Effective July 1, 2021, accounts 514810 (Study Subject Payments) and 514820 (Study Subject Expenses) will be replaced by the new accounts below for all voucher payments and cash advance settlements related to study subjects. The new account codes now roll up into budget account 523000.
New account 523150 – Study Subject Payments (replaces 514810)
Payment made to individuals as compensation for participating research studies and subject to 1099 reporting.
New account 523160 – Study Subject Expenses (replaces 514820)
Reimbursement of travel and out-of-pocket subsistence expenses for participating study subjects and not subject to 1099 reporting.
Per the Finance Memo, once all transactions using the old accounts codes have posted, 514810 & 514820 will be deactivated and only report transactions prior to 7/1/2021.
FAQ on this Change
What if I have pending transactions using accounts 514810 and 514820?
If the accounting date of your voucher or journal is on 7/1/2021, those transactions will still be reviewed and approved to post to the retiring study subject account codes. Once these transactions have posted, UNC Accounting Services will process a batch journal entry to move these expenses to the new account codes.
Are previous expenses posted to 514810 and 514820 transferring to their respective new accounts?
No, expenses with accounting dates before 7/1/2021 will report on the retiring study subject account codes, 514810 and 514820. All expenses using the new account codes for study subjects will report on 523150 and 523160. It’s possible to have a project reporting expenses for study subjects on both sets of account codes.
What if I need to journal expenses posted to 514810 and 514820?
Once accounts 514810 and 514820 have been deactivated, you will not be able to use them. To move expenses for study subjects on the deactivated accounts (514810 and 514820), process an Other Campus Journal (JOT) using the new accounts.
You had previously reconciled a cash advance of $200 to account 514810 and it should have been reconciled to 522928. To correct this, select the Other Campus Journal (JOT) and enter your journal lines as follows: