Part III - UNM Finance: Practical Applications

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Standard Accounting Resource Manual (SARM)

MSC 0000 00
1 University of New Mexico
Albuquerque, NM 87131

Current Period Adjustments

All labor redistribution changes will be reflected in the correct payroll period regardless of when you do the correction.  For example, if you are reviewing the effort report for the period of Jan – June 2013, in August 2013 and make an adjustment to the January labor 5R1, the effort report will reflect the change you made in August for the Jan period in January. 

This is how adjustments are expected to occur; in the current period.