To ensure compliance with the University’s Cost Transfer Policy 7.19 and federal regulations, cost transfers should be done at the original charge date and not exceed three months, when submitting a journal entry and moving expenses on a grant or contract award. Therefore, when entering a Journal Entry for a PC Business Unit of GRANT, the following fields should be completed on the Lines entry screen as shown below:
Moving a transaction to an Award/Project
- Reference field = Date of the original transaction
- Journal Line Description=Original transaction name (e.g. Vendor name, Subcontractor name, Recharge Information)
An exception is Clearing UTBG / PFBG Suspense
- Reference field for a UTBG / PFBG suspense clearing = Date of the original transaction
- Journal Line Description for a UTBG / PFBG suspense clearing
= Clear UTBG JE#XXXXXXXXXX
= Clear PFBG JE#XXXXXXXXXX
An exception is Clearing Suspense Account 16000 journals.
- Reference field for a 16000 suspense clearing = Invoice number being moved
- Journal Line Description for a 16000 suspense clearing = Clear 16000 suspense account
Examples for your reference showing one entry line of each type of transaction above:
