An important reminder about official functions with alcohol expenses
When completing expense reports that include an official function with alcohol expenses, some departments are assigning all of the official function expenses—meals, non-alcohol and alcohol expenses—to account 550102 -- OFFICIAL FUNCTION WITH ALCOHOL. This overstates the campus’ alcohol expense, which is tracked and reported.
We remind departments that the alcohol and meal/non-alcohol expenses should always be split so they go to the correct expense account, as shown in this example:
Please let us know if you have any questions and thank you for the support you provide to your departments! CCO Campus Accounting; fiscalcompliance@colorado.edu.