Imprest, Petty Cash and Other Revolving Funds Office of the Washington State Auditor

02 Sep Imprest, Petty Cash and Other Revolving Funds Office of the Washington State Auditor

Since we are not clearing the full amount of an open item, click on the Partial Pmt tab. When an Accounts Receivable is raised, notification is sent to the debtor with details of the amount, description of the receivable. Importantly, the Document Number is generated when the AR document is raised in Umoja. The debtor is advised to include the Document Number when making a payment so that the Incoming Payment can be applied to the outstanding receivable.

Upon receipt of the request for a new bank account, Treasury reviews and selects an appropriate bank where the UN account should be opened in accordance with the business requirements and the UN Treasury guidelines. The office / field mission would recommend a list of the bank signatories and the bank where the account may be opened.

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The ACH pre-notification file will be automatically transmitted to the bank along with daily ACH payment files. The Payee Bank Processor reviews the banking information and, if needed, correct or add the necessary routing information. The Payee Bank Processor forwards the record to the Payee Bank Approver through the workflow for review and approval. Umoja, through enhancement, will identify master record that meets the criteria for complex banking instructions.

• Enter the KGdocument number in the From field of the Document Number section.
• The Treasury Banking Processor creates/updates the House Bank records in Umoja, including the record of the bank signatories.
• All payment proposals must be assigned to a Payment Release List in order to be processed and released in Umoja.
• Choose the statement below which is correct regarding which bank reconciliation items require adjusting journal entries.
• The purpose for which a payment is made should be consistent with the policies, aims, and activities of the UN.

A system document will be generated at the end of the process and given to the payee to acknowledge the receipt of the cash or cheque. The controller shall prescribe the form of warrants and checks to be drawn upon the state treasurer. All warrants and checks for approved expenditures and claims shall be drawn and issued under direction of the controller or his or her authorized agent and transmitted to the department of the treasury to be recorded. It is an accessible, convenient way to pay for small purchases.

Chapter 6 Concept Videos.docx

All state agencies are required to make and preserve records of employees’ wages and hours and other conditions and practices of employment. The opinion of value or the appraisal must be forwarded to the state controller prior to the state controller approving the option to purchase contract. No person shall incur or order or vote for the incurrence of any obligation against the state in excess of or for any expenditure not authorized by appropriation and approved commitment voucher except as expressly authorized by this section. But every person incurring or ordering or voting for the incurrence of such obligation and his surety shall be jointly and severally liable therefor.

The reason being payroll payment entries for the same BP posted in several bank accounts within the same month. In the majority cases though, 3.5 Cash Voucher and Petty Cash Voucher the conditions for automatic clearance will not be met. In such instance, incoming payments will manually be applied to the open accounts.

Bank Reconciliation – Outgoing Payments

In the case below the total of all PYand ZR postings did not amount to zero, which means we cannot reconcile the entries for this particular Assignment . Note different GLs in Account field, representing different bank accounts that have postings related to one BP. Even though the two entries in the EFT In account still have a red status, the status will change to green and a document number will appear in the now empty Clrng doc. Field when they are matched against each other as part https://business-accounting.net/ of batch clearing process . Sometimes the automatic batch clearing process does not clear all items so the T-code F-03 can be used in this case. The task of reconciling transactions with the bank, which result from the Incoming Payments received, essentially consists of moving these credits from the EFT Incoming account to the respective accounts where the funds are to be lodged. When an EFT Incoming Payment is received, the customer’s account is not immediately credited in the GL.

• For this instance it is Item no 1 of statement 108 of House Bank GBCH1.
• If the payee bank record passes the validation, the Payee Bank Processor 1 will continue the process of payee bank creation.
• Prior to generating the payment run, the parameters to generate the payment proposal are entered.
• Allowed only in governmental funds and internal service funds.
• Also the status of the transaction is green, meaning that the debit of the ZR document created by Umoja when the statement was uploaded automatically cleared with the credit of the existing KZdocument .

This format is an excellent way to monitor the current amount of petty cash remaining on hand. Fund Custodians should replenish the Petty Cash Fund monthly or when total accumulated receipts exceed $200, whichever occurs first. 4.1.The Petty Cash Fund must be reconciled whenever the Fund Custodian changes. The outgoing Custodian reconciles the fund, listing its contents. Both the outgoing and incoming Fund Custodians sign the UNM Petty Cash Fund Reconciliation form. Access to the Petty Cash Fund must be restricted to the Fund Custodian,as described in Section 4. Responsibility for the fund must be specifically included in the employee’s job duties and acknowledged by the employee as a job duty.

Procedure documentation should include The start up process Job scheduling Setup

On the screen, note that though it has moved the credit that was temporarily booked there to the account of the customer who made the payment, the two entries in the EFT In account still have a red status. When they are matched against each other as part of batch clearing process , the status will change to green and a document number will appear in the now empty Clrng doc. The transaction code is used to access bank statements that have been uploaded into Umoja and to perform bank reconciliation accordingly. Prior to generating the payment run, the parameters to generate the payment proposal are entered. The Proposal can then be displayed or printed to get an overview of the payments proposed by the program. The process can also propose the grouping of payments to the same vendor and netting with accounts receivable. When the proposal is created, the system checks the results, reading the proposal log and records any exceptions to it.