Use this page to transfer budgeted expenditure or revenue amounts from one project-account to another. Following are some of the guidelines related to transfers:
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Each transfer requires at least two entries. The first identifies the project-account providing the budgeted amount (From Amount), and the second identifies the project-account receiving the amount (To Amount).
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You can transfer amounts from one project-account to multiple project-accounts, as long as they are within the same fund.
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While you cannot transfer amounts between funds, you can have transfers within more than one fund in the same transaction record.
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The totals of the From Amount and To Amount for each fund must be equal before to save a record.
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The system generates two transaction records for each individual transfer, one for the From Amount and one for the To Amount.
Menu Path: Fund Accounting > Entry & Processing > Budget Ledgers > Project Ledger > search for and select a record > click Transfer on the Action Bar
Transferring Project Budget Amounts
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Select Fund Accounting > Entry & Processing > Budget Ledgers > Project Ledger to display the Project Budget Transfer page.
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In the Selection Criteria section, enter criteria to identify the records to list, and then click Find. To run an advanced search, use the Advanced button.
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Select the record you are transferring funds from, and then click Transfer to display the Project Budget Transfer page.
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If needed, click Set Period on the Action Bar to change the Period or Transaction Date for the transfer. Click OK to save your entries and return to the Post Budget Transfers page.
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In the Transfer Number field, enter a number to identify the transaction.
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If the User Assigned BT (Budget Transfer) Number field in your Fund Accounting Profile is not selected, the system defaults the next available sequential number. You may change this to another unique (unused) number, if needed.
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In the Description field, enter a brief description of the transfer.
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In the Control Number field, enter a number to track the transfer in the Fund Accounting > Entry & Processing > Detailed Displays > Transactions option.
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Clear the Continuous checkbox. If you are transferring funds for most of the records found in your search, you can keep the box selected but usually transfers are done for accounts that are selected individually.
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Click OK.
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On the first row in the Transfer section, tab through the *Project* and Account fields, and then enter a brief description in the Description field.
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In the From Amount field, enter the amount you are transferring from the current project-account combination. Tab through the To Amount field to accept its 0.00 default.
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On the next row, enter the *Project*, Account, and Description for the project-account receiving the transfer.
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Tab through the From Amount field to accept its 0.00 default, and in the To Amount field, enter the amount being transferred to the current project-account combination.
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If needed, repeat Steps 12-13 if the From Amount is being transferred to more than one account. Make sure the total from the To Amount fields equals the value in the From Amount field.
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Click OK to post the transfer and return to the Project Budgets page.
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To enter a transfer for another record in the current list, repeat Steps 3-15.
Fields
Header Section
Use this section to identify the transfer record.
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Field |
Description |
|---|---|
|
Transfer Number |
Key number identifying the transaction.
To access the transfer in the Fund Accounting > Entry & Processing > Detailed Displays > Transactions option, enter this number in the option’s Journal Entry Number field. |
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Description |
Brief description or reason for the transfer. Character/25 |
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Control Number |
Number to track the transfer. Character/8 To access the transfer in the Fund Accounting > Entry & Processing > Detailed Displays > Transactions option, enter this number in the option’s Control Number field. The system generates two records for each individual transfer, one for the From Amount and the other for the To Amount. |
Transfer Section
Use this section to identify the project-account combinations used in the transfer. The from and to amounts should be entered on separate rows.
|
Field |
Description |
|---|---|
|
*Project* |
Low organization either providing the transfer amount (From Amount) or receiving the transfer amount (To Amount). |
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Account |
Account associated with the project. You can only transfer amounts between accounts of the same type (expenditures or revenues). |
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Description |
Brief description or reason for the transfer being made either from or to the current project-account. Character/25 |
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From Amount |
Amount being transferred from the project-account identified. If you are entering a To Amount, leave this field at its 0.00 default. |
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To Amount |
Amount being transferred to the project-account identified. If you entered a From Amount, leave this field at its 0.00 default, and use the next row to enter the To Amount. |
Totals Section
The following display-only fields provide budget information for the project-account combination on the current transfer line.
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Field |
Description |
|---|---|
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Total |
Two totals, the first for the From Amounts and the other for the To Amounts.
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Current Budget |
Total amount budgeted for the project-account. |
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Expenditure Or Revenues |
Total expenditures in the fiscal year to date for an expenditure project-account. If this is a revenue record, then the field shows the total revenues recorded. |
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Encumbrances Or Receivables |
Total encumbrances in the fiscal year to date for an expenditure project-account. If this is a revenue record, then the field shows the total receivables recorded. |
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Budget Balance |
Total expenditures or revenues remaining in the fiscal year for the project-account. The system uses the following formulas to calculate the expenditure or revenue balance: Expenditure Budget Balance = Total Budget - (Expenditures + Encumbrances) Revenue Budget Balance = Total Budget - (Revenues + Receivables) |