Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Interfund Activity

Balance Sheet for Interfund Activity
Due From/Due To Within Same Agency

An agency may need to record a due from/due to within the same agency between D23 funds. Due from/due to other funds must match and be accurately reflected on the agency’s AFR. Do not net due from/due to activity. To record a due from/due to within the same agency:

• Use T-codes 662 and 663.
  • T-codes 662 and 663 are balancing T-codes.
  • T-codes 662 and 663 do not allow the use of the “R” reversal code. If a reversal is necessary, use T-codes 660 and 661.
  • T-codes 662 and 663 post as of the effective date of the transaction and generate T-codes 673 and 674 — reversing the effect of the transaction using the current system management date. If the transaction is backdated, the generated T-codes post in the next period.
• Use GL 0283 and GL 1053.
  • GL 0284 and GL 1050 are used when transactions are between agencies — not when transactions are within the same agency.
• The AGL is required.
  • Record the agency’s own agency number, D23 fund number and a zero in the AGL field.

Accounting effect of above entries:

Typically the offset to the due from/due to postings is an entry to the operating statement. Use T-codes 658 and 659 to record a revenue and expense, and use T-codes 655 and 654 to record a transfer in and transfer out. T-codes 658 and 659 automatically reverse in the following year based on the system management date. T-codes 655 and 654 do not automatically reverse.

When using T-codes 655 and 654, the Financial Reporting section advises agencies to enter the current year transactions and their reversals at the same time. The current year transactions have an effective date of 08/32/CY and the reversals have a current system management effective date.

–OR–

–OR–

WARNING: System clearing must not have a balance after all entries post.

Correcting the AGL for Due From/Due To Other Funds

An agency may have entered a due from/due to with an incorrect AGL number. AGL information must be verified and corrected to reflect the accurate accounting event. USAS security and T-codes restrict users from entering a due from/due to other agencies with generic T-codes. When a transaction crosses agencies and must be corrected, contact your financial reporting analyst.

To correct the AGL for Due From/Due To Other Funds (within the same agency):

• Use T-codes 660 and 661.
  • T-codes 660 and 661 are balancing T-codes.
  • T-codes 660 and 661 allow the use of the “R” reversal code.
• Use GL 0283 and GL 1053.
  • Do not use GL 0284 and GL 1050 when transactions are within the same agency.
• The AGL is required.

Accounting effect of above entries:

WARNING: System clearing must not have a balance after all entries post.