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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

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Reporting Requirements for Annual Financial Reports of State Agencies and Universities


USAS Entries
Transaction Effective Dates

The effective date of a transaction is the date USAS posts the transaction or the process date, and is system-generated only. The transaction effective date can either be the effective date defaulted from the batch header or agencies may enter a different effective date on each transaction within a batch to override the batch header effective date. The effective date determines the month and fiscal year to which the transaction will post. If a month or year is closed, or future or prior month/year postings are not allowed, USAS edits against the effective date to determine if the transaction can be posted.

Note: USAS does not allow cash transactions to be postdated. If a cash transaction is entered with an effective date not equal to the current date, USAS automatically updates the effective date to the current system management date.

The reporting period for the fiscal 20CY AFR is from Sept. 1, 20PY to Aug. 31, 20CY. Use either 08/31/CY or 08/32/CY to enter adjustments and balance sheet information. An effective date of 08/31/CY posts to month 12 and 08/32/CY posts to month 13, the period for adjustments. The use of an 08/32/CY effective date is recommended for all fiscal 20CY transactions entered in USAS after Sept. 30 except as indicated below.***

Posting to a prior year is only valid for fiscal year-end accruals and adjustments. USAS does not allow a prior year effective date on transactions involving cash in state treasury (GL 0045). Enter accruals that generate cash transactions (for example, T-code 225) with an effective date of 08/31/CY or 08/32/CY if entered in USAS after Sept. 30. USAS posts the 08/31/CY or 08/32/CY date for the accrual entry and substitutes the current system management date for the cash liquidation that posts in the following fiscal year.

Use the following effective dates to post adjustments to fiscal 20CY after Sept. 30:

Adjustment*** Effective Date Acct. Period
Encumbrances* 08/31/CY** 12
Receivables 08/31/CY** 12
Payables* 08/31/CY** 12
Other Year-End Adjustments 08/32/CY    13
* Must be entered in USAS by Oct. 30. See Encumbrance Report and Lapsing of Appropriations (APS 018) (FPP A.019).
** If fiscal 20CY is closed and then re-opened, or if month 12 of the fiscal year is closed, use 08/32/CY as the effective date.