Q: Can we change the transaction date for a budget transfer? A: The transaction date automatically defaults to the date the budget transfer request is entered. Therefore, it should not be changed. The only exception is at fiscal year-end, which the transaction date should be backdated to 06/30/XX.
Q: Why is a budget transfer with a miscellaneous account disapproved? A: Any expense incurred should be coded to a relevant account. Therefore, miscellaneous account (70850) should not be expensed at all. If there is any expense coded to this account, it should be reclassified to a more relevant account. If there are difficulties in identifying the proper account for an expense, please contact the Accounting Department.
Q: What should be noted under the description field for a budget transfer? A: Reference the items or services to be expensed. Some examples may be; Telephone new hire’s, Printer Replacement, Student Retreat, and Additional Office Supplies, etc.