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KNOWLEDGE CENTRE

When should I use the Journal Entry transaction (FB50) versus the Internal Revenues/Expense Recoveries transaction (ZIR01)?

  1. 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.
  2. 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.

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