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To:      Business Managers
University Accounting Personnel

From:  Chandrika Rao, Director, Accounting Services
Vanessa Peoples, Director, Reporting & Cash Management, OSR

Date:  February 5, 2010

The Finance Division is pleased to announce Residual Funds Transfer journal entries can be submitted using the online journal entry system effective immediately.

This entry is designed to transfer account balances remaining after a contract or grant has closed, from OSR ledger 4 accounts (with ABR method of 4), and ledger 5 accounts, to existing university residual fund accounts, per the terms and conditions of the agreement.

The online journal entry system is accessed through Finance Central. A link to Finance Central is found on the Finance Division Training web page. There is an online manual located on the same Web page.

  • All users should review the manual prior to submitting residual funds transfer entries online.
  • All departments will be required to use the online journal entry system for residual fund transfers effective March 1, 2010.

Please share this information with your FRED administrator, staff, and faculty as appropriate.  If you have any questions, please contact the Office of Sponsored Research at 919-966-3411.

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