Cost Transfers
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Journal Entries

Each month the UGLS1074 statement should be examined to determine if all charges have been applied correctly.  Each grant cost center is expected to be verified and reconciled on a monthly basis.  Error corrections (except for salaries which will be discussed in the next paragraph)  require journal entries.  This document prepared by the Grant Accounting office must contain the reason for the transfer, the original document number, the amount of the transfer, and the cost center and account numbers involved.  To clear an overdraft is not an acceptable reason for the transfer that charges another sponsored project.  The cost must belong to the cost center being charged.  If an error is discovered after 90 days the journal entry must also contain an explanation for the delay in processing.

Salary Reallocations

Salary reallocations may be made if, any only if, Employment Services and Operations records have been corrected to reflect the change.  If the charge is more than 90 days old, there must be justification for the delay.  Salary reallocations should be sent to Grant Accounting office for approval.

Up to Grant Accounting

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