Good Morning,
The procedure for performing cost transfers in iO has been updated on RCA’s website. The information below can be found at this link https://controller.rice.edu/rca-cost-transfer
Cost Transfer Process in iO
The process for cost transfers in iO is dependent on the transaction source (converted or iO created) and the transaction type (labor and non-labor).
Cost Transfers for Costs Incurred Prior to July 1, 2021 (Both Labor and Non-Labor Converted Costs)
- Converted costs will be managed in iO using the NON-LABOR COST TRANSFER FORM. For the costs to be transferred, a description of the cost transfer as well as the invoice information must be entered, as well as the current and new COA and POET accounting information. RCA will enter the information into the PPM Project Costs ADFDI template and upload into iO.
- Converted costs cost transfers are to be requested by the Department Administrator and uploaded to BOX for processing.
Cost Transfers for Non-Labor Costs Incurred After July 1, 2021
- Cost transfers for non-labor costs will be managed in iO using the NON-LABOR COST TRANSFER FORM. For the costs to be transferred, a description of the cost transfer as well as the invoice information must be entered, as well as the current and new COA and POET accounting information. RCA will enter the information into the PPM Project Costs ADFDI template and upload into iO.
- Non labor cost transfers are to be requested by the Department Administrator and uploaded to BOX for processing.
Labor Cost Transfers for Costs Posted Beginning July 1, 2021
- Labor cost transfers will follow the general iO process for Labor Distribution changes. For changes to sponsored projects entered 90 days after the end date of the original labor distribution, the following is required:
- The field “Includes sponsored projects over 90 days:” must be marked “Yes” on the Labor Distribution form.
- A comment must be entered on the form explaining the reason for the cost transfers.
- Include the Department Chair as an Optional Approver on the LD template so the required department chair approval is obtained.
- Labor cost transfers are to be requested by the Department Administrator and forwarded to Payroll for processing via Adobe Sign.
