Payroll Cost Transfer (PHAREDS)
An expense that is transferred from one index to another in Banner, after the expense was initially processed on the original index. PHAREDS refers specifically to a cost transfer involving labor distribution and personnel expenses. This ensures accurate funding attribution.
| Effective 2025, the ability to manually enter funds or org fields has been disabled. Users are now required to enter the correct index when completing labor distributions. Once entered, Banner will automatically populate the appropriate fund and org numbers. This will reduce the chance for error and misalignment between fund and org numbers. |
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PHAREDS Resources and Training
- FAQ about Labor Distribution (VCU Wiki)
- PHAREDS - Labor Distribution How-To in Banner (VCU Wiki) (See training video below)
- VCU Labor Distribution Training in Talent@VCU (This training gives an overview across Grants and Contracts, HRIS, and Payroll)
- Cost Transfers (Grants and Contracts Accounting)