Cost Share Balance

[Jerian Lind]

Hi Everyone,

I funded some cost share lines at the end of FY14, but when effort certification came up this past summer for FY14, cycle 2, I ended up removing cost share expenses directly to the projects (keeping effort in tact, but charging the grant where appropriate).  

The problem is, now I have balances in my cost share strings, and no expenses to offset.  I don't anticipate these cost shares will be used going forward.  How do I move the balance out of the cost share string and back on on to the funding/base chartstring?  I don't think you can do a transfer out when a project is involved, even though it's technically a nonsponsored chartstring.

Thoughts? Advice?

[Iris Wang]

This is what we do in our department:  You use debit for the transfer in account and use credit for the transfer out account to move the revenue off the cost share account string back to where you originally funded.  This method is verified by Central Accounting. 

[tk]

What Iris is saying seems counter-intuitive, but is what we have found is the only way to get your costshare funding correction made.

So for instance, a normal costshare account requiring "funding" would appear as:
1000-10986-20000-grant-cs ($800)     (expense sitting in the account)
To fund that "normal" situation you would have done the transfer codes:
1000-10986-20000-grant-cs-600203  credit $800   (putting money into this account)
1000-10986-20000                610203  debit  $800   (taking money out of this account)

This is what Jerian could have seen after removing her some of costshare to the grant:
1000-10986-20000-grant-cs $500
To fund this, you would use the same transfer codes but change the signs of your amounts (debit/credit)
1000-10986-20000-grant-cs-600203  debit $500   (taking money out of this account)
1000-10986-20000                610203  credit  $500 (putting money into this account)

Hope that helps!