As a reminder, there are changes related to the Common Chart of Accounts project that will be implemented on July 1.
Effective for transactions starting with July 2022 accounting date.
When recording intercampus recharge transactions between UCB and other campuses/UCOP you will need to use the new 98xxx series of accounts for transactions currently recorded in 5xxxx expense accounts. Please note that there are two separate accounts for each campus – Intercampus Recharge Debit for transferring funding and Intercampus Recharge Credit for transferring costs. There are also two new Intercampus Recharge Debit / Credit ANR accounts for transactions with ANR units at other campuses. Please make sure to update your journal entries and templates accordingly.
- Contract and grant intercampus subaward transactions will be recorded using the 925xx UC campus/UCOP accounts. These 925xx accounts will replace the 578xx intercampus subaward expense accounts. Existing POs in BearBuy using the old 578xx accounts will be valid through December 31, 2022. POs for new intercampus agreements executed on or after July 1, 2022, should be created with the new accounts.
For transactions recorded in July for the June accounting period, you will continue to use 5xxxx expense accounts.
Internal department recharge activity should be recorded to the new 590xx expense accounts, with the recharge credit transactions recorded to existing account 59000 – Internal Recharge Income. If you are a recharge unit please make sure to update your journal entries and templates to use 590xx accounts for both sides of the transaction. If you are not a recharge unit but currently use account 59000 to record revenue or 56xxx recharge accounts for vendor payments, please use a different account going forward and update existing POs in BearBuy as soon as possible. Please be aware that old 56xxx recharge accounts will be inactivated in BFS in July.
For transactions recorded in July for the June accounting period, you will continue to use non-590xx expense accounts.
- Starting July 1 you may see specific revenue and expense allocations from UCOP recorded to new 94xxx and 95xxx accounts.
Campus departments should use chartfield 1 (CF1) codes to record specific UC systemwide program transactions in the general ledger. Examples of such programs include the Natural Reserve System, CA Institute of Quantitative Biosciences (QB3), Center for Information Technology Research in the Interest of Society (CITRIS), etc.
More information about these changes and the full list of UC systemwide programs are available on the Common Chart of Accounts page on the Controller’s Office website. Please reach out to the Financial Accounting and Controls team with any questions at email@example.com.
Office of the Vice Chancellor of Finance