Accounting Office / Accounts Payable

Purpose:

To provide a means of transferring funds from one fund account to another where it is necessary for the transaction to post as a receipt and/or expenditure on the departmental statement. (Note: This transaction is primarily initiated by the Controller's Department staff.)

Limitations/Restrictions:

1. Both sides of the transaction must use one of the transfer class codes.
a.) Transfer class codes beginning with T0 are used for the accounts receiving funds.
b.) Transfer class codes beginning with T9 are used for the accounts that are being transferred.
c.) Please review the list to find the transfer class codes most appropriate for your purpose.

2. All FTTs will be subject to approval by the Controller’s Department.
3. All FTTs affecting 4XX accounts must be approved by Sponsored Programs Accounting.

How to Complete a FTT:

• Enter FTT in the T/C column.
• Amount to be moved.
• Fund-Account the amount is to be moved from.
• Section-Project of fund-account that the amount is to be moved from. Completion of this area is optional.
• Class code.
• An offset (O/S) indicator of 2 should be used for transfer class code beginning with T9.
• An override (O/R) indicator of O should be used if the account you are moving the amount from is closed.
• Fund-Account the amount is to be moved to.
• Section-Project of fund account that the amount is to be moved to. Completion of this area is optional.
• Class code.
• An offset (O/S) indicator of 2 should be used for transfer class codes beginning with T9, although it would be unusual to have a T9 class code on the TO side.
• An override (O/R) indicator of O should be used if the account you are moving the amount to is closed.
• Explanation for the transaction.
• Department head signature and date.

Routing:

If the FTT involves any 4XX accounts, send to the Sponsored Programs Accounting Office, 3609 Administrative Services Building. Send all others to the Accounting Office, 3606 Administrative Services Building.

Please call Carole Gill at 294-5181 if you have any questions.

Last Updated July 27, 2007.