Understanding Journals

LAST UPDATED: September 23, 2015

What You Should Know

A journal is the accounting method used to record accounting transactions. Journals consist of header and line information. Journal lines record the individual detail transactions and the chartstrings. Each journal has a minimum of two lines. One is a debit entry and one is a credit entry. The sum of the debit line(s) and credit line(s) must equal zero.

Journals are used to assign funds, transfer funds, correct chartstings, and manage Cost Transfers in Sponsored Research. Each journal has a unique Journal ID, and description. When creating a journal, provide as complete a description as possible. Include attachments to justify your journal purpose to provide support for why the journal is needed, and for historical reference. 

Journals that are not approved by the end of the month will be deleted. These journals can be reentered in the new month. Learn more about Month End Close & Journals.

Journal Sources
Journals come from a variety of source systems and appear in various Information Warehouse Reports.

  • Prime Financials – Prime Journal Page
    • Assignment (ASG)
    • Transfer (TRF)
    • Cost Transfer/ Correction (COR)
    • Standard (STD)
  • Finance & Treasury – Accounts Payable, Sponsored Research Accounting
    • Accounts Payable Liability (APL)
    • Accounts Payable Payment (APP)
    • Accounts Payable Cancelled Payments (APX)
    • Accounts Payable Closed Vouchers (APC)
  • Spreadsheet Journals
  • Concur (CPC or CTC)
  • Labor Accounting
    • LA (Actuals)
    • LE  (Encumbrances)
  • Departmental Charges (DC)
    • DC
  • Other Source Systems
    • Maximo (MX#)
    • Stripes (GFT)
    • Safe (SAF)
    • Faculty Computer Program
    • Endowment Policy
    • Financial Aid
    • Payroll (Human Resources Payroll)
    • Loans & Receivables
    • Princeton Plasma Physics Lab

Journal Class

Journals in Financial Reports

Journal information can be found in the following reports:

  • FIN015 Transaction Detail
    • View journal details
    • View journal attachments via a hyperlink to OnBase
    • Does not include Reference field information
  • FIN016 Transaction Extract
    • Includes Journal Reference field information
  • FIN017 DC Journals

More Information

To learn more about Prime Journals, register for the Create Journals with the Prime Journal Page course or visit the course webpage. To register for the course, visit the Princeton Prime section of the Employee Learning Center.


 

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