Transfers

Transfers vs. Internal Allocations

Transfer= the movement of monies from one fund to another fund.  Transfers are used for:

  • Goods or services reimbursement – transfers over $2500
  • Funding moves to plant funds
  • Debt principal/interest repayment
  • Funding for a project or request for general support
  • To cover a deficit fund balance

Transfers are journaled using the 81/8O series account codes

Only members of the Budget and Accounting Services Staff are allowed to process transfer entries

Internal Allocation= the movement of monies within one or more  funds or the apportioning out of specific expenses among different budget groups.

  • Internal allocations are journaled using the 76 series of account codes
  • Used in lieu of checks to pay another USNH school for goods or services provided
  • Generally done for transfers under $2500.  May be done as a transfer if over $2500
  • Reimbursement of internal services such as printing/copying, rental of space, cleaning, telecom, and ITS svcs.

Only members of the Budget and Accounting Services Staff are allowed to process internal allocation entries.

  When in doubt, contact the Budget and Accounting Services Office.

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