ENTRY NO. 8 – APPLICATION OF UNIDENTIFIED CASH RECEIPTS - 10508-DEC-2021

(Revised: 12/2022)

Purpose: To record cash receipts which could not be identified, or for which accounting treatment could not be determined, at time of collection are applied to appropriate accounts.

 

References: SAM sections 8071, 8171, 10506, and 10507.

 

Reverse Uncleared Collections and Record Cash Receipts to the Appropriate Account

Debit/ Credit	Account	Legacy Account	Account Description	Note
Debit	20901xx	3730	Uncleared Collections	a
Credit	1200100	1311	Accounts Receivable -Abatements	b
Credit	1200050	1312	Accounts Receivable-Reimbursements	c
Credit	1200000	1313	Accounts Receivable-Revenue	d
Credit	2010xxx	3100	Due to Other Funds or Appropriations	e
Credit	2050000	3410	Unearned Revenue	f
Credit	2052000	3420	Unearned Reimbursements	g
Credit	41xxxxx	8000	Revenue	h
Credit	48xxxxx	8100	Reimbursements	i
Credit	5xxxxxx	9000	Appropriation Expenditures	j
Credit	4180100	9892	Prior-Year Revenue Adjustments	k
Credit	5802000	9893	Prior-Year Appropriation Adjustments	l

 

Note:

1. Amount of cash receipts accounted previously as uncleared collections now applied to the appropriate accounts.
2. Amount of collections now applied to abatement receivables. 
3. Amount of collections now applied as a reimbursement receivables.
4. Amount of collections now applied as revenue receivables.
5. Amount of collections now applied as revenue collected for other funds earned in the current fiscal year.
6. Amount of collections now applied to revenue of the succeeding fiscal year.
7. Amount of collections now applied as a reimbursement to a current or subsequent fiscal year’s appropriation.
8. Amount of collections now applied as billed and or unbilled revenue earned in the current fiscal year.
9. Amount of collections now applied as current year reimbursements that were not billed previously or were deferred when billed because, according to law, they are to be applied to the year in which they are collected by the agency.
10. Amount of collections now applied as abatements to current year appropriation expenditures.
11. Amount of collections now applied to revenue (except reimbursements) which was identified as being earned as of the preceding June 30.
12. Amount of collections now applied in excess of amounts accrued in prior fiscal years as abatements or reimbursements.

 

Reverse Cash Overages and Record Revenue

Debit/ Credit	Account	Legacy Account	Account Description	Note
Debit	2090000	3710	Cash Overages	a
Credit	41xxxxx	8000	Revenue	b

 

Note:

1. Amount of cash accounted previously as cash overages, now applied as revenue, less any amounts cleared from the uncleared collections account to the cash overages account. 
2. Amount of collections now applied as revenue earned in the current fiscal year plus collections now applied as revenue but not identifiable to the fiscal year in which they were earned. 

 

Reverse Deferred Receivable and Record Cash Receipts to the Appropriate Account: If cash received above was for a Deferred Receivable the entry below will need to be recorded.

Debit/ Credit	Account	Legacy Account	Account Description	Note
Debit	1101000	1110	General Cash	a
Credit	41xxxxx	8000	Revenue	b
Credit	48xxxxx	8100	Reimbursements	c
Credit	5xxxxxx	9000	Appropriation Expenditures	d

 

AND

 

Debit/ Credit	Account	Legacy Account	Account Description	Note
Debit	1290000	1600	Provision for Deferred Receivable	e
Credit	1200150	1315	Accounts Receivable-Dishonored Checks	f
Credit	1200200	1316	Accounts Receivable-Cash Shortages	g
Credit	1209900	1319	Accounts Receivable-Other	h

 

Note:

1. Total cash received for deposit in the General Cash account.
2. Amount of collections now applied as billed and/or unbilled revenue earned in the current fiscal year. 
3. Amount of collections now applied as current year reimbursements that were not billed previously or were deferred when billed because, according to law, they are to be applied to the year in which they are collected by the agency.
4. Amount of collections now applied as abatements to current year appropriation expenditures.
5. Amount of collections now applied to receivables accounted during the year on a fully reserved basis and applied when collected to the appropriate revenue account.
6. Amount of collections now applied in payment of dishonored checks.
7. Amount of collections now applied in payment of cash shortages.
8. Amount of collections now applied to other accounts receivable.