Use this screen to create the cost transfer journal entry.

When the cost of a project is charged to the performing organization(s) and the revenue is collected by the owning organization, a mismatching of revenue and expenses appears on income statements printed by organization. This application creates a journal entry that reallocates the cost from the performing organization to the owning organization. After you have posted the journal entry, you can print income statements, by organization, that accurately match costs and revenue.

You must designate which accounts are used to transfer the costs before creating this journal entry. You must have entered the direct accounts on the Manage Financial Statements screen, and pool accounts on the Manage Cost Pools screen. You must also have linked the transfer accounts to the proper organizations and to their respective financial statement lines.

You can select the ending subperiod this journal entry encompasses. You can also select the rate type, actual or target, at which costs transfer. The entry calculates on a YTD, reversing basis. The reversal of the journal entry is inserted in the first open subperiod of the next period.

Create the cost transfer journal entry only once for a given period. If you need to create a second journal entry for the same period, you must determine whether the first journal entry has been posted. If the first journal entry has not been posted, use the Manage Journal Entries screen to delete it and create the journal entry again. If the first journal entry has been posted, execute the Reverse Posted Journal Entry screen to delete it. After deleting the reversal of the first journal entry in the next period, create the journal entry again.