ICR Expense and Income Entries

ICR expenses and income entries are generated using the values defined on the Indirect Cost Recovery Rate table.

To generate indirect costs, transactions must have an object type code that has the ICR Selection Type value set to 'Yes' and the Indirect Cost Rate of the account must not be blank.

Additional criteria further restrict the expenses that may be included in the ICR calculation. The Indirect Cost Recovery Exclusions by Account table is checked for any specific exclusion by account and object code. The Indirect Cost Recovery Type value assigned to the account is also referenced for exclusions using the Indirect Cost Exclusion by Type table.

The Indirect Cost Rate table is then used to create the ICR expense and income transactions. Transactions are created by referencing fiscal year, balance type, and ICR percent on this table. The table contains the accounting strings and the rates to use for each indirect cost rate.

For generated entries, the document number is set to the run date (YYYYMMDD), and the transaction identifies the item as a charge or income with the ICR type, ICR percentage, object code of the original expense, and direct cost amount. The document type is set to 'ICR' (or the value your institution defines in the INDIRECT_COST_RECOVERY_DOCUMENT_TYPE parameter.) The chart, account number, sub-account, object code, sub-object code, and debit/credit code are based on the values in the Indirect Cost Recovery Rate table. The amount of the ICR transaction is set to the original direct cost amount times the ICR percent identified on the table.


ICR Income and Expense Transaction Business Rules