Expenditure Correction Process

This guide will cover:

• Information

• Accessing the Expenditure Correction Form

• Completing the Expenditure Correction Form

  • Funds Determination

  • Distribution Lines – Entering the GL/POET String(s) for the Correction Transaction

  • Entering the Type of Correction

  • Explaining the Reason for the Expenditure Correction

  • Submitting the Expenditure Correction

• Additional Resources

Information

Expenditure Corrections provide a way to reallocate and correct an expense or revenue entry after the initial entry was charged to another account. All expenditure corrections must be appropriately justified, documented, and completed in a timely manner to support allowability.

Expenditure Corrections involving project funds must comply with the Expenditure Correction/Cost Transfer DAPP found on the Financial Affairs Website>Policies and Reference Material>Office of Sponsored Programs. It is the policy of the University of Wyoming (“University”) that all expenditure corrections must be processed in compliance with Federal and other sponsor requirements.

All Expenditure Corrections must be supported by documentation which contains a full explanation of why the error occurred and the relationship of the charge to the project/account to which the correction is being made. Explanations such as “to correct an error” or “to transfer to correct grant” are unacceptable. The key is to explain how the error occurred and the nature of the error, or why the expenditure was assigned to an incorrect project.

Accessing the Expenditure Correction Form

• The Expenditure Correction Form is located on the Financial Affairs Website > Forms > Accounting Office section

• Click on the Expenditure Correction Form to access the form for use. You will be required to enter your University login information to access the form

• The Expenditure Correction Form will open

  • Your Name, Department, and Email will preload onto the form based on your University HCM information. You may have to enter your office/dept phone number if you do not have an assigned University number.

 

Completing the Expenditure Correction Form

Note: Using the back button in the form will cause session variables to be lost. If you need to go back to change information, use the Clear button (bottom of form) and start over.

 

Funds Determination

In the form it will ask what type of funds are involved. This will determine the fields that need to be completed for the expenditure correction and routing of the Expenditure Correction Form.

• OSP Project funds – if OSP Project funds are involved in any way (either moving from or moving to) choose this option.
• UW Operations Project funds – check this option if a UW Operations Project is involved (i.e. 21-#####) and an OSP project is not.
• Faculty Start Up, Faculty GIA, WYOEXE, Other (non-GL) – select this option when the project number begins with FSU, FGIA, WYOEXE, etc. and OSP Project funds are not involved. For example, if you want to split a transaction between FSU-XXXXX and 105####, you will choose OSP Project funds.
• No project funds – select this option when correcting a GL transaction.

If you choose anything other than No project funds, you will then be asked How are project funds involved?

• How are Project Funds involved? *
  • Determine how Project Funds will be involved in the corrected entry. This will determine the fields that are displayed in the distribution lines:
    • Project to Project:  Original entry was project funding; corrected entry is project funding
    • Project to General Ledger:  Original entry was project funding; corrected entry is general ledger funding
    • General Ledger to Project:  Original entry was general ledger funding; corrected entry is project funding

If either the original transaction or where you are moving it to has both project funds and GL funding, a separate Expenditure Correction will need to be completed for the project section and another Expenditure Correction for the GL section. The form does not allow both a GL string and POET information in the “Currently On” or in the “Move To” section.

Number of lines/distributions
In the form it will ask the number of lines/distributions involved. You may enter up to 20 transaction lines (distributions) in one form if they are all related to the same document (IDT, Non-PO Invoice, etc.).

 

Distribution Lines – Entering the GL/POET String(s) for the Correction Transaction

• For No Project Corrections, you will enter a General Ledger to General Ledger (GL) correction entry. A GL to GL example entry is shown below.

• Entity – Chart of accounts segment for entity

• Account – Chart of accounts segment for account

• Fund Class/Type – Chart of accounts segment for fund class

• Fund Source – Chart of accounts segment for fund source

• Organization – Chart of accounts segment for organization

• Exp. Class – Chart of accounts segment for expense class

• Program – Chart of accounts segment for program if used by your department.

• Activity – Chart of accounts segment for activity if used by your department.

• Future – This is locked with “0” and no entry is allowed.

• Amount – Cost amount of the expenditure

 

• For OSP and FSU/FGIA/etc. Project Funded Corrections, you will enter the POET/General Ledger (GL) string for the original transaction in the Currently On section and enter the corrected POET/GL string in the Move To section.

• • A Project to Project example entry is shown below.

• Project – The unique number assigned to the sponsored project

• Task – This is locked with “1” and no entry is allowed.

• Expnd Item Date – Date goods or services were received.

• Expnd Type – Refer to the grant expenditures crosswalk for Expenditure Type for Projects (not Category).

• Organization Name – Organization name of the department assigned to the project

• Amount – Cost amount of the expenditure

 

• If you have multiple lines and are splitting or combining amounts resulting in a blank line, you must enter “0” in the Amount column for the blank budget line or you will receive an error message.

• Enter “0” and then you will be able to submit the correction once all other information has been entered.

• If the “Currently On” section and “Move To" section do not balance, you will receive a message that the totals are different. Double check your amounts to make sure they are correct before submitting the correction.

Note: For more information on what make up the General Ledger/POET Account Strings, visit the Chart of Accounts webpage found on the Financial Affairs Website > Chart of Accounts.

 

Entering the Type of Correction

• In the form, it will ask: What type of correction are you making? * Based on the transaction you are correcting, you will select from the list below.

• If you select IDT Correction, you will be requested to enter the IDT #, IDT Paid Date and Service Agency Name (Revenue Department Name).

• If you select Deposit Correction, you will be requested to enter the Deposit Receipt # and Deposit Date.

• If you select Expense Report Correction, you will be requested to enter the Expense Report Number (include the EXP), Payment Date, and P-Card Holder/Employee Name.

• If you select Non-PO Invoice Payment Correction, you will be requested to enter the Supplier/Payee, Invoice Number, Payment Date, and Check/Payment Number.

• If you select PO Invoice Payment Correction, you will be requested to enter the Supplier/Payee, Requisition Number, PO Number, Invoice Number, Payment Date, and Check/Payment Number.

Note: You can find the requested information in the Account Analysis Report or through various reports found on the Reports & Analytics module in WyoCloud. View the Financial Management Reporting QRGs for more information on certain reports.

 

Explaining the Reason for the Expenditure Correction

• Based on whether project funds are involved and the date of the original expenditure, you will need to answer 1-4 questions, explaining the reasons for the correction. All expenditure corrections must be appropriately justified to be accepted.

  • For Non-OSP Project Fund Corrections - Complete Reason for Correction: Explain how the error occurred and nature of the error or why the expenditure was assigned to an incorrect project/general ledger account.

NOTE: If you are only moving a portion of the original distribution, make comments in this section to detail the original amount. This helps to identify the distribution/line you want to correct.

• For OSP Project fund corrections within 90 days of the original transaction date you will be asked two questions:

• For OSP Project fund corrections 90 days+ after the date of the original transaction date you will be asked to complete two more questions:

For additional information on Expenditure Corrections involving project funds see the Expenditure Correction/Cost Transfer DAPP found on the Financial Affairs Website>Policies and Reference Material>Office of Sponsored Programs. The Post-Award Specialist assigned to your department will work with you to make sure your correction(s) and the answers comply with the policy. The list of Post-Award Specialists and departments can be found on the Office of Sponsored Programs website>Meet the Team and click on:

 

Submitting the Expenditure Correction

• Once all required fields (*) have been entered, click Submit.

• After clicking submit, an automated email will be created that will be addressed to you as well as WyoCloud Corrections or OSP Expenditure Corrections (if project funds are involved). This email will show your expenditure correction within the email and through a html file.

• To check the status of your correction, view your organization’s Account Analysis Report after month end close or reach out to the Accounting Office (accounting-office@uwyo.edu or 307-766-3310).

 

Additional Resources

• Expenditure Correction / Cost Transfer Policy (DAPP)

• Financial Management Reporting QRGs

• Completing an Interdepartmental Transfer (IDT) QRG

• Entering an Expense Report QRG

 

 

This concludes all the steps for Completing an Expenditure Correction.