A cost transfer is a transaction by which costs originally charged elsewhere are moved to a federal sponsored account in order to allocate costs properly and require institutional approval. Auditors consider an excessive number of cost transfers, especially transfers done long after the original transactions occurred, to be an indication of poor financial management and a high risk. Because of this, Harvard’s Cost Transfer Policy requires that cost transfers be justified soundly. Please only use the CT batch naming convention for journals that fall under the CT policy (see below).
Journal Voucher Batch Name naming convention
"JV^TUB^DEPT^ Preparer's Initials^Description^Date (or Date Range) of original transaction(s)"
CT Journal Voucher Batch Name naming convention
"CT^TUB^DEPT^ Preparer's Initials^Description^Date (or Date Range) of original transaction(s)"
Transaction Line Description convention
Describe the journal, referencing the original expense.
Example: "Transfer June '07 salary to fund 123456"