Expense Transfers

Cost transfers are conducted through the "Cost Transfer" module in ACCTS. This system only handles non-payroll related direct costs. Take the following steps to create a transfer...

  1. Go to accts.uchicago.edu and select the "Cost Transfer" module.
  2. Enter your CNET id and password.
  3. At the initial screen you can check the status or retreive the details of your submitted transfers, edit saved transfers, withdraw submitted transfers, or create new transfers.
  4. Select the type of transfer desired: Journal Voucher (JE), Expense Transfer (EE), or Interdepartmental Transfer (DD) for direct data entry. Alternatively, you can upload a spreadsheet (using the JE template or EE template available in ACCTS) to process a JE or EE using the "cost transfer" dropdown menu at the top.
  5. If using the direct data entry method, enter the 10-digit debit and credit accounts, PO#, post date, control #, description, amount, batch reference number, and batch date for each line item expense that will be transferred. All of this should be entered according to how the the original expense is logged in FAS. The shaded fields are optional, but should be used when the data exists. When complete, click on the "add" button. Repeat as necessary. The import button at the bottom can be used to import a spreadsheet at this time rather than manually enter the data, but do check to ensure that the import operation is executed accurately.
  6. When all line items have been added, select an appropriate explanation from the dropdown list. If "other," type in a brief but detailed reason. (e.g. "to correct an error" is too vague of a reason)
  7. Files can be attached to provide additional explanation or justifying documentation (e.g. late cost transfer forms).
  8. When everything is complete, click the "submit" button.
  9. Print or save the generated transfer form for your records.

Although multiple different pairs of credit/debit accounts can be on the same transfer, it is best to limit the accounts used to a single related action rather than using a single transfer for multiple unrelated situations.

NEVER transfer payroll expenses or automatic charges such as benefits, tuition support, and indirect costs with this system. Another system handles payroll transfers and indirect costs are automatically adjusted. Any manual adjustments to indirect costs, or other automatic charges, should be done by Financial Services.

For DD transfers check with the relevant University office to make sure they accept payment in that form.

If Financial Services rejects the transfer, you do not need to start from scratch. Log-in and locate the transfer that was rejected. Then select it and click on "edit." Transfers with a status of "processed" or "batched" cannot be edited or withdrawn. If you submit a transfer that you later realize is incorrect, immediately log-in to withdraw the transfer before it is approved and batched for processing.

When transfering amounts to or from accounts that you do not manage, always contact the administrators of those accounts to let them to confirm their approval and send a copy of thre transfer form for their records.

Funding Unrestricted Accounts

Unrestricted accounts are typically funded through JE transfers. When doing so, use subacount 9415 for both the debit and credit accounts. Also be sure to indicate the purpuse of the transfer (e.g. "annual department support for research incentive account"). Transfers to multiple different accounts can be executed with a single transfer if they are for the same purpose.

Lump Sum Transfers

It is possible to transfer an undifferentiated sum of expenses between accounts. Such transfers are called a lump-sum transfers. A special subset of subaccounts are used for them in the 9600-9700 range. The 96XX series is used for the debit account and the 97XX series is used for the credit account whereas a normal expense transfer usually has identical subaccounts for the credit/debit accounts (unless the expense was initially posted to an incorrect subaccount). Lump-sum tansfers should be used very sparingly. A lump sum expense transfer and a journal voucher function very much the same except that the former are restricted to a special subset of credit/debit subaccounts.