AGENCY JOURNAL ENTRY REVIEW

Office of Financial Affairs reviews agency journal entries submitted by agencies on the MAGIC YV Document Type. There are a number of scenarios that may require an agency to enter a journal entry, such as adjustments, reallocations or corrections. Agencies are required to attach the Journal Entry - Correction Request Form and indicate the nature of the adjustment. All journal entries MUST include a MAGIC report referencing the posted transaction(s) to be corrected or reallocated. If the posting is a reallocation the summary page used to determine allocation percentages should also be included.

Additionally, payroll should always be adjusted using the SPAHRS reallocation process. In some instances agencies may find this process impractical. If you would prefer to remit payroll adjustments on a YV agencies should complete and include the Direct Payroll Adjustments Form. For more information please refer to Section 18 of the Mississippi Agency Accounting Policies and Procedures or MAAPP Manual.

Resources

Please remit questions to the following to Mary Williams and Marcus Moore