4230 - Internal Transfers
Effective Date: September 5, 2013
Table of Contents:
.100 General .200 Control Responsibilities .210 Department/Office Providing Goods or Services .220 Department/Office Receiving Goods or Services .230 Office of Financial Reporting .240 Office of Cash & Investment .250 Office of Accounts Payable .300 Forms Preparation and Submission .310 Agency Transaction Voucher .311 Required .312 Where to Obtain Blank Forms .313 Number of Copies .314 Forms Preparation Instructions .315 Examples of Correctly Prepared Forms .400 Expenditure Credits and Recoveries
This section describes the use and preparation of the Agency Transaction Voucher (ATV). The ATV is designed to record accounting transactions occurring among several JMU departments. Examples of these transactions include charges for goods and services provided by Card Center, Special Events and Catering, Facilities Management, etc.
NOTE: JMU Copy Centers require departments to use their Duke Card, instead of an ATV, for payment of charges.
.200 Control Responsibilities
.210 Department/Office Providing Goods or Services
- Use the Electronic ATV
- Maintain departmental records to substantiate the entries on the ATV.
- Prepare ATV in accordance with instructions listed in subsection .314 of this section.
- Prepare ATV in the same month that the transaction occurs.
- Respond to inquiries from the department that received the goods or services.
- Must obtain responsible managers approval.
- Submit completed ATV with supporting documentation to the Office of Financial Reporting or indicate by check box that documentation is in departmental files.
- Review Summary Financial Report (refer to Section 3030, .210) or Monthly Detail Report. (refer to section 3030, .220) to determine that the amounts credited are correct.
.220 Department/Office Receiving Goods or Services
- Reviews Summary Financial Report or Monthly Detail Reports to determine the amounts posted are correct.
- Contacts the Department/Office that provided the goods and services regarding charges in question.
.230 Office of Financial Reporting
- Reviews ATV for accuracy and completeness for data entry.
.240 Office of Cash & Investments
- Answer questions regarding form preparation and other inquiries pertaining to ATV's.
.250 Office of Accounts Payable
- Answer questions regarding duplicate payments, keying errors and checks to be issued in lieu of credit invoices.
.300 Forms Preparation and Submission
.310 Agency Transaction Voucher
This form is required to record all transactions among JMU departments related to sales, services, recovery of costs, and transfers of expenditures and revenues among organizations within the same bank account.
.312 Where to Obtain Blank Forms
An electronic form is available online.
.313 Number of Copies
Complete one ATV form and retain one copy in departmental files.
.314 Forms Preparation Instructions
Following are detailed instructions for preparation of the Agency Transaction Voucher.
Enter the following information only, Financial Reporting will complete the other areas.
Speed Type Department: Enter the Department ID being charged or credited. Use a separate line for each department number being debited, and a separate line for each department number being credited. A listing of Department ID Numbers is available in Section 2010, .200 (Numerical sequence Chart) of this manual .
Debit Account: Enter the Expenditure or Revenue Account Number being charged. Use a separate line for each debit transaction. A listing of Expenditure and Revenue Account Codes is available in the Section 2015 - Expenditure Account Codes and Definitions and Section 2020 - Revenue Account Codes and Definitions (respectively) of this manual.
Amount: Enter the amount of each transaction; use a separate line for each Debit amount and a separate line for each Credit amount. (Debits must equal Credits)
Credit Account: Enter the Expenditure, Recovery or Revenue Account Number being credited. Use a separate line for each credit transaction. (See subsection .400 of this same section for recovery/expenditure credit definitions and examples)
Description: Enter a brief one-line description that applies to all transactions listed. Include Voucher Numbers or Journal Numbers for Expenditure Credits.
Recovery Department: Enter the department ID number on each line that has a debit amount being recovered. (USE THIS COLUMN ONLY WITH RECOVERY ACCOUNT CODES 119XXX; 129XXX; 139XXX, etc.)
Number of Lines: The number of lines completed will automatically be totaled. (DO NOT DELETE NUMBERS entered on this line since it will also delete the formula.)
Totals: The total of transactions listed on the lines above are automatically totaled on this line (Do Not Delete Numbers entered on this line since it will also delete the formula).
Prepared By and Date: Enter the name of the person that prepares the ATV and the preparation date.
Approved By and Date: Use the additional approval lines when the Office of Financial Reporting requires more than one approval signature.
Comments: Enter any explanatory comments concerning the transactions entered.
Use the check box if documentation is in departmental files rather than being attached.
NOTE: Debits must equal credits
.315 Samples of Correctly Prepared Forms
Correction of a keying error
Allocate costs among departments
Charge another department for a shared service
400 Expenditure Credits and Recoveries
An expenditure credit is used to properly distribute expenses or make corrections. This distribution or correction should generally be based on an expense previously recorded by voucher or ATV in the current fiscal year.
Examples of when an expenditure credit is used:
- A vendor sends a check to Cash & Investments for a duplicate payment made on an invoice. Cash & Investments determines the expense account coding on the appropriate voucher and then prepares a deposit transmittal crediting the same expense account codes from the original voucher. The voucher number will be noted on the form. A copy of the completed deposit transmittal form is sent to Accounts Payable who records this information on the associated vouchers in Peoplesoft. Accounts Payable makes a notation of this duplicate payment on the original vouchers which are filed in Accounts Payable.
- A keying error made by Accounts Payable. Accounts Payable prepares an ATV to charge the expense to the proper department and/or account with the voucher number cited in the description. The offset will be the expenditure credit to correct the error. A notation is also recorded on the associated voucher which is filed in Accounts Payable.
- A keying error made on an ATV. If the department makes the error, they are responsible for submitting the correcting ATV. If the keying error is made by Financial Reporting, they are responsible for submitting the correcting ATV. The department or Financial Reporting prepares an ATV to charge the expense to the proper department and/or account with the original ATV number cited in the description. The offset will be the expenditure credit to correct the error.
- In lieu of the vendor issuing a credit invoice to the department the vendor sends a check to Cash & Investments. After determining the appropriate department and account to be credited, Cash & Investments prepares the deposit transmittal. A copy of this completed form is sent to Accounts Payable and is filed with the associated voucher in Accounts Payable.
- A department supplies copy paper and the use of a copier for several departments. The department that purchased the paper and paid the lease on the copier would record the amounts on the ATV as an expenditure credit.
- A department received a check from an employee for personal phone calls. A deposit transmittal form would be prepared and the monies would be recorded as an expenditure credit to the same expense account where the phone call was originally charged.
A recovery is used to record monies received or to record reimbursement from other departments for services rendered.
Examples of when a recovery is used:
- Any department performs a service for another university department. The department that performs the service would record the amount on the ATV as a recovery.
- An E&G department performs a service for a non-university person/entity (Example: a department conducts a seminar during the summer for local middle school teachers. The participants pay a fee to cover the costs of the seminar).
- Central service providers (Examples: Facilities Management on the E&G side, Telecommunications on the Auxiliary side) that provide university wide services.
- The JMU Foundation reimburses university departments for specific costs incurred or provides support for university activities.
Recovery Codes that are most commonly used:
- XX9900 - E&G recovering from E&G or Grant, Aux recovering from E&G, Aux or Grant
- XX9600 - E&G recovering from Auxiliary only
- XX9940 - Recovery from JMU Foundation only
When preparing an ATV with a recovery, the debit account and the recovery code must be from the same chart of accounts category.
Example: If the debit account begins with 12XXXX then the recovery code must begin with 12XXXX. If the debit account begins with 13XXXX then the recovery code must begin with 13XXXX, etc.