B. General Instructions
C. Preparation of an Online Initiating Intercampus Financial Journal
D. Tips on How to Prepare Intercampus Financial Journals
E. Fiscal Close Deadline for Initiating Intercampus Journals
The purpose of this document is:
- to summarize general information regarding intercampus financial transactions;
- to discuss the use of the Intercampus Lines tab;
- to give some tips on preparation of intercampus financial journal entries. This document assumes you have a working knowledge of financial journal preparation in the Berkeley Financial System General Ledger (BFS-GL).
Intercampus financial transactions are created when University of California-Berkeley (UCB) departments do business with other campuses or Office of the President (OP) departments. Since UCB departments cannot access other campus' and OP's general ledgers, intercampus financial control accounts are used in BFS-GL to record these transactions. (The intercampus financial control accounts are used for financial transactions only, not budgetary transactions.)
Intercampus financial journals, commonly called Recharge Journals or Intercampus Order and/or Charge (IOC), are used for billing of expenses. After the UCB department completes the initiating journal, the other campuses or UCB Financial Accounting and Controls team, on behalf of OP, produce responding journals to finish processing the transaction so that it is reflected in the general ledger of the other campus or OP. In other words, intercampus transactions are recorded using sets of reciprocal entries: debit entries to the financial control account on the general ledger of one campus correspond to credit entries to the appropriate financial control account on the general ledger of the other campus.
Note: Transactions between Berkeley departments and OP or ANR departments at Berkeley, i.e., "J-Berkeley" departments, are processed like transactions between any two Berkeley departments. They are not intercampus transactions and do not require information associated with intercampus transactions. "J-Berkeley" departments include the UC Energy Institute, the Institute of Transportation Studies, and some departments within the Division of Agriculture and Natural Resources (DANR).