payroll expense transfer

When a contract ends mid-month and a new contract begins during the same month, posting payroll can be tricky. Avoid confusing paycheck calculations by following these best practices for mid-month contract changes.

Occasionally, you’ll need to correct errors in payroll after it processes. CU’s HCM Payroll Expense Transfer (PET) solution has a number of helpful features to make reallocating funding a breeze.

There are a few best practices to keep in mind while creating a Payroll Expense Transfer (PET) to ensure correct accounting, a smooth fiscal year-end and collaboration between departments.

Fiscal year 2023 (FY23) begins on July 1. Ensure that this year’s payroll (and effort) is allocated correctly before the close of fiscal year 2022.