Interdepartmental Transfers (IDTs)
An interdepartmental transfer (IDT) is a transfer of funds between two TWU accounts. Three types of transactions which require the use of an IDT:
- A TWU department provides a billable service to another TWU department
- Two or more TWU departments share expenses
- A posted transaction requires a correction
Two resources are available for creating IDT’s:
- QUICK IDT
The IDTWEB program is available to service departments which provide large volumes of goods or services to the TWU Community. Individuals within these departments have been specifically trained to use this program.
The QUICK IDT program is available to all TWU departments. It can be accessed by going through the following steps:
- Pioneer Portal
- My Tools
- Inter Departmental Transfer
- Quick IDT
Choose the applicable transaction (explained below):
A TWU department provides a service to another TWU department.
IDT’s are most commonly used when one department provides a service to another department. The department providing the service is the “Account to be Credited” and revenue is recorded using object code 6888. The department receiving the service is the “Account to be Debited” and an expense is recorded using object code 7888 for the cost of the service provided.
Note that the object code 6888 – IDT Revenue, will roll up to the INC (income) category. The object code 7888 – IDT Expense will roll up to the M&O (maintenance and operations) category. Do NOT use a 10 account with Object Code 7888 on IDT’s.
When viewing transactions on the Budget Manager Detail Report, the column entitled SOURCE will include a brief description of the service provided.
Two or more TWU departments share expenses.
Quick IDT’s are used to create transactions between departmental accounts when a department shares expenses for goods or services with another department.
The following guidelines apply:
- The original transaction must be posted to the account. If an IDT is completed prior to the transaction being posted, the IDT will be deleted. The IDT originator will be notified.
- These transactions require the same object code be used on both the debit and credit side of the entries.
- The accounts used cannot cross between State and Local funds - for example, expenses cannot be paid from a Fund 10 account, then shared with a Fund 11 account.
- The “Account to be Credited” will be the account originally used to pay for the goods or services. A credit will be applied to the same object code that was used to record the initial payment.
- The “Account to be Debited” will be the account sharing the expenses, thus the applicable object code will be debited to record the cost of the goods or service.
- IDT’s cannot be used to share any payroll-related expenses. Payroll expenses must be processed through the Payroll Department.
The Purchasing Office bought 4 cases of legal size paper which as charged to their account, 11.410.30.1580.7300.00000000 (using object code 7300). The total cost was $240.00 (4 cases x $60/case). The Controller’s Office needed one case of paper so the two departments agreed to the exchange of goods as well as sharing the cost. The Quick IDT entry would be as follows:
11.410.30.1502.7300.00000000 (Controller’s Office Acct #)
Inv #33345 Share exp w/Purchasing
|11.410.30.1502.7300.00000000 (Purchasing Office Acct #)||60.00||
Inv #33345 Share exp w/Controller
Quick IDT’s can be used to correct transactions that have posted. The following guidelines apply:
- Choose the option “Sharing Expenses” from the QUICK IDT program selections.
- The object code must be the same for both the debit and the credit side of the correction.
- The accounts involved must be all state or all local funds. (Example: All must be Fund 10 accounts OR all must be local funds which are Funds 11, 12, 14, and 19). This is the only scenario where 10 Accounts are allowed.
- The amount must remain the same as the original transaction.
- Include a description that clearly identifies the purpose of the transaction.
For additional information or training, contact Kara Krafft in the Controller’s Office.
Page last updated 4:03 PM, April 11, 2017