To prevent inconsistencies please apply the following rules To prevent inconsistencies please apply the following rules

Internal recharges

The term 'Internal Recharge' only covers supplies of goods and services between Units where the charge is made up of a number of different costs (eg consumables, labour, administration, overheads/mark up.

Please refer to ABW account codes 3900 - 3999 for income and expenditure or internal recharges.  

Internal transfers

The term 'Internal Transfer' covers all other items that are moved from one account to another and which can therefore be related to specific items being transferred.

In these cases the income/expenditure is being transferred from the original code to another code but the description and value are the same.

Transfers must be made within the account code.

This will ensure that the annual Financial Statements reflect a true and fair position of the University's Income and Expenditure.

Journaling Recharges/Transfers

Staff authorised to raise journals for recharges/transfers will have received appropriate training on how this is done.  In the event of query please contact the ABW Helpdesk on ext. 2109 or 3700 for advice.

Intercompany Transactions

If you need to raise an internal transfer or recharge between the University and any of its subsidiaries there are special rules as follows:

  • Intercompany Income should be credited to account code 1800.
  • and Intercompany Expenditure should be charged to account code 2090 (payroll) or 3990 (non payroll).

Rhoda Wolf,
Senior Financial Accountant.

11 April 2014