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Cost Transfers (GL Expense Transfers)

Cost Transfers (GL Expense Transfers). Purpose. This session is designed to provide an overview of cost transfers (GL expense transfers) and its application at Georgia Regents University. Objectives. Purpose of cost transfers (GL expense transfers)

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Cost Transfers (GL Expense Transfers)

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  1. Cost Transfers (GL Expense Transfers)

  2. Purpose This session is designed to provide an overview of cost transfers (GL expense transfers) and its application at Georgia Regents University.

  3. Objectives • Purpose of cost transfers (GL expense transfers) • Different types of cost transfers (GL expense transfers) • What, how and who to submit cost transfers (GL expense transfers)

  4. Agenda • Purpose of cost transfers (GL expense transfers) • Accounts Payable and PCard - 700000 & 800000 budgetary account codes • Travel - 600000 budgetary account codes • Personal service - 500000 budgetary account codes • Uploads v. paper • Query criteria • AP Upload Example • Travel Upload Example • Personal Service Upload Example

  5. Purpose of cost transfers (GL expense transfers) • To correct any part of the chart field combination (CFC) i.e. Account code, Fund, Department, Program, Class or Project. • To move an expense to an alternate CFC.

  6. Accounts Payable, PCard, 700000 & 800000 budgetary account codes • Can be submitted as an upload or paper cost transfer. • Both forms can be found on the Financial Accounting and Reporting website http://www.gru.edu/finance/controller/finacctg/index.php

  7. Accounts Payable, PCard, 700000 & 800000 budgetary account codes (cont’d) • A completed paper cost transfer can be found on the Financial Accounting and Reporting website - How Do I? under View a Sample Form http://www.gru.edu/finance/controller/finacctg/finacctg_howdoi.php

  8. Accounts Payable, PCard, 700000 & 800000 budgetary account codes (cont’d) • The Budget Transaction Detail report or query can be used as backup. • MCG_GL_JOURNAL_LIKE_CFC is a good query to use. • Authorized Signature should match what is on file with Financial Information Systems and Reporting. • Person preparing cost transfers name should be legible, i.e. printed, and a contact number.

  9. Travel 600000 budgetary account codes • Travel, account codes that begin with a 6, need the employee Id. • Per Diem and Fees, account codes that begin with 751 and 752 need vendor Ids. • The employee and vendor Ids are used as the Open Item Key. • These accounts are required to be reported to the Georgia Department of Audits by employee and vendor.

  10. Travel 600000 budgetary account codes (cont’d) • The Budget Transaction Detail report or query can be used as backup. • MCG_GL_JE_LIKE_CFC_OPEN_ITEM is a good query to use. But this query will only pull account codes that have open items populated. Account codes like 714100 will not pull on this query. The query will only pull 6%, 751%, and 752% account codes.

  11. Personal Service 500000 budgetary account codes • Personal Service, account codes that begin with 5 or 723(College Work Study), need the Transaction Id or Report Id from the PERS_SERV_BOR table. • This table is used to reconcile to PeopleSoft HRMS. • These accounts are also required to be reported to the Georgia Department of Audits by employee.

  12. Personal Service 500000 budgetary account codes (cont’d) • You can find the procedures for payroll cost transfers on the Financial Accounting and Reporting website. The procedures include several queries. • http://www.gru.edu/finance/controller/finacctg/documents/payroll-cost-transfer-procedure-1_2.pdf

  13. Uploads v. Paper • Any cost transfer that is more than 10 lines will need to be submitted to financialcal@gru.edu as an upload. • Uploads save departments time and help limit keying errors. • Queries downloaded to Excel and used for the upload. • Approval can be via email, with a simple reply from the individual who is authorized to sign.

  14. Query Criteria

  15. AP Upload Example MCG_GL_JOURNAL_LIKE_CFC Query Query modified to use as an upload. JE amount column added as well as the CFC that the expense are being moved to, i.e. GCHCAF00100.

  16. Travel Upload Example MCG_GL_JE_LIKE_CFC_OPEN_ITEM Query Query modified to use as an upload. JE amount column added as well as the CFC that the expense are being moved to, i.e. GCHCAF00100.

  17. Personal Service Upload Example MCG_PAYROLL_BY_DEPTID Query Query modified to use as an upload. JE amount column added as well as the CFC that the expense are being moved to, i.e. GCHCAF00100.

  18. Questions/Answers

  19. References • Websites • GRU Controllers Division http://www.gru.edu/finance/controller/ • USG BOR Policy Manual http://www.usg.edu/business_procedures_manual/

  20. Conclusion • This concludes Cost Transfers (GL Expense Transfers) • If you have any questions, you may contact • Julie Wilson – juwilson@gru.edu, 706-721-9179 • Laura Craft – lcraft@gru.edu, 706-721-6235 • Barandy Brock – bbrock@gru.edu, 706-721-2903 • Andrea Bennett – anbennett@gru.edu, 706-721-2136 • Tania Harris – tanharris@gru.edu, 706-721-2135 • Thank you

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