Account Create and Cost Transfer System (ACCTS)

The Accounts Create and Cost Transfer System (ACCTS) is an on-line program that allows a department to create FAS accounts (limited to Financial Services and LBC staff), and to enter journal entries, expenditure transfers, and indepartmental orders.

ACCTS FAQs:

How do I receive ACCTS system access?

ACCTS access can be requested through the ACCTS/PETS Access Request website: https://accts01.uchicago.edu/acctspetsrequest/

Where do I go to log into ACCTS?

The ACCTS homepage can be accessed by clicking the link at the bottom of this page. To process journal entries (JE), expenditure transfers (EE) or interdepartmental orders (DD), users should select the "Run Cost Transfer Module only (CT)" and log into the system with their CNet ID and password.

Please be advised that you must be connected to the UChicago internet server or be signed into the UChicago VPN to access the ACCTS and PETS pages. If you are not connected via one of these methods, you will be unable to access these pages and will receive an error message.

Where do I go to obtain a copy of an ACCTS entry?

Any user with a valid CNet ID can look up an ACCTS entry (JE/EE/DD) via the “Look up a Cost Transfer processed through ACCTS” module at https://accts.uchicago.edu. The user must know the JE/EE/DD number to appropriately utilize this module.

What is the difference between a JE, EE and DD?

Journal Entries (cost transfers or JE) are the transfer of non-discrete transactions between FAS accounts. For example, if a divisional FAS account is providing a financial support to unit unrestricted FAS account, these transfers are typically done via JE. These entries are typically lump sum entries and therefore, in many cases are not the appropriate entry for grant/contract accounts due to award accounting requirements. Journal entries are processed within the ACCTS Cost Transfer module.
Expenditure Transfers (EE) are the transfer of individual FAS transactions from one FAS account to another FAS account. These transactions allow a clear audit trail of transfers between accounts and can be used to transfer revenue or expenditures. These are most commonly utilized on grant and contract accounts. Expenditure transfers are processed within the ACCTS Cost Transfer Module.
Interdepartmental Orders (DD) are payments for services/supplies between University departments. These entries provide more information than journal entries or expenditure transfers as they demonstrate the quantity/price being charged for the good/service. Additionally, this tool in ACCTS allows users to route the form to the respective department to identify the appropriate FAS account to be debited, if not know by initiator, and approve the entry. Interdepartmental orders are processed within the ACCTS Cost Transfer Module.

Is there a deadline to submit entries?

Yes - entries must be submitted no later than 3pm on Friday (or other date as defined by the month-end or year-end close schedule). However, 3pm is always the time cutoff for entries. An unapproved entry will have a status of "submitted." Once approved the status will update to "approved." Approved entries submitted to FAS during the daily processing (see next question) will change to a status of "processed." There may be instances where an entry is submitted before 3pm, but is not approved by Financial Services the same week the entry is submitted. This may be due to additional reviews or inquiries needed to be performed by Financial Services prior to entry approval. If a user has a questions about an unapproved entry, they should contact the assigned reviewer shown on that entry.

When will I see my entries in Business Objects?

ACCTS is fed to FAS each day around 4pm and FAS updates once a week (or according the month-end or year-end FAS close schedule). Entries must be approved by Financial Services in order to be picked up by the FAS batch processing update. Therefore, approved entries will be available in the next week's business objects run.

My entry was rejected by the approver. Is there a way to receive notification when an entry is rejected?

Yes - to enable the feature to receive email notification of any rejected JE/EE/DD's, log in to the Cost Transfer Module. Once logged in, scroll over to the File icon and select Preferences. Within the pop-up screen, click the box "Receive email for rejected transactions." For any rejected entries, the Financial Services approver will leave comments within the entry regarding the reason for the rejection. To see these comments, the user can print the entry or edit the entry.

What are the year-end deadlines for ACCTS?

The year-end close schedule, as well as ACCTS deadlines, is available under Financial and Tax Reporting. Please note that during year-end, the ACCTS system will remain open for June entries through Close 3. Entries may only submitted by the authorized divisional representatives during Close 3. Entries submitted during Close 3 by anyone not on the approved list will have those entries rejected.

Need more help?

For general accounting questions, please contact genaccounts@lists.uchicago.edu.

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