General Accounting

Departments may request a journal entry transfer when they want to transfer funds from one account line to another, or from one fund to another. In order to process the transaction, the department making the transfer request must fill out the two-part Journal Entry Transfer Request Form. The yellow copy is retained by the department submitting the request, and the white copy is sent to the Office of Business and Financial Services for processing.

• The name of the submitting department and the date of the request is required at the top of the form.
• The next portion must contain the account information of the account, and must indicate whether this transaction is a debit or credit, and the amount of the transfer. The second line must contain the information of the account that the money has been transferred to, and the amount of the transfer.
• For instance, if the first line of the form indicates an account that is charged $100, the account numbers must be entered, and then the correct box must be marked for the debit/charge. In the description, the amount of the transfer is required. The second line must then contain the numbers of the account that is credited with $100, and the box marked credit must be checked.
• Below this portion, an explanation of the entry is required, and this explanation will be visible in the description section of the monthly budget report printout. The form must be signed and approved by the person with budgetary authorization within the department, and then submitted to the Office of Business and Financial Services.

The procedure for obtaining goods and services from a University department:

• The department initiating the transaction must fill out an interdepartmental requisition form. The form is a four-part, multi-colored document and should be distributed appropriately.
• The white copy must be sent to the department supplying the product or service as a record of the transaction.
• The yellow copy must first be sent to the supplying department, who will forward this copy to the Accounts Payable department upon completion of the transaction. Accounts Payable will use this information to charge and credit the appropriate departments.
• The pink copy must also be sent first to the supplying department. The supplying department must return this copy to the initiating department once the service is performed or the goods are delivered. This document is the delivery record for the transaction and also informs the initiating department of the cost of the requisition, if it was not already known.
• The goldenrod copy is retained by the initiating department as a record of the order.

• The top left section of the form (marked person requesting service) must contain the initiating department’s name, telephone extension, and the name of the contact person. The top right section (marked department that will provide the service) contains the name of the supplying department and the date that the service is needed.
• The next section requires a description of the service or goods and the amount to be charged. In the column marked quantity, enter the number of items required, if applicable, then the description of the type of goods or service. The unit price is included if applicable, and then a total amount of the service is entered in the last column.
• The third section contains the accounting information of the initiating department. Enter the INDEX, FUND, ORGN, or ACCT numbers where indicated, and also include the total cost of the service in the box marked amount. This section allows Accounts Payable to charge the correct account of the initiating department.
• The form must contain the approval signature of the authorized person within the initiating department, and the date that the form is filled out. Then the three parts of the form (except for goldenrod copy marked requester) must be sent to the department providing the service to fill out the bottom portion of the requisition so that the transaction may be completed.

The Fund code includes up to six characters indicating the type of fund to which the account belongs. The first two digits of the code indicate the fund source of the account.

• 10XXXX – Operating expenses. 10OPER, 10COPA, 10RENT, and 10HOUS all fall into this category.
• 15XXXX – Designated funds that are segregated from operational funds for reasons determined by management. Short term project, special events, and student organizations fall into this category.
• 20XXXX – Restricted spending accounts primarily funded by earnings from an endowment.
• 21XXXX – Funds restricted by donor for particular purposes. This category is also funded by earnings.
• 2AXXXX – 2ZXXXX, 23XXXX – 24XXXX – Federal, state, local, and private grants.
• 40XXXX – Student loan funds.
• 60XXXX – True endowments and funds functioning as endowments.
• 71XXXX – Annuity funds.
• 72XXXX – Unitrust funds.
• 80XXXX – Plant funds for the physical facilities of the University.

The Organization code (ORGN) primarily correlates to a departmental budget, and general indicates a department or a cost center or projects within a department. Some organizational codes are restricted to University revenues.

The Accounting code (ACCT) correlates to the exact expenditure of the account.

• 1XXX – Asset, referring to the balance sheet account.
• 2XXX – Liability, also referring to the balance sheet account.
• 3XXX – Control account to the General Ledger.
• 4XXX – Net asset and/or a fund balance.
• 5XXX – Revenues.
• 6XXX – Compensation, including payroll and fringe benefits.
• 7XXX – General expenditure account.