University Accounting Office Procedures Manual

Section 10.0, Monthly Accounting/Budget Statements

The statements of Account (AMO90 and AMO91) are the official record of all financial transactions that take place at North Carolina State University. Monthly statements are sent to every department and should be used to reconcile and balance each account. Budget allowances for gift and self-supporting accounts are also recorded for departmental review and information.

B. General Guidelines/Applicable Policies

All entries posted to the account statements will be generated by the proper departments involved, i.e., Payroll Office for all payroll entries; Accounts Payable Office for all invoices; Central Stores for all items ordered from them, etc. It is necessary that the data as specified above be verified promptly and any inaccuracies be brought to the attention of the Accounting Office for correction.

C. Reports

AMO90 Account Statement. This report provides a monthly summary of all transactions that took place daily during the month, as well as fiscal year totals, open commitments (encumbrances), budget balances available, and percent of budget remaining.

Report Heading:

1. REPORT IDENTIFICATION- The date and time the report was printed and the report number.

2. REPORT TITLE- The name of the report and the "as of" date of the information.

3. ACCOUNT NO.- The six digit account number, the budget code or trust fund number in the previous accounting system (for quick cross referencing), the purpose code, and the fund number (for SALS use only). The SRS code is for central office use only.

4. ACCOUNT TITLE- The name of the account.

5. RESP PERSON - The name or title of the person responsible for the account is printed along with one address line.

6. DEPT.- The organizational unit code of the department.

7. ABR Code- Automatic Budget Reallocation. Code selected instructs the system as to which account and object to draw budget from for each expenditure or commitment.

   Dollar Section of Report:

8. OBJECT CODE- The four-digit object code is printed.

   The information for every object code on file for the six-digit account will be printed.

9. DESCRIPTION- The uniform object title for the object code is printed.

10. BUDGET- Budget figures will be shown for any object code for which they are present in the file.

11. ACTUAL- The actual dollars expended (or, in the case of revenues, received) will be shown for any object code for which they have occurred.

    CURRENT MONTH: The dollars recorded for the month.

    FISCAL YEAR TD: The dollars recorded for the fiscal year-to-date.

12. OPEN COMMITMENTS- The amounts are the totals of both the requisitions and purchase orders which are outstanding against a particular object code. The detail of purchase orders and requisitions supporting these amounts is shown in the Open Commitment Status section of this report.

13. BALANCE AVAILABLE- For expense objects, this is the budget less the actual fiscal year-to-date expenditures and less the requisitions and purchase orders. It is the balance of the budget still available for expenditure. For revenue objects, it represents the unrealized income. If no budget has been entered for a particular object code (either directly or through ABR), then the balance available will be negative or over budget. In the case of revenues, the balance available would appear as if it were under budget.

14. % REMG- Percent remaining is the calculated percentage of the budget which is still available for spending or collecting.

15. SUB-TOTALS- Sub-totals are taken at various points on the report. These are at the object class level. If there is only one object used in the major object code range, then no sub-total is printed.

16. ACCOUNT TOTAL- This is the grand total for all objects within an account. In the case where revenues are present, the amount is calculated by taking the revenue sub-total less the expense sub-total.

17. ABR MESSAGE- The "Separately Budgeted Subcode" statement is a message indicating that these objects are individually budgeted and that automatic budget reallocation (ABR) will not occur.

18. GENERAL MESSAGE- A message containing informative statements is printed after the dollar section of the report.

19. OPEN COMMITMENT STATUS- This section of the report lists the purchase orders and requisitions for this account by reference number within object code. This detail listing supports the amounts in the open commitments column in the dollar section of the report.

20. ACCOUNT- The ten-digit account number against which the commitment or obligation has been placed.

21. R/E- Indicates "R" for requisition or "E" for encumbrance.

22. REQUISITION REFERENCE NO.- Requisition number.

23. P.O. NUMBER- The purchase order number corresponding to this encumbrance activity.

24. DATE- The date the commitment or obligation was created is printed here.

25. DESCRIPTION- This description was entered when the commitment or obligation was created.

26. ORIGINAL AMOUNT- This amount shows the original commitment or obligation before any partial or final liquidations, or any adjustments.

27. LIQUIDATIONS/ADJUSTMENTS- This expenditure represents the total amount of any partial or final liquidation expenditures processed against the commitment or obligation.
28. CURRENT AMOUNT- The current outstanding amount of the commitment or obligation. All the current amounts for a particular object code, when taken in total, will equal the figure shown in the commitment/obligation column for that object code in the dollar section of the report. Commitment or obligation amounts can never go below -0-.

29. SUBTOTALS- Subtotals for requisitions and purchase orders.

30. ACCOUNT TOTAL- Grand total of encumbrances for the account; agrees to the total of Column 12 in the Dollar Section.

31. MESSAGE- A message containing general information is printed after the open commitment section of the report.

Report Heading:

1. REPORT IDENTIFICATION- The date and time the report was printed and the report number.

2. REPORT TITLE- The name of the report and the "as of" date of the information.

3. ACCOUNT NO.- The six digit account number, the trust fund number in the previous accounting system (for quick cross-referencing), the purpose code, and the fund number (for SALS use only). The SRS code is for central office use only.

4. ACCOUNT TITLE- The name of the account.

5. REPORT DISTRIBUTION- The name or title of the person responsible for the account is printed along with one address line.

6. DEPT.- The organizational unit code of the department.

   Dollar Section of Report:

7. OBJECT CODE- The object code of the transaction appears here. All transactions posted to the account during the month are listed in object code sequence.

8. PROJECT NO.- A five-digit code for special reporting by the School of Agriculture and Life Sciences and the School of Forestry.

9. DESCRIPTION- The uniform object title for the object code is printed.

10. DATE- The date on the transaction - month and day - as printed.

11. EC (TRANSACTION CODE)- This is a two-digit numerical code which indicates the type of transaction - budget, receipt, expenditure, encumbrance, etc.

12. PR/PO OTHER- This refers to Purchasing documents (e.g., Purchase Requisitions, Purchase Orders, P.O.C.O.s, and P.R.A.N.s).

13. JV/CHECK PAYROLL- The reference in this column will be for journal vouchers, checks, deposit slips, service unit billings, interdepartmental transfers, and other document reference numbers.

14. J.E. OFFSET ACCOUNT- When a journal entry (a 6X type transaction) is posted to the account, the offset account is shown on the transaction listing as well as a debit (DR) or credit (CR) indicator.

15. INVOICE NUMBER- Refers to customer invoice number.

16. BUDGET ENTRIES- The amount of any budget transaction is shown in this column.

17. CURRENT REVENUE/EXPENSE- The amount of any disbursement (transaction type 4X or 6X) or any receipt (transaction type 3X) is shown in this column.

18. COMMITMENTS- The amount of any requisition or purchase order (transaction types 7X and 5X) is shown in this column.

19. TOTALS- The total current month amount is shown for each object code.

20. ACCOUNT TOTAL- The grand total for the account.

Report Heading:

1. REPORT IDENTIFICATION- The date and time the report was printed and the report number.

2. REPORT TITLE- The name of the report and the "as of" date of the information.

3. ACCOUNT NO.- The six digit account number, the trust fund number in the previous accounting system (for quick crossreferencing), the purpose code, and the fund number (for SALS use only). The SRS code is for central office use only.

4. ACCOUNT TITLE- The name of the account.

5. REPORT DISTRIBUTION- The name or title of the person responsible for the account is printed along with one address line.

6. DEPT.- The organizational unit code of the department.

   Dollar Section of Report:

7. ACCOUNT CONTROL- General ledger account controls are used in a manner similar to object codes in subsidiary ledger accounts. All transactions posted to the account during the month are listed in account control sequence.

8. DESCRIPTION- The uniform title for the account control is printed.

9. DATE- The date of the transaction - month and day - is printed.

10. EC (TRANSACTION CODE)- This is a two-digit numerical code which indicates the type of transaction - receipt or deduction. For a list of transaction codes, please see page 12 of this section and statement.

11. PR/PO OTHER- Not applicable

12. JV/CHECK PAYROLL- The reference in this column will be for journal vouchers, checks, deposit slips, and other document reference numbers.

13. J.E. OFFSET ACCOUNT- When a journal entry (a 6X type transaction) is posted to the account, the offset account is shown on the transaction listing as well as a debit (DR) or credit (CR) indicator.

14. INVOICE NUMBER- Not Applicable

15. PREVIOUS BALANCE- YTD/inception-to-date balances prior to current month. In the example for ABC GIFT ACCOUNT, the Cash and Fund Balance are balances at the end of the previous month. The balances for the other account controls are year-to-date.

16. CURRENT MONTH- Net total of transactions which took place in the current month.

17. TOTAL TO DATE- YTD/inception-to-date balances prior to current month. In the example for ABC GIFT ACCOUNT, the Cash and Fund Balance are balances at the end of the previous month. The balances for the other account controls are year-to-date.

18. TOTALS- The general ledger account totals are shown for Previous Balance, Current Month, and Total To Date columns.

19. FUND BALANCE CHANGE- The change in fund balance is shown as the difference between total additions and total deductions.