Financial Services

Financial Services

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Discontinuation of Research Benefit Allocations

Based on feedback received from the research community, changes are being made to simplify how employee benefits will appear in your financial reports and statements.

Beginning in April 2016, benefits will no longer be reallocated to different benefit accounts within research projects.

You will recall that in the past, benefit expenses would be first charged to the accounts related to the types of benefits being paid (e.g.  CPP – 550011, EI – 550012, etc.), then reversed and allocated to benefit accounts that represented the type of employee receiving the benefit (e.g.  Master’s Stu. Cdn. – Benefits – 550031).

This allocation process was required to facilitate reporting to funding agencies, but caused much confusion and additional transactions in the General Ledger (GL) and Research Statement of Operations.

We have now incorporated a solution to this benefit allocation that does not involve processing the allocation through the GL.  Therefore, going forward, benefit charges will remain in the original accounts that represent the types of benefits being paid (e.g.  CPP – 550011, EI – 550012, etc.).

If you have any questions about this change, please contact research.accounting@queensu.ca.

Regards,

Financial Services

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