Expense Transfer versus Journal Voucher
Expense Transfers should always be used first. Expense Transfers start by choosing a posted expense from the budget and therefore carry the initial debit information and only changes must be entered, can be both initiated (prepared) and submitted (approved) by a single person with Expense Transfer access in ASTRA and require no additional documents for audit support. Additionally, for salary expense transfers, MyFD will calculate and transfer associated benefit expenditures, using the correct historical rates.
Journal Vouchers, on the other hand, are only used in cases where no expense is shown on the budget (i.e. General Ledger or Fund accounting), or the expense cannot be corrected with an Expense Transfer (i.e. Revenue). Journal Vouchers must be started from a blank form with both the debit and credit entered, require both a separate initiator (preparer) and approver in the department and require support documents to be attached.
Accountability and Transparency
- Ensure that transactions are allowable, acceptable and accurate, and document this in the reason for the transaction. MyFD does not validate the reason for transfer; the preparer (initiator) must perform that function.
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Read all warnings and errors for each transaction before submitting. It is the responsibility of the submitter to ensure that transactions are correct and compliant.
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When asking a preparer to correct a transfer before submitting, the reviewer should add a note detailing why the transaction has not been submitted as prepared.
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When creating a transaction that affects a budget outside your department or organization code, notify the impacted department.
- A principal investigator may delegate authority (as referenced in GIM 15), in writing or email, to an individual to sign for expenditure transfers to or from another budget. If no blanket authorization exists on file, copy and paste the authorizing email from the PI into the notes.
Preparation and Reconciliation
- Set up an advance budget. My Worksheet is not intended as a place to collect numerous transactions while waiting for a budget to open.
- Determine, within each department, the workflow between preparers and submitters for MyFD transactions.
- Submit transactions promptly, to allow time to address unexpected errors or system issues.
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For MyFD JVs, thoroughly review your JV support documents for any Personally Identifiable Information (PII) such as social security numbers, birthdates, addresses and/or bank account numbers. Any PII must be redacted prior to attaching in MyFD as JV support documents are official UW records.
- Follow suggested guidelines on reconciliation.