General Accounting FAQ
- How do I create a journal entry?
- How do I transfer funds to another department or VSA?
- Who do I send the Journal Entry to and when is it due for each month-end?
- Where can I find a list of commonly used expense accounts?
- How do I transfer money to the VSA?
How do I create a journal entry?
Workday is configured so that you can select the correct cost centers (orgs) and spend categories (accounts), decreasing the need for journal entries. However, journal entries are still possible in Workday and will automatically route to the accounting department for review and approval.
How do I transfer funds to another department or VSA?
Who do I send the Journal Entry to and when is it due for each month-end?
It is not necessary to send Journal Entries to Accounting Services as Workday routes the journal for approval. Be sure to attach your back up in Workday. If a journal entry EIB of 10 lines or more needs to be submitted, please create using the Workday Bulk Journal Entry EIB (10 Lines or More) and email to accountingservices@vassar.edu.
Where can I find a list of commonly used expense accounts?
Check back for a list of Common Expense Accounts, here or in the general accounting area of our offices.
How do I transfer money to the VSA?
Paying VSA for a performance:
A journal entry request needs to be done in Workday. For VSA Performance Fee, you will debit your budget using the spend cat SC6513 Performer and Group Performance Fee with ledger account 62172. You will use your function on the debit side and the VSA’s function of 98 on the credit side. For VSA Performance Fee transfers, the budget on the credit side must always be ledger 49000 FD8000-CC4092-RC9002-98 and the gift tag of the VSA doing the performance.
Contributing to a VSA expense or event:
A journal entry request needs to be done in Workday. For fundraising, you will debit your budget using the spend cat that corresponds with what the VSA is fundraising for. For example, if they are requesting funds for travel then the department would use the Student Travel spend cat, if they are requesting funds for a lecture then you would use the Lecture spend cat, etc. For VSA fundraising transfers you would use your function on the debit side and the VSA’s function of 98 on the credit side. For VSA fundraising transfers, the budget on the credit side must always be ledger 49000 FD8000-CC4092-RC9001-98 and the tag of the VSA doing the fundraising.