Reconciling Department Cost Centers
Departments are required by the university to reconcile their cost centers on a monthly basis. Any errors found or corrections needed should be processed within 90 days of the occurrence. Corrections requested after the 90 days may require the following information along with the supporting documentation:
1) What measures have been taken to avoid the need for this type of cost transfer in the future.
2) Senior administrator signature.
See reconciling department accounts policy at http://www.controller.cmich.edu/Accounting/Policies/ReconDeptAccts.htm
See journal entries on accounting services website at http://www.controller.cmich.edu/Accounting/JournalEntries.htm