In the event the University receives an electronic payment for which the recipient cannot be determined, Treasury Operations will post the unidentified amount to a central holding account. Departments expecting an electronic payment should check the holding account's Transaction Detail Report (TDR) in the EFR portal in Self Service, if the payment does not appear in their expected departmental account's TDR.
|HOLDING Account WhoKey||275||05||0303||00000||50509300||00|
To obtain additional payment details on electronic payments, simply locate the transaction on the TDR and click on the Journal ID for the transaction in question.
Claiming Payments from the Holding Account
When a receiving department identifies money in the holding account:
For funds that are NOT related to an externally sponsored project (not tracked in a fund 500/510):
Current Fiscal Year
- Create a WebCV journal entry to move funds out of the holding account and into the appropriate departmental account.
Prior Fiscal Year
- Create a General Ledger Journal Entry (GLJE application) standard entry type transaction to move funds out of the holding account to the appropriate departmental account. Please use the original transaction description field and IACT on the holding account MFK line.
For funds that ARE related to an externally sponsored project (tracked in a fund 500/510):
- Grant Accounting must create the journal entry. Contact Chris Huber (email@example.com) for assistance.
Treasury Operations will maintain a list of unidentified receipts, and the list will be distributed on a quarterly basis to Department Administrators and Business Officers, who are then responsible for identifying monies belonging to their Department.
Before the end of the current fiscal year, Treasury Operations will review the list of outstanding payments. Unless restricted, payments received in the prior fiscal year will be transferred to a central account.
Please contact Accounting & Financial Reporting at AFR-ElecFinTrans@uiowa.edu with any questions regarding WebCV or GL Journal Entry usage. Access to both applications is granted through Workflow-based request forms that are available on the Accounting & Financial Reporting website and clicking on the Financial Systems & Applications menu link on the left.