NEW IRR PROCESS
Contracts and Grants Accounting
July 17, 2023
FINANCE
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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.
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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
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Is this confusing?
Yes!
But wait, there’s good news….
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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
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FIS DS-55
This is from the test system….just pretend there’s money in the Appropriation column
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FIS DS-2
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FIS DS-19 (DRILL FROM DS-2)
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UCB PAYS UCD – RECORD INCOME IN INCOME ACCOUNT (92XXXXX)
Questions?
FINANCE
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.
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Presentation Transcript
NEW IRR PROCESS Contracts and Grants Accounting July 17, 2023 FINANCE
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
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
MCA FROM UCANR TO UCB -- LEDGER EXAMPLE Is this confusing? Yes! But wait, there s good news . FINANCE
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
IRR NEW ACCOUNTING PROCESS FIS DS-55 This is from the test system .just pretend there s money in the Appropriation column FINANCE
IRR NEW ACCOUNTING PROCESS FIS DS-2 FINANCE
IRR NEW ACCOUNTING PROCESS UCB PAYS UCD RECORD INCOME IN INCOME ACCOUNT (92XXXXX) FINANCE
Questions? FINANCE
