askus icon

Handbook of Business Procedures

Date published: 
Last revised: 
Issued by: 

Nov. 21, 2011
Nov. 21, 2011
Financial Accounting Services

 

Part 4. Fund Transfers - Table of Contents


4.2.2. VOUCHER ADJUSTMENTS AND CORRECTIONS - VT6 GUIDELINES

A. Purpose

*DEFINE VT6 – Interdepartmental Transfer (IDT) Correction of Charges documents are used to make changes to documents that are final approved. These changes may include making corrections to object codes and amounts, or moving transactions between departmental accounts.

B. Allowed Transactions

  • Changes to Documents
    Departments can only make changes to VC, VP, VT5, and VT6 documents for full or partial amounts. VP4 documents cannot be corrected. The original transaction must exist on a completed document for any change to be made. Note: If the creator of a VT6 document is the same person who created the original document, it will follow the same routing path as the original document. Otherwise, it will follow the routing path of the credited account.
  • Gift Transfers
    Once a 30- holding account accumulates the minimum amount required to open a 57-account, a VT6 document is the preferred method of transferring gifts allocated for endowment from the 30- holding account into a 57- long term investment account. For more information, see 2.2.6. Gift Funds – 30-Accounts and 2.2.11. Endowment Funds – 57-Accounts
  • Correcting Endowment Gift Deposits to or Transfers from 57-Accounts
    Once an entry posts to a 57-account, that entry can only be corrected by Financial Accounting Services (FAS) and Endowment Services. If an endowment gift deposit or transfer must be corrected, departments must not reverse the gift deposit or transfer from the 57-account in *DEFINE. This includes transfers between 57-accounts and transfers from 57- to 30-accounts. All requests must be directed to the FAS team in the Office of Accounting.

C. Rules and Restrictions

 

 

Part 4. Fund Transfers - Table of Contents