UMass Lowell Journals FAQ

These are the terms the UMass Lowell Financial Services area uses when referring to the university’s financials. 

Chart Field: Is comprised of the following:

• Department ID (Dept.ID) 
• Fund Number 
• Project Number, if applicable 

i.e. L123456789 – 51425 M5017000000000A 

Speed Type: A code that represents a combination of Chart field values. The Speed Type simplifies the entry of the Chart Fields that are commonly used together.

Department ID (Dept. ID): A specific ID assigned to an area and/or individual within the university that defines who is responsible for and tracks revenue and expenditure activity. 

Fund Number: Funds segregate the different types of funding and defines the distinct purpose of the funding (i.e. Fund 51161 is Operating Budget Funding vs. Fund 53570 Scholarship). 

Program Code: Tracks revenue and expenditures for areas within the university.

UMass Lowell uses four types of journals:

1. Budget journals
2. Cash journals
3. Cost transfer journals
4. Cross campus journals

Journals are used when:

• Transferring budgets or cash to support another department or area
• Moving an expense or portion of an expense
• Intercampus charges

The type of journal to request will depend on what you’re trying to do and what budgets will be impacted by the entry.

Moving Operating Budgets

Budget Journals would be used when transferring funds within the Operating Budget Funds (i.e. Fund Numbers 51161,52110, etc…), when the transfer is intended to move budget funds and not an expense.

Moving Cash

Cash Journals would be used when transferring cash between various funds for requests that are intended to support another area, without having the expense reflected in the budget of the funding department (i.e. Department “A” is supporting an event run by Department “B,” the expenses related to the event should remain under the budget of Department “B.”).

Note: UML does not transfer non-Operating Budget funds into the Operating Budgets (i.e. Transfer of Budget, or Cash from the Non-Sponsored Fund 51425 into Operating Budget Fund 51161). These types of requests would be processed as a Cost Transfer Journal using a reimbursement expense code.

Moving an Expense

Cost Transfer Journals would be used to move an expense or a portion of an expense from one budget to another (i.e. Expense move from the Non-Sponsored Fund 51425 to Operating Budget Fund 51161).

Tip: Purchase Orders (POs) can be split funded between multiple PeopleSoft Budgets, ensuring that the expense is charged to all department budgets wishing to support the expense. By splitting the PO initially, the need for a cost transfer is avoided.

Funding Operating Budgets with Non-Operating Budget Funds

Cost Transfer Journals would be used when requesting a transfer of funds into the Operating Budget Funds (i.e. Transfer from the Private Gifts Fund 53500 into the Operating Budget Fund 51161).

However, if the request was to have the Operating Budget (Fund 51161) fund a transfer into the Private Gifts Budget (Fund 53500), that request would be processed as a Cash Journal because the funding was coming out of the Operating Budget.

Funding Operating Budgets with Non-Operating Budget Funds

Cost Transfer Journals would be used when requesting a transfer of funds into the Operating Budget Funds (i.e. Transfer from the Private Gifts Fund 53500 into the Operating Budget Fund 51161).

However, if the request was to have the Operating Budget (Fund 51161) fund a transfer into the Private Gifts Budget (Fund 53500), that request would be processed as a Cash Journal because the funding was coming out of the Operating Budget.

After determining what type of journal is needed, complete the appropriate journal form, ie: Budget journal (xls) or journal entry form (xls), and submit the form via email to the appropriate department (Budget Office or Controller's Office). These forms and job aids can be found on the Budget & Financial Planning website.