Journal Entry Preparation and Approval Policy

This policy establishes guidelines for the preparation, documentation, and approval of journal entries.  It is applicable to all staff who prepare and/or review/approve journal entries. Preparers and approvers must have sufficient knowledge of the purpose and appropriateness of the entry.

Preparation

• All members of the business office have access to creating journal entries
• Create the journal entry with accurate dates, amounts, debits, credits, and accounts
• Use clear and concise descriptions
• Print and initial the journal entry
• Attach supporting documentation that fully explains the purpose of the entry.

Approvals

Preparer submits entry to approver for review. The preparer and approver must be two separate business office individuals. The approver initials the entry after confirming:

• Sufficient support documentation identifying the purpose of the entry is attached.
• The amounts are accurate (tie to the supporting documentation).
• The right accounts are affected in the entry.
• Debits and credits are correct.

LINE OF AUTHORITY
Responsible Office: Business Office
Contact person in that office: Vice President of Finance
EFFECTIVE DATE:  October 22, 2025
Approved by President:  October 22, 2025