When submitting a General Ledger Transfer in KFS or completing the cost transfer request form, please address all of the following items:

• Justification – provide a detailed explanation that justifies the need to transfer an expense that had been previously approved on another account. Include in your justification why the charge was originally charged to the account from which it is being transferred and how the expenditure benefits the new account.
• Required Documentation – At the time you submit your request on-line, provide SPS with copies of supporting documentation, if any. If a cost transfer pertains to salary adjustments please provide copies of the approved payroll authorizations.
• Timeliness – process all cost transfers within 90 days after the end of the calendar month in which the transaction appears on the University’s month end accounting statements and within 90 days of the end date of the project

 

The following list represents some acceptable reasons for cost transfers between accounts:

• To correct a clerical error on an original transaction (e.g. a transposition of account numbers)
• To transfer sponsor approved pre-award costs to a sponsored account once it has been established
• To transfer salary to align with actual effort devoted
• To transfer expenditures to a new account number representing new budget period for the same award
• To remove expenditures determined to be not allowable/allocable to this account after review of account financial statements
• To move costs resulting in an account overdraft to an unrestricted account
• To move expenditure in part or in whole for items that were later used for purpose/project other than originally intended or determined to benefit more than one project

 

The following list represents some unacceptable reasons for cost transfers between accounts:

• To transfer costs to resolve an account overdraft to another sponsored account
• To transfer costs to spend the balance of an award

 

Departments should submit a cost transfer via the General Ledger Transfer edoc within KFS for sponsored awards and related accounts (e.g. match accounts) except for:

• Payroll cost transfers
• Expenses that are currently charged to a non-project account that posted in a prior fiscal year
• Direct cost overage of less than $25

Guidance for General Ledger Transfers

Departments should submit a cost transfer via the online cost transfer request form for the following:

• All payroll cost transfers
• Expenses that are currently charged to a non-project account that posted in a prior fiscal year