iJournals helps ensure proper approval of financial transactions by prompting entry of appropriate approver designations.

A cost transfer (also known as an expense transfer), is an after-the-fact reallocation of the cost associated with a transaction from one PTAE to another. Possible reasons for a transfer could be to correct an error on the original transaction or expense sharing.  

Approvers of iJournals must be given authority and have a strong understanding of Stanford cost policy. For more details on the policy about transferring expenses, refer to Administrative Guide Policy 3.2.2: Cost Transfers.

The approval policy for iJournals is dependent on the journal dollar amount, the type of ijournal and the originator’s approval authority.

Journals totaling less than $10,000 that do not automatically end-route require an approver with sufficient approval authority. If originators have sufficient approval authority, they suffice as the approver and no additional approver is required. If originators do not have sufficient approval authority, the journal transaction must route to an individual with sufficient authority.

Journals totaling $10,000 or more that do not automatically end-route require an approver other than the originators, regardless of their approval authority. Originators must select an approver as follows:

  • Fund Transfers must route to the originator's manager, or to the appropriate Fund Accountant.
  • Reclass must route to the originator's manager, or to the appropriate FAIR accountant.
  • Others must route to the originator's manager, to a peer in another department or to a central person.

Questions?

S&RO (Systems and Reporting Operations)
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