Prepare Transfer Journals for Fund 191 and Fund 193 in NUFinancials

This guide explains how to prepare and submit transfer journals for Fund 191 (mandatory cost sharing) and Fund 193 (voluntary committed cost sharing).

Transfer journals are used to move funding from one chart string to another using 80000 series account codes. While transfer journals cannot be entered for 600s/grants sponsored programming, they may be used for cost sharing transfers.

It is recommended that departments transfer funds from cost sharing sources into the sponsored project chart string on a timely basis, ideally before fiscal year-end or the project end date, whichever is earlier. These are the amounts committed to the sponsored project on Fund 191 and Fund 193. These cost sharing funds were committed at the time of the proposal with a Cost Sharing agreement letter.

The department that committed the funds initiates the transfer journal. All other departments participating in the cost share will provide the project department with the necessary chart strings.

Create an Actuals Journal to transfer the revenue committed by the department to the project.

Log in to NUFinancials: nufin.northwestern.edu

Navigation: Navigator > NU Actuals Journals > Add/Update Actuals Journal 

  1. Select Transfer Journal.
  2. Click Create Journal.

Journal01

  1. Review the Notes and Journals rules prior to entry and submission. Verify the appropriate accounting date for your transaction; the default is set to the current date.

Journal02

  1. Enter a reason and description; include Project ID, Project PI and Project Name.
  2. Enter the chart strings involved in the transfer of funds. Refer to Recommended Transfer Accounts.
  3. Attach additional documentation if needed to support entry.
  4. Click Save & Submit.

Journal03

You can track the status of your entry via the Workflow link in the header of the journal.

Note: If you receive an error when trying to submit, the account code may not be open on the grant budget. Contact ASRSP for resolution.

Departments must verify that the actuals journal was successful and processed. Use the GL005 Summary Budget Status report for Fund 191 and Fund 193 or the KK Budget Overview.

Note: The chart string that is transferring funds can be most non-grant funds, such as designated, gift, endowment or appropriated (cannot be 800s/plant or 700s/agency).

Cost Sharing Fund Reference

Fund

Effective Date

Description

Uses

191

January 1, 1901

Mandatory Cost Sharing

Required cost sharing as part of proposal on salary and non- salary costs, F&A is not reimbursed on these costs

192

September 1, 2013

Over-the-Cap Commitment

For salary amounts over the federal salary cap limit, F&A is not reimbursed on these costs

193

September 1, 2013

Voluntary Committed Cost Sharing

For salary and non-salary amounts voluntarily committed to the project by Northwestern sources, F&A is reimbursed on these costs


See Also:

For additional assistance please contact the IT Support Center at 847-491-4357 (1-HELP) option 2, or consultant@northwestern.edu.




Keywords:"cost share" "cost sharing"   Doc ID:111639
Owner:ESAF GM Team .Group:Northwestern
Created:2021-06-14 10:22 CDTUpdated:2021-08-06 08:54 CDT
Sites:Northwestern
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