Finance Community,
As we have previously communicated, UCOP has implemented a new financial information system, and UCOP and all campuses are moving to a new Common Chart of Accounts that is standardized across the UC system. In order to align with the new standard, UC Berkeley will be implementing some updates to our Chart of Accounts, including changes to accounting for internal departmental recharges.
Effective Friday, July 1, 2022, internal department recharge activity will need to be recorded to new 590xx expense accounts, with the recharge credit transactions recorded to existing account 59000 – Internal Recharge Income. Please make sure to update your recharge journals and allocations accordingly. Review a list of 590xx internal recharge accounts on the Chart of Accounts webpage.
Please reach out to the Financial Accounting and Controls team with any questions at gao@berkeley.edu.
Thank you,
Controller’s Office
Office of the Vice Chancellor of Finance
