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Here is how you should move transaction(s) from one account to another, or
move charges within one account from one budget category to another.
- Journal Entries
- Cost Transfers
- Labor Account Distribution Change & Wage Transfer
Form
NOTE: It is important that you have a method for verifying the legitimacy of
all charges to their accounts.
Journal Entries: Journal entries represent transfers of
charges from one account to another. They differ from cost transfers in that a
journal entry always represents an original charge.
For example: An invoice/service center charge is billed
directly to a departmental GL account, but correctly belongs posted to a
sponsored research PTAEO account (i.e., a department's monthly phone
bill). The bill represents all phone charges made from specific phone numbers
and placed by departmental faculty and staff. A portion of those calls may have
been made by a particular faculty member or staff engaged in a specific
sponsored research project. Phone calls made as part of doing the work of the
project should rightly be charged to the sponsored research PTAEO account.
By completing a journal entry the charges are distributed among the correct
accounts. Journal entries are most frequently initiated by a Departmental Grant
Administrator .
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