue** The JV Approval Queue usually follows the steps below: - For Interdepartmental Sale JVs (IDS): - The Originator routes the JV to an Account Director (AD) or Principal Investigator (PI) - The AD/PI then routes the JV to a University Business Officer (UBO) - For all other JVs (JE16) - The Originator routes the JV to a UBO or PI - ADs are notified of account activity via an auto-emailed report - The UBO/PI reviews the JV and routes it to Central - The system automatically checks the JV against specific 'Routing Rules': - JVs that do not further approval are automatically approved and posted - JVs that **do** need further approval are auto-routed to Central Review for final approval If a JV has errors at any point, it is returned to the Originator for revision, and the approval process starts over.

From the routing screen, click the magnifying glass icon to open the search box

Search for and select the next person the JV needs to be routed to. If you're unsure who that is, you can refer to the [Index List with Approval Queue](https://mfast.isos.isu.edu/FASTBUILDER/Page.aspx?PAGENAME=XPQoYRnVPpCh5wyoat84gf+eXXx9z9DcJQcZHMxyAHoHldwAV5bWMA==&SCHEMA=9tDhX1GMC/FnteOVjPoD5A==) report in the FAST Finance module to find who the AD, PI, or UBO are for a specific Index.

Click the Star icon to save a frequently used contact as a 'Favorite'

"Send to an Employee to approve this Document" is selected by default. Click 'Submit'

If the JV has all necessary info and is in balance, a pop up will confirm the JV was successfully routed to the next person in the Approval Queue and you'll be returned to the JV module Home screen. Click 'Ok' and you're done! If an error prevents you from submitting the JV, please refer to the Troubleshooting section\[[[link]]\] for guidance on addressing any issues.

Approve JVs

The next person in the Approval Queue will receive an email notifying them that a JV requires their review.

You can log into FAST JV directly in your browser or by clicking the link provided in the email.

Navigate to Documents > Open > For Approval, and select the JV from the list.

Review the JV and **take note of the Transaction Type** so you will know whom to send it to next. Click 'Proceed to Routing'

**Possible Actions** As outlined in the Routing JVs section above, there are two possible scenarios that determine where the JV is routed next: - **Revisions Needed** – The JV is returned to the Originator for corrections. - **JV is Error-Free** – The JV moves forward in the Approval Queue. See the following steps for details

**Revisions Needed:** - If corrections are needed, select the "Return this Document to Originator for revision" button - It is **STRONGLY recommended** to include notes in the 'Additional Comments' box explaining why the JV was returned and more importantly, **what** needs to be fixed. so that the Originator knows WHY the JV was returned to them and what to fix. - Click Submit.

**Next Approver in the Queue:** For **IDS** JVs: - If you are an AD/PI, select "Send to an Employee," search for and select the appropriate **UBO** to route the JV to, and click Submit. If unsure who that might be, refer to the [Index List with Approval Queues](https://mfast.isos.isu.edu/FASTBUILDER/Page.aspx?PAGENAME=XPQoYRnVPpCh5wyoat84gf+eXXx9z9DcJQcZHMxyAHoHldwAV5bWMA==&SCHEMA=9tDhX1GMC/FnteOVjPoD5A==) report. - If you are a **UBO**, select "Send to Central" and click Submit. If needed, you may also select "Send to an Employee" and route the JV to another UBO. For **JE16**s: - If you are a **UBO/PI**, select "Send to Central" and click Submit. If needed, you may also select "Send to an Employee" and route the JV to another UBO.

Click the Star icon to save a frequently used contact as a 'Favorite'

If the JV has all necessary info and is in balance, a pop up will confirm the JV was successfully routed to the next stage in the Approval Queue and you'll be returned to the JV module Home screen. Click 'Ok' and you're done! If an error prevents you from submitting the JV, follow the message's recommendations to resolve any issues. If no details are provided or you have additional questions, please reach out to the Financial Reporting team.

Central Review

**Central Review** Some JVs will require an additional review by the Controller's office before being approved and posted. This is determined by predefined 'Routing Rules' based on account codes, expense amounts, index types, and other factors. You can reference the full list of Routing Rules [here](#). - If the JV **does** meet any of those conditions, it will be automatically routed to the correct Central Reviewer, who will either approve and post the JV or route it back to the Originator for further revision. - If the JV doesn't meet any of the criteria requiring further approval, it will be automatically approved and posted. Once posted, it should be visible in Banner within 5-10 minutes.

View & Edit JVs

You can monitor the progress of JVs by running a Status Report. Go to the Documents tab and select 'Status', enter any relevant filters (such as JV Number or Creator), and click Execute Report.

Revision Responsibility Our official Division Policy for JVs with errors is that the JV Originator is ultimately responsible for ensuring the JV is accurate. Account Director review is included in the Approval Queue more as a courtesy notification of account activity and are therefore advised to not make any revisions to a JV, only route it to appropriate person in the Queue. UBOs who are comfortable making revisions are permitted to do so if they want or can simply return the JV to the Originator.

Click the 'Pencil' icon to edit a line. Once everything looks correct, click 'Proceed to Routing'

If editing an **Amount** make sure to also update the second line to keep the JV balanced. Save each line individually, or use the 'Disk & Pencil' icon to save the current line and move to the next.

Troubleshooting

This section is under construction. Please check back regularly for updates

Creating and Approving Journal Vouchers (JVs) in FAST JV

Patience Ternus
29 steps
5 minutes

Isu

Create a JV

Click the **Documents** tab and select ‘New’ from the dropdown menu

The 'Document (optional)' and 'Effective Date' are auto-populated by default. Leave them as is. Select the type of JV to create from the Trans Type dropdown menu (either 'JE16' or 'IDS')

Fill in the 'Description field' (or edit the auto-filled value) to clearly explain what each line item is for.

**Bulk Upload Process** (skip to step 14 if all line items are entered and you're ready to continue) To upload an Excel file containing multiple rows of line items, click "Excel Import"

Click "JV- Excel Import Template.xlsx" to download the needed template. Other files are included here for reference. Click the 'X' to close the window

Fill out the Excel sheet and respective columns.

Once the Excel file is ready for upload, click the 'Choose File' button to select it from your file explorer, or simply drag and drop the file onto the button. Click "Next Import Step"

When all line items have been entered, double check that the JV is in balance. Click 'Attach Addition Information' **You will be prevented from submitting the JV without attaching documentation.**

Click 'Choose Files', find and select the desired file(s) in your File Explorer.

Once successfully uploaded, you'll see list of all attached files. Click the 'X' to close the window Click 'Proceed to Routing' in the bottom right corner.

Routing JVs

From the routing screen, click the magnifying glass icon to open the search box

Click the Star icon to save a frequently used contact as a 'Favorite'

"Send to an Employee to approve this Document" is selected by default. Click 'Submit'

Approve JVs

The next person in the Approval Queue will receive an email notifying them that a JV requires their review.

You can log into FAST JV directly in your browser or by clicking the link provided in the email.

Navigate to Documents > Open > For Approval, and select the JV from the list.

Review the JV and **take note of the Transaction Type** so you will know whom to send it to next. Click 'Proceed to Routing'

Click the Star icon to save a frequently used contact as a 'Favorite'

Central Review

View & Edit JVs

You can monitor the progress of JVs by running a Status Report. Go to the Documents tab and select 'Status', enter any relevant filters (such as JV Number or Creator), and click Execute Report.

Click the 'Pencil' icon to edit a line. Once everything looks correct, click 'Proceed to Routing'

If editing an **Amount** make sure to also update the second line to keep the JV balanced. Save each line individually, or use the 'Disk & Pencil' icon to save the current line and move to the next.

Troubleshooting

This section is under construction. Please check back regularly for updates