JET Journal Entry Backup Requirements
What & Why
Departments are required to retain complete and readily accessible supporting documentation for all journal entries submitted through JET. This documentation is essential to demonstrate the accuracy, validity, and business purpose of each entry.
From an audit and compliance perspective, journal entry support serves as evidence that transactions are appropriate, properly authorized, and in accordance with institutional policies and external requirements such as Uniform Guidance. Auditors and external sponsors rely on this documentation to verify that financial activity is accurate, allowable, and properly recorded.
Time Matters
Timely response matters! When you receive a request for JET supporting documentation you need to respond immediately. We are asking because we have already been asked by either internal auditors, external auditors, sponsors, or some other regulatory agency. Inability to provide adequate or timely documentation can result in audit findings, questioned costs, delays in reimbursement, or potential non-compliance with sponsor and regulatory requirements. Responding timely keeps the university in compliance.
How It Gets Used
External parties, including project sponsors and financial statement auditors, request JET supporting documentation regularly to substantiate charges, support invoicing, or test financial controls. Finance and Internal Audit may also request documentation throughout the year as part of routine monitoring and control activities. Departments are expected to respond promptly to all requests.
Supporting Documentation
At a minimum, supporting documentation should include:
- Source documents (e.g., invoices, reports, system extracts)
- Clear calculations and methodologies used
- Justification for the entry, including business purpose
- Evidence that supports the accuracy and allowability of the transaction
Maintaining organized and accessible documentation ensures efficient audit support, reduces institutional risk, and helps protect funding and ensures university compliance.
Questions? Please contact financecustomercare@ohio.edu