Contributed by Danielle Hancock
An Expenditure Credit is an Incidental, non-recurring expenditure transactions that either (a) originate from a previous disbursement for University business, where some portion of the payment is returned by the original recipient, or (b) are a reimbursement to the University for expenditures originally incurred in total by the University, but for which another organization has agreed to share the cost. See FIN-50: Recording and Depositing Expenditure Credits.
Expenditure Credits are processed as Ad Hoc Bank Transactions (AHBT). It is important when completing an AHBT that you select the worktags that the transaction was originally charged to, including the expense ledger account (5000/6000 level) and the spend category. You should never use a revenue ledger account (4000 level) or a revenue category when completing the Ad Hoc Bank Transaction.
The Ad Hoc Bank Transaction QRG and other expenditure credit resources have been updated to make this clearer. We also removed old resources from the website, so you may need to update bookmarks.
Resources related to Expenditure Credits:
Expenditure Credits are processed as Ad Hoc Bank Transactions (AHBT). It is important when completing an AHBT that you select the worktags that the transaction was originally charged to, including the expense ledger account (5000/6000 level) and the spend category. You should never use a revenue ledger account (4000 level) or a revenue category when completing the Ad Hoc Bank Transaction.
The Ad Hoc Bank Transaction QRG and other expenditure credit resources have been updated to make this clearer. We also removed old resources from the website, so you may need to update bookmarks.
Resources related to Expenditure Credits:
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