In order to ensure transactions posted to Tri-Council projects are accurately reflected in the General Ledger, please ensure that revenue accounts are never used when processing journal entries to these projects (accounts beginning with 4xxxxx). Tri-Council revenues are administered by Research Accounting; therefore the use of revenue accounts for Tri-agency projects is restricted to Financial Services.
Research Accounting must report on externally funded revenues received to the external granting agencies, therefore it is important to ensure these are the only revenues residing in the projects, in order to maintain a clear audit trail. When revenue accounts are used by sources outside of Financial Services, this requires correcting entries and causes delays in meeting research reporting deadlines.
If you are attempting to recover costs using a Tri-Council project, the appropriate journal should reflect cost recovery transactions, using expense accounts. Please refer to the Financial Services website for guidance on preparing journal entries for cost recoveries. This topic can be viewed at http://www.queensu.ca/financialservices/policy/expenditures/recordinginternalsales.html.
If you are processing a journal entry and require guidance regarding the appropriate accounts to use, please contact your Faculty Business Officer. For research related journals you may also contact Research Accounting at firstname.lastname@example.org.