Interdepartmental Transfers (IDTs)

An interdepartmental transfer (IDT) is a transfer of funds between two TWU chart strings. Three types of transactions require the use of an IDT:

1. A TWU department provides a billable service to another TWU department
2. Two or more TWU departments share expenses
3. A posted transaction requires a correction

Choose the applicable transaction further explained below.

Services

A TWU department provides a service to another TWU department.

IDTs are most commonly used when one department provides a service to another department. The department providing the service is the “Account String to be Credited” and revenue is recorded using account 76004 (formerly object code 6888). The department receiving the service is the “Account String to be Debited” and an expense is recorded using account 76007 (formerly object code 7888) for the cost of the service provided.

Note that the account 76004/IDT – Revenue will roll up to the INC (Income) category. The account 76007/IDT – Expense will roll up to the M&O (Maintenance and Operations) category. Do NOT use a fund 110 (formerly fund 10) chart string with account 76007 on IDTs. Exceptions may apply.

Sharing expenses

IDTs are used to create transactions between departmental chart strings when a department shares cost for goods or services with another department.

The following guidelines apply:

• The original transaction must be posted to the chart string. If an IDT is submitted prior to the transaction being posted, the IDT will be returned to the originator.
• Shared expense transactions require the same account (formerly object code) be used on both the debit and credit side of the entries.
• The chart strings used cannot cross between State and Local funds – for example, expenses cannot be paid from a Fund 110 chart string, then shared with a Fund 111 chart string.
• The “Account String to be Credited” will be the chart string originally used to pay for the goods or service. A credit will be applied to the same account (formerly object code) that was used to record the initial payment.
• The “Account String to be Debited” will be the chart string sharing the expense, and the applicable account (formerly object code) will be debited to record the cost of the goods or service.
• For the chart string(s) receiving the credit(s), screenshots from the Budgetary Control Dashboard (BCD) in Oracle Cloud must be provided for each expense transaction. The transactions must be highlighted and add up to the amount of the requested IDT. The screenshot(s) must clearly include the full chart string, date, and the transaction description. For help, please see the IDT Tutorial. 
• IDTs cannot be used to share any payroll-related expense. Payroll expense must be processed through the Payroll Department.

Example:

Procurement bought 4 cases of copy paper which was charged to their chart string 111.44100.37001.60404.600.0000000000.000.0000.000000. The total cost was $120.00 (4 cases x $30/case). Financial Services needed one case of paper so the two departments agreed to the exchange of goods and sharing the cost. The IDT entry would be as follows:

Corrections

IDTs can be used to correct transactions that have posted. The following guidelines apply:

1. The account (formerly object code) must be the same for both the debit and credit sides of the correction.
2. The chart strings involved must be all state or all local funds (i.e. all must be Fund 110 accounts OR all must be local funds, which are Funds 111, 112, 114, 117 and 119). This is the only scenario where Fund 110 Accounts are allowed.
1. Fund 110 chart strings require Controller approval; provide as much detail as possible as to why a Fund 110 account needs to be used. This will be provided to the Controller to make an informed decision.
3. The amount must remain the same as the original transaction.
4. Include a description that clearly identifies the purpose of the transaction.
5. For the chart string(s) receiving the credit(s), screenshots from the Budgetary Control Dashboard (BCD) in Oracle Cloud must be provided for each expense transaction. The transactions must be highlighted and add up to the amount of the requested IDT. The screenshot(s) must clearly include the full chart string, date, and the transaction description. For help, please see the IDT Tutorial. 

IDT Template

Submit completed IDTs to Sarah Farris at sfarris1@twu.edu
For additional information or training, contact Sarah Farris in Financial Services.

Email: SFarris1@twu.edu 
Phone: 940-898-3531