Setting Up Federal Reimbursable Agreement Accounts in General Ledger

To set up federal reimbursable agreement accounts in PeopleSoft General Ledger, use the Reimbursable Agreement Account component (RMC18_SETUP).

Page Name

Definition Name

Usage

Reimbursable Agreement Account Page

RMC18_SETUP

Set up general ledger Account ChartFields for each of the Reimbursable Agreement Amount Types that are predefined for the page.

Federal agencies and the DoD often use reimbursable funding to perform work on behalf of others and then are reimbursed for the work. A reimbursement ID is created based upon an agreement between agencies or an outside organization. This agreement is negotiated prior to its acceptance. Agencies may only bill back the prenegotiated reimbursable amount, which makes it imperative that they are able to track reimbursable agreements separately from other types of funding, as well as access the current status of the reimbursable amount, billing limit, amount expended against the agreement, and the amounts collected against the agreement.

Federal agencies and the DoD also operate under a revolving fund. Several organizations within these two groups operate much like a business in that they charge for goods and services, and any proceeds they receive from sales finance the fund. These organizations must be able to bill for goods and services and track the status of the bills and any collection activity.

PeopleSoft Contracts enables the user to review this information required by the government on the Reimbursable Agreement Inquiry page. To take advantage of this inquiry, you must set up the Reimbursable Agreement Account information. On this page, you define the accounts for the type of amount in the Reimbursable Agreements inquiry:

  • Advanced Amount equals the sum of the amounts in SGL accounts 2310, 5200, and the Contract Asset account based on the specified search criteria for the inquiry.

  • Advanced Remaining Amount equals the sum of SGL account 2310 for the specified search criteria for the inquiry.

  • Billed Amount equals the Advanced Amount less 2310.

  • Earned Amount equals the sum of SGL account 5200 for the specified search criteria for the inquiry.

  • Unbilled Amount equals the sum of the Contract Asset account for the specified search criteria for the inquiry.

  • Obligated Amount equals the sum of amounts in SGL accounts 4802, 4872, 4882, 4801, 4871, and 4881 for the specified search criteria for the inquiry.

  • Expended Amount equals the sum of amounts in SGL accounts 4902, 4972, 4982, 4901, 4971, and 4981 for the specified search criteria for the inquiry.

  • Collected Amount equals the sum of amounts in SGL account 1023 for the specified search criteria for the inquiry.

  • Committed Amount.

Use the Reimbursable Agreement Account page (RMC18_SETUP) to set up general ledger Account ChartFields for each of the Reimbursable Agreement Amount Types that are predefined for the page.

Navigation:

General Ledger > Federal Reports > Define Reimbursable Account > Reimbursable Agreement Account

Field or Control

Description

Amount Type

Select the amount types that appear in the Reimbursable Agreements Inquiry in PeopleSoft Contracts.

Account

Select the Account ChartField that applies to each amount type. A description and example of how the amounts in the inquiry are derived for each amount type resides in the PeopleSoft Contracts documentation, "Federal Reimbursable Agreements" topic.

Account Action

Select either Addor Deduct.

This selection describes the action taken on the detail amount for the account when you are combining them into the higher level amount type.