When should I use the Journal Entry transaction (FB50) versus the Internal Revenues/Expense Recoveries transaction (ZIR01)?
Journal Entry (FB50) – Document Type SA
Use when correcting a previously posted transaction in which one or more of the following pieces of information are incorrect or missing:
G/L account
Funds Center/Fund
Commitment Item
Cost Center/Internal order
Tax Code
Earmarked Fund
Note: Changes to the Text or Assignment field are made through the Change Document (FB02) transaction.
Internal Revenues/Expense Recoveries (ZIR01) – Document Type SI
Use when recording internal revenues or internal expense recoveries between UofT departments or units including:
Sales of goods/services (e.g. lab services)
Recovery of expenses already paid for via invoice (e.g. supplies)
Shared costs associated with common expenses (e.g. equipment, staff salaries/benefits)
Note: There are no taxes charged or calculated on Internal Revenues/Expense Recoveries, therefore the tax codes J9 (expense) or S9 (revenue) will automatically default based on the G/L entered.