Finance and Administration Offset Recovery (Offset) recording error

An error was detected in the way the Facilities and Administration Offset Recovery (Offset) records in the General Ledger.  The Offset is used to centrally accumulate the total F&A being recorded on individual sponsored projects.  The system has been incorrectly posting the Offset to the same Financial Department and Project where the F&A expense is posting.  The Offset should have been recorded in the central Contracts and Grants Accounting Financial Department.

To fix this issue, a journal entry is being made to reverse the incorrect lines and post the corrected lines. Journal entries were made to correct postings. SLAs are in place and final journal entry for June 2024 was completed 7/22/24.