Cost Transfer Procedures

During the life of the award (ie., not at award closeout(link is external) (Google Doc)), 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. Keep the records straight and make the transfer in the system that originated the charge (e.g. Payroll system for payroll costs); the transfer will post from the subsidiary system to the General Ledger.  

Journal expense transfers processed in BFS require a complete 10-field C&G ChartString (includes PC Bus Unit, Project and Activity IDs).  This also applies to multi-line financial journals; use the CoA Validation page in BFS to verify the PC ChartFields for your chartstrings. Go to the CGA Training page for instructions on how to enter PC Charfields into journals.

Process payroll transfers by the 120-day deadline. Special procedures, forms exist for requesting a Late Payroll Cost Transfer Exception during the life of the award (note: separate payroll procedures are in effect during the award closeout Adjustment Period).

Read about Recharge processes and services.