Transfer Journal Entries

Procedure Number: 5.3.18-P

Current Effective Date: 07/01/2023

Original Effective Date: 07/01/2023

Revision Dates: 0

Revision Number: 0

Revision Summary: Implementation of a new procedure

Responsible Official: Vice President, Administrative Services

References:

The procedure provides guidance on using transfer accounts in journal entries.

This procedure applies to all business units.

Transfer accounts should be used when transferring assets between funds or between business units.
Transfer journal entries require a debit and credit using transfer account codes. A transfer code and another type of account code cannot be used.
Transfer accounts are listed below.

	Expense Transfer Account		Revenue Transfer Accounts
AC	Description	AC	Description
90010	Tfer to Genl Funds – Fund 01	45100	Tfr from Genl Funds – Fund 01
90040	Tfer to Private Gifts-Fund 11	45105	Tfr from Fund 05
90050	Tfer to Grants/Contracts-Fd 12	45300	Tfer from Private Gifts-Fund11
90060	Tfer to Endmnts-Fds31/32/33/50	45310	Tfer from Grant/Contrct-Fd 12
90070	Tfer to Loan Funds-Fund 40	45500	Tfer from Endow-Fds31/32/33/50
90080	Tfer to Unexpend Plant-Fund61	45600	Tfer from Loan Funds-Fund 40
90110	Tfer to Invstmt In Plt-Fund 64	45210	Tfer from Unexpen Plant-Fund61
90112	Appropriations-Transfers-Out	45220	Tfer from Ret of Indebt-Fund64
		45112	Appropriations – Transfers-In
		45110	Unrestricted Transfers - SysOff

A college funds a project by transferring from Fund 01 or Fund 05 to Fund 61.
- Debit 90080 Fund 01 or 05 (Transfer to Fund 61)
- Credit 45100 (for transfer from Fund 01) OR
- Credit 45105 (for transfer from Fund 05)
A college uses a gift or grant to fund a construction project.
- Debit 90080 Fund 11 or 12 (Transfer to Fund 61)
- Credit 45300 (for transfer from Fund 11) OR
- Credit 45310 (for transfer from Fund 12)
A college transfers fixed assets to another college.
- College receiving assets debit 90110 (Transfer to Fund 64)
- College transferring assets credit 45220 (Transfer from Fund 64)