Transfer Capital Project Funds

Purpose

The following guide is intended for employees to Create a Journal entry to Transfer Capital Project Funds.

Action

· Create Journal

Note: Central F&A (Capital Projects Central Administrator) will be the actor responsible for creating these journals for all capital/ constructed equipment projects except if funded by an IADF.

Terminology

· Journal: A journal is a subsidiary book of account that records monetary transactions according to accounting standards.

· Project Number: A number that uniquely identifies each project.

· Each project is assigned a 3 letter prefix depending on the type of project ( UFP- Facilities e-builder, SCP- UCMC shared, UCP- all other)

· For projects converted from FAS (added prior to 7/1/2024), the last 5 digits of account number is used with the 3 letter prefix (Ex: Uchicago Center in Paris- FAS- 881121, Oracle- UFP81121).

· For projects added in Oracle after 7/1/24, the number will be autogenerated starting with 1000000.

Create Journal

1. Select the Single-Sign-On button and then complete the sign-in steps.

2. Navigate and select the General Accounting module.

3. Select Journals.

Note: You can also use the navigator to get to the same place (3 parallel lines in the top left corner next to the UChicago logo).

4. Select the Taskbar.

5. Select Create Journal under Journals.

6. Enter Journal Batch, Journal Batch Description, Balance Type, Accounting Period, Ledger, Accounting date, and Category.

a. Balance Type: ALWAYS will be Actual

b. Period: ALWAYS will be defaulted to the current period

c. Ledger: ALWAYS be UChicago US

d. Category: Will ALWAYS be Transfer-CP for transfer for capital projects, non-capital projects, or constructed equipment projects

Note: For all Capital Projects, enter the capital projects fund at the beginning in the Journal Batch Description.

This can be entered as is or as part of other descriptive details. If the fund in part of the description, Central F&A can use this as a filter in the Journal Details Orbit Dashboard.

7. Under the Journal Lines section, add Line-1 Account entry for debit and Line-2 for Credit and the associated Debit and Credit amounts.

a. For Capital Project and Shared Construction Project fund transfers use account 95007.

b. For Constructed Equipment Project fund transfers use account 95011.

c. For Non-Capital Project fund transfers use account 95007.

8. Save your journal batch, mark it as Complete, and Post.

9. Select OK in the Approval confirmation popup.

10. Navigate back to the Journals work area. Use the taskbar to select Manage Approvals.

11. Here you will find your Journal in the Pending Approval from Others list.

After the Journal Entry is saved and posted, it will route for approval to an entity financial manager depending on the entity chosen for the debit and credit accounts.

You have now completed processing Transfer Capital Project Funds

Transfer Capital Project Funds | 04.19.2024