Corrections

Corrections & Cost Transfers

Finance Centers or departments can process non-compensation general ledger transaction corrections. Corrections will be processed at the request of the department or when discovered by divisional or finance center staff and after receiving approval by the appropriate staff. Corrections will be processed as a Web-ADI upload or, if required through the system source. Refer to Correcting Transactions by Source to see which sources can be corrected via a manual journal entry and which require that the correction be made via the source system.

There are several types of corrections:

Correction - Manual Entry (GL Chart String)

• Used to correct a transaction posted to an incorrect chart string.  A correction entry will move the transaction to the requested chart string using the ‘Manual’ Source.
• To request a correction through a Finance Center complete the OnBase Corrections, Journals and Cost Transfer e-form.  Attach the IRA GL Transaction Correction report; Correction View showing the transaction(s) to be moved. 
• To process a correction in the department a WebADI template, create and upload with Excel. Refer to the Journal Entry Policy for documentation and, record retention and approval requirements.

Correction - Source

• Used to correct a transaction posted to an incorrect chart string using the original Source System.  A source correction will move the transaction to the requested chart string using the original system Source.
• Transactions with a source of “Payables” and “OLD” (Oracle Labor Distribution) must be made via a Finance Center.  To request a correction complete the OnBase Corrections, Journals and Cost Transfer e-form.  Attach the IRA GL Transaction Corrections report; Correction View showing the transaction(s) to be moved.
• To correct transactions from other sources, contact the appropriate person/office as listed in the Correcting Transactions by Source document.

Correction - Capital Equipment

• Used to correct transactions posted to an incorrect chart string including these natural classes or equivalent expenditure type:
  • 1700-Oracle Fixed Assets Clearing
  • 7111  to 7171- EQUIP 5000 to 24999
  • 7561 to 7587 - CAP EQUIP OVR 25K
• To request a capital equipment correction complete the OnBase Corrections, Journals and Cost Transfer e-form.  Add Susan Mockus as the approver. Attach the IRA GL Transaction Corrections report; Correction View showing the transaction(s) to be moved.  If the correction includes a PTAEO string the e-form must also be routed through OSP for their approval.

Correction – Prior Year Revenue or Expense

• A transfer is used to correct transactions posted to an incorrect revenue or expense in a prior year.

Cost Transfers and Reallocation of Charges (PTAEO String)

Used to correct a transaction posted to an incorrect PTAEO string.  A reallocation (within 30 days of transaction posting date) or cost transfer (after 30 days of transaction posting date) entry will move the transaction to the appropriate PTAEO string using the ‘CostTransfer’ Source (non-payroll) or ‘Payroll’ Source (payroll).  Refer to the Office of Sponsored Projects Reallocation of Charges and Cost Transfer Policy for approval and documentation requirements.

To request a reclassifications/correction within 30 days of the original transaction posting date:

• For non-payroll transactions complete the OnBase Corrections, Journals and Cost Transfer e-form.  Attach the CJE001 SPUD Journal and the IRA OGA Transactions Detail Expenditures Report; Correction View showing the transaction(s) to be moved.
• For payroll transactions complete the OnBase Wage Transfer Request e-form.  Attach the IRA OGA Transactions Detail Expenditures Report or a Labor Report showing the transaction(s) to be moved.

To request a Cost Transfers/correction after 30 days from the original transaction posting date:

• For non-payroll transactions complete the OnBase Corrections, Journals and Cost Transfer e-form.  Attach the CJTX001 SPUD Journal and the IRA OGA Transactions Detail Expenditures Report; Correction View showing the transaction(s) to be moved.

Additional Information

• Correcting Transactions by Source (pdf)
• E-Forms Submitter Training (pdf)
• IRA GL Transactions Corrections Report (pdf)
• Journal Entry Best Practices 
• Journal Entry Policy (effective July 1 for FY20)
• Office of Sponsored Projects Reallocation of Charges and Cost Transfer Policy