Cost Transfer Policy Term Definition

A Cost Transfer occurs when an expense is transferred from one PeopleSoft project, class or chart field value to another when an error has occurred. Transfers between PeopleSoft accounts are considered coding corrections, not Cost Transfers, under this policy.

Cost Transfers for purposes of this policy include all costs, e.g. salaries, benefits, M&O (maintenance and operation) etc. Labor transfers typically occur via payroll transfer where non-labor transfers generally are done with a journal entry and may be initiated within the records of UTMB by Financial Accounting and Reporting, UTMB Hospitals or other authorized units.