NEW IRR PROCESS

Explore the complexities of the Intercampus Reimbursement Request (IRR) process within Multi-Campus Agreements (MCA) for expense reimbursements between campuses. Discover the evolution from the old accounting process to the implementation of a new system for enhanced transparency in financial entries.

• Intercampus Reimbursement Request
• MCA
• Accounting Process
• Multi-Campus Agreement
• Financial Transparency

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Uploaded on Mar 19, 2024 | 0 Views

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1. NEW IRR PROCESS Contracts and Grants Accounting July 17, 2023 FINANCE

2. Intercampus Reimbursement Request (IRR) The IRR is the invoice one campus sends another to be reimbursed for expenses on a Multi-Campus Agreement (MCA) Multi-Campus Agreement is the written agreement between campuses to transfer part of a sponsored project s funding to another campus. FINANCE

3. IRR OLD ACCOUNTING PROCESS MCA From UCD to Sister Campus IRR: Sister campus bills UCD or UCANR for expense reimbursement INITIAL BUDGET -- $ PLANNED TO GO TO OTHER CAMPUS(ES) BUDGETED INTO SBMC IN DEPT EXPENSE ACCT WHEN UCD PAYS OTHER CAMPUS, WE MOVE BUDGET FROM SBMC IN DEPT EXPENSE ACCT TO THE UNEXPENDED BALANCE ACCOUNT FINANCIAL ENTRY WHICH ACTUALLY PAYS OTHER CAMPUS RECORED IN UNEXPENDED BALANCE TO UNDERSTAND STATUS OF IRR PAYMENTS YOU MUST LOOK AT BOTH THE EXPENSE AND UB ACCOUNTS THIS CAN BE CONFUSING FINANCE

4. MCA FROM UCANR TO UCB -- LEDGER EXAMPLE FINANCE

5. MCA FROM UCANR TO UCB -- LEDGER EXAMPLE Is this confusing? Yes! But wait, there s good news . FINANCE

6. IRR NEW ACCOUNTING PROCESS Implementation of new Common Chart of Accounts required by UCOP starting July 2023 now allows for accounting entries that will result in more transparency on ledgers FINANCE

7. IRR NEW ACCOUNTING PROCESS FIS DS-55 This is from the test system .just pretend there s money in the Appropriation column FINANCE

8. IRR NEW ACCOUNTING PROCESS FIS DS-2 FINANCE

9. IRR NEW ACCOUNTING PROCESS UCB PAYS UCD RECORD INCOME IN INCOME ACCOUNT (92XXXXX) FINANCE

10. Questions? FINANCE