Cost Transfer Procedures

During the life of the award (i.e., not at award closeout), process all cost transfers within 120 days of the close of the month in which the original charge posted to the ledger.

Once an expense has been recorded in the general ledger, a cost transfer is required to change or correct that entry. Please keep the records straight and make the transfer in the system that originated the charge (for example, Payroll system for payroll costs). The transfer will post from the subsidiary system to the General Ledger.

Please refer to the Cost Transfers/Expenditure, Revenue, and Balance Sheet Adjustments page for more information.

Journal expense transfers processed in BFS require a complete 10-field C&G chartstring, which includes PC Bus Unit, Project and Activity IDs. This also applies to multi-line financial journals. Please use the CoA Validation page in BFS to verify the PC chartfields for your chartstrings.

Please refer to Processing Journal Transactions within BFS and Entering PC Chartfields into Financial Journals for more information.

Process payroll transfers by the 120 Day deadline. Please refer to the 120 Day Payroll Calculation for Cost Transfers page for more information. Special procedures and forms exist for requesting a Late Payroll Cost Transfer exception during the life of the award. Please note: separate payroll procedures are in effect during the award closeout Adjustment Period.