Can funds be moved from one project to another to pay for shared activities?

General transfers from one project to another, or to a group of projects, can be done using the general transfer accounts 40997 / 58497.

For example:
Project A would like to give $100 to Project B to share general expenses.

Same department: Entry is input using a journal entry using a source code of O60.

Different Departments
Entry is input using the IDT system. Using transaction type IDJ, Project B would “charge” Project A $100 and use account 58497 for both the Biller and Payer sides of the transaction.

Read more:

• Journal Entry Manual
• Internal Transfer Guidelines for IDT and O6X Journals