PeopleSoft Services

Budget Uploads

The University’s budget process and budget upload is coordinated by the Budget Office.  The University’s budget is reviewed and accepted by the University’s Board of Trustees on a yearly basis each spring.  Budgets for the new fiscal year beginning July 1 are submitted to the Budget Office by each school with a template provided by the Budget Office.  Approved budgets must be submitted, loaded and reconciled by Mid June.

Allocations

(A PeopleSoft system capability for creating journal entries)

An allocation enables you to charge expenses or credit revenues to the proper distributions (Dept Id’s/accounts) on a monthly basis, as a percentage, over a period of time.

For example, each school shares costs related to commencement. Monthly expenses (which can vary from month to month) that are expensed in the home Dept Id for commencement expenses are debited to each school’s Dept Id as a Current Month Actual expense as determined by each school’s percentage of the total shared expense.

Another example of an allocation would be to recover assessment on revenue or gifts. An allocation would debit 10% of total revenue received in each accounting period in one Dept Id and credit this assessment to another Dept Id.

If you can benefit by creating an allocation entry or have an existing allocation that requires modification or inactivation, please contact Mary Beth McHugh at X76836.

Recurring Journal Entries

(A PeopleSoft system capability for creating journal entries)

A recurring journal entry enables you to automate similar or repeating entries.  This method works best for annual expenses that can be charged through twelve equal monthly entries such as, rent and annual support for TCCS and library automation.  Each month 1/12th of the total annual expense will be debited and credited to the appropriate Dept Ids and appear as a Current Month Actual transaction.

If you can benefit by creating a recurring entry or have an existing recurring entry that requires modification or inactivation, please contact Mary Beth McHugh at X76836.