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Travel Accruals

Travel Accruals

Fiscal Year End

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Finance Office Contact: Angie Yarbrough (x8859); yarbroug@ucar.edu 

Deadline: Accrual adjustments to Finance by 12:00 noon on October 3.

Administrator Action: Review the travel accruals processed on 9/30, Close #3.  Communicate to Finance Office Contact any needed adjustments.

  1. Remaining encumbrances for trips ending on or before 9/30/xx will be accrued.
  2. Trips crossing fiscal years, i.e., trips beginning in FYxx and ending in the next FY, will make a partial accrual for the days up to 9/30/xx.

Remember that ALL completed travel should have a travel voucher filed with the Travel Office by noon on September 24.

Posting Details: Because travel authorizations are part of the encumbrance database, both a general ledger and encumbrance transaction will post for the accrual and the reversal of the accrual. The following illustrates the results of the journal entry posting:

September 30 Accrual:
GL debit to account key - expense object code identified on the TA
GL credit to the contract account key - liability object code
EN negative to the account key - expense object code per the TA

October 1 Reversal:
GL credit to account key - expense object code identified on the TA
GL debit to the contract account key - liability object code
EN positive to the account key - expense object code per the TA

Note that the reversal process is a mirror of the accrual and nothing else happens to the travel voucher (TA's are not closed during this process). Basically, the encumbrance is changed to an expenditure at September 30 and then changed back to an encumbrance as of October 1st . This allows travel to process the voucher in FYxx under normal procedures.



Last updated by src on July 20, 2016 - 2:36pm.
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