(USF) Reclassifying Receivables Accounting Entries, Direct Journal Accounting Entries, and Open Items

Page Name

Definition Name

Usage

Reclassify AR Accounting Entries Page

PAR224_ARENTRIES

Change the fund associated with posted accounting entries. You can reclassify the entire stream of the transaction. The reclassification entries are recorded in the PS_ITEM_DST table with a sequence number starting from 600. You can also change the BETC and accounting date.

Reclassify Direct Journal Entries Page

PAR224_DIRJRNL

Identify accounting entries for direct journals and reclassify the entries to correct the fund. The reclassification entries are recorded in the PS_PAY_MISC_DST table with a line number starting from 600. You can also change the BETC and accounting date.

Transfer Selection Page

PAR224_TRANSFER

Create a new worksheet or add items to a transfer worksheet.

See Reclassifying Open Receivables Items.

Worksheet1 Page

TRN_WORKSHEET1

Select the items to transfer.

See Reclassifying Open Receivables Items.

Worksheet2 Page

TRN_WORKSHEET2

Override the default receivable distribution code.

See Reclassifying Open Receivables Items.

Transfer Action Page

TRN_ACTION

Select a posting action for a worksheet. Also use this page to delete a worksheet, create accounting entries online for the worksheets, or to delete accounting entries.

See Reclassifying Open Receivables Items.

To set up agency location codes (ALCs) and government-wide accounting (GWA) reporting options for reporting, use the Agency Location component (AGENCY_LOC_CD). Select the CTA check box on the Installation Options - Receivables Page. Once you see the Billing ALC field on the Receivables Options - General 1 Page, you can set the ALC to be a GWA Reporter for Receivables.

To create CTA reports, use the CTA Report Definition component (SF224_SF1220_DEFN). You can also create the Partial SF224 using this component.

The U.S. Treasury’s FMS-224 and Partial 224 processes were renamed Classification Transactions and Accountability (CTA). See Understanding Federal Government and Statutory Reports for more information.

The PeopleSoft Receivables Cash Reclassification is used to reclassify cash transactions from one Treasury Symbol (Fund Code) to another.

Use the Reclassify AR accounting entries page (PAR224_ARENTRIES) to change the fund associated with posted accounting entries.

You can reclassify the entire stream of the transaction. The reclassification entries are recorded in the PS_ITEM_DST table with a sequence number starting from 600. You can also change the BETC and accounting date.

Navigation:

Accounts Receivable > Receivables Maintenance > Reclassify AR Entries

This example illustrates the fields and controls on the Reclassify AR accounting entries page. You can find definitions for the fields and controls later on this page.

 Reclassify AR accounting entries page

Field or Control

Description

Item Search

Click to display the accounting lines that match the entered business unit, item ID, customer ID, fund code, and accounting date.

Selection Criteria

Select the types of entries to display in the Accounting Lines area. the values are All Entries and Reclassification Entries.

Update

Click this button to generate new accounting entries for the selected accounting lines after you have entered the appropriate fund code, BETC, and accounting date.

The system generates reversal entries for the selected accounting lines and creates new accounting entries with the following attributes:

  • The fund code, BETC, and accounting date are changed to the specified values. The system retrieves the TAS based on the fund code. The TAS value defaults in from the TAS_FUND_CD_TBL/TAS_DEFN_TBL.

    The TAS and BETC are required for reclassification transactions. The system verifies the Fund Code and TAS/BETC have been set up before you can update the Fund Code value.

    If you want to change only the BETC on the entries, you must also enter a Fund Code value in the Fund Code update field. This is necessary for the BETC prompt to display the correct values based on the fund code.

  • The distribution sequence number begins at 600.

  • The value in the Distribution Status field changes to N if the value in the selected rows is N or D.

    For distribution status I in the selected rows, the value remains the same.

  • The entry event process status is updated to N.

Use the Reclassify Direct Journal entries page (PAR224_DIRJRNL) to identify accounting entries for direct journals and reclassify the entries to correct the fund.

The reclassification entries are recorded in the PS_PAY_MISC_DST table with a line number starting from 600. You can also change the BETC and accounting date.

Navigation:

Accounts Receivable > Receivables Maintenance > Reclassify Direct Jrnl Entries

This example illustrates the fields and controls on the Reclassify Direct Journal entries page. You can find definitions for the fields and controls later on this page.

 Reclassify Direct Journal entries page

Field or Control

Description

Search

Click to display the accounting lines that match the entered deposit unit, payment sequence, fund code, and accounting date.

Selection Criteria

Select the types of entries to display in the Accounting Lines area. the values are All Entries and Reclassification Entries.

Accounting Date

Enter the accounting date to be used on the new reclassification entries. If no date is entered, it will default to the current date. The budget date will be set to the same date as the accounting date.

Update

Click this button to generate new accounting entries for the selected accounting lines after you have entered the appropriate fund code, BETC, and accounting date.

The system generates reversal entries for the selected accounting lines and creates new accounting entries with the following attributes:

  • The fund code and accounting date are changed to the specified values. The system retrieves the TAS based on the fund code. The TAS value defaults in from the TAS_FUND_CD_TBL/TAS_DEFN_TBL.

    The TAS and BETC are required for reclassification transactions. The system verifies the Fund Code and TAS/BETC have been set up before you can update the Fund Code value.

    If you want to change only the BETC on the entries, you must also enter a Fund Code value in the Fund Code update field. This is necessary for the BETC prompt to display the correct values based on the fund code.

  • The distribution sequence number begins at 600.

  • The value in the Distribution Status field changes to N if the value in the selected rows is N or D.

    For distribution status I in the selected rows, the value remains the same.

  • The entry event process status is updated to N.

Commitment Control and Reclassification of Receivables Accounting Entries

In order for Journal Generator to process reclassification entries, the entries must have a valid budget check status. If you are using Commitment Control, run the Revenue Estimate Application Engine Process (AR_REV_EST) to create the source transactions for the revenue entries in the control budgets. Make sure to select the Send Transactions Generated option on the Revenue Estimate run control page to run the Budget Processor automatically immediately following the revenue estimate process. Once this process is complete and the reclassification transactions have been budget checked successfully, run the Journal Generator process to create GL journals for the reclassification transactions.

For more information about running the Revenue Estimate Process, and reviewing and correcting revenue estimate entries, see Performing Commitment Control Processing.

This section discusses how to:

  • Build a transfer worksheet for reclassifying receivables items.

  • Reclassify open receivables items.

  • Modify the distribution code.

  • Choose an action for a receivables reclassification worksheet.

Building a Transfer Worksheet for Reclassifying Receivables Items

Use the Transfer Selection page (PAR224_TRANSFER) to create a new worksheet or add items to a transfer worksheet.

Navigation:

Accounts Receivable > Receivables Maintenance > Reclassify Open Item

Enter your customer and reference selection criteria.

Field or Control

Description

Build

Click to build a worksheet that reclassifies an open item.

See Transfer Selection Page.

Reclassifying Open Receivables Items

Use the Worksheet1 page (TRN_WORKSHEET1) to select the items to transfer.

Navigation:

Accounts Receivable > Receivables Maintenance > Reclassify Open Item > Worksheet 1

Field or Control

Description

Sel (select)

Select the items to reclassify.

Modifying the Distribution Code

Use the Worksheet2 page (TRN_WORKSHEET2) to override the default receivable distribution code.

Navigation:

Accounts Receivable > Receivables Maintenance > Reclassify Open Item > Worksheet 2

Field or Control

Description

Dist ID AR (receivables distribution code)

Override the default distribution code that was assigned to the business unit. For reclassification, use the RECLASSIFY distribution code.

See Transfer Worksheet - Worksheet2 Page.

Choosing an Action for a Receivables Reclassification Worksheet

Use the Transfer Action page (TRN_ACTION) to select a posting action for a worksheet.

Also use this page to delete a worksheet, create accounting entries online for the worksheets, or to delete accounting entries.

Navigation:

Accounts Receivable > Receivables Maintenance > Reclassify Open Item > Transfer Action

See Finalize Transfer Worksheet Page.