Correcting Expenditures by Using CHC Transaction
Process
This job aid describes the process for creating Charge Transaction Correction (CHC) transactions.
The Charge Transaction Correction (CHC) transaction is used to correct or reallocate grant expenses and related reimbursement revenue (if applicable). The document is similar in purpose to a JVC, but will automatically calculate a front-end split (FES) rather than forcing the user to manually do so. All available JVC event types should be available for the CHC as well.
Difference between CHC and a JVC
A Charge Transaction Correction (CHC) transaction differs from a JVC in the following ways:
CHC uses compressed accounting lines where all coding is entered on a single line and CORE will automatically create the debit and credit based on the event type.
● CHC automatically calculates a front-end split.
Compressed Accounting Lines
On a JVC, the user must populate both a debit and a credit line. A CHC uses a compressed accounting line where all coding is entered on a single line and CORE will automatically create and debit and the credit based on the event type.
Automatic FES Calculation
On a JVC, the user must manually calculate the FES amounts. Assuming a $100 transaction with a 50/50 Federal/State split the JVC transaction would require two debit and two credit lines to complete the transaction. The user would also need to manually calculate these amounts and know all of the Cost Accounting back-office coding such as Funding Profile, Funding Line, etc. On the CHC, one accounting line is created and then the system automatically calculates the split.
Create a Charge Transaction Correction (CHC) transaction
To create a CHC transaction, you will want to follow the steps below:
1. Enter CHC in the Jump to field and click Go.
Enter Transaction Code in the Dept. field.
Select Create.
Select Auto Numbering.
Select Create.
2. Select Accounting section.
Select Insert New Line.
On General Information tab, select the Event Type.
Enter the Line Amount and any Line Description.
For a Credit, use a negative number.
3. Enter Fund and Detail Accounting Information as needed on the COA tab. Make sure PROGRAM is entered.
Note that PROGRAM is the only COA element needed. All other Cost Accounting information is inferred.
Continue to add additional lines and coding as needed.
5. Validate and Submit.
