How to create a batch fund transfer

Before you start

Where a fund transfer can work with two accounts, a batch fund transfer can exchange available resources to multiple accounts.  Batch fund transfers are aggregates of single fund transfers - each transfer will have its own workflow and approval. If you have already worked with fund transfers, jump to instructions with the to review the differences.

 

Step 1: Prerequisites

Before you begin any transaction on Sinai Central, you should make sure that you have all the necessary information to conduct your business. In this case, you will want on hand:

• the fund numbers and object codes that you have access to (further referred to as the requesting fund(s))
  
• The other fund numbers and object codes that you will be doing the transfers with (further referred to as the accepting funds). If this is not available, you can also find the accepting fund numbers with the fund owner's names and names of the funds.
  
• statements and or documentation stating why you are creating each of the transfers
• further login and access requirements for using Sinai Central are mentioned in Understanding Fund Transfers
  

Step 2: Login

Login to Sinai Central. You can do this from http://www.mssm.edu/finance. Take a look at this document if you are having issues with your login.

Step 3: Navigation

From the left menu bar, select Finance>Transactions>New>Batch Fund Transfer

Step 4: Filling out the form

For an easier view of the form, the image below has been modified from what is viewed in Sinai Central. Batch Fund Transfers show three line items.


The Fund Transfer window will display. Enter the details of the Fund Transfer.

1. All transactions are assigned a transaction number automatically. Note the prefix BC. This can be helpful for doing a search for a fund transfer later.
   
2. The Requester's Name, Box #, Telephone, and Department Name are taken from your Personal Profile. For more about your Personal Profile in Sinai Central, see 3: Your First Login to Sinai Central.
3. Select a Fund and Object Code from the drop-down lists. The funds available are funds that you have access to. The object codes available are managed by the Finance Department. Note that this fund is requesting the transfer.
   
4. Select a direction for the transfer to occur. (Ask yourself, "Is transfer going to or from the fund I have access to?")
   
5. Enter a Fund Number. If a fund number is not available, you can also do a search for it by finding the fund owner in a search menu and choosing the name of the fund. Note that this fund is accepting the transfer.
   
6. Select an Object Code. By default, the transfer is set to go to the same object code*.
   

   Reclassifying funding to another object code during a fund transfer 
   will attach an alert to the transaction for the Finance Department to review.
   

7. Enter an Amount.
8. Type in the Reasons for Transfer. The first 20 characters of the explanation will appear in the general ledgers. This is where you will put in initial documentation about the fund transfer. You can further expand this field with the icon.
   Continue onto the next line item.
   
9. Click on the check box to have the reason given in the first line apply to all of the other line items.
10. Click on the Add More Lines button to add another line item.
    
11. Click on Save Draft or Submit. Saving the request as a draft enables you to finish working on it later. Submitting it creates the fund transfer.
12. Click on the  to delete a line item.

Going Further

When submitted, the Linked Objects menu displays. See Reviewing Links for more information.