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CONTROL ACCOUNTS

By Christina Morris,2014-08-09 11:46
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CONTROL ACCOUNTS

    San Bernardino County Supt. Of Schools General Ledger Workshop District Financial Services 2002/2003 Exhibit B

     CONTROL ACCOUNTS

    The California Schools Account System along with SACS identifies several general ledger accounts as subsidiary ledger control accounts. In addition to these accounts that summarize the activity in the subsidiary revenue and expense ledgers, Part II (SACS) Accounting Manual specifies several beginning balance general ledger asset/liability component accounts. The San Bernardino Financial System uses all of these accounts plus establishes three addition accounts to accumulate summarized data for reporting. The system control accounts are:

     Operating Accounts Budgetary Accounts

     Encumbrance (9830) Estimated Revenue (9810)

     Pending (9835) Appropriations (9820)

     Revenue (9840)

     Expenditure (9850)

     Fund Balance Accounts

     Beginning Fund Balance (9791)

     Unaudited Actuals Adjustment (9792)

     Audit Adjustment (9793)

     Restatement Adjustments (9795)

     Net Gain or Loss (9799)

     Ending Fund Balance (9798)

Operating Accounts

    Any activity postings (cash deposits, cash transfers, interfund transfers, accounts payable, stores requisitions, payroll, journals, cash journals, etc. that affects the expenditures object accounts (1000 7999) and the revenue object accounts (8000 8999) also posts to the operating control accounts.

A debit (increase) to the activity of an expense object would debit the expenditure Control Object 9850.

     Example: Accounts Payable issue for supplies Object 4310

     Debit the Expenditure Control Object 9850

     And Credit the Cash in Treasury Object 9110

    Exhibit B Control Account

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    San Bernardino County Supt. Of Schools General Ledger Workshop District Financial Services 2002/2003 Exhibit B A debit (increase) to the activity of an expense object would debit the expenditure Control Object 9850.

     Example: Payroll Benefit for Health & Welfare is mapped Object 3411

     Debit the Expenditure Control Object 9850

     And Credit the Benefit Suspense Object Object 9564

A debit (increase) to an encumbered expense object would debit the temporary Control Object 9830.

     Example: PO is encumbered for telephone expenses

     Phone Charges Object 5910

     Debit Encumbrance Control Object 9830

     And Credit Pending Suspense Object 9950

    When encumbrance is paid the Encumbrance Control Object (9830) is relieved and expenditure Control 9850 charged

     and Cash in County Treasury Object 9110

A debit (increase) to a pended expense object would debit the temporary Control Object 9835.

     Example: CJV is processed to move aid salaries from Special Education to IDEA

     Instructional Aid Salary Object 2111

     Debit Pending Control Object 9835

     And Credit Pending Suspense Object 9955

    When the journal is posted the Pended Control Object (9835) is relieved and expenditure Control 9850 charged. The

    pended suspense Object 9955 is relieved and Cash in County Treasury Object 9110 is credited for the Resource (3310)

     being charged (debited) and Cash is debited for the Resource that is being credited..

A credit (decrease) to the activity of an expense object would credit the expenditure Control Object 9850.

     Example: Accts Payable credit memo for supplies returned Object 4310

     Credit the Expenditure Control Object 9850

     And Debit the Cash in Treasury Object 9110

    Exhibit B Control Account

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San Bernardino County Supt. Of Schools General Ledger Workshop

    District Financial Services 2002/2003 Exhibit B A credit (decrease) to the activity of an expense object would credit the expenditure Control Object 9850.

     Example: Cash Deposit for Lost Textbook Object 4110

     Credit the Expenditure Control Object 9850

     And Debit the Cash in Treasury Object 9110

A Credit (increase) to the activity of a revenue object would credit the revenue Control Object 9840.

     Example: County Cash Transfer for State Aid Apportionment Object 8011

     Credit the Revenue Control Object 9840

     And Debit the Cash in Treasury Object 9110

     Example: Cash Deposit parent transportation fees Object 8675

     Credit the Revenue Control Object 9840

     And Debit the Cash in Treasury Object 9110

A Debit (decrease) to the activity of a revenue object would debit the revenue Control Object 9840.

     Example: Repayment of SSBldg Aid Project Funds Object 8545

     Debit the Revenue Control Object 9840

     And Credit the Cash in Treasury Object 9110

A Debit (decrease) to the activity of a revenue object would debit the revenue Control Object 9840.

     Example: Refund of Builder Fees Object 8681

     Debit the Revenue Control Object 9840

     And Credit the Cash in Treasury Object 9110

    Exhibit B Control Account

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San Bernardino County Supt. Of Schools General Ledger Workshop

    District Financial Services 2002/2003 Exhibit B

Budgetary Accounts

    The adopted budget roll and any budget transfer that affects the expenditures object accounts (1000 7999) and the revenue object accounts (8000 8999) also posts to the Budgetary control accounts, the Net Gain or Lost, and Fund Balance control accounts.

    An increase to the budget value of an expense object would debit the estimated expenditure Control Object 9820.

    Example: Increase school supplies Object 4310

     Debit the Estimated Expenditure Control Object 9820

     Debit Unappropriated Fund Balance Object 9790

     Credit Fund Balance Control Account Object 9798

     Credit Net Gain or Loss Object 9799

    A decrease to the budget value of an expense object would credit the estimated expenditure Control Object 9820.

    Example: Decrease salary expense Object 1110

     Credit the Estimated Expenditure Control Object 9820

     Credit Unappropriated Fund Balance Object 9790

     Debit Fund Balance Control Account Object 9798

     Debit Net Gain or Loss Object 9799

    An increase to the budget value of a revenue object would credit the estimated revenue Control Object 9810.

    Example: Increase Lottery Funds Object 8560

     Debit the Estimated Revenue Control Object 9810

     Credit Unappropriated Fund Balance Object 9790

     Debit Fund Balance Control Account Object 9798

     Debit Net Gain or Loss Object 9799

    Exhibit B Control Account

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San Bernardino County Supt. Of Schools General Ledger Workshop

    District Financial Services 2002/2003 Exhibit B

    A decrease to the budget value of a revenue object would debit the estimated revenue Control Object 9810.

    Example: Decrease in ADA State Aid Object 8011

     Debit the Estimated Revenue Control Object 9810

     Debit Unappropriated Fund Balance Object 9790

     Credit Fund Balance Control Account Object 9798

     Credit Net Gain or Loss Object 9799

    Example: Decrease Chapter I Grant Funds Object 8290

     Decrease Chapter I Expense Object 4310

     Debit the Estimated Revenue Control Object 9810

    Credit the Estimated Expenditure Control Object 9820

     No change in Unappropriated Fund Balance Object 9790

     No change Fund Balance Control Account Object 9798

     No change Credit Net Gain or Loss Object 9799

    Example: Adopted Budget Roll Revenue Object 8XXX’s

     Establish Expense Appropriations Object 1XXX 7999’s

     Debit the Estimated Revenue Control Object 9810

    Credit the Estimated Expenditure Control Object 9820

     If in Balance Revenue equals Expense

     No change in Unappropriated Fund Balance Object 9790

     No change Fund Balance Control Account Object 9798

     No change Credit Net Gain or Loss Object 9799

    If in Surplus Revenue exceeds Expenditures

     Credit Unappropriated Fund Balance Object 9790

     Debit Fund Balance Control Account Object 9798

     Credit Net Gain or Loss Object 9799

    If in Deficit Expenditures exceed Revenue

     Credit Unappropriated Fund Balance Object 9790

     Debit Fund Balance Control Account Object 9798

     Credit Net Gain or Loss Object 9799

    Exhibit B Control Account

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San Bernardino County Supt. Of Schools General Ledger Workshop

    District Financial Services 2002/2003 Exhibit B

    Fund Balance Accounts

    To start the fiscal year, beginning balances are estimated . These estimated assets and liabilities are entered into the account link beginning balance menu.

    The Beginning Balance Report, FCR 125 displays the restricted and unrestricted entries made. If the debits do not equal credits, the report identifies the

    difference that must be corrected.

Estimated beginning fund balance must always be positive by resource Credit Control Object 9791.

    Example: Debit Cash Asset Object 9110

     Debit Revolving Cash Object 9130

     Debit Accounts Receivable Object 9210

     Debit From Government Object 9290

     Debit Due from Other Funds Object 9310

     Credit Accounts Payabl Object 9510

     Credit Due to Government Object 9590

     Credit Deferred Revenue Object 9650

     Credit Due from Other Funds Object 9610

     Credit Beginning Fund Balance Object 9791

When doing a budget revision to these accounts the Ending Fund Balance Accounts Object 9790/9798) will be automatically updated. If entering the

    beginning values for the adopted budget in the FCR 125 beginning balance entry screens, these ending values must be entered to reflect the ending value after

    adding estimated revenue and subtracting budgeted expenditure appropriations.

     Credit Ending Fund Balance Object 9790

     Debit Fund Balance Control Object 9798

    Debits Must Equal Credits

    Assets are Equal to Liabilities Plus Fund Balance

    Beginning Balance Plus Revenue Less Expenditures Equal Fund Balance

    Unaudited Actuals Asset and Liability Roll validates difference between estimated and actuals Control Object 9792

Other adjustments (audit and restatement) adjust the appropriate asset or liability and the net difference posted to Control Object 9793/95.

    Exhibit B Control Account

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