What is the Business Office process for fund and expense transfers?
• Each transfer request is received in the Business Office and date stamped. • The transfer is routed to the appropriate individual. • Expense transfers go to the Business Office Representative. • Deposit corrections go to the Office Associate. • Fund Transfers go to the Jesse Buxton. • Each request is reviewed and audited for accuracy and compliance with University, State and Federal policy. • The transfer is entered into the PeopleSoft system and assigned a journal ID number. • The journal electronically routes to appropriate approvers. • Once approved, the journal goes through a nightly checking and posting process which posts the journal to the general ledger. The Business Office strives to enter expense and fund transfers in the month requested. Many things, including inaccurate completion of the form, can keep the Business Office from meeting its timing standards.
