Retroactive payroll corrections are determined based upon the type of accounts involved in the correction. See FRS screen 6 ‘Year End Processing’ code to determine whether an account is fiscal or project.
Once the accounting records are closed for the fiscal year, the opportunity to change subsidiary ledger fiscal transactions is lost.
Retroactive corrections crossing fiscal years have a two step process:
1 The current year portion of the correction is made to the subsidiary ledger accounts by the Payroll Office.
2. For the prior year portion, the Payroll Office receives approval from the Accounting Office who in turn may check with the Budget Office regarding budget availability. If approved, the correction is made by the Payroll Office. A fund transfer between general ledgers is required if the correction crosses funds.
Project-to-project account retroactive corrections are based on the following guidelines:
1. the account is active
2. the request is submitted within 90 days of the effective date
3. the effort report has not been sent out yet
4. effective dates are within the project account timeframe (see screen 9 for project start and end dates)
If the answer is yes to all of the above, the Payroll Office will process the correction.
If the answer is no to any of the above, the Payroll Office will send the correction to the Office for Sponsored Programs (OSP) for approval. OSP will either approve and return the request to the Payroll Office for processing or OSP will process a cost transfer.
The Payroll Office will process a retroactive payroll correction based on the required approvals for each type of account, fiscal and project, as noted above. The appropriate fringe benefit rate (e.g. Sponsored Programs vs. University Programs) will be used on each side of the transaction and the difference will be posted to a clearing account.
Updated: 7/21/08