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California State University, Long BeachCalifornia State University, Long Beach

Transfer-In / Transfer-Out

As a result of RMP we are continuing to make necessary changes to our accounting processes. At the direction of the Chancellor's office we need to make a change in the accounts we use for recording transfer in and transfer out transactions. In the past the transfer in & out accounts used were driven by the State Fund level. Now, in the new RMP environment the accounts used are driven by the CSU Fund level. For your information, for financial reporting purposes to the Chancellor's office, each campus fund is assigned an SCO fund and a CSU fund. The SCO fund and CSU fund are completely different which means now we must change accounts. To meet this need, new account codes were created to easily identify source of transfer and destination of transfer. There are two models to use in determining what account to use.

Within the same CSU Fund

If transferring between two campus funds that have same CSU fund use the following accounts:

  • 570000-Fund receiving the transfer or transfer in
  • 670000-Fund distributing the transfer or transfer out

Between CSU Funds

If transferring between two campus funds that have different CSU funds use the following:

  • 570XXX-Fund receiving the transfer or transfer in/the last three digits of the account should be the CSU fund that your receiving from.
  • 670XXX-Fund distributing the transfer or transfer out/the last three digits of the account should be the CSU fund that your transferring to.

Example

Fund 40802 needs to reimburse fund GF001. The entry would be as follows:

Fund Account Amount
GF001 570408 (100.00)
GF001 108090 100.00
40802 670485 100.00
40802 108090 (100.00)