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 back dated 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 for new hire, Printer Replacement, Student Retreat, and Additional Office Supplies, etc.