Business and Financial Services

Accounts Payable

Journal Entry Transfers

  1. Purpose

    To communicate the policies for departments making transfers between entries in the general ledger.

  2. Overview

    Departments may request a journal entry transfer when they want to transfer funds from one account line to another, or from one fund to another. In order to process the transaction, the department making the transfer request must fill out the two-part Journal Entry Transfer Request Form. The yellow copy is retained by the department submitting the request, and the white copy is sent to the Office of Business and Financial Services for processing.

  3. Filling out the journal entry transfer form

    • The name of the submitting department and the date of the request is required at the top of the form.
    • The next portion must contain the account information of the account, and must indicate whether this transaction is a debit or credit, and the amount of the transfer. The second line must contain the information of the account that the money has been transferred to, and the amount of the transfer.
    • For instance, if the first line of the form indicates an account that is charged $100, the account numbers must be entered, and then the correct box must be marked for the debit/charge. In the description, the amount of the transfer is required. The second line must then contain the numbers of the account that is credited with $100, and the box marked credit, must be checked.
    • Below this portion, an explanation of the entry is required, and this explanation will be visible in the description section of the monthly budget report printout. The form must be signed and approved by the person with budgetary authorization within the department, and then submitted to the Office of Business and Financial Services.