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Online Transfer of Funds (OLTF)

Find out how to complete an Online Transfer of Funds (OLTF).

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1. Go to "Initiate a Transfer of Funds" in FinancialLink

  • Navigate to FinancialLink and select Transactions in the left hand menu bar.
  • Select Initiate a Transfer of Funds.
  • Enter your IFIS User ID and Password.
  • This will take you to the Transfer of Funds Header screen.

2. Complete the OLTF Header fields with appropriate information according to the chart below.

Field Name Type of Information
Transfer number Option 1: "NEXT" for a new transfers (default setting)

Option 2: Enter the document number (TXXXXXXX) for an uncompleted transfer.

Description

Enter a summary description of the transfer.

Transaction date

Enter the last day of the fiscal period in which you wish the transfer to appear on the operating ledger. For example, if you want the transaction to appear on the May ledgers, you would enter "05/31/XX".

CAUTION: The default for this field is the current day's date. If you are making adjustments in early June to the May ledger and you allow this field to default to a June date, the changes will be reflected in the June ledgers rather than the May ledgers.

Document total

Enter the grand total of all credits and debits reflected in both the Current Year Budget and the Permanent Budget.

Note: This field is easier to complete once the transfer details have been completed. It will also return the correct amount to enter if you try to complete the transfer with the wrong figure.

Posting type

Enter "I-Immediate".

Note: The "D-Deferred" option is for General Accounting and Campus Budget Office use only.

Current year template

Select your Current Year Budget Template.

Note: The drop-down box will only list the templates in your hierarchy.

Permanent template

Select your Permanent Budget Template.

Note: The drop-down box will only list the templates in your hierarchy. 

Text information

Enter a detailed description of the transfer. The more detailed the better. IMPORTANT: If the transfer includes any salary or FTE actions, provide the following information:

  • Type of salary action
  • Employee name
  • Employee number
  • Title code
  • Previous rate of pay
  • Current rate of pay
  • Date salary action is effective

3. Press the "Submit" Button.

Upon pressing the "Submit" button, the "Transfer of Funds Header" screen will assign a new Transfer Number.

Note: The Campus Budget Office recommends that you write the new Transfer Number down before proceeding.

4. Press the "CY & PERM Detail" button at the top of the page.

Note: Either "CY Detail" or "PERM Detail" buttons can be pressed individually. However, for the sake of instruction, the "CY & PERM Detail" screen will address all scenarios.

5. Complete the Current Year & Permanent Transaction Detail fields.

Use the charts to below to complete the Current Year & Permanent Transaction Detail fields (repeat as needed to complete the entire transfer of funds document):

Field Name Account Information
Sequence No data entry necessary. This field is automatically generated by IFIS and can be used to navigate between lines of detail.
Index Enter Index Number that is affected by transfer.
Account

Enter appropriate Account Number according to the type of transfer you wish to make.

IMPORTANT: If the transfer affects salary accounts (starting with a 60 or 61), it may be necessary to also fund employee benefits. Click on the button below for information regarding UCSD's Employee Benefits policy. >>How to Fund Benefits.

FOPAL

The Fund-Org-Prog-Activity-Location fields will fill in automatically upon addition of each individual line item.

NOTE: They must be blank in order for the automatic fill to operate correctly. To clear occupied fields, either delete manually or click the "Clear FOPAL" button.

Field Name Current Year Information
Description

Enter a brief description of the line item. For example, "To: ABC1234 Sub-Account 3"

NOTE: This description will appear on the operating ledger.  

Amount Enter hte dollar amount, including cents.
Debit/credit

Select the appropriate button to indicate transfer action.

Field Name Permanent Information
System Administrative Unit code (SAU) Enter:
  • 0 (zero) Local Campus Activity; or
  • 5 Systemwide MRU Activity (Funds will end with a "Z") 
Sub campus code Enter:
  • 1 General Campus; or
  • 2 Health Sciences; or
  • 3 Marine Sciences
Transaction class code

Enter "A-Adjustment".

NOTE: the "I -Increment" option is for VC and CBO use only during fiscal year closing.

Transaction type code Enter:
  • 2 Interlocation Transfer of Funds; or
  • 3 Regents/President's Actions; or
  • 4 Academic Merit; or
  • 5 Staff Merit; or
  • 6 Academic Range; or
  • 7 Staff Range; or
  • 8 Reclassification; or
  • 9 Six Month & Trainee Increase; or
  • A Turnover; or
  • A1 Salary Reconciliation for others during Final Staffing; or
  • B Other
Description

Enter a brief description of the line item. For example, "To: ABCBD12 Sub-Account 3"

IMPORTANT: It is necessary to use a "BD" index number when making transfers that affect the permanent budget.

NOTE: This description will appear on the adjusted budget report.

FTE

Enter the Full Time Equivalency amount.

NOTE: FTE can be "one legged". In other words, you may create or delete FTE without entering an offsetting FTE in another account.

Debit/credit

Select the appropriate button to indicate transfer action.

Amount

Enter the dollar amount, rounded to the nearest dollar.

IMPORTANT: It is necessary to use whole dollars when making transfers that affect the permanent budget.

Debit/credit

Select the appropriate button to indicate transfer action.

Button Name Action
Add

Click this button to add the completed line of detail to the transfer of funds document.

Change Click after making corrections to an individual line of detail
Delete

Click to delete an individual line of detail.

Refresh

Click to refresh the current line of detail.

Return to Header

Click to return the document header after all lines of detail have been completed.

6. Return to Header

Press the "Return to header" button at the bottom of the page.

7. Calculate and enter the sum of all debits and credits in the "Document Total" field.

 If there were four lines of detail example:

Sequence Number Line Total DR/CR
001 $5,000 DR
002 $5,000 CR
003 $3,000 DR
004 $3,000 CR
Document total $16,000 >>

Press the "Change" button.

8. Press the "Complete" or the "Complete & Approve" button to finish the online transfer of funds.

Important: Pressing "Complete" will allow the author to make changes until it is reviewed and approved Pressing "Complete & Approve" sends the transfer of funds document to the next approver. The author CANNOT make changes to the document after it has been forwarded for further approval unless it is returned.

Caution: A transfer of funds CANNOT be reversed once it has been final approved. The only way to reverse a transfer of funds is to process a second OLTF reversing the original transaction and a third OLTF correcting it.

See Online Transfer of Funds Web-Based Training course.

Things to keep in mind

  • Documents must be in balance ( all DR = all CR ).
  • Permanent transactions require the use of a “BD” Index number. 
  • Permanent transactions must be entered in WHOLE dollars only ( no cents ).
  • Permanent FTE transactions MAY be out of balance.
  • These transactions can be and are often "one-legged".
  • Final approved documents can not be changed or deleted.

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