Can I perform labor redistributions on wages previously charges to state funds?
A. If the wages were incurred on the current year state fund, labor redistributions are allowed. If the wages were incurred on the prior year state fund, and the lapse period is over, it is not appropriate to transfers the charges off the state fund. Performing a transfer such as this creates a balance in fund 300011 (Payroll Suspense Fund) because the fund code has been inactivated. If your organization has a balance involving this Payroll Suspense Fund, it needs to be investigated and corrected with labor redistributions. Questions regarding the appropriate method of clearing balances in the Payroll Suspense Fund can be directed to University Accounting and Financial Reporting (UAFR), 217-333-4568.
Related Questions
- I understand that I must complete a Form I-9 for anyone I hire to perform labor or services in return for wages or other remuneration. What is remuneration?
- I understand that I must complete an I-9 for anyone I hire to perform labor or services in return for wages or other remuneration. What is "remuneration"?
- Can I perform labor redistributions on wages previously charges to state funds?
