Directions To Complete An Expense Transfer
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First Published :Wed Apr 01 14:19:53 GMT 2015
Last Modified :Mon May 06 19:39:50 GMT 2019
Last Published :Mon May 06 19:39:50 GMT 2019
Step by step instructions to complete an expense transfer form, which corrects a posted non-compensation entry.
Below is a sample of an expense transfer entry. When completing the document, the debit (or the +) is the funding source that is going to be charged once the correction has been processed. The credit (or the -) is the funding source from which the charge is being moved (or the original charged location). Debits and credits should net to zero. Please note that a charge can be moved in full, or in part. The expense transfer form is not used to make corrections to salary/benefits; only non-compensation transactions. Make sure the transfer form is signed by a responsible person for both funding sources; the signatures are at the bottom of the Form. Unsigned expense transfers will be returned to the originator. Here are instructions for a user to affix their digital signature. Note: these directions apply to moving an expense, not revenue. If trying to adjust revenue that has been deposited, the signs would be reversed. However, if the revenue is a gift, you should first speak with your Advancement officer so it is re-booked properly.You should also indicate an Explanation Code which is the reason for the transfer.IMPORTANT!Expense transfers that affect a grant in any way must be reviewed and processed by Office of the Vice Provost (Post Award OVPR). Please visit their website for more details about expense transfer requirements.
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