INTERDEPARTMENTAL Charges and the online journal entry process. Presented by Melissa Cope Manager of Financial Accounting BAS Forum June 9, 2010. IDC Overview.
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
Manager of Financial Accounting
June 9, 2010
▪ in adherence with Generally Accepted Accounting Principles (GAAP)
▪ consistent accounting treatment across all University units
▪do not result in an overall increase or decrease of income and/or expense to the University’s financials
▪do not misstate the operating results of any University unit
The Kent State University Bursar’s Office sold the Controller’s office a stapler, the Bursar’s Office can process an IDC that would look like the following……..
D 100304-72017 (Controller’s Office, Office Supplies Expense) $$$
C 100303-77020 (Bursar’s Office, Interdepartmental Sale) $$$
The Kent State University Police Department provides services to the Controller’s Office for a special event, the KSU Police department can process an IDC that would look like the following…….
D 100304 -77201 (Controller’s Office Interdepartmental Labor) $$$
C 100223-77201 (Police Dept Interdepartmental Labor) $$$
Kent State University Health Services provides medical supplies to the Controller’s Office, KSU Health Services can process an IDC that would look like the following……..
D 100304-72016 (Controller’s Office Exp-Medical Supplies) $$$
C 333000-53086 (Health Svc-Interdepartmental Sale) $$$
The Controller’s Office purchased printer cartridges for the entire Controller’s Office and Payroll department using the Controller’s Office departmental purchasing card and charged the full amount to the Controller’s office index upfront. The total amount of expense that was recorded to the Controller’s Office was $300.00. Of that total amount that was expensed to the Controller’s Office, $25.00 belongs to the Payroll Office.
D 101372-72017 (Payroll Office Exp- Office Supplies) $25
C 100304-72017 (Controller’s Office Exp-Office Supplies) $25
A Controller’s Office employee submitted a travel expense reimbursement that was coded to the wrong index (this was a keying error). The amount of the travel expense was $500.00 and was coded to index 100305 (BAS) in error. The travel expense should be recorded to index 100304 (Controller’s Office).
D 100304-71011 (Controller’s Office Travel) $500.00
C 100305-71011 (BAS Travel) $500.00