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
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|
|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|
4. Examples of College-level Transfer Journal Entries
- 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)